Figma has publicly shared its financials, taking the design software company closer to an initial public offering (IPO). The S-1 filing provides insight into Figma’s financial health and potential.
The company’s revenue grew 48% in 2024 compared to 2023, reaching $749 million. In the first quarter of 2025, it saw a further 46% year-over-year growth in revenue. Additionally, Figma reported rolling 12-month revenue of $821 million with a 91% gross margin.
Figma’s profit history is marked by a large loss of $732 million in 2023, but this was largely due to one-time expenses related to employee stock compensation. The company has since regained profitability and reports profits again in both the fourth quarter of 2024 and the first quarter of 2025.
The company also calculates its total debt as negligible, with a revolving debt line left room for future updates. Major backers include Index, Greylock, Kleiner Perkins, and Sequoia.
However, Figma acknowledges potential risks due to the rise of AI in the design industry. The company has made significant investments in integrating AI into its platform but recognizes that AI technologies are rapidly evolving and may impact competitiveness.
Renaissance Capital estimates Figma could raise up to $1.5 billion in this offering, potentially matching or beating CoreWeave’s record-breaking tech IPO of 2025.
Source: https://techcrunch.com/2025/07/01/figma-moves-closer-to-a-blockbuster-ipo-that-could-raise-1-5b