Figma Inc. (NYSE:FIG) shares plunged nearly 19% Thursday following the release of its second-quarter results after Wednesday's market close.
The company posted revenue of $249.64 million, significantly surpassing the consensus estimate of $228.2 million. This represents a 41% year-over-year increase from $177.20 million in the same quarter last year.
Adjusted earnings for the quarter were 8 cents per share, missing the consensus estimate of 18 cents per share, but reflecting an increase over the 7 cents per share reported in the year-ago quarter.
On a GAAP basis, Figma reported break-even earnings, a notable turnaround from the $4.39 per share loss in the prior-year period.
Looking forward, Figma provided an optimistic revenue outlook for fiscal 2025, forecasting a range between $1.021 billion and $1.025 billion, exceeding the $1.009 billion Street consensus.
For the third quarter of 2025, Figma projects revenues to range from $263 million to $265 million, well above the consensus of $248.78 million.
Several analysts have updated their ratings on Figma following the earnings report.
RBC Capital’s Rishi Jaluria maintained a Sector Perform rating but reduced the price forecast from $75 to $65.
Wells Fargo’s Michael Turrin reiterated an Equal-Weight rating and lowered the price forecast from $82 to $70.
In contrast, Piper Sandler’s Brent Bracelin initiated coverage with an Overweight rating and set a price forecast of $85.
Price Action: FIG stock is trading lower by 18.5% to $55.50 at last check Thursday.
Read Next:
Photo by rblfmr via Shutterstock
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
