Equity Profile

FIG

Figma, Inc.

Information TechnologyApplication Software$11.5B

Aug14Fri

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Figma, Inc. is a software company that provides a collaborative design platform, primarily used for interface design and prototyping....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will help investors gauge the company's financial health this quarter.

N/A

Revenue Growth

Revenue growth is critical for assessing the company's ability to expand its market share and sustain operations.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

FIG Q2-2026 Earnings Preview

Context

Company Snapshot

Figma, Inc. is a software company that provides a collaborative design platform, primarily used for interface design and prototyping. As part of the Information Technology sector, Figma is positioned within the growing application software industry, which is increasingly important as businesses adopt digital tools for remote collaboration and design efficiency.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

+55.56%

Avg Stock Reaction

+1.44%

Last Quarter Recap

In Q1 2026, Figma reported an EPS of $0.10, significantly beating analyst expectations of a loss. The stock reacted positively, gaining 6.86% the following day.

Management Promises & Guidance

Continued focus on enhancing user experience and platform capabilities.
Commitment to expanding their customer base through targeted marketing efforts.
Plans to introduce new features that cater to enterprise clients.

Expectations

Wall Street Expectations

Overall, expectations for Figma's upcoming earnings are mixed, given the lack of analyst estimates and management guidance. Investors are keen to see if the company can maintain its positive momentum from the last quarter.

Bull Case

If Figma continues to beat EPS expectations and shows strong revenue growth, it could signal robust demand for its platform, leading to further stock appreciation.

Bear Case

Conversely, if the company fails to meet growth expectations or shows signs of slowing user adoption, it could lead to a significant drop in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported EPS for Q2-2026?

Given Figma's strong EPS surprises in recent quarters, this figure will be crucial for maintaining investor confidence.

How many new users were added this quarter?

User growth is a key indicator of Figma's market traction and future revenue potential, making it a focal point for investors.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Figma's ability to leverage its recent product enhancements to drive user growth and revenue.

Supporting Evidence

Figma has consistently beaten EPS estimates, suggesting stronger underlying demand than analysts expect.

The options market is pricing in a significant move, indicating that investors are anticipating a notable change in sentiment.

Recent trends in remote work suggest a growing need for collaborative design tools, which Figma is well-positioned to capitalize on.

Key Risk

If user growth exceeds 10% this quarter, it could challenge the cautious outlook currently held by analysts.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis revolves around whether Figma can sustain its recent growth trajectory in a competitive market.

Bull Confirmed If

An EPS of $0.15 or higher would confirm strong profitability and growth momentum.

Bear Confirmed If

An EPS below $0.05 would raise concerns about slowing growth and profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±31.53%

Historical Avg

±4.9%

Pricing rich

The options market is pricing in a significant potential move, indicating heightened uncertainty or anticipation around the earnings report.

Options are pricing ±31.5% while FIG has averaged ±4.9% over the last 4 prints — setup is pricing rich.

Detail

ATM IV

0.9%

30d HV

84.0%

Calls (4.4M)P/C Ratio: 0.19Puts (433K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Figma beats expectations, history suggests a potential stock increase of around 2.55%, confirming ongoing strong demand.

In-Line / Cautious

If results are in line but management expresses caution, the stock may react neutrally, reflecting uncertainty.

Miss

If Figma misses expectations, history suggests a potential decline, with an average move of around -3.93%.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·2 sells

Members

House only

Est. Notional

$16,002.00–$65,000.00

disclosed dollar ranges

Most Active Members

D-LACleo FieldsRep.
2

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new feature rollouts and their impact on user engagement.
2Insights into customer acquisition strategies and success rates.
3Management's outlook on competitive pressures in the design software market.
4Details on partnerships or collaborations that could enhance product offerings.
5Feedback on user satisfaction and retention metrics.

See the full picture

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Company Snapshot

Figma, Inc. is a software company that provides a collaborative design platform, primarily used for interface design and prototyping....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will help investors gauge the company's financial health this quarter.

N/A

Revenue Growth

Revenue growth is critical for assessing the company's ability to expand its market share and sustain operations.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

FIG Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

+55.56%

Avg Stock Reaction

+1.44%

Last Quarter Recap

In Q1 2026, Figma reported an EPS of $0.10, significantly beating analyst expectations of a loss. The stock reacted positively, gaining 6.86% the following day.

Management Promises & Guidance

Continued focus on enhancing user experience and platform capabilities.
Commitment to expanding their customer base through targeted marketing efforts.
Plans to introduce new features that cater to enterprise clients.

Expectations

Wall Street Expectations

Bull Case

If Figma continues to beat EPS expectations and shows strong revenue growth, it could signal robust demand for its platform, leading to further stock appreciation.

Bear Case

Conversely, if the company fails to meet growth expectations or shows signs of slowing user adoption, it could lead to a significant drop in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported EPS for Q2-2026?

Given Figma's strong EPS surprises in recent quarters, this figure will be crucial for maintaining investor confidence.

How many new users were added this quarter?

User growth is a key indicator of Figma's market traction and future revenue potential, making it a focal point for investors.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Figma's ability to leverage its recent product enhancements to drive user growth and revenue.

Supporting Evidence

Figma has consistently beaten EPS estimates, suggesting stronger underlying demand than analysts expect.

The options market is pricing in a significant move, indicating that investors are anticipating a notable change in sentiment.

Recent trends in remote work suggest a growing need for collaborative design tools, which Figma is well-positioned to capitalize on.

Key Risk

If user growth exceeds 10% this quarter, it could challenge the cautious outlook currently held by analysts.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis revolves around whether Figma can sustain its recent growth trajectory in a competitive market.

Bull Confirmed If

An EPS of $0.15 or higher would confirm strong profitability and growth momentum.

Bear Confirmed If

An EPS below $0.05 would raise concerns about slowing growth and profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±31.53%

Historical Avg

±4.9%

Pricing rich

The options market is pricing in a significant potential move, indicating heightened uncertainty or anticipation around the earnings report.

Options are pricing ±31.5% while FIG has averaged ±4.9% over the last 4 prints — setup is pricing rich.

Detail

ATM IV

0.9%

30d HV

84.0%

Calls (4.4M)P/C Ratio: 0.19Puts (433K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Figma beats expectations, history suggests a potential stock increase of around 2.55%, confirming ongoing strong demand.

In-Line / Cautious

If results are in line but management expresses caution, the stock may react neutrally, reflecting uncertainty.

Miss

If Figma misses expectations, history suggests a potential decline, with an average move of around -3.93%.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·2 sells

Members

House only

Est. Notional

$16,002.00–$65,000.00

disclosed dollar ranges

Most Active Members

D-LACleo FieldsRep.
2

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new feature rollouts and their impact on user engagement.
2Insights into customer acquisition strategies and success rates.
3Management's outlook on competitive pressures in the design software market.
4Details on partnerships or collaborations that could enhance product offerings.
5Feedback on user satisfaction and retention metrics.