Figma (FIG) Climbs 13% Amid Revenue Beat
Insider Monkey – Free Hedge Fund and Insider Trading Data (Angelica Ballesteros)Figma Inc. (NYSE:FIG) is one of the 10 Stocks Dominating With Powerful Gains.
Figma climbed by 13.24 percent on Friday to close at $22.92 apiece, as investors cheered its strong revenues for the first quarter of the year, which beat earlier expectations.
In a statement, Figma Inc. (NYSE:FIG) said that it grew its revenues by 46 percent to $333.4 million, beating its earlier guidance of $315 million to $317 million. The figure marked a 46 percent jump from the $228 million in the first quarter last year.
Photo from Figma website
CFO Praveer Melwani pointed to the stronger-than-expected seat expansion across entire organizations, driven by design’s growing importance and adoption of its AI products such as Figma Make, MCP, and Figma Weave.
Figma Inc. (NYSE:FIG), however, swung to a net loss of attributable to shareholders of $142 million from an $8.6 million attributable net income year-on-year.
Looking ahead, Figma Inc. (NYSE:FIG) raised its revenue growth outlook for the full-year period to a range of $1.422 billion to $1.428 billion, versus the $1.366 billion to $1.374 billion previously expected. This would imply a growth of 34.6 percent to 35 percent from the $1.056 billion posted last year.
For the second quarter alone, revenues are projected to be in the range of $348 million to $350 million, or an implied growth of 39 percent to 40 percent from the $249.6million year-on-year.
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