Figma (FIG) 10-K Summaries & Annual Filing History
Review Figma, Inc. (FIG) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.
Key takeaway
Year ended Dec 31, 2025 · FY2025 10-K
Figma provides a cloud-based design platform, and its annual revenue grew strongly while operating and net losses remained substantial. The company completed an initial public offering during the period, bolstering its cash position.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$1.1B
Revenue reported for the fiscal year.
Operating income
-$1.3B
Income from operations reported for the year.
Net income
-$1.3B
Net income reported for the year.
Operating cash flow
$250.7M
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2023 | $504.9M | n/a |
| Dec 31, 2024 | $749M | +48.4% |
| Dec 31, 2025 | $1.1B | +41.0% |
Business overview
Figma operates a web-based collaborative design platform used by teams for product design, brainstorming, and prototyping. The business generates revenue primarily from subscription fees for its software, serving customers ranging from individual designers to large enterprises.
Financial performance
Revenue increased significantly compared to the prior period, reflecting continued growth in customer adoption. Despite higher revenue, the company reported a sizeable operating loss and a similar net loss, indicating substantial investment spending.
Material risks
The company faces risks from intense competition in the design software market and dependence on retaining and expanding its customer base. Additionally, fluctuations in the value of digital assets, including Bitcoin and stablecoin holdings, could affect financial results.
Liquidity and capital
Liquidity is supported by cash, cash equivalents, marketable securities, and digital asset holdings, as well as a revolving credit facility. The recent initial public offering provided additional net proceeds to fund operations and investments.
What to watch
Monitor changes in the fair value of the company's Bitcoin holdings and its digital asset strategy.