Figma Reports 48% Revenue Growth to $370.1 Million in Q2 2026, Despite $112.2 Million Net Loss

Figma, Inc. reported significant financial results for the second quarter of 2026, with revenue reaching $370.1 million, a 48% increase from $249.6 million in the same period last year. For the first half of 2026, revenue totaled $703.5 million, up 47% from $477.8 million in the first half of 2025. Despite this growth, the company recorded a net loss of $112.2 million for the quarter, compared to a net income of $28.2 million in the prior year. The loss for the first half of 2026 was $254.6 million, a decline from a profit of $73.1 million in the first half of 2025. The increase in revenue was primarily driven by a rise in the number of paid customers, particularly those with annual recurring revenue (ARR) exceeding $10,000 and $100,000, which grew by 34% and 46%, respectively.

Figma's cost of revenue surged by 117% to $60.5 million in the second quarter, largely due to increased technical infrastructure and hosting costs associated with artificial intelligence (AI) initiatives and a rise in employee-related expenses. Operating expenses also saw a significant increase, with research and development costs rising by 101% to $167.3 million, sales and marketing expenses increasing by 58% to $154.9 million, and general and administrative expenses climbing by 169% to $104.7 million. The overall operating loss for the quarter was $117.3 million, compared to a slight profit of $2.1 million in the same quarter of 2025.

In terms of operational metrics, Figma reported a total of 15,964 paid customers with more than $10,000 in ARR and 1,635 customers with more than $100,000 in ARR as of June 30, 2026. The company's net dollar retention rate improved to 136%, up from 129% a year earlier, indicating strong customer retention and expansion within its existing customer base. The company continues to expand its product offerings, having launched several new products in recent years, including Figma Make, Figma Sites, and Figma Buzz, which are designed to enhance user experience and streamline the design process.

Looking ahead, Figma remains focused on integrating AI into its platform and expanding its product capabilities. The company has made strategic acquisitions, including Payload CMS and Weavy Inc., to bolster its offerings. Despite the current losses, Figma's management believes that its cash reserves, which stood at $445.8 million as of June 30, 2026, along with marketable securities of $1.2 billion, will be sufficient to fund operations for at least the next twelve months. However, the company acknowledges that future capital requirements will depend on various factors, including subscription growth, investments in AI, and the introduction of new products.