Figma Stock Plunges 14% After First Earnings Report Since July IPO

Benzinga

Figma shares fell 14% in after-hours trading on Wednesday after the design software company reported its first earnings since its July IPO, according to CNBC. Revenue rose 41% year over year to $249.6 million, narrowly topping consensus estimates of $248.8 million, while earnings per share broke even. Net income was $846,000 compared with a loss of $827.9 million a year earlier. Adjusted operating income reached $11.5 million, in line with prior guidance. For the third quarter, Figma forecast revenue of $263 million to $265 million, above the $256.8 million consensus. The company also reaffirmed full-year guidance, projecting over $1.02 billion in revenue and $88 million to $98 million in adjusted operating income. Shares closed at $68.13 on Wednesday, well above the $33 IPO price but far below the $115.50 debut.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Figma shares fell 14% in after-hours trading on Wednesday after the design software company

00:07reported its first earnings since its July IPO, according to CNBC.

00:11Revenue rose 41% year-over-year to $249.6 million,

00:16nearly topping consensus estimates of $248.8 million.

00:19Earnings per share broke even.

00:21Net income was $846,000, paired with a loss of $827.9 million a year earlier.

00:27Adjusted operating income reached $11.5 million, in line with prior guidance.

00:31For the third quarter, Figma forecasts revenue of $263 million to $265 million,

00:37above the $256.8 million consensus.

00:40The company also reaffirmed full-year guidance,

00:42projecting over $1.02 billion in revenue and $88 million to $98 million in adjusted operating income.

00:49Shares closed at $68.13 on Wednesday, well above the $33 IPO price,

00:54but far below the $115 hour, $0.50 debut.

00:57For all things money, visit Benzinga.com.

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