Figma Announces Second Quarter 2026 Financial Results

Q2 revenue grew 48% year-over-year to $370.1 million, the third straight quarter of accelerated year-over-year growth. GAAP and non-GAAP gross profit year-over-year growth accelerated to 40%. Code Layers, the Figma agent, and new creative capabilities expand the surface for AI consumption and what teams can create in Figma. Figma raises full year revenue guidance, reflecting sustained seat expansion and AI adoption. Figma, Inc. (NYSE:FIG) announced financial results today for its second quarter ended June 30, 2026. “Q2 was Figma’s third straight quarter of accelerated revenue growth, and as code gets commoditized and value moves up the stack, the opportunity ahead of us has only grown,” said Dylan Field, Figma's CEO. “By bringing code, new creative capabilities, and agents directly to the canvas, we’re increasing the surface for AI consumption in Figma and expanding the possibilities for what teams can create on our platform. Figma is building the canvas for full-stack creation: one place where anyone can reach for the tool they need to express their vision exactly as they imagine it.” “Q2 was a record quarter and our first full quarter of AI credit monetization,” said Praveer Melwani, Figma’s CFO. “Revenue grew 48% year-over-year, accelerating for the third consecutive quarter, and gross profit growth accelerated alongside it. Net Dollar Retention Rate remained strong at 136% as customers expanded both seats and AI credit add-ons. The strength of these signals gives us the confidence to raise our full year revenue outlook while continuing to invest behind the products we introduced at Config.” Second Quarter 2026 Financial Highlights: Revenue was $370.1 million, up 48% year-over-year and above the range of Figma’s previously issued second quarter guidance. Year-over-year revenue growth accelerated for the third sequential quarter.GAAP gross profit was $309.6 million; GAAP gross margin was 84%. Non-GAAP gross profit was $314.0 million; non-GAAP gross margin was 85%. Year-over-year growth for GAAP and non-GAAP gross profit accelerated to 40%.GAAP loss from operations was $(117.3) million; GAAP operating margin was (32)%. Non-GAAP operating income was $36.1 million; non-GAAP operating margin was 10%. GAAP and non-GAAP operating income were impacted by the increased investment in sales and marketing spend related to Figma’s annual user conference, Config.Net cash provided by operating activities was $60.9 million; operating cash flow margin was 16%. Free Cash Flow was $53.2 million; Free Cash Flow Margin was 14%.GAAP net loss was $(112.2) million and non-GAAP net income was $42.6 million.GAAP net loss per share, basic and diluted was $(0.21) and non-GAAP net income per share, basic and diluted was $0.08.Cash, cash equivalents, and marketable securities were $1.7 billion as of June 30, 2026. Recent Business & Product Highlights: Net Dollar Retention Rate was 136% as of June 30, 2026.15,964 Paid Customers with more than $10,000 in ARR as of June 30, 2026, growing 34% year-over-year.1,635 Paid Customers with more than $100,000 in ARR as of June 30, 2026, growing 46% year-over-year.As of June 30, 2026, over 80% of Paid Customers with more than $10,000 in ARR were consuming AI credits weekly.Hosted Config, Figma’s annual user conference, which brought over 10,000 designers, product builders, and executive leaders from the world’s leading companies to San Francisco.Announced Code Layers, which brings the power of Figma Make to the Figma design canvas. With Code Layers, teams can turn static designs into interactive, code-backed prototypes that can be edited in code or manipulated visually. Also introduced the ability for teams to work directly in their production codebase with Figma Make.Introduced new expressive capabilities on the canvas such as Motion, Shaders, and 3D Transforms; also shipped Figma Weave Tools, which turn complex AI image and video generation workflows into re-usable tools on the canvas. Together, these new capabilities expand the types of work that can happen on Figma.Launched the Figma agent, a first-party agent that’s built into the canvas, fluent in Figma, and increasingly powered by Figma’s first-party model. The Figma agent handles everything from automating repetitive tasks to generating motion animations and shaders; as of July 31, 2026, over 50% of Paid Customers with more than $10,000 in ARR were already using the Figma agent on a weekly basis.Introduced Skills, a way for teams to teach the Figma