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 in the Information Technology sector, specializing in collaborative design tools for teams....

Key Metrics to Watch

User Growth Rate

This metric indicates how well Figma is attracting new users, which is crucial for revenue growth.

N/A

Average Revenue Per User (ARPU)

ARPU helps assess how effectively Figma is monetizing its user base, which is important for profitability.

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 in the Information Technology sector, specializing in collaborative design tools for teams. As remote work and digital collaboration continue to grow, Figma's platform is increasingly relevant for businesses 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 surprised analysts with an earnings per share (EPS) of $0.10, significantly beating expectations. The stock rose by 6.86% the following day, reflecting positive investor sentiment.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall expectations for Figma's upcoming earnings are mixed, with no analyst estimates available. Investors are keenly watching for user growth and revenue metrics.

Bull Case

If Figma continues its trend of beating EPS estimates, it could signal strong operational performance and growth potential, leading to a positive stock reaction.

Bear Case

Conversely, if user growth or retention rates show signs of slowing, it could raise concerns about the company's long-term viability and lead to a negative stock reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current user growth rate compared to previous quarters?

User growth is critical for Figma's revenue potential and overall market position, making it a key focus for investors.

How has the average revenue per user changed over the last quarter?

Changes in ARPU can indicate how effectively Figma is monetizing its user base and could impact future profitability.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating Figma's ability to sustain user growth despite increased competition, as its collaborative tools are becoming essential for remote teams.

Supporting Evidence

Figma has consistently beaten EPS estimates, indicating stronger-than-expected performance.

The options market is pricing a significant move, suggesting that investors are anticipating volatility based on upcoming results.

Key Risk

If user growth comes in below 10%, it could challenge the current bullish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus is on user metrics and revenue generation as Figma navigates a competitive landscape.

Bull Confirmed If

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

Bear Confirmed If

A decline in customer retention rate below 80% 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 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)

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 performance.

In-Line / Cautious

If results are in line but cautious commentary is provided, the stock may react neutrally, reflecting uncertainty.

Miss

A miss could lead to a stock decline, with historical patterns suggesting a potential drop of around 4.85%.

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 user acquisition strategies and their effectiveness.
2Insights into customer retention rates and what is driving them.
3Details on any new product features or enhancements.
4Feedback from key customers regarding their usage and satisfaction.
5Management's outlook on competitive pressures in the design software market.

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. is a software company in the Information Technology sector, specializing in collaborative design tools for teams....

Key Metrics to Watch

User Growth Rate

This metric indicates how well Figma is attracting new users, which is crucial for revenue growth.

N/A

Average Revenue Per User (ARPU)

ARPU helps assess how effectively Figma is monetizing its user base, which is important for profitability.

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 surprised analysts with an earnings per share (EPS) of $0.10, significantly beating expectations. The stock rose by 6.86% the following day, reflecting positive investor sentiment.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall expectations for Figma's upcoming earnings are mixed, with no analyst estimates available. Investors are keenly watching for user growth and revenue metrics.

Bull Case

If Figma continues its trend of beating EPS estimates, it could signal strong operational performance and growth potential, leading to a positive stock reaction.

Bear Case

Conversely, if user growth or retention rates show signs of slowing, it could raise concerns about the company's long-term viability and lead to a negative stock reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current user growth rate compared to previous quarters?

User growth is critical for Figma's revenue potential and overall market position, making it a key focus for investors.

How has the average revenue per user changed over the last quarter?

Changes in ARPU can indicate how effectively Figma is monetizing its user base and could impact future profitability.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating Figma's ability to sustain user growth despite increased competition, as its collaborative tools are becoming essential for remote teams.

Supporting Evidence

Figma has consistently beaten EPS estimates, indicating stronger-than-expected performance.

The options market is pricing a significant move, suggesting that investors are anticipating volatility based on upcoming results.

Key Risk

If user growth comes in below 10%, it could challenge the current bullish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus is on user metrics and revenue generation as Figma navigates a competitive landscape.

Bull Confirmed If

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

Bear Confirmed If

A decline in customer retention rate below 80% 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 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)

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 performance.

In-Line / Cautious

If results are in line but cautious commentary is provided, the stock may react neutrally, reflecting uncertainty.

Miss

A miss could lead to a stock decline, with historical patterns suggesting a potential drop of around 4.85%.

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 user acquisition strategies and their effectiveness.
2Insights into customer retention rates and what is driving them.
3Details on any new product features or enhancements.
4Feedback from key customers regarding their usage and satisfaction.
5Management's outlook on competitive pressures in the design software market.