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Figma (FIG)

Market Price (7/6/2026): $21.32 | Market Cap: $11.2 BilSector: Information Technology | Industry: Application Software

Figma (FIG)

Market Price (7/6/2026): $21.32
Market Cap: $11.2 Bil
Sector: Information Technology
Industry: Application Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -14%

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 41%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -47%

Megatrend and thematic drivers
Megatrends include Cloud Computing, and Future of Work. Themes include Software as a Service (SaaS), and Collaborative Software.

Weak multi-year price returns
2Y Excs Rtn is -118%, 3Y Excs Rtn is -152%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -1.5 Bil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -126%

Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 45x

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 132%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -17%

Key risks
FIG key risks include [1] margin pressure and an existential threat from AI-native competitors, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -14%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 41%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%
3 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -47%
4 Megatrend and thematic drivers
Megatrends include Cloud Computing, and Future of Work. Themes include Software as a Service (SaaS), and Collaborative Software.
5 Weak multi-year price returns
2Y Excs Rtn is -118%, 3Y Excs Rtn is -152%
6 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15%
7 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -1.5 Bil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -126%
8 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 45x
9 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 132%
10 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -17%
11 Key risks
FIG key risks include [1] margin pressure and an existential threat from AI-native competitors, Show more.

FIG in ETFs

Weight = FIG's share of each fund

VTI0.01%
IWB0.01%
VB0.08%
ARKW1.1%
ARKK0.46%
VBR0.15%
IWS0.04%
IWR0.03%
+4 more covered ETFs

Valuation & Metrics

FYE: 12/31FIG [1]S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]$1.2 Bil—
FY 2026 Sales$1.4 Bil—
FY 2027 Sales$1.8 Bil—
FY 2026 Sales Growth23.5%—
FY 2027 Sales Growth22.5%8.1%
EARNINGS
LTM Net Income (GAAP) [3]$-1.5 Bil—
FY 2026 Net Income (Non-GAAP)$141.6 Mil—
FY 2027 Net Income (Non-GAAP)$177.1 Mil—
FY 2027 Net Income Growth25.1%17.0%
FY 2026 EPS (Non-GAAP)$0.28—
FY 2027 EPS (Non-GAAP)$0.35—
FY 2027 EPS Growth24.9%—
VALUATION
FY 2026 P/S7.83.2
FY 2027 P/S6.4—
FY 2026 P/E78.819.5
FY 2027 P/E63.0—

[1] FIG forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 7/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).
FIGS&P 500
REVENUE GROWTHVERY GOOD
Rev LTM ($ Bil)1.2
Rev Chg Q46.1%8.9%
Rev Chg LTM41.4%7.5%
Rev Chg 3Y Avg45.1%5.9%
PROFITABILITYVERY POOR
Op Inc LTM ($ Bil)-1.5
CFO LTM ($ Bil)0.3
Net Inc LTM ($ Bil)-1.5
Op Mgn LTM-126.4%18.5%
CFO/Rev LTM21.6%21.4%
Net Inc Mgn-126.2%13.1%
VALUATIONVERY HIGH
P/S9.63.4
P/CFO44.515.5
P/FCF48.220.2
P/E-7.625.1
STABILITYVERY GOOD
Debt/Equity0.010.20
Cash/Assets0.720.07

AI Analysis | Feedback

MetricValueDateSource
Monthly Active Users13 million3312025Link
Net Dollar Retention Rate132%3312025Link
Total Usersover 10 million112025Link
Market Share in Design Tools40.65%8252025Link
Paid Customers with >$10,000 in ARR119066302025Link
Paid Customers with >$100,000 in ARR11196302025Link
Percentage of Fortune 500 Companies Using Figma95%3312025Link
Total Paying Customer Accountsapproximately 450,0003312025Link
Percentage of Weekly Active Users outside the United Statesalmost 85%3312025Link
Percentage of Customers Using Two or More Productsmore than 80%6302025Link

Price Chart

Upcoming
8/14/2026Earnings ReleaseRev: $350 Mil (E)
EPS: $0.04 (E)
9/02/2026Earnings ReleaseRev: $363 Mil (E)
EPS: $0.04 (E)

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 7/4/2026

Figma (FIG) stock has remained largely at the same level since 3/31/2026 because of the following key factors:

1. Strong Fiscal Q1 2026 Earnings and Raised Full-Year Guidance provided a fundamental floor for the stock. Figma reported robust financial results for its fiscal Q1 2026 (ended March 31, 2026) on May 14, 2026, with revenue growing 46% year-over-year to $333.4 million, exceeding its previously issued guidance. The company also announced an EPS of $0.10, surpassing the consensus estimate of -$0.17. Furthermore, Figma raised its full-year fiscal 2026 revenue outlook by $55 million, projecting a range of $1.422 billion to $1.428 billion, implying 35% year-over-year growth at the midpoint. This strong performance and optimistic outlook likely provided significant underlying support, helping to stabilize the stock's value.

2. Successful Monetization of AI Features demonstrated a clear path to revenue growth. A key factor contributing to Figma's positive fiscal Q1 2026 results was the effective monetization of its artificial intelligence (AI) features. Following the implementation of AI credit limits in March 2026, management reported during the Q1 earnings call that over 75% of Organization and Enterprise users who exceeded their limits continued to purchase additional credits by late April 2026, with more than 95% remaining active on the platform. This indicated that increased AI usage, driven by tools such as Figma Make, MCP, and Figma Weave, was successfully translating into revenue, boosting investor confidence in the company's AI strategy.

Show more
Updated on 7/4/2026

Figma (FIG) stock has remained largely at the same level since 3/31/2026 because of the following key factors:

1. Strong Fiscal Q1 2026 Earnings and Raised Full-Year Guidance provided a fundamental floor for the stock. Figma reported robust financial results for its fiscal Q1 2026 (ended March 31, 2026) on May 14, 2026, with revenue growing 46% year-over-year to $333.4 million, exceeding its previously issued guidance. The company also announced an EPS of $0.10, surpassing the consensus estimate of -$0.17. Furthermore, Figma raised its full-year fiscal 2026 revenue outlook by $55 million, projecting a range of $1.422 billion to $1.428 billion, implying 35% year-over-year growth at the midpoint. This strong performance and optimistic outlook likely provided significant underlying support, helping to stabilize the stock's value.