agent their own processes, governance standards, and best practices, and generative plugins, which allow teams to build custom internal tools by simply prompting the Figma agent. Third Quarter and Full Year 2026 Outlook: Based on information as of today, Figma is providing the following guidance: Third Quarter 2026 Outlook:Revenue between $373.0 million and $375.0 million, implying 36% year-over-year growth at the midpoint of the range.Full Year 2026 Outlook:Revenue between $1.463 billion and $1.467 billion, implying 39% year-over-year growth at the midpoint of the range and a raise of $40.0 million to Figma’s previously issued guidance.Non-GAAP operating income between $125.0 million and $135.0 million, representing a non-GAAP operating margin of 9% at the midpoint of the range. Conference Call Details: Figma will host a conference call today, August 5, 2026, at 5:00pm Eastern Time (2:00pm Pacific Time) to discuss its financial results for the second quarter of 2026 and outlook for the third quarter and full year 2026. To access the call, please register at https://investor.figma.com/news-events/events-and-presentations/event-details/2026/Figma-Q2-2026-Earnings-Call/default.aspx. Figma will provide a written version of the prepared remarks portion of the call on Figma’s investor relations website (https://investor.figma.com) before the call begins. A live webcast of the call will be available on Figma’s investor relations website (https://investor.figma.com), and a replay and transcript of the webcast will be archived on the same website following the call. Investor Presentation: An investor presentation providing additional information can be found at https://investor.figma.com. About Figma Figma is where teams design and build the world’s best digital products. Founded in 2012, Figma’s canvas brings teams, agents, code and design together to go from idea to shipped product, all in one place. Whatever you’re building, Figma makes your workflow more collaborative and efficient—while keeping everyone on the same page. Figma, the Figma logo, and other registered or common law trade names, trademarks, or service marks of Figma appearing in this press release are the property of Figma, Inc. All third-party trademarks and trade names appearing in this press release are the property of their respective owners. The use of such trademarks and trade names is for identification purposes only and does not imply any affiliation with, endorsement of, or sponsorship by their respective owners. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of applicable securities laws. All statements other than statements of historical fact could be deemed to be forward-looking, including, but not limited to, statements regarding Figma’s future operating results and financial condition, including financial outlook for the third quarter of 2026 and full year 2026, Figma’s business strategy and plans, Figma’s expectations regarding opportunity, customer adoption, growth, and expansion, Figma’s expectations regarding AI products, features, and monetization, as well as any assumptions relating to the foregoing. The words “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are made as of the date they were first issued and are based on information available to Figma together with Figma’s expectations, estimates, forecasts, projections, beliefs, and assumptions as of such date. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Figma’s control. Figma’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors. Further information on potential risks that could affect actual results is included in Figma’s most recent filings with the Securities and Exchange Commission (the “SEC”), including in Figma’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, filed or to be filed with the SEC on August 5, 2026, copies of which may be obtained by visiting Figma’s Investor Relations website at https://investor.figma.com or the SEC's website at https://www.sec.gov. Past performance is not necessarily indicative of future results. Figma undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Forward-looking statements should not be relied upon as representing Figma’s views as of any date subsequent to the date of this press release. Non-GAAP Financial Measures This press release and the accompanying tables contain the following non-GAAP financial measures: Free Cash Flow, Free Cash Flow Margin, non-GAAP gross profit, non-GAAP gross margin, non-GAAP research and development expenses, non-GAAP sales and marketing