Figma reported 38% year-over-year revenue growth in its most recent quarter, driving annualized revenue toward the $1 billion mark. Despite this hyper growth, share prices have declined by 58% since the last earnings release, pushing the enterprise value-to-sales ratio down to 9.4×. Investors have repriced the stock in response to competitive concerns, creating a valuation that now sits well below peers in the design software sector.

Figma has launched Figma Make, an AI-powered design assistant built in partnership with OpenAI, and rolled out usage-based pricing options to better align with customer consumption. Early adopters report up to 30% faster design iteration cycles when leveraging these AI tools. Management highlights that these innovations strengthen its collaboration moat and expand the addressable market into automated prototyping and code generation.

Figma will release fourth quarter and full year 2025 financial results on February 18, 2026 after market close, followed by a conference call at 5 p.m. ET. Investors can submit questions in advance via the company’s IR email, with replays and transcripts accessible on the Investor Relations site. Analysts will be watching guidance closely for signs of revenue acceleration driven by AI offerings and usage-based billing adoption.