2. Successful Monetization of AI Features demonstrated a clear path to revenue growth. A key factor contributing to Figma's positive fiscal Q1 2026 results was the effective monetization of its artificial intelligence (AI) features. Following the implementation of AI credit limits in March 2026, management reported during the Q1 earnings call that over 75% of Organization and Enterprise users who exceeded their limits continued to purchase additional credits by late April 2026, with more than 95% remaining active on the platform. This indicated that increased AI usage, driven by tools such as Figma Make, MCP, and Figma Weave, was successfully translating into revenue, boosting investor confidence in the company's AI strategy.

3. Mixed Analyst Sentiment and Price Target Adjustments contributed to a consolidated stock performance. Throughout the period from fiscal Q2 2026 into early fiscal Q3 2026, analyst consensus ratings for Figma largely remained "Hold". While some firms maintained "Buy" ratings, others adjusted their price targets downward. For example, Wells Fargo lowered its price target to $36 from $42 on June 26, 2026, and RBC Capital reduced its target to $22 from $28 on June 25, 2026. This varied and at times cautious analyst perspective, coupled with an average twelve-month price target of $37.00 from 16 analysts, suggested limited immediate upside potential while also establishing a perceived value floor, thus contributing to the stock's largely stable trend.

4. Broader Software Sector Headwinds and AI Disruption Concerns tempered overall market enthusiasm. Despite Figma's company-specific strengths, the broader software sector experienced considerable volatility during fiscal Q2 2026. While AI infrastructure and semiconductor companies saw substantial gains, the application layer software industry faced disruption and investor caution, with some analysts speculating that AI could negatively impact traditional software revenue models. This general macroeconomic and sector-specific uncertainty, alongside competition from established players like Adobe and the evolving landscape of AI agents, likely acted as a restraining force on Figma's stock, preventing a more significant upward movement despite its strong operational performance.

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Stock Movement Drivers

Fundamental Drivers

The 0.9% change in FIG stock from 3/31/2026 to 7/5/2026 was primarily driven by a 10.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)33120267052026Change
Stock Price ($)21.1421.340.9%
Change Contribution By: 
Total Revenues ($ Mil)1,0561,16110.0%
P/S Multiple10.39.6-6.3%
Shares Outstanding (Mil)513523-2.0%
Cumulative Contribution0.9%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 7/5/2026
ReturnCorrelation
FIG0.9% 
Market (SPY)14.5%-6.1%
Sector (XLK)35.9%-4.2%

Fundamental Drivers

The -42.9% change in FIG stock from 12/31/2025 to 7/5/2026 was primarily driven by a -63.3% change in the company's P/S Multiple.
(LTM values as of)123120257052026Change
Stock Price ($)37.3721.34-42.9%
Change Contribution By: 
Total Revenues ($ Mil)6771,16171.6%
P/S Multiple26.29.6-63.3%
Shares Outstanding (Mil)475523-9.3%
Cumulative Contribution-42.9%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 7/5/2026
ReturnCorrelation
FIG-42.9% 
Market (SPY)9.5%15.6%
Sector (XLK)25.6%12.6%

Fundamental Drivers

null
null

Market Drivers

6/30/2025 to 7/5/2026
ReturnCorrelation
FIG  
Market (SPY)21.6%18.3%
Sector (XLK)43.2%17.1%

Fundamental Drivers

null
null

Market Drivers

6/30/2023 to 7/5/2026
ReturnCorrelation
FIG  
Market (SPY)74.0%18.3%
Sector (XLK)111.6%17.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
FIG Return-----68%-48%-83%
Peers Return15%-46%51%5%-7%-27%-33%
S&P 500 Return27%-19%24%23%16%9%99%

Monthly Win Rates [3]
FIG Win Rate----17%43% 
Peers Win Rate60%27%63%53%45%43% 
S&P 500 Win Rate75%42%67%75%67%43% 

Max Drawdowns [4]
FIG Max Drawdown------55% 
Peers Max Drawdown-28%-53%-22%-28%-31%-40% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: ADBE, MSFT, TEAM, ZM, ADSK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/2/2026 (YTD)

How Low Can It Go

FIG has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.

EventXLKS&P 500
2025 US Tariff Shock
  % Loss-25.7%-18.8%
  % Gain to Breakeven34.5%23.1%
  Time to Breakeven65 days79 days
2024 Yen Carry Trade Unwind
  % Loss-17.0%-7.8%
  % Gain to Breakeven20.4%8.5%
  Time to Breakeven92 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-10.0%-9.5%
  % Gain to Breakeven11.2%10.5%
  Time to Breakeven15 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-33.1%-24.5%
  % Gain to Breakeven49.5%32.4%
  Time to Breakeven246 days427 days
2020 COVID-19 Crash
  % Loss-31.2%-33.7%
  % Gain to Breakeven45.2%50.9%
  Time to Breakeven78 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-23.8%-19.2%
  % Gain to Breakeven31.2%23.8%
  Time to Breakeven100 days105 days

Compare to ADBE, MSFT, TEAM, ZM, ADSK

In The Past

State Street Technology Select Sector SPDR ETF's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

FIG has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.

EventXLKS&P 500
2025 US Tariff Shock
  % Loss-25.7%-18.8%
  % Gain to Breakeven34.5%23.1%
  Time to Breakeven65 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-33.1%-24.5%
  % Gain to Breakeven49.5%32.4%
  Time to Breakeven246 days427 days
2020 COVID-19 Crash
  % Loss-31.2%-33.7%
  % Gain to Breakeven45.2%50.9%
  Time to Breakeven78 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-23.8%-19.2%
  % Gain to Breakeven31.2%23.8%
  Time to Breakeven100 days105 days
2008-2009 Global Financial Crisis
  % Loss-51.5%-53.4%
  % Gain to Breakeven106.2%114.4%
  Time to Breakeven797 days1085 days

Compare to ADBE, MSFT, TEAM, ZM, ADSK

In The Past

State Street Technology Select Sector SPDR ETF's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Figma (FIG)

Figma (FIG) is a leading browser-based, AI-powered collaboration platform designed for teams to create and develop digital products and experiences. It serves as a central hub where designers, developers, product managers, and other stakeholders work together throughout the entire software creation lifecycle, from initial idea generation and concept visualization to final product implementation. The platform's expansive view of design extends beyond aesthetics to encompass how digital products function, making it critical for companies aiming to stand out in an increasingly digital world.

