Figma raises revenue outlook as AI usage grows, but remains loss-making

Figma cofounder Dylan Field at TechCrunch Disrupt in San Francisco on October 20, 2022. Archive photograph, not the November 2026 earnings announcement. Credit: Kimberly White / Getty Images for TechCrunch, via Wikimedia Commons / CC BY 2.0. Image source · License. Unmodified.

By Tito Baron Media News Desk

Figma raised its full-year revenue outlook after a sharp increase in third-quarter sales, as the design-software company sought to turn greater use of artificial intelligence into stronger financial returns.

Revenue rose 43% from a year earlier to US$391.4 million in the quarter ended September 30, Figma said on November 4. It now expects annual revenue of US$1.497 billion to US$1.499 billion.

The growth did not translate into a profit under generally accepted accounting principles. Figma reported a quarterly net loss of US$81.3 million, alongside adjusted net income of US$53.7 million. Investors need to distinguish those measures because the adjusted figure excludes costs included in the accounting result.

Figma said more than 80% of paid customers with annual recurring revenue above US$10,000 were consuming AI credits weekly as of October 31. That is a measure of a defined group of larger customers, not of every person using the platform.

Finance chief Praveer Melwani told Reuters that AI credits and greater use of the company’s own model were intended to improve margins. He said changes that gave customers more credits had helped increase usage and retention.

The company’s previous revenue forecast was US$1.463 billion to US$1.467 billion, Reuters reported. Its new adjusted operating-income forecast of US$158 million to US$163 million also exceeded the earlier US$125 million to US$135 million range.

There was still a caution in the results: Reuters reported a gross margin of 80%, below expectations of 81%. The combination of rising sales, wider AI adoption and a reported net loss leaves the next test clear. Figma must show that its expanding AI business can produce durable returns as well as greater use.

Sources: Source 1 · Source 2