Figma Q4 Revenue Climbs 40% to $304M with 136% Net Dollar Retention
Figma reported Q4 revenue of $304M, up 40% year-over-year, while net dollar retention for customers >$10K ARR climbed to 136% and adjusted free cash flow reached $38M (13% margin) with $1.7B in cash. For Q1 2026, management guided revenue of $315–317M (38% growth) and full-year revenue of $1.366–1.374B (30% growth).
1. Q4 Financial Highlights
Figma delivered Q4 revenue of $304 million, a 40% increase year-over-year, and non-GAAP operating income of $44 million (14% margin). Adjusted free cash flow reached $38 million (13% margin), and the company closed 2025 with $1.7 billion in cash, cash equivalents, and marketable securities.
2. Customer Metrics and Retention
Net dollar retention for customers spending over $10,000 in ARR rose five points sequentially to 136%, the highest level in ten quarters, while gross retention held at 97%. The company added 951 net customers in the >$10,000 ARR tier and 143 in the >$100,000 tier, with 67 customers spending over $1 million in ARR, up 68% year-over-year.
3. AI and Product Momentum
Management highlighted over 200 feature launches in 2025 and an expansion from four to eight products driven by AI investments and infrastructure optimization. Figma Make weekly active users surged over 70% sequentially, and approximately 75% of customers with >$10,000 ARR consumed AI credits weekly, underscoring broad adoption beyond design teams.
4. 2026 Outlook and Guidance
Figma guided Q1 2026 revenue of $315–317 million, implying 38% growth, and full-year 2026 revenue of $1.366–1.374 billion, or 30% growth at midpoint. The company expects non-GAAP operating income of $100–110 million (8% margin) and plans adjusted free cash flow roughly in line with operating profit while accelerating AI and infrastructure investments.