The company's core offering is its integrated, cloud-based platform that enables real-time collaboration on design projects through a simple URL. It allows cross-functional teams to share ideas, align on visions, and translate designs into coded products efficiently. Figma caters to the growing movement to elevate design and streamline software building, recognizing that better-designed digital products are essential for attracting and retaining user loyalty.

Figma primarily serves large enterprises and organizations across diverse industries and geographies that are heavily investing in digital transformation. Its robust client base includes 95% of the Fortune 500 and 78% of the Forbes Global 2000 as of March 2025. The platform supports over 13 million monthly active users, with a significant two-thirds comprising non-designers, highlighting its broad appeal for cross-functional team collaboration on prominent digital products used by billions daily, such as Google Maps, Uber, and Netflix.

AI Analysis | Feedback

Figma is like:
  • Google Docs for digital product design and collaboration.
  • The modern, collaborative Adobe for creating apps and websites.
  • GitHub for visual design and prototyping of software.

AI Analysis | Feedback

  • Collaborative Ideation and Whiteboarding: A core offering within the Figma platform that allows teams to collaboratively share and explore ideas and align on a vision for digital products.
  • Digital Product Design and Prototyping: An AI-powered suite of tools within the Figma platform for visualizing concepts, designing user interfaces, and translating them into coded digital products.

AI Analysis | Feedback

Figma (FIG) primarily sells its software and services to other companies and organizations.

While Figma's customer base is very broad, encompassing 95% of the Fortune 500 and 78% of the Forbes Global 2000, the company's description highlights several prominent organizations whose digital products are created using Figma. These serve as examples of Figma's major customers:

  • Google (Alphabet Inc.) (Symbol: GOOGL)
  • Uber Technologies, Inc. (Symbol: UBER)
  • JetBlue Airways Corporation (Symbol: JBLU)
  • Netflix, Inc. (Symbol: NFLX)
  • Duolingo, Inc. (Symbol: DUOL)
  • LinkedIn (a subsidiary of Microsoft Corporation) (Symbol: MSFT)
  • MercadoLibre, Inc. (Symbol: MELI)
  • Airbnb, Inc. (Symbol: ABNB)
  • Anthropic (Claude) (Private Company)

These companies represent a diverse range of industries, all leveraging Figma to develop their digital products and experiences.

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null

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Dylan Field, CEO & Co-Founder

Dylan Field co-founded Figma in 2012 with Evan Wallace after receiving a Thiel Fellowship, which led him to drop out of Brown University. He previously interned at LinkedIn and Flipboard. Field is also an angel investor. Figma went public in July 2025. An attempted $20 billion acquisition of Figma by Adobe in 2022 was terminated in 2023 due to antitrust scrutiny from regulators.

Praveer Melwani, Chief Financial Officer

Praveer Melwani joined Figma in July 2017 as Head of Business Operations and Finance and was appointed Chief Financial Officer in March 2022. Prior to his time at Figma, Melwani held positions in Business Operations at NerdWallet and in Strategic Finance at Dropbox. He played a key role in preparing Figma for its initial public offering and navigating the period of the attempted Adobe acquisition.

Kris Rasmussen, Chief Technology Officer

As CTO, Kris Rasmussen is responsible for driving Figma's technology strategy, scaling engineering operations, and enhancing platform reliability. Before joining Figma, Rasmussen served as VP of Engineering and Technical Advisor at Asana and held significant engineering roles at other SaaS companies.

Sheila Joglekar Vashee, Chief Marketing Officer

Sheila Joglekar Vashee leads Figma's marketing efforts, including brand building, demand generation, and product marketing. She holds an MBA from Stanford Graduate School of Business. Her prior experience includes marketing leadership at Salesforce, and earlier roles at Google and Adobe. Vashee also serves as an advisor at Basis Set Ventures.

Yuhki Yamashita, Chief Product Officer

Yuhki Yamashita leads Figma's product team. Before joining Figma in 2019, he held product and design roles at Uber, where he was responsible for redesigning both the rider and driver applications. He also previously held product leadership positions at Medium and Adobe.

AI Analysis | Feedback

The key risks to Figma's business are:

  1. Dependence on continuous innovation and adaptation to rapidly evolving AI technologies: Figma's platform is described as "AI-powered," and the company explicitly states that "as AI makes software much easier to create," better-designed digital products become even more critical. This indicates that Figma's success is closely tied to its ability to continuously innovate and integrate cutting-edge AI advancements to maintain its competitive edge and relevance in the evolving landscape of software creation and design tools.

  2. Potential slowdown or reversal in digital transformation and the perceived importance of differentiated digital product design: Figma benefits from "organizations across industries and geographies continue to invest heavily in digital transformation" and the belief that "better-designed digital products and experiences have become even more critical." A decrease in the pace of global digital transformation or a shift in industry perception regarding the necessity of highly refined digital design (e.g., if simpler, AI-generated solutions become widely sufficient) could impact Figma's growth trajectory and market demand for its platform.

AI Analysis | Feedback

null

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Figma (symbol: FIG) estimates its total addressable market to be approximately $33 billion globally. This market encompasses various aspects beyond just design, including collaboration, workflow, presentation, marketing, and product operations.

