Equity Profile

FIG

Figma, Inc.

Information TechnologyApplication Software$12.4B

Aug14Fri

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Figma, Inc. operates in the Information Technology sector, focusing on application software that enables collaborative design and prototyping....

Key Metrics to Watch

User Growth

Tracking user growth is crucial as it indicates the demand for Figma's services and potential revenue growth.

N/A

Revenue Growth Rate

The revenue growth rate is a key indicator of how well Figma is expanding its market share and monetizing its user base.

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. operates in the Information Technology sector, focusing on application software that enables collaborative design and prototyping. As remote work and digital collaboration continue to grow, Figma's tools are increasingly relevant for teams looking to streamline their design processes.

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 earnings per share (EPS) of $0.10, significantly beating expectations of a loss. The stock reacted positively, gaining 6.86% the following day.

Management Promises & Guidance

Continue to enhance product features to improve user experience.
Expand marketing efforts to attract new users.
Focus on customer feedback to drive product development.

Expectations

Wall Street Expectations

Overall, expectations are mixed as Figma has consistently beaten EPS estimates in recent quarters, but there is uncertainty regarding revenue growth and user metrics.

Bull Case

If Figma continues its trend of beating EPS expectations and shows strong user growth, it could lead to significant stock appreciation.

Bear Case

Conversely, if user growth stagnates or revenue growth slows, it could lead to a negative reaction in the stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current user growth rate compared to last quarter?

User growth is critical for Figma's long-term success and will heavily influence investor sentiment.

How has the average revenue per user changed this quarter?

Changes in ARPU will indicate how effectively Figma is monetizing its user base, which is essential for revenue growth.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may underestimate Figma's ability to sustain user growth despite potential economic headwinds, as its collaborative tools are essential for remote work.

Supporting Evidence

Figma's recent product enhancements have received positive feedback, indicating potential for user retention and growth.

The options market suggests a high level of expected volatility, which could indicate that traders are anticipating significant news.

Figma's historical EPS surprises suggest that the company may continue to outperform expectations.

Key Risk

If user growth comes in below 5%, it could challenge the bullish narrative surrounding Figma's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on user growth and revenue metrics, which are critical for sustaining investor confidence.

Bull Confirmed If

User growth of over 15% quarter-over-quarter would confirm the bull case.

Bear Confirmed If

User growth below 5% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±31.53%

Historical Avg

±4.9%

Pricing rich

The options market is pricing in a significant move, indicating that traders expect volatility 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)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Information Technology

n=30

Fade rate: 5 of 9 (56%)

This setup has occurred 30 times across Information Technology in the last 2 years. 5 of 9 faded and 4 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 4.2%, with a raw directional average of -0.7% (modestly negative historical bias).

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 strong operational momentum.

In-Line / Cautious

An in-line report may lead to a muted response, as investors await clearer guidance on future growth.

Miss

A miss could lead to a decline, with historical patterns indicating a potential drop of around 3.93%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on user growth metrics compared to previous quarters.
2Details on changes in average revenue per user.
3Insights into product development and feature enhancements.
4Management's outlook on future market conditions and competition.
5Feedback from customers regarding recent product updates.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Figma, Inc. operates in the Information Technology sector, focusing on application software that enables collaborative design and prototyping....

Key Metrics to Watch

User Growth

Tracking user growth is crucial as it indicates the demand for Figma's services and potential revenue growth.

N/A

Revenue Growth Rate

The revenue growth rate is a key indicator of how well Figma is expanding its market share and monetizing its user base.

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 earnings per share (EPS) of $0.10, significantly beating expectations of a loss. The stock reacted positively, gaining 6.86% the following day.

Management Promises & Guidance

Continue to enhance product features to improve user experience.
Expand marketing efforts to attract new users.
Focus on customer feedback to drive product development.

Expectations

Wall Street Expectations

Overall, expectations are mixed as Figma has consistently beaten EPS estimates in recent quarters, but there is uncertainty regarding revenue growth and user metrics.

Bull Case

If Figma continues its trend of beating EPS expectations and shows strong user growth, it could lead to significant stock appreciation.

Bear Case

Conversely, if user growth stagnates or revenue growth slows, it could lead to a negative reaction in the stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current user growth rate compared to last quarter?

User growth is critical for Figma's long-term success and will heavily influence investor sentiment.

How has the average revenue per user changed this quarter?

Changes in ARPU will indicate how effectively Figma is monetizing its user base, which is essential for revenue growth.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may underestimate Figma's ability to sustain user growth despite potential economic headwinds, as its collaborative tools are essential for remote work.

Supporting Evidence

Figma's recent product enhancements have received positive feedback, indicating potential for user retention and growth.

The options market suggests a high level of expected volatility, which could indicate that traders are anticipating significant news.

Figma's historical EPS surprises suggest that the company may continue to outperform expectations.

Key Risk

If user growth comes in below 5%, it could challenge the bullish narrative surrounding Figma's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on user growth and revenue metrics, which are critical for sustaining investor confidence.

Bull Confirmed If

User growth of over 15% quarter-over-quarter would confirm the bull case.

Bear Confirmed If

User growth below 5% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±31.53%

Historical Avg

±4.9%

Pricing rich

The options market is pricing in a significant move, indicating that traders expect volatility 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)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Information Technology

n=30

Fade rate: 5 of 9 (56%)

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 strong operational momentum.

In-Line / Cautious

An in-line report may lead to a muted response, as investors await clearer guidance on future growth.

Miss

A miss could lead to a decline, with historical patterns indicating a potential drop of around 3.93%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on user growth metrics compared to previous quarters.
2Details on changes in average revenue per user.
3Insights into product development and feature enhancements.
4Management's outlook on future market conditions and competition.
5Feedback from customers regarding recent product updates.