---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/38780806.md"
description: "📊 Figma 2025 Q4 & Full Year Financial Report (Released 2026-02-18) I. Core Financials (Q4 2025) - Revenue: $303.8M, +40% YoY, exceeding guidance- Net Dollar Retention (NDR): 136% (+5pct QoQ)- Non-GAAP Operating Profit: $44.0M, margin 14%- Adjusted Free Cash Flow: $38.5M, margin 13%- Cash Reserves: $1.7B II. Full Year (FY 2025) - Total Revenue: $1.056B, +41% YoY- International Revenue: +45% YoY- Non-GAAP Operating Profit: $129.5M, margin 12%- Operating Cash Flow: $250.7M, margin 24%- GAAP Loss: $1.3B (including $975.7M one-time IPO stock-based compensation) III. Customer & Product Highlights - Large Customers (>$10k ARR): 13,861; >$100k: 1,405; >$1M: 67- Figma Make Weekly Active Users: +70% QoQ; >50% of >$100k ARR customers use weekly- AI Integration: Claude Code→Figma editable layers; integrated Gemini 3 Pro/Claude Opus 4.6; acquired Weavy (Figma Weave)- International Expansion: Opened office in India, local data hosting (India is the second-largest MAU market) IV. 2026 Guidance - Q1 Revenue: $315–317M, +38% YoY (midpoint)- Full Year Revenue: $1.366–1.374B, +30% YoY (midpoint)- Non-GAAP Operating Profit: $100–110M   🎤 Key Takeaways from Earnings Call (CEO Dylan Field + CFO Praveer Melwani) 1. Growth Thesis: AI is not a threat, but an amplifier - AI makes design more important, not a replacement; Figma becomes the central canvas for AI workflows- Expanded from 4 to 8 products, 200+ features for the year, accelerated rollout of AI-native features- Claude Code→Figma: Code directly converts to editable designs, bridging the dev→design workflow 2. Customers & Retention: Strong enterprise stickiness - NDR 136%: Strong willingness to pay, price increases, and multi-product adoption among large customers- **>80%** of Figma Make full-seat users also use Figma Design, demonstrating significant platform synergy 3. Finance & Investment: High-quality growth - Healthy cash flow, continued investment in AI and platform, while maintaining financial discipline- 2026 growth slows to 30%, but margin targets improve, shifting from "growth first" to a balance of "profitability + growth" 4. Competition & Moat - Design collaboration network effects + entrenched enterprise processes create extremely high switching costs- Deep partnerships with Anthropic and OpenAI provide leading AI capabilities vs. competitors   ✅ Core Conclusions - Growth exceeded expectations: Q4 40% growth, NDR 136%, positive cash flow, validating the AI+platform strategy- AI is the core engine: Explosive penetration of Figma Make, bridging the AI code→design workflow- 2026 gear shift: Growth slows but margins improve, entering a stage of high-quality growth- Risks: Valuation remains high, intensifying AI competition, volatility in enterprise IT budgets"
datetime: "2026-02-19T01:59:00.000Z"
locales:
  - [en](https://longbridge.com/en/topics/38780806.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/38780806.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/38780806.md)
author: "[宇宙大爆炸](https://longbridge.com/en/profiles/636902.md)"
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/topics/38780806.md) | [繁體中文](https://longbridge.com/zh-HK/topics/38780806.md)


# 📊 Figma 2025 Q4 & Full Year Financial Report …


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