AI Analysis | Feedback

Figma (symbol: FIG) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

  1. Advanced AI Integration and New Product Offerings: Figma's ongoing integration of artificial intelligence and the launch of new AI-powered products, such as Figma Make, are significant growth catalysts. Figma Make, which became generally available in July 2025, has been instrumental in accelerating business changes and increasing paid customer adoption. By the fourth quarter of 2025, weekly active users of Figma Make grew over 70% quarter-over-quarter, with more than half of its large customers (those with over $100,000 in Annual Recurring Revenue or ARR) utilizing it weekly. The company has also expanded its product portfolio to include Figma Draw, Figma Sites, and Figma Buzz, broadening its addressable use cases. Furthermore, the monetization of AI credits, which began in March 2026, is anticipated to contribute to revenue growth.
  2. Expansion of Customer Base and Increased Usage by Existing Customers: Figma is seeing consistent growth in its customer base and deeper engagement from existing users. The company added over 90,000 paid teams in Q2 and Q3 of 2025. Its net dollar retention (NDR) rate for paid customers spending over $10,000 in ARR rose to 136% in Q4 2025, indicating that existing customers are expanding their usage and spending more on the platform. A substantial portion of customers, over 70% by Q3 2025, are using three or more Figma products, and the company has seen a 27% quarter-over-quarter increase in multi-year customer deals in the same period. Figma estimates its total addressable market at $33 billion, highlighting significant untapped growth potential.
  3. International Market Expansion: International growth continues to be a strong driver for Figma. International revenue grew 45% year-over-year in Q4 2025, accounting for 54% of its quarterly revenue. Figma is making strategic global investments, including the planned opening of an India hub, and has expanded language support to include Korean and Brazilian Portuguese, broadening its accessibility and reach in diverse markets.
  4. Introduction of a Hybrid Monetization Model: Figma is transitioning its pricing structure to a hybrid model that monetizes both seats and credits, with AI consumption serving as a key meter. This shift from a purely seat-based model is expected to impact revenue positively, with the new pricing and packaging already contributing to full-year 2025 revenue growth. Beginning in March 2026, administrators can purchase AI credits through flexible subscription or pay-as-you-go options.
  5. Expansion into Broader Workflows and New User Personas: Figma's strategy extends beyond traditional design roles to encompass the entire software creation lifecycle, targeting developers, product managers, marketers, and other non-designers. Non-designers constituted two-thirds of Figma's 13 million monthly active users in March 2025. The company's Dev Mode facilitates the translation of designs into code, while new features like native Git integration, live code sync, and AI-generated design tokens are blurring the lines between design and development environments. The "Code to Canvas" integration with Anthropic's Claude models, launched in February 2026, further bridges the gap by allowing developers to push live code directly into Figma designs. Additionally, products like Figma Buzz are targeting brand and marketing teams, and Figma Slides is catering to product teams for presentations.

AI Analysis | Feedback

Share Issuance

  • Figma completed its Initial Public Offering (IPO) on July 31, 2025, raising $1.2 billion by selling shares at $33 each.
  • The company itself directly received $412.5 million from the IPO by offering 12.47 million new shares.
  • A one-time stock-based compensation expense of $975.7 million was recognized in the third quarter of 2025, primarily due to the IPO.

Inbound Investments

  • Figma raised $250 million in its Series E funding round in 2021, led by Durable Capital Partners, at a $10 billion valuation.
  • In May 2024, a tender offer valued the company at $12.5 billion, with investors such as Fidelity participating.
  • Figma received a $1 billion breakup fee from Adobe in December 2023 after their proposed acquisition was terminated due to regulatory pressure.

Outbound Investments

  • Figma made strategic acquisitions, including Payload and Weavy, to bolster its platform capabilities.

Capital Expenditures

  • In March 2025, Figma announced plans to invest nearly $15 million in the expansion of its New York City office.
  • For fiscal year 2025, Figma reported capital expenditures of $734 thousand.
  • The company also incurred capitalized internal-use software development costs of $700 thousand for fiscal year 2025.

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Figma Stock Slides 34% With A 11-Day Losing Spree06/17/2026
210-Day Sell-Off Sends Figma Stock Down 32%06/16/2026
3Figma Stock Plummets 32% With 9-Day Losing Streak06/13/2026
4Figma Stock Slides 29% With A 8-Day Losing Spree06/12/2026
5Figma Stock 7-Day Losing Spree: Stock Falls 27%06/11/2026
6Figma Stock Plummets 24% With 6-Day Losing Streak06/10/2026
7Figma Stock Plummets 22% With 5-Day Losing Streak06/09/2026
8Figma Stock In Shambles: Down 23% With 6-Day Losing Streak03/26/2026
9Figma Stock In Shambles: Down 20% With 5-Day Losing Streak03/25/2026
10FIG Stock Surges 18% With A 5-day Winning Spree On Record Earnings Beat02/21/2026
11ARTICLES 
12Stocks Trading At 52-Week Low06/26/2026
1311-Day Sell-Off Sends Figma Stock Down -34%06/17/2026
14Figma Stock 10-Day Losing Spree: Stock Falls -32%06/16/2026
15Figma Stock 9-Day Losing Spree: Stock Falls -32%06/13/2026
16Figma Stock 8-Day Losing Spree: Stock Falls -29%06/12/2026

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ARKWARK Next Generation Internet ETFEquity7.0%-1.7%
MAGSRoundhill Magnificent Seven ETFEquity6.6%-1.3%
IBBiShares Biotechnology ETFEquity6.5%16.0%
PALLETFS Physical Palladium SharesCommodity6.5%-21.2%
ARKKARK Innovation ETFEquity6.2%5.6%

Top Losers

TickerCompanyCategory1W RtnYTD Rtn
EWYiShares MSCI South Korea ETFEquity-12.1%85.3%
SOXQInvesco PHLX Semiconductor ETFEquity-9.6%78.2%
SOXXiShares Semiconductor ETFEquity-9.4%88.2%
SMHVanEck Semiconductor ETFEquity-7.0%64.5%
MTUMiShares MSCI USA Momentum Factor ETFEquity-6.7%26.6%
VLUEiShares MSCI USA Value Factor ETFEquity-5.7%41.7%
SPMOInvesco S&P 500 Momentum ETFEquity-5.5%26.8%
USOUnited States Oil Fund LPCommodity-4.9%50.3%
ASHRXtrackers Harvest CSI 300 China A-Sha...Equity-4.2%7.0%
EEMiShares MSCI Emerging Markets ETFEquity-3.3%20.1%

