Figma Inc. shares surged 229% after raising $1.2 billion in an IPO, valuing the company above $20 billion it would have reached in a merger with Adobe Inc. Shares fell 13% in extended trading after reporting Q2 results: revenue $249.6M, net income $846K, and forecasted Q3 revenue $263-265M. Figma introduced Figma Make using AI for designs and acquired two startups. CEO Dylan Field mentioned that the company has built AI costs into its model and is not providing a forecast for Q3 adjusted operating income. The company reported a 129% net retention rate and expects a share lockup to expire for some employees in September. Stock closed at $68.13 after IPO.

Read more at CNBC: Figma (FIG) Q2 earnings report 2025