Figma Stock Tanks 14% After-Hours In First Post-IPO Earnings: Here's What Spooked Investors

Figma shares tumbled over 14% in Wednesday's extended trading after the design software maker reported its first quarterly report as a public company.

The stock was among the top five trending equity tickers on the Stocktwits platform late Wednesday. Notwithstanding the after-hours drop, retail user sentiment toward Figma stock flipped to 'extremely bullish' (75/100) by late Wednesday from 'bearish' a day ago. The message volume also improved to 'extremely high.'

One bullish user said they took advantage of the post-earnings drop and added a few Figma shares.

Another user said the shorts would collapse on Thursday. Calling the guidance excellent, they said the company is growing. They also stated that they had placed orders for 1,200 shares at $58.4. According to Koyfin data, short interest in the stock is at nearly a percent, the highest since its debut.

Figma, which Adobe once pursued, made a high-profile debut in late July. The stock was listed on the NYSE on July 31 at $85, markedly higher than the initial public offering (IPO) price of $33. After closing the debut session at $115.50, the stock peaked at $142.92 on the second day and has pulled back notably since then.

San Francisco-based Figma's key numbers for the fourth quarter of the fiscal year 2025 are as follows:

• GAAP bottom-line results: breakeven results versus a loss per share of $4.39 last year
• Non-GAAP net income: $19.78 million Vs. $14.28 million last year
• Revenue: $221.75 million Vs. $137.64 million last year

The revenue compares to the $247 million to $250 million range the company provided in a July filing. Adjusted operating income was $11.5 million versus the company's estimate of $9 million to $12 million.

Figma co-founder and CEO Dylan Field said,“We delivered record revenue in Q2 as we continued to innovate with the launch of four new products.”

“Looking ahead, we're excited to keep building for our customers and help define the next era of digital products and experiences. Design is more important than ever, and we have so much more to build.”

According to some reports, Field's remarks about making large investments in AI may have unsettled some investors.“We do plan to take big swings if and when we see opportunities to invest both organically and inorganically,” he told analysts after the results.“We know this approach won't resonate with everyone, but we believe we have a massive opportunity in front of us and we intend to capture it.”

Figma estimates third-quarter revenue of $263 million to $265 million, and full-year revenue of $1.021 billion to $1.025 billion. Analysts, on average, estimate revenue of $1.02 billion for the year, according to Stocktwits.

Figma stock has lost about 41% since its July 31 debut.

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