Top Gainers

Top Losers

TickerCompanyCategory1M RtnYTD Rtn
USOUnited States Oil Fund LPCommodity-24.3%50.3%
NASATema Space Innovators ETFEquity-22.7%15.9%
SLViShares Silver TrustCommodity-19.1%-14.6%
URAGlobal X Uranium ETFEquity-19.1%1.2%
ICLNiShares Global Clean Energy ETFEquity-17.2%19.7%
EWYiShares MSCI South Korea ETFEquity-16.0%85.3%
PPLTETFS Physical Platinum SharesCommodity-16.0%-21.0%
COMTiShares GSCI Commodity Dynamic Roll S...Commodity-12.5%21.3%
FXIiShares China Large-Cap ETFEquity-12.2%-16.7%
RINGiShares MSCI Global Gold Miners ETFEquity-11.8%-8.8%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Peers to compare with:

Financials

FIGADBEMSFTTEAMZMADSKMedian
NameFigma Adobe MicrosoftAtlassianZoom Com.Autodesk  
Mkt Price21.34219.72390.4983.8487.14207.48147.31
Mkt Cap11.288.32,899.821.925.743.834.7
Rev LTM1,16125,198318,2736,1904,9337,5076,849
Op Inc LTM-1,4689,090148,957-2291,1932,0271,610
FCF LTM23110,28072,9161,2051,9612,6942,327
FCF 3Y Avg-8,69570,9521,3151,7691,7641,769
CFO LTM25110,481170,1411,2492,0212,7812,401
CFO 3Y Avg-8,893136,9911,3521,8791,8471,879

Growth & Margins

FIGADBEMSFTTEAMZMADSKMedian
NameFigma Adobe MicrosoftAtlassianZoom Com.Autodesk  
Rev Chg LTM41.4%11.5%17.9%24.7%5.0%18.3%18.1%
Rev Chg 3Y Avg-11.0%15.3%22.7%3.7%13.8%13.8%
Rev Chg Q46.1%12.7%18.3%31.7%5.5%18.4%18.4%
QoQ Delta Rev Chg LTM10.0%3.0%4.2%7.5%1.3%4.2%4.2%
Op Inc Chg LTM-72.6%10.6%22.0%-35.5%40.0%44.0%16.3%
Op Inc Chg 3Y Avg-13.6%20.7%-11.1%337.9%27.4%20.7%
Op Mgn LTM-126.4%36.1%46.8%-3.7%24.2%27.0%25.6%
Op Mgn 3Y Avg-79.9%35.9%45.6%-3.2%19.4%23.5%21.4%
QoQ Delta Op Mgn LTM-4.2%-0.6%0.1%-0.5%1.1%2.1%-0.2%
CFO/Rev LTM21.6%41.6%53.5%20.2%41.0%37.0%39.0%
CFO/Rev 3Y Avg-38.8%49.5%27.2%39.7%27.6%38.8%
FCF/Rev LTM19.9%40.8%22.9%19.5%39.7%35.9%29.4%
FCF/Rev 3Y Avg-37.9%26.1%26.5%37.3%26.3%26.5%

Valuation

FIGADBEMSFTTEAMZMADSKMedian
NameFigma Adobe MicrosoftAtlassianZoom Com.Autodesk  
Mkt Cap11.288.32,899.821.925.743.834.7
P/S9.63.59.13.55.25.85.5
P/Op Inc-7.69.719.5-95.621.521.614.6
P/EBIT-7.69.418.4-150.221.521.613.9
P/E-7.612.223.2-100.912.429.912.3
P/CFO44.58.417.017.512.715.716.4
Total Yield-13.1%8.2%5.2%-1.0%8.1%3.3%4.3%
Dividend Yield0.0%0.0%0.9%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-6.4%2.5%4.0%8.0%3.3%4.0%
D/E0.00.10.00.10.00.10.0
Net D/E-0.10.0-0.00.0-0.3-0.0-0.0

Returns

FIGADBEMSFTTEAMZMADSKMedian
NameFigma Adobe MicrosoftAtlassianZoom Com.Autodesk  
1M Rtn-1.9%-12.6%-6.3%-15.7%-14.2%-9.8%-11.2%
3M Rtn0.3%-9.6%4.8%22.8%5.8%-12.9%2.6%
6M Rtn-43.3%-34.1%-17.1%-45.8%4.6%-27.6%-30.9%
12M Rtn-81.5%-41.9%-21.1%-59.5%12.3%-33.1%-37.5%
3Y Rtn-81.5%-54.3%17.1%-49.4%34.7%3.2%-23.1%
1M Excs Rtn-10.5%-14.5%-9.9%-21.5%-20.4%-10.7%-12.6%
3M Excs Rtn-9.3%-22.8%-7.9%7.1%-5.8%-26.6%-8.6%
6M Excs Rtn-51.8%-46.2%-28.1%-57.1%-7.5%-39.2%-42.7%
12M Excs Rtn-102.3%-64.7%-40.7%-80.4%-8.4%-54.2%-59.4%
3Y Excs Rtn-152.4%-126.0%-51.4%-119.1%-42.9%-70.6%-94.9%

Comparison Analyses

null

Financials

$ Mil | FY: 12/312026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q2
Period End3/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/2023
Filing Date5/14/20262/18/202611/5/20259/3/20257/31/20257/31/202511/5/20259/3/20257/31/20257/31/20257/31/20257/31/2025
Key Financials Quarterly            
Total Revenue333304274250228217199177156144132119
Ebitda-131-189-1,13264153-45-89215-40-1-27
Operating Income-137-196-1,13724052-47-89413-40-1-27
Net Income-142-227-1,0971998-16-82807651-23
EPS-0.27-0.44-2.720.000.020.21-0.03-1.740.001.610.00-0.05
Key Financials TTM            
Total Revenue TTM1,1611,056969893821749677610552505--
Ebitda TTM-1,447-1,275-1,03255-843-870-963-918-52-73--
Operating Income TTM-1,468-1,290-1,04346-850-877-969-922-54-73--
Net Income TTM-1,465-1,314-99092-737-746-79-62743738--
Growth Rates Quarterly            
Total Revenue Growth46.1%40.0%38.0%40.9%46.1%50.2%50.2%49.3%42.6%---
EBITDA Growth-418.2%-455.8%-2396.9%100.6%181.9%234.8%-8621.3%-3245.9%316.8%---
Operating Income Growth-445.7%-478.4%-2301.5%100.2%217.5%230.8%-9003.1%-3253.4%285.4%---
Net Income Growth-1753.7%-331.6%-6933.0%100.1%--87.2%-1345.8%-3459.0%100.0%---
Margins Quarterly            
EBITDA Margin-39.4%-62.4%-413.0%2.3%18.1%24.5%-22.8%-503.5%9.4%-27.4%-0.4%-22.5%
Operating Income Margin-41.2%-64.4%-414.6%0.8%17.4%23.8%-23.8%-504.7%8.0%-27.4%-0.4%-22.5%
Net Income Margin-42.7%-74.6%-400.1%0.3%3.8%45.1%-7.9%-467.2%0.0%529.4%0.9%-19.6%
Cash & Debt            
Total Cash1,6541,6721,6081,6231,5421,458---1,419--
Total Debt5658616567290001500
Net Debt / (Cash)-1,598-1,613-1,547-1,559-1,475-1,429----1,405--
Cash Flows Quarterly            
FCF from Operations97405162977362-178-18---
Cash Flows TTM            
FCF from Operations TTM25125128429454-62------
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases-0-0-0-0-0-0-01-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC-38.0%-58.3%-425.4%-349.9%235.1%------
Return on Invested Capital (ROIC) TTM            
ROIC TTM-101.6%-96.2%-98.1%--1770.9%-921.5%------