expenses, non-GAAP general and administrative expenses, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income, non-GAAP net income attributable to common stockholders, non-GAAP net income attributable to common stockholders considering potentially dilutive securities, and non-GAAP net income per share, basic and diluted. Certain of these non-GAAP financial measures exclude stock-based compensation expense, amortization of stock-based compensation expense included in capitalized internal use software development costs, employer payroll taxes on employee stock transactions, and amortization of acquired intangibles from acquisitions. Additionally, Figma excludes certain non-recurring charges, including equity investment (gains) losses, net, remeasurement (gains) losses on digital assets, non-current, net, and impairment losses on long-lived assets. The tax rate used to compute income tax effects and adjustments is Figma’s blended current expected effective tax rate, based on tax legislation currently in effect, and is subject to change based on various factors, including but not limited to, changes to local and international tax laws, changes in the geographic mix of Figma’s earnings, or other changes to Figma’s strategy or business operations. Figma believes that these non-GAAP financial measures provide useful information to management and investors in evaluating Figma’s financial condition and operating performance. Figma’s management uses these non-GAAP measures, collectively, to evaluate Figma’s ongoing operations, and for budgeting and internal planning purposes. Figma believes that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. The non-GAAP financial information is presented for supplemental informational purposes only, should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled non-GAAP measures used by other companies. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in Figma’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. Figma urges investors to review the reconciliation of its non-GAAP financial measures to the comparable GAAP financial measures, and not to rely on any single financial measure to evaluate Figma’s business. Reconciliations of the most comparable GAAP financial measures to the non-GAAP financial measures presented in this press release are included in the financial tables at the end of this press release. Figma has not reconciled its outlook as to non-GAAP operating income and non-GAAP operating margin to their most directly comparable GAAP measures because certain items that impact non-GAAP operating income and non-GAAP operating margin are out of Figma’s control or cannot be reasonably predicted. Accordingly, reconciliations for forward-looking non-GAAP operating income and non-GAAP operating margin are not available without unreasonable effort. Certain Definitions Figma calculates Annual Recurring Revenue (“ARR”) as the annualized value of Figma’s active customer agreements as of the measurement date, assuming any agreement that expires during the next twelve months following the measurement date is renewed on existing terms. A customer agreement is considered active when seats are provisioned to the customer at the start of their subscription. In cases where contracts are signed but not provisioned prior to the measurement date, the customer agreement is counted as active if provisioning takes place no more than 15 days after the measurement date. Figma defines a Paid Customer as a customer account that is billed separately for which Figma has an active paid subscription as of the last day of the applicable period of measurement. A single organization with multiple divisions, segments, subsidiaries, or subscribing teams that are each billed separately are counted as multiple Paid Customers. A customer account is considered active when seats are provisioned to the customer at the start of their subscription. In cases where contracts are signed but not provisioned as of the last date of the applicable period of measurement, the customer account is counted as active if provisioning takes place no more than 15 days after the last day of the applicable period of measurement. Figma defines a Paid Customer with more than $10,000 in ARR as a Paid Customer with a total of $10,000 or more of ARR as of the last day of the applicable period of measurement. Figma defines a Paid Customer with more than $100,000 in ARR as a Paid Customer with $100,000 or more of ARR as of the last day of the applicable period of measurement. Figma calculates