Figma revenue growth accelerates to 46% as Q1 sales hit $333M

Figma (NYSE:FIG) reported a significant acceleration in revenue growth for the first quarter of 2026, outperforming its internal projections as demand for its collaborative design platform reached new highs.

The San Francisco-based company posted revenue of $333.4 million for the three months ended March 31, 2026, representing a 46% increase compared to the same period a year earlier.

This performance marks a notable trend of rising momentum, as year-over-year revenue growth climbed from 40% in the fourth quarter of 2025 and 38% in the third quarter of 2025.

On a GAAP basis, Figma reported a loss from operations of $137.4 million, resulting in an operating margin of negative 41%.

The GAAP net loss for the period was $142.4 million, or $0.27 per share.

However, when adjusting for share-based compensation and other non-cash items, the company’s underlying profitability remained positive.

Non-GAAP operating income reached $52.1 million, reflecting a 16% margin, while non-GAAP net income stood at $56.5 million.

Figma’s cash generation remained robust during the quarter.

The company reported net cash provided by operating activities of $97.3 million, equivalent to a 29% operating cash flow margin.

Free cash flow for the quarter was $88.6 million, representing a free cash flow margin of 27%.

The company concluded the first quarter with a strong balance sheet, reporting $1.6 billion in cash, cash equivalents, and marketable securities.

This liquidity provides Figma with a substantial buffer to navigate the competitive landscape of digital product design and enterprise software-as-a-service (SaaS).