Segment Financials

Revenue by Segment
$ Mil202520242023
Single Segment1,056749505
Total1,056749505


Price Behavior

Price Behavior
Market Price$21.34 
Market Cap ($ Bil)11.2 
First Trading Date07/31/2025 
Distance from 52W High-82.5% 
   50 Days200 Days
DMA Price$68.42$68.42
DMA Trenddowndown
Distance from DMA-68.8%-68.8%
 3M1YR
Volatility86.0%87.1%
Downside Capture-77.40294.20
Upside Capture-39.5921.04
Correlation (SPY)-4.4% 
FIG Betas & Captures as of 6/30/2026

 1M2M3M6M1Y3Y
Beta-0.01-0.310.030.950.200.03
Up Beta2.920.680.250.180.59-0.12
Down Beta0.700.47-0.460.640.500.12
Up Capture-278%-60%-15%34%14%1%
Bmk +ve Days11244067140429
Stock +ve Days61625499292
Down Capture71%-123%39%190%182%98%
Bmk -ve Days10172358112321
Stock -ve Days15253876136136

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with FIG
FIG-81.6%87.1%-1.71-
Sector ETF (XLK)44.7%24.0%1.4817.1%
Equity (SPY)21.7%12.5%1.2918.3%
Gold (GLD)23.1%27.7%0.73-0.5%
Commodities (DBC)21.3%18.6%0.902.1%
Real Estate (VNQ)13.6%13.8%0.68-1.0%
Bitcoin (BTCUSD)-42.0%42.7%-1.1522.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with FIG
FIG-28.7%87.1%-1.71-
Sector ETF (XLK)20.9%25.4%0.7317.1%
Equity (SPY)13.3%17.1%0.6018.3%
Gold (GLD)17.9%18.3%0.79-0.5%
Commodities (DBC)6.9%19.5%0.252.1%
Real Estate (VNQ)3.1%18.9%0.06-1.0%
Bitcoin (BTCUSD)12.2%53.8%0.4122.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with FIG
FIG-15.5%87.1%-1.71-
Sector ETF (XLK)24.9%24.8%0.9117.1%
Equity (SPY)15.4%18.0%0.7318.3%
Gold (GLD)12.1%16.1%0.61-0.5%
Commodities (DBC)5.7%18.0%0.252.1%
Real Estate (VNQ)5.5%20.7%0.23-1.0%
Bitcoin (BTCUSD)59.0%66.2%0.9922.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date6152026
Short Interest: Shares Quantity78.2 Mil
Short Interest: % Change Since 531202611.8%
Average Daily Volume17.4 Mil
Days-to-Cover Short Interest4.5 days
Basic Shares Quantity523.5 Mil
Short % of Basic Shares14.9%

Earnings Returns History

Updated 6/17/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/14/202613.2%6.7%-8.5%
2/18/20266.9%29.1%0.1%
11/5/20254.5%-0.0%-14.5%
9/3/2025-19.9%-25.1%-23.8%
SUMMARY STATS   
# Positive321
# Negative123
Median Positive6.9%17.9%0.1%
Median Negative-19.9%-12.5%-14.5%
Max Positive13.2%29.1%0.1%
Max Negative-19.9%-25.1%-23.8%
 Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/14/202613.2%6.7%-8.5%
2/18/20266.9%29.1%0.1%
11/5/20254.5%-0.0%-14.5%
9/3/2025-19.9%-25.1%-23.8%
SUMMARY STATS   
# Positive321
# Negative123
Median Positive6.9%17.9%0.1%
Median Negative-19.9%-12.5%-14.5%
Max Positive13.2%29.1%0.1%
Max Negative-19.9%-25.1%-23.8%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/14/202610-Q
12/31/202502/18/202610-K
09/30/202511/05/202510-Q
06/30/202509/03/202510-Q
03/31/202507/31/2025424B4
 Collapse to Preview
Report DateFiling DateFiling
03/31/202605/14/202610-Q
12/31/202502/18/202610-K
09/30/202511/05/202510-Q
06/30/202509/03/202510-Q
03/31/202507/31/2025424B4

Recent Forward Guidance

Updated 5/31/2026

Latest: Q1 2026 Earnings Reported 5/14/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Revenue348.00 Mil349.00 Mil350.00 Mil10.4% RaisedGuidance: 316.00 Mil for Q1 2026
2026 Revenue1.42 Bil1.43 Bil1.43 Bil4.0% RaisedGuidance: 1.37 Bil for 2026
2026 Non-GAAP Operating Income125.00 Mil130.00 Mil135.00 Mil23.8% RaisedGuidance: 105.00 Mil for 2026

Prior: Q4 2025 Earnings Reported 2/18/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Revenue315.00 Mil316.00 Mil317.00 Mil7.8% Higher NewGuidance: 293.00 Mil for Q4 2025
2026 Revenue1.37 Bil1.37 Bil1.37 Bil31.1% Higher NewGuidance: 1.04 Bil for 2025
2026 Non-GAAP Operating Income100.00 Mil105.00 Mil110.00 Mil-8.3% Lower NewGuidance: 114.50 Mil for 2025