Net Dollar Retention Rate as of the applicable period of measurement by starting with the ARR of Paid Customers with more than $10,000 in ARR as of twelve months prior to such date of measurement (“Prior Period ARR”). Figma then calculates the ARR for those same customers as of the applicable period of measurement (“Current Period ARR”). Figma then divides Current Period ARR by Prior Period ARR to calculate Net Dollar Retention Rate for the applicable date of measurement. Figma’s Net Dollar Retention Rate reflects customer expansion, contraction, and customer churn. Figma calculates Net Dollar Retention Rate using ARR from Paid Customers with more than $10,000 in ARR because Figma believes that $10,000 in ARR is an important threshold, as it is a strong indicator of significant paid usage of Figma’s products. Figma calculates Paid Customers with more than $10,000 in ARR consuming AI credits on a weekly basis for a given quarter using the week with the highest number of such users in the quarter. Additional terms are defined in Figma’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, filed or to be filed with the SEC on August 5, 2026. Figma, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts; unaudited) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenue $ 370,083 $ 249,640 $ 703,522 $ 477,839 Cost of revenue(1) 60,472 27,889 129,138 47,341 Gross profit 309,611 221,751 574,384 430,498 Operating expenses(1): Research and development 167,329 83,052 340,303 152,977 Sales and marketing 154,856 97,701 280,424 166,541 General and administrative 104,715 38,922 208,344 69,155 Total operating expenses 426,900 219,675 829,071 388,673 Income (loss) from operations (117,289 ) 2,076 (254,687 ) 41,825 Other income, net 7,614 36,978 3,289 44,252 Income (loss) before income taxes (109,675 ) 39,054 (251,398 ) 86,077 Provision for income taxes 2,477 10,827 3,155 12,968 Net income (loss) $ (112,152 ) $ 28,227 $ (254,553 ) $ 73,109 Less: net income attributable to participating securities — (27,381 ) — (51,332 ) Net income (loss) attributable to common stockholders $ (112,152 ) $ 846 $ (254,553 ) $ 21,777 Net income (loss) per share, basic and diluted: Net income (loss) per share, basic $ (0.21 ) $ — $ (0.48 ) $ 0.10 Net income (loss) per share, diluted $ (0.21 ) $ — $ (0.48 ) $ 0.10 Weighted-average shares outstanding used in computing net income (loss) per share attributable to common stockholders, basic 527,460 215,062 525,542 214,973 Weighted-average shares outstanding used in computing net income (loss) per share attributable to common stockholders, diluted 527,460 231,702 525,542 231,386 ____________________ (1) Includes stock-based compensation, net of amounts capitalized, as follows: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Cost of revenue $ 2,036 $ 218 $ 7,117 $ 218 Research and development 61,777 5,939 140,802 6,136 Sales and marketing 18,815 544 39,765 544 General and administrative 64,926 609 128,868 609 Total $ 147,554 $ 7,310 $ 316,552 $ 7,507 Figma, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) As of June 30, 2026 December 31, 2025 (unaudited) Assets Current assets Cash and cash equivalents $ 445,845 $ 403,469 Digital assets, current 15,820 15,575 Marketable securities 1,221,293 1,252,474 Accounts receivable, net 190,876 247,915 Prepaid expenses and other current assets 103,206 85,267 Total current assets 1,977,040 2,004,700 Property and equipment, net 38,321 19,996 Intangible assets, net 13,371 19,083 Digital assets, non-current 10,115 15,116 Goodwill 101,396 101,396 Operating lease right-of-use assets 62,320 57,411 Restricted cash 9,800 9,799 Other assets 138,911 120,706 Total assets $ 2,351,274 $ 2,348,207 Liabilities and stockholders’ equity Accounts payable $ 26,149 $ 4,502 Accrued and other current liabilities 91,557 66,535 Accrued compensation and benefits 53,528 107,105 Operating lease liabilities, current 8,661 2,630 Deferred revenue 626,783 595,334 Total current liabilities 806,678 776,106 Operating lease liabilities, non-current 59,090 55,845 Other non-current liabilities 7,599 5,615 Total liabilities 873,367 837,566 Stockholders’ equity: Common stock 4 4 Additional paid-in capital 3,178,403 2,950,007 Accumulated other comprehensive income (loss) (2,574 ) 4,003 Accumulated deficit (1,697,926 ) (1,443,373 ) Total stockholders’ equity 1,477,907 1,510,641 Total liabilities and stockholders’ equity $ 2,351,274 $ 2,348,207 Figma, Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (in thousands; unaudited) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Cash