Figma Stock Jumps On Q1 Earnings Beat As Customers Go 'Bigger And Broader'

Figma Inc (NYSE:FIG) reported financial results for the first quarter on Thursday after the closing bell. Here’s a look at the highlights from the quarter.

• Figma shares are trending. What’s fueling FIG momentum?

Figma Q1 Highlights

Figma, which makes collaborative web-based software, reported revenue of $333.44 million for the first quarter, beating estimates of $313.16 million, per Benzinga Pro. The company reported adjusted earnings of 10 cents per share, beating estimates of six cents per share.

Total revenue was up 46% year-over-year. Figma generated $97.3 million of net cash from operations and $88.6 million of adjusted free cash flow during the quarter.

“Q1 was an incredible quarter for Figma: revenue growth accelerated for the second consecutive quarter and customers are going bigger and broader with Figma than ever before,” said Dylan Field, co-founder and CEO of Figma.

Figma ended the period with $1.6 billion in cash, cash equivalents and marketable securities.

Figma expects second-quarter revenue to be in the range of $348 million to $350 million, versus estimates of $326.98 million. The company also raised its full-year revenue outlook from a range of $1.366 billion to $1.374 billion to a new range of $1.422 billion to $1.428 billion, versus estimates of $1.362 billion.

Figma executives will further discuss the quarter on an earnings call set for 5 p.m. ET.

FIG Shares Rise After Hours

FIG Price Action: Figma shares were up 7.81% in after-hours Thursday, trading at $21.82 at the time of publication, according to Benzinga Pro.

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