Figma Beats Q3, Guides Q4 Revenue to $402M-$404M and Raises FY26 Revenue Outlook to $1.5B

Figma (FIG) reported third-quarter 2026 revenue of $391.4 million, up 43% from a year earlier and above the $376.4 million estimate, while adjusted EPS of $0.10 beat the $0.05 estimate. The company guided fourth-quarter revenue to $402 million to $404 million, above the $390 million estimate, and raised its full-year revenue outlook to $1.497 billion to $1.499 billion.

Shares fell about 6% in after-hours trading, to $20.80 from a $22.13 close that was up 5.2% on the day.

Q3 scorecard

Revenue beat the estimate by about $15 million and finished $16.4 million above the high end of the company's $373 million to $375 million third-quarter guidance. Third-quarter 2025 revenue was $274.2 million and adjusted EPS was $0.10. Second-quarter 2026 revenue was $370.1 million and adjusted EPS was $0.08.

Profitability and margin

• Operating income. Non-GAAP operating income was $47.0 million, up from $34.0 million a year earlier and $36.1 million in the second quarter. That is a 12.0% margin, against 12.4% a year earlier and 9.8% in the second quarter.
• Gross margin. Non-GAAP gross margin was 82%, down 400 basis points from 86% a year earlier and down from 85% in the second quarter.

Customers and retention

• Net dollar retention. Net dollar retention was 131%, the same as a year earlier and down from 136% in the second quarter.
• Customers above $10,000. Customers with more than $10,000 in annual recurring revenue (ARR) numbered 16,566, up 28% from 12,910 a year earlier and up from 15,964 in the second quarter.
• Customers above $100,000. Customers with more than $100,000 in ARR numbered 1,717, up 36% from 1,262 a year earlier and up from 1,635 in the second quarter.

AI and product updates

• MCP. Usage of Figma's Model Context Protocol (MCP) integration tripled from the second quarter, write-back usage rose fourfold, and the company has 20 partners.
• Figma agent. 65% of customers with more than $10,000 in ARR use the Figma agent, and more than 80% are consuming AI credits.

Outlook

The full-year revenue midpoint rises $33 million, or 2.3%, to $1.498 billion, and the operating income midpoint rises $30.5 million, or 23.5%, to $160.5 million. At the midpoints, that implies a 10.7% operating margin, against 8.9% in the prior outlook. The fourth-quarter revenue midpoint of $403 million is 3.3% above the $390 million estimate.

What to watch

• Retention. Whether net dollar retention stabilizes after falling to 131% from 136% in the second quarter.
• Gross margin. Whether non-GAAP gross margin stays near 82% after the 400 basis point decline from a year earlier.
• AI adoption. Whether use of the Figma agent and MCP keeps expanding across customers above $10,000 in ARR.
• Related coverage. See our reports on Palantir and Fastly.

Sources: Results are from Figma's third-quarter 2026 report. Estimates are consensus figures. Prior guidance, second-quarter 2026 and third-quarter 2025 comparison figures are from the company's earlier releases. This article is informational only and is not investment advice.

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