Figma’s Q1 Revenue Jumps 46%, Guides $1.425 B for 2026
Figma’s Q1 2026 revenue rose 46% to $333.4 million with non-GAAP EPS of $0.10, accelerating from 40% growth in Q4 and 38% in Q3. The company raised full-year 2026 revenue guidance to $1.425 billion, maintained ~82% gross margins despite higher AI costs, and trades near 10× sales.
1. Strong First-Quarter Performance
Figma reported Q1 2026 revenue of $333.4 million, up 46% year-over-year, beating consensus expectations. Non-GAAP EPS came in at $0.10 versus forecasts of $0.06, marking the highest growth acceleration since Q3 2025.
2. Robust Customer Metrics
Net dollar retention climbed to 139%, while customers spending over $100,000 annually grew 48% and Pro team conversions surged 150%. These figures signal deeper organizational adoption and stickier revenue amid intensifying competition.
3. AI Monetization and Integrations
Increased investment in AI features caused gross margins to dip slightly to 82%, yet AI credit monetization exceeded targets. Integrations with Claude Code, Cursor, and VS Code position Figma as a foundational AI design tool.
4. Upgraded Guidance and Valuation
Figma raised its full-year 2026 revenue forecast to roughly $1.425 billion and boosted operating income guidance. Trading at around 10 times forward sales, the stock’s valuation appears undemanding for a company growing above 40% with >80% margins.