Equity Profile

FIG

Figma, Inc.

Information TechnologyApplication Software$12.4B

Aug14Fri

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Figma, Inc. is a technology company specializing in application software, particularly in collaborative design tools....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is critical for future success.

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 technology company specializing in application software, particularly in collaborative design tools. With a market cap of $12 billion, Figma plays a significant role in the growing demand for cloud-based design solutions, which are increasingly important as remote work and digital collaboration become the norm.

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 exceeding expectations of a loss of $0.17, marking a 160.61% surprise. The stock reacted positively, gaining 6.86% the following day.

Management Promises & Guidance

Focus on expanding user engagement through new features.
Commitment to improving customer support and satisfaction.
Plans to enhance integration with other software tools.

Expectations

Wall Street Expectations

Investors are optimistic about Figma's upcoming earnings, especially given its strong performance in the last quarter. However, there is uncertainty regarding future revenue growth and user retention.

Bull Case

If Figma continues to beat EPS expectations and shows strong user growth, it could signal robust demand for its products, leading to a significant stock price increase.

Bear Case

Concerns about slowing growth in user acquisition or any negative commentary on future guidance could lead to a decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected user growth rate for the upcoming quarter?

User growth is crucial for Figma's revenue trajectory and overall market position, making it a key metric to watch.

Will there be any guidance on revenue expectations for the next quarter?

Guidance on revenue will help investors assess the company's future performance and growth potential.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Figma's ability to capitalize on the growing demand for collaborative tools, especially in remote work environments.

Supporting Evidence

Figma's recent user engagement initiatives have shown promising early results.

The options market is pricing a significant move, suggesting traders expect a positive surprise.

Historical performance indicates a strong track record of beating EPS expectations.

Key Risk

If user growth comes in below 10%, it could challenge the optimistic outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around Figma's ability to sustain user growth and revenue in a competitive market.

Bull Confirmed If

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

Bear Confirmed If

A decline in 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 potential move, indicating that traders expect volatility around the earnings announcement.

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

History suggests that if Figma beats expectations, the stock could rise by an average of 2.55%, confirming strong market demand.

In-Line / Cautious

If results are in line but cautious commentary is provided, the stock may see muted movement as investors reassess future growth.

Miss

If Figma misses expectations, history indicates a potential decline of around 4.85%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product features and their impact on user engagement.
2Insights into customer acquisition strategies and their effectiveness.
3Details on partnerships or integrations with other software platforms.
4Management's perspective on market competition and positioning.

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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 technology company specializing in application software, particularly in collaborative design tools....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is critical for future success.

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 exceeding expectations of a loss of $0.17, marking a 160.61% surprise. The stock reacted positively, gaining 6.86% the following day.

Management Promises & Guidance

Focus on expanding user engagement through new features.
Commitment to improving customer support and satisfaction.
Plans to enhance integration with other software tools.

Expectations

Wall Street Expectations

Bull Case

If Figma continues to beat EPS expectations and shows strong user growth, it could signal robust demand for its products, leading to a significant stock price increase.

Bear Case

Concerns about slowing growth in user acquisition or any negative commentary on future guidance could lead to a decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected user growth rate for the upcoming quarter?

User growth is crucial for Figma's revenue trajectory and overall market position, making it a key metric to watch.

Will there be any guidance on revenue expectations for the next quarter?

Guidance on revenue will help investors assess the company's future performance and growth potential.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Figma's ability to capitalize on the growing demand for collaborative tools, especially in remote work environments.

Supporting Evidence

Figma's recent user engagement initiatives have shown promising early results.

The options market is pricing a significant move, suggesting traders expect a positive surprise.

Historical performance indicates a strong track record of beating EPS expectations.

Key Risk

If user growth comes in below 10%, it could challenge the optimistic outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around Figma's ability to sustain user growth and revenue in a competitive market.

Bull Confirmed If

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

Bear Confirmed If

A decline in 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 potential move, indicating that traders expect volatility around the earnings announcement.

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

History suggests that if Figma beats expectations, the stock could rise by an average of 2.55%, confirming strong market demand.

In-Line / Cautious

If results are in line but cautious commentary is provided, the stock may see muted movement as investors reassess future growth.

Miss

If Figma misses expectations, history indicates a potential decline of around 4.85%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product features and their impact on user engagement.
2Insights into customer acquisition strategies and their effectiveness.
3Details on partnerships or integrations with other software platforms.
4Management's perspective on market competition and positioning.