Figma Reports 46% Q1 Revenue Growth to $33M and Raises Outlook
Figma's Q1 revenue jumped 46% year-over-year to $33 million with non-GAAP operating margin of 16% and cash flow margin of 27%, while net dollar retention for 10K+ accounts hit 139%. The company raised its full-year outlook and noted 60% of enterprise customers now use AI credits, boosting add-on spend threefold.
1. Q1 Financial Performance
Figma delivered Q1 revenue of $33 million, up 46% year-over-year, with non-GAAP operating margin of 16% and cash flow margin of 27%. Net dollar retention for accounts billing over $10,000 rose to 139%, its highest level in two years.
2. AI Credit Monetization Traction
After enforcing AI credit limits on March 18, 75% of enterprise customers continued drawing credits in April, while pro-tier customers purchasing AI add-ons are spending three times more than non-users. Adoption of the Figma Make prompt-to-prototype tool grew to 60% among customers paying over $100,000.
3. Full-Year Outlook and AI Roadmap
The company raised its full-year financial outlook, citing growing adoption of AI offerings. Figma is expanding generative design capabilities with products like Figma Weave and an AI assistant beta that integrates directly into the design canvas.