New York, May 17, 2026, 11:03 (EDT)
- Figma finished Friday at $22.92, gaining 13.24% after it posted first-quarter numbers and boosted its 2026 forecast. Shares edged down 1.57% to $22.56 in after-hours trading.
- The U.S. cash market stayed closed Sunday. Regular NYSE trading is open from 9:30 a.m. to 4 p.m. Eastern, but only on trading days.
- The stock is up roughly 11% this week, based on Friday’s close compared to its May 8 finish at $20.66.
Figma Inc. starts Monday fresh off its biggest move in weeks. Shares surged 13.2% Friday after the design-software firm hiked its full-year sales outlook and said artificial intelligence is paying off. Figma closed at $22.92 on volume topping 76 million shares.
Figma shares have faced pressure as investors questioned if AI would cut the cost of design work or replace some of it. But the company told investors AI was actually driving more users to upgrade plans and leading to deeper adoption by bigger corporate clients.
Figma reported first-quarter revenue of $333.4 million, up 46% year over year. Non-GAAP operating income totaled $52.1 million. The company raised its full-year revenue outlook by $55 million, now expecting $1.422 billion to $1.428 billion.
Figma CEO Dylan Field centered the quarter’s story on AI’s impact in software. “When code is a commodity, design is the competitive edge,” Field said. CFO Praveer Melwani said the company’s higher outlook comes from “promising early traction on AI monetization.” Figma Investor Relations
The monetization question stays front and center this week. Figma started putting AI credit limits in place March 18. AI credits are what customers spend when they use the platform’s AI features. Over 75% of higher-priced users who went over those limits in April kept using credits, and as of April 30, more than 95% were still active on Figma, the company said.
Other usage figures boosted the stock. Net dollar retention hit 139%, its best in over two years, Figma said. Paid customers climbed 54% to roughly 690,000. The number of customers generating over $100,000 in annual recurring revenue was up 48%.
Competition is still strong. Adobe is still the bigger name in design software, and Reuters says both firms are adding AI to their creative tools. Anthropic rolled out Claude Design in April, a test product that makes prototypes, slides and visuals from prompts.
Figma leadership isn’t ignoring the risk. “You can’t dismiss them,” Melwani told Reuters about Claude Design. He said Figma is watching Anthropic’s model training work and how it connects to products. Reuters
But the rally didn’t erase the rougher numbers in the release. Figma reported a GAAP net loss of $142.4 million after net income of $44.9 million a year ago. Stock-based compensation hit about $169.0 million for the quarter. More AI use can increase infrastructure costs before pricing adjusts.
Analysts weren’t quick to turn bullish despite the earnings beat. Piper Sandler’s Billy Fitzsimmons kept an overweight rating but trimmed his price target to $30 from $35. JPMorgan’s Mark Murphy moved his target to $42 from $45 and kept a neutral rating. Morgan Stanley also cut its target, to $38 from $44, sticking to its equal-weight view.
Broader market moves could weigh nearly as much as earnings on Monday. U.S. stocks ended lower Friday, with the Dow shedding 1.07%, the S&P 500 down 1.24% and the Nasdaq dropping 1.54% as crude and Treasury yields climbed. “There’s a realization that the market had gotten way ahead of itself,” Slatestone Wealth chief market strategist Kenny Polcari said. Reuters
Figma’s rally on Friday could unwind if investors start to think that design tools from Anthropic, Adobe, or other AI outfits will squeeze its pricing power. Any fresh jump in bond yields or oil would also hurt, with higher rates often dragging on growth stocks. “There is a real fear that inflation is becoming embedded,” Peter Tuz, president of Chase Investment Counsel, told Reuters. Reuters
Figma has a cleaner story for the moment. The real question is whether shares on Monday will see Friday’s jump as a turning point after a tough run, or just a short burst higher in a stock that remains well under its 52-week high of $142.92.
