Figma sinks after earnings beat as company prioritizes long-term growth with AI changes

Figma shares tumbled 7% in extended trading after the company reported third-quarter results and guidance that surpassed Wall Street's predictions.

Figma's revenue grew about 43% year over year in the quarter, according to a statement . Net loss narrowed to $81.3 million, or 15 cents per share, compared with a loss of $1.10 billion, or $2.72 per share, a year earlier.

The company's 12% adjusted operating margin exceeded the 6.1% consensus among analysts polled by StreetAccount.

Executives lifted the full-year forecast. Figma now anticipates an 11% operating margin, up from 9% as of August, and $1.497 billion to $1.499 billion in revenue, compared with $1.463 billion to $1.467 billion before. Analysts surveyed by LSEG were looking for $1.471 billion in 2026 revenue.

The company sees fourth-quarter revenue growth slowing to about 33%. Analysts polled by LSEG had predicted 28% growth.

Figma's announcement comes a day after highly valued design software startup Canva said it would cut 22% of its employees.

Shares have come down about 41% so far in 2026, while the S&P 500 index has gained 12%. Earlier this year, investors became concerned that artificial intelligence models could pose a competitive risk to Figma. Across much of software, AI panic has largely subsided as incumbents have posted persistent growth.

Figma wants to benefit from the rising adoption of AI to build websites and apps. During the quarter, the company started giving more AI credits to clients while maintaining prices.