flows from operating activities: Net income (loss) $ (112,152 ) $ 28,227 $ (254,553 ) $ 73,109 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 4,226 3,611 10,323 5,132 Non-cash operating lease costs 6,286 4,594 10,873 8,699 Stock-based compensation, net of amounts capitalized 147,554 7,310 316,552 7,507 Amortization of deferred commissions 6,984 4,992 13,495 9,698 Net accretion of discounts on available-for-sale securities (2,259 ) (4,135 ) (4,733 ) (8,981 ) Unrealized (gains) losses on equity investments, net 4,408 (22,121 ) 20,019 (13,855 ) Remeasurement loss on digital assets, non-current 1,672 — 5,001 — Other non-cash adjustments (680 ) 1,529 1,802 1,343 Changes in assets and liabilities: Accounts receivable, net (2,918 ) (12,207 ) 56,594 5,784 Prepaid expenses and other current assets (8,592 ) 6,293 (17,398 ) (2,871 ) Other assets (8,886 ) (7,837 ) (27,075 ) (10,271 ) Accounts payable 17,405 8,594 21,565 7,711 Accrued and other current liabilities 6,481 4,266 15,938 8,652 Accrued compensation and benefits 387 16,559 (43,635 ) 19,848 Deferred revenue (881 ) 26,511 31,449 51,784 Other non-current liabilities 1,858 (3,731 ) 1,984 (3,657 ) Net cash provided by operating activities 60,893 62,455 158,201 159,632 Cash flows from investing activities: Purchase of intangible assets (2,780 ) — (2,780 ) — Capital expenditures (6,688 ) (1,134 ) (14,500 ) (2,008 ) Capitalized internal-use software development costs (995 ) (718 ) (1,883 ) (2,439 ) Cash paid for business combinations, net of cash acquired — (21,004 ) — (21,004 ) Purchases of marketable securities (157,710 ) (286,827 ) (420,646 ) (525,632 ) Proceeds from maturities of marketable securities 157,052 220,725 345,173 475,836 Proceeds from sales of marketable securities 5,370 44,282 81,119 72,483 Purchase of digital assets — (30,000 ) — (30,000 ) Other cash flows from investing activities (500 ) (150 ) (183 ) (811 ) Net cash used in investing activities (6,251 ) (74,826 ) (13,700 ) (33,575 ) Cash flows from financing activities: Payment of deferred offering costs, net of costs reimbursed — (3,454 ) — (3,454 ) Cash paid for issuance costs on revolving credit facility — (1,400 ) — (1,400 ) Proceeds from options exercised 18,465 20,311 47,316 20,650 Proceeds from issuance of common stock under employee stock purchase plan 13,205 — 13,205 — Taxes paid related to net share settlement of equity awards (45,489 ) — (161,648 ) — Other cash flows from financing activities 100 (12 ) (128 ) (12 ) Net cash provided by (used in) financing activities (13,719 ) 15,445 (101,255 ) 15,784 Change in cash, cash equivalents, and restricted cash 40,923 3,074 43,246 141,841 Cash, cash equivalents, and restricted cash—beginning of period 415,514 629,352 413,191 490,585 Cash, cash equivalents, and restricted cash—end of period $ 456,437 $ 632,426 $ 456,437 $ 632,426 Figma, Inc. RECONCILIATION FROM GAAP TO NON-GAAP RESULTS (in thousands except percentages; unaudited) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Reconciliation of gross profit and gross margin GAAP gross profit $ 309,611 $ 221,751 $ 574,384 $ 430,498 Plus: Stock-based compensation expense 2,036 218 7,117 218 Plus: Amortization of stock-based compensation included in capitalized internal use software development costs 308 188 566 274 Plus: Amortization of acquired intangibles from acquisitions 1,909 1,797 5,795 1,797 Plus: Employer payroll taxes on employee stock transactions 135 — 696 — Non-GAAP gross profit $ 313,999 $ 223,954 $ 588,558 $ 432,787 GAAP gross margin 84 % 89 % 82 % 90 % Non-GAAP gross margin 85 % 90 % 84 % 91 % Reconciliation of operating expenses GAAP research and development $ 167,329 $ 83,052 $ 340,303 $ 152,977 Less: Stock-based compensation expense (61,777 ) (5,939 ) (140,802 ) (6,136 ) Less: Employer payroll taxes on employee stock transactions (2,256 ) — (8,141 ) — Less: Impairment losses on long-lived assets — — (2,371 ) — Non-GAAP research and development $ 103,296 $ 77,113 $ 188,989 $ 146,841 GAAP sales and marketing $ 154,856 $ 97,701 $ 280,424 $ 166,541 Less: Stock-based compensation expense (18,815 ) (544 ) (39,765 ) (544 ) Less: Employer payroll taxes on employee stock transactions (703 ) — (4,823 ) — Less: Amortization of acquired intangibles from acquisitions (125 ) (101 ) (250 ) (101 ) Non-GAAP sales and marketing $ 135,213 $ 97,056 $ 235,586 $ 165,896 GAAP general and administrative $ 104,715 $ 38,922 $ 208,344 $ 69,155 Less: Stock-based compensation expense (64,926 ) (609 ) (128,868 ) (609 ) Less: Employer payroll taxes