Figma, Inc. Q1 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Figma Q1 2026 Earnings Summary

Financial Highlights

  • Revenue: $333 million, +46% YoY (accelerated from +40% in Q4 2025 and +38% in Q3 2025). Beat high end of guidance; second consecutive quarter of YoY acceleration.
  • International Revenue: +48% YoY.
  • Non-GAAP Gross Profit: $275 million (82% margin).
  • Non-GAAP Operating Income: $52 million (16% margin).
  • Free Cash Flow: $89 million (27% margin; impacted by $56 million annual bonus payout, -17pp effect).
  • Cash Position: $1.6 billion in cash, equivalents, and marketable securities at quarter end.

Key Operating Metrics (vs. Prior Periods)

  • Net Dollar Retention Rate (NDR): 139% for customers >$10k ARR (up 3pp from Q4 2025; highest level in over 2 years).
  • Customers >$10k ARR: +37% YoY (accelerated 5pp vs. Q4 2025).
  • Customers >$100k ARR: +48% YoY (accelerated 2pp vs. Q4 2025).
  • Total Paid Customers: ~690,000 (vs. ~450,000 in Q1 2025; +54% YoY).
  • AI Adoption: ~60% of >$100k ARR customers using Figma Make weekly (up from >50% in Q4 2025); Pro team AI conversions +150% YoY.

Business & Product Updates

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Operator: Good day, everyone, and welcome to the Figma Q1 2026 Earnings Call. At this time, I would like to hand the call over to Mr. Brendan Mulligan. Brendan Mulligan: Good afternoon, and thank you for joining us on today's conference call to discuss Figma's results for the first quarter of 2026. On the call, we have Dylan Field, Figma's Co-Founder and Chief Executive Officer; and Praveer Melwani, our Chief Financial Officer. During the course of today's call, we will make forward-looking statements, including, but not limited to, statements regarding our guidance and future financial performance, market demand for our products, including adoption of Figma Make and other AI features, our product development plans, business strategies and plans, and our ability to attract and retain customers and compete effectively. These forward-looking statements are based on management's current views and assumptions and should not be relied upon as of any subsequent date, and we disclaim any obligation to update any forward-looking statements. Actual results may vary materially from today's statements. Information concerning our risks, uncertainties and other factors that could cause results to differ from these forward-looking statements are included in our filings with the SEC, including our quarterly report on Form 10-Q for the 3 months ended March 31, 2026. Our discussion today will include certain non-GAAP financial measures. These non-GAAP financial measures should be considered i

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