Insider Activity

Updated 6/5/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Voskanian, ShauntChief Revenue OfficerDirectSell605202623.0187,5102,013,74940,992,473Form
2Melwani, PraveerCFO and TreasurerDirectSell605202622.7783,9741,911,90739,821,503Form
3Herb, TylerChief Accounting OfficerDirectSell603202626.401,85048,8406,954,684Form
4Field, DylanPresident & CEOTrustSell602202625.02174,430  Form
5Mulligan, BrendanGeneral Counsel and SecretaryDirectSell521202625.0418,741469,28624,739,762Form
 Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Voskanian, ShauntChief Revenue OfficerDirectSell605202623.0187,5102,013,74940,992,473Form
2Melwani, PraveerCFO and TreasurerDirectSell605202622.7783,9741,911,90739,821,503Form
3Herb, TylerChief Accounting OfficerDirectSell603202626.401,85048,8406,954,684Form
4Field, DylanPresident & CEOTrustSell602202625.02174,430  Form
5Mulligan, BrendanGeneral Counsel and SecretaryDirectSell521202625.0418,741469,28624,739,762Form
6Rasmussen, KrisChief Technology OfficerDirectSell521202625.07327,0468,199,501244,985,912Form
7Herb, TylerChief Accounting OfficerDirectSell520202623.7966915,9166,347,743Form
8Index, Ventures VI (jersey) LP Yucca Jersey SLPSell520202624.3612,475303,89120,031,837Form
9Rimer, Daniel H Yucca Jersey SLPSell520202624.3612,475303,89120,031,837Form
10Mulligan, BrendanGeneral Counsel and SecretaryDirectSell318202626.304,817126,68721,714,437Form
11Mulligan, BrendanGeneral Counsel and SecretaryDirectSell305202628.304,817136,30323,498,974Form
12Rasmussen, KrisChief Technology OfficerDirectSell305202629.80179,3315,344,928303,090,508Form
13Herb, TylerChief Accounting OfficerDirectSell305202628.471,67847,7735,378,353Form
14Herb, TylerChief Accounting OfficerDirectSell302202632.001,49247,7446,174,144Form
15Field, DylanPresident & CEODirectSell302202630.80250,000  Form
16Field, DylanPresident & CEOTrustSell302202630.77236,930  Form
17Voskanian, ShauntChief Revenue OfficerDirectSell227202630.008,554256,62047,405,430Form
18Rasmussen, KrisChief Technology OfficerDirectSell227202630.0051,3591,541,017311,076,144Form
19Reed, Andrew Phillips SC Expansion Fund II Management, L.P.Buy224202624.30912,74922,183,70035,650,770Form
20Reed, Andrew Phillips SC Expansion Fund II Management, L.P.Buy224202625.90554,10314,353,37314,353,373Form
21Herb, TylerChief Accounting OfficerDirectSell223202626.001,49238,7925,055,284Form
22Mulligan, BrendanGeneral Counsel and SecretaryDirectSell223202626.005,227135,90221,976,812Form
23Mulligan, BrendanGeneral Counsel and SecretaryDirectSell212202625.005,227130,67521,262,225Form
24Rasmussen, KrisChief Technology OfficerDirectSell212202625.01205,4385,138,559260,604,945Form
25Rasmussen, KrisChief Technology OfficerDirectSell204202624.8674,3051,847,397264,146,181Form
26Melwani, PraveerCFO and TreasurerDirectSell204202624.8616,247403,93938,544,072Form
27Voskanian, ShauntChief Revenue OfficerDirectSell204202624.863,82895,17339,499,657Form
28Mulligan, BrendanGeneral Counsel and SecretaryDirectSell204202624.867,671190,71921,275,137Form
29Herb, TylerChief Accounting OfficerDirectSell204202624.862,23255,4934,871,196Form
30Mulligan, BrendanGeneral Counsel and SecretaryDirectSell120202632.025,666181,39927,641,594Form
31Field, DylanPresident & CEODirectSell116202632.63250,000  Form
32Field, DylanPresident & CEOSee footnoteSell116202632.6362,500  Form
33Herb, TylerChief Accounting OfficerDirectSell106202637.152,840105,5197,362,446Form
34Voskanian, ShauntChief Revenue OfficerDirectSell106202637.248,449314,66459,311,456Form
35Rasmussen, KrisChief Technology OfficerDirectSell106202637.25181,3456,755,172398,528,790Form
36Mulligan, BrendanGeneral Counsel and SecretaryDirectSell106202637.255,666211,04632,370,350Form
37Herb, TylerChief Accounting OfficerDirectSell106202637.212,40889,5977,478,709Form
38Voskanian, ShauntChief Revenue OfficerDirectSell106202637.213,933146,33859,569,975Form
39Rasmussen, KrisChief Technology OfficerDirectSell106202637.2114,252530,285404,820,255Form
40Melwani, PraveerCFO and TreasurerDirectSell106202637.2111,880442,02858,287,631Form
41Mulligan, BrendanGeneral Counsel and SecretaryDirectSell106202637.216,793252,75232,546,297Form
42Melwani, PraveerCFO and TreasurerDirectSell1229202540.0112,714508,72763,157,677Form
43Melwani, PraveerCFO and TreasurerAPM33, LLCSell1229202540.0111,137445,6264,736,071Form
44Mulligan, BrendanGeneral Counsel and SecretaryDirectSell1217202534.654,392152,20030,547,861Form
45Field, DylanPresident & CEODirectSell1217202534.66250,000  Form
46Field, DylanPresident & CEOSee footnoteSell1217202534.6662,500  Form
47Radakovich, Lynn VojvodichDirectSell1217202534.6415,124523,8502,507,512Form
48Rasmussen, KrisChief Technology OfficerDirectSell1205202536.71177,3876,512,168399,945,598Form
49Mulligan, BrendanGeneral Counsel and SecretaryDirectSell1205202536.684,392161,11332,497,801Form
50Voskanian, ShauntChief Revenue OfficerDirectSell1205202536.686,305231,23958,862,072Form
