Figma Inc. shares surged 229% after an IPO raised $1.2 billion, valuing the company above $20 billion, surpassing the now-scrapped merger with Adobe Inc. The company reported stronger-than-expected third-quarter revenue of $274.2 million, a 38% year-over-year growth. Figma’s net loss increased to $1.10 billion, with adjusted earnings per share at 10 cents. CEO Dylan Field highlighted Figma Make’s impact on new customer acquisition and revenue growth, with a net dollar retention rate of 131% for clients spending at least $10,000 annually. The company anticipates fourth-quarter revenue of $292 million to $294 million, reflecting a 35% growth. Figma recently acquired Weavy, a startup specializing in generative AI models for creative assets. The company remains committed to investing in AI capabilities without imposing credit limits or additional charges for AI consumption. CEO Field emphasized long-term customer value over short-term margin concerns.

Read more at CNBC: Figma (FIG) Q3 earnings report 2025