Figma Q2 Revenue Up 48%, Stock Falls 15% After Hours

Figma released its fiscal second-quarter results for 2026 on August 6. Revenue came in at $370.1 million, up 48% year over year, exceeding the company's prior guidance for the quarter. Management also indicated that year-over-year revenue growth would accelerate in the third quarter. On a GAAP basis, gross profit totaled $309.6 million, translating to an 84% gross margin. Non-GAAP gross profit was $314 million, an 85% margin. Both GAAP and non-GAAP gross profit rose 40% from the same period last year, showing faster growth. The company's GAAP operating loss reached $117.3 million, resulting in a -32% operating margin. Non-GAAP operating income, however, was positive at $36.1 million, a 10% margin. Figma attributed the impact on operating income to increased spending on sales and marketing related to Config, its annual user conference. In terms of cash flow, net cash provided by operating activities was $60.9 million, an operating cash flow margin of 16%. Free cash flow was $53.2 million, a 14% margin. After the market close, Figma's stock dropped 15.56% in after-hours trading, changing hands at $23.83, according to BIT (bit.com) market data.