on employee stock transactions (392 ) — (3,719 ) — Non-GAAP general and administrative $ 39,397 $ 38,313 $ 75,757 $ 68,546 Reconciliation of operating income (loss) and operating margin GAAP operating income (loss) $ (117,289 ) $ 2,076 $ (254,687 ) $ 41,825 Plus: Stock-based compensation expense 147,554 7,310 316,552 7,507 Plus: Amortization of stock-based compensation included in capitalized internal use software development costs 308 188 566 274 Plus: Employer payroll taxes on employee stock transactions 3,486 — 17,379 — Plus: Amortization of acquired intangibles from acquisitions 2,034 1,898 6,045 1,898 Plus: Impairment losses on long-lived assets — — 2,371 — Non-GAAP operating income $ 36,093 $ 11,472 $ 88,226 $ 51,504 GAAP operating margin (32 )% 1 % (36 )% 9 % Non-GAAP operating margin 10 % 5 % 13 % 11 % Figma, Inc. RECONCILIATION FROM GAAP TO NON-GAAP RESULTS (in thousands; unaudited) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Reconciliation of net income (loss) GAAP net income (loss) $ (112,152 ) $ 28,227 $ (254,553 ) $ 73,109 Plus: Stock-based compensation expense 147,554 7,310 316,552 7,507 Plus: Amortization of stock-based compensation included in capitalized internal use software development costs 308 188 566 274 Plus: Employer payroll taxes on employee stock transactions(1) 3,486 — 17,379 — Plus: Amortization of acquired intangibles from acquisitions 2,034 1,898 6,045 1,898 Plus: Impairment losses on long-lived assets — — 2,371 — Plus: Equity investment (gains) losses, net 4,408 (22,072 ) 19,355 (13,744 ) Plus: Remeasurement losses on digital assets, non-current 1,672 — 5,001 — Less: Income tax effects of non-GAAP adjustments(2) 4,743 (4,232 ) 13,646 7,535 Non-GAAP net income $ 42,567 $ 19,783 $ 99,070 $ 61,509 Less: Non-GAAP net income attributable to participating securities — (19,783 ) — (45,142 ) Non-GAAP net income attributable to common stockholders $ 42,567 $ — $ 99,070 $ 16,367 Plus: Reallocation of Non-GAAP net income to common stockholders considering potentially dilutive securities — — — 644 Non-GAAP net income attributable to common stockholders considering potentially dilutive securities $ 42,567 $ — $ 99,070 $ 17,011 Weighted-average shares outstanding used to compute Non-GAAP net income per share, basic 527,460 215,062 525,542 214,973 Weighted-average shares outstanding used to compute Non-GAAP net income per share, diluted 542,583 231,702 543,704 231,386 Non-GAAP net income per share, basic $ 0.08 $ — $ 0.19 $ 0.08 Non-GAAP net income per share, diluted $ 0.08 $ — $ 0.18 $ 0.07 ____________________ (1) Employer payroll taxes on employee stock transactions for the three and six months ended June 30, 2026 were primarily related to employer taxes paid on Figma’s restricted stock unit releases. (2) Income tax effects of non-GAAP adjustments are calculated based on a projected tax rate of 14.5% for the three and six months ended June 30, 2026, and 25% for the three and six months ended June 30, 2025. The projected tax rate decrease is primarily attributable to the release of a non-GAAP valuation allowance, resulting from an updated assessment of deferred tax asset realizability based on revised non-GAAP future taxable income projections at the end of 2025. Figma will periodically re-evaluate this tax rate, for significant events, relevant tax law changes, material changes in the forecasted geographic earnings mix, and any significant acquisitions. Figma, Inc. RECONCILIATION OF GAAP CASH FLOW FROM OPERATING ACTIVITIES TO FREE CASH FLOW (in thousands, except percentages; unaudited) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net cash provided by operating activities(1) $ 60,893 $ 62,455 $ 158,201 $ 159,632 (6,688 ) (1,134 ) (14,500 ) (2,008 ) (995 ) (718 ) (1,883 ) (2,439 ) Free Cash Flow $ 53,210 $ 60,603 $ 141,818 $ 155,185 Net cash provided by (used in) investing activities $ (6,251 ) $ (74,826 ) $ (13,700 ) $ (33,575 ) Net cash provided by (used in) financing activities $ (13,719 ) $ 15,445 $ (101,255 ) $ 15,784 Operating Cash Flow Margin 16 % 25 % 22 % 33 % Free Cash Flow Margin(2) 14 % 24 % 20 % 33 % ____________________ (1) Net cash provided by operating activities for the six months ended June 30, 2026 includes the impact of a $56.1 million payment under Figma’s annual corporate bonus program, accrued during the year ended December 31, 2025, with no comparable payment in the prior year period. (2) Free Cash Flow Margin is a non-GAAP financial measure that is calculated as Free Cash Flow divided by revenue. Source: Figma, Inc.