51Herb, TylerChief Accounting OfficerDirectSell1205202536.602,31084,5397,444,017Form
52Rasmussen, KrisChief Technology OfficerDirectSell1203202535.4518,211645,545392,468,318Form
53Herb, TylerChief Accounting OfficerDirectSell1203202535.453,073108,9327,292,241Form
54Mulligan, BrendanGeneral Counsel and SecretaryDirectSell1203202535.459,343331,19231,559,302Form
55Voskanian, ShauntChief Revenue OfficerDirectSell1203202535.456,076215,38357,115,751Form
56Melwani, PraveerCFO and TreasurerDirectSell1203202535.4515,781559,40656,402,854Form
57Field, DylanPresident & CEODirectSell1126202534.76250,000  Form
58Field, DylanPresident & CEOSee footnoteSell1126202534.7662,500  Form
59Field, DylanPresident & CEODirectSell1119202537.303,029,063  Form
60Mulligan, BrendanGeneral Counsel and SecretaryDirectSell1119202537.294,299160,32933,551,591Form
61Herb, TylerChief Accounting OfficerDirectSell1119202538.2175728,9257,977,828Form
62Melwani, PraveerCFO and TreasurerDirectSell1113202545.0010,000450,00072,581,310Form
63Rasmussen, KrisChief Technology OfficerDirectSell1113202545.0331,7151,428,085499,361,213Form
64Mulligan, BrendanGeneral Counsel and SecretaryDirectSell1113202545.0010,000450,00040,643,145Form
65Voskanian, ShauntChief Revenue OfficerDirectSell1113202543.39403,33517,499,90470,172,562Form
66Melwani, PraveerCFO and TreasurerDirectSell1113202543.4714,532631,65170,542,078Form
67Melwani, PraveerCFO and TreasurerAPM33, LLCSell1113202543.4613,000565,0115,628,378Form
68Rasmussen, KrisChief Technology OfficerDirectSell1113202543.47272,78911,857,002483,407,825Form
69Mulligan, BrendanGeneral Counsel and SecretaryDirectSell1113202543.4780,9343,517,94039,693,031Form
70Herb, TylerChief Accounting OfficerDirectSell1113202543.9343,3571,904,7779,172,604Form
71Rasmussen, KrisChief Technology OfficerDirectSell1105202548.1773,7383,552,055548,137,321Form
72Voskanian, ShauntChief Revenue OfficerDirectSell1105202548.1726,7411,288,14977,212,139Form
73Herb, TylerChief Accounting OfficerDirectSell1105202548.173,133150,92110,890,905Form
74Mulligan, BrendanGeneral Counsel and SecretaryDirectSell1105202548.179,526458,88045,159,630Form
75Melwani, PraveerCFO and TreasurerDirectSell1105202548.1716,092775,17378,878,095Form
76Kleiner, Perkins Caufield & Byers Xvii, LlcDirectSell805202531.522,668,65484,102,6311,501,368,675Form
77Kleiner, Perkins Caufield & Byers Xvii, LlcKPCB XVII Founders Fund, LLCSell805202531.5287,3662,753,33949,151,487Form
78Rimer, Daniel HIndex Ventures VI (Jersey), L.P.Sell805202531.523,187,765100,462,4141,758,877,677Form
79Rimer, Daniel HIndex Ventures VI Parralel Entreprenuer Fund (Jersey), L.P.Sell805202531.5264,3452,027,83335,502,751Form
80Rimer, Daniel HYucca Jersey SLPSell805202531.5241,1661,297,34626,308,722Form
81Index, Ventures VI (jersey) LPDirectSell805202531.523,187,765100,462,4141,758,877,677Form
82Index, Ventures VI (jersey) LPIndex Ventures VI Parralel Entreprenuer Fund (Jersey), L.P.Sell805202531.5264,3452,027,83335,502,751Form
83Index, Ventures VI (jersey) LPYucca Jersey SLPSell805202531.5241,1661,297,34626,308,722Form
84Hamid, Mamoon AmjadKleiner Perkins Caufield & Byers XVII, LLCSell805202531.522,668,65484,102,6311,501,368,675Form
85Hamid, Mamoon AmjadKPCB XVII Founders Fund, LLCSell805202531.5287,3662,753,33949,151,487Form
86Lilly, Iii John OsborneDirectBuy805202533.0062,5002,062,5002,062,500Form
87McDermott, William RDirectBuy805202533.00160,0005,280,0006,869,907Form
88Von, Ahn LuisDirectBuy805202533.0030,000990,0002,579,907Form
89Voskanian, ShauntChief Revenue OfficerDirectSell805202531.5290,0002,836,35052,986,170Form
90Melwani, PraveerCFO and TreasurerDirectSell805202531.5240,0001,260,60053,091,776Form
91Melwani, PraveerCFO and TreasurerAPM33, LLCSell805202531.527,500236,3624,490,888Form
92Mulligan, BrendanGeneral Counsel and SecretaryDirectSell805202531.5230,000945,45030,431,609Form
93Reed, Andrew Phillips Sequoia Capital US/E Expansion Fund I, L.P.Buy805202533.0060,0001,980,0001,980,000Form
94Reed, Andrew Phillips Sequoia Capital U.S. Growth Fund VIII, L.P.Sell805202531.521,286,71140,550,697698,132,697Form
95Reed, Andrew Phillips Sequoia Grove II, LLCSell805202531.52414,18213,052,946224,723,002Form
96Reed, Andrew Phillips Sequoia Grove UK, L.P.Sell805202531.528,441266,0184,580,043Form
97Rasmussen, KrisChief Technology OfficerDirectSell805202531.52217,2706,847,264362,061,622Form
98Field, DylanPresident & CEODirectSell805202531.521,600,000  Form
99Field, DylanPresident & CEOSee footnoteSell805202531.52750,000  Form
100Greylock, Xiv GP Llc Greylock XIV-A Limited PartnershipSell805202531.52153,7384,845,05392,056,229Form
101Greylock, Xiv GP Llc Greylock XIV Limited PartnershipSell805202531.522,767,27987,210,7981,657,005,345Form
102Greylock, Xiv GP Llc Greylock XIV Principals LLCSell805202531.52153,7384,845,05392,056,229Form

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