Equity Profile

FIG

Figma, Inc.

Information TechnologyApplication Software$14.0B

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....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of a company's profitability, and Figma has consistently surprised analysts in recent quarters.

$0.10

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is crucial for sustaining its market position.

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. As businesses increasingly focus on digital transformation and remote collaboration, Figma's platform is becoming essential for teams to design and prototype together in real-time.

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, beating expectations by a significant margin. The stock reacted positively, gaining 6.86% the following day.

Management Promises & Guidance

Continued focus on enhancing user experience and collaboration features.
Commitment to expanding into new markets and increasing user acquisition.
Plans to invest in product development to stay ahead of competitors.

Expectations

Wall Street Expectations

Analysts are generally optimistic about Figma's upcoming earnings, given its strong history of beating EPS estimates. However, there is uncertainty around revenue figures due to a lack of guidance.

Bull Case

If Figma continues its trend of beating EPS estimates and shows strong user growth, it could lead to a significant stock price increase.

Bear Case

If the company fails to meet expectations or provides weak guidance, it could lead to a sharp decline in stock value.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.10

EPS is a key indicator of a company's profitability, and Figma has consistently surprised analysts in recent quarters.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is crucial for sustaining its market position.

User Growth

N/A

An increase in active users can indicate growing demand for Figma's services, which is vital for future revenue.

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 critical for Figma's revenue potential and overall market position, and any significant changes could impact investor sentiment.

How does management plan to address competition in the design software market?

Understanding Figma's strategy against competitors can provide insights into its future growth and market share.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Figma's ability to sustain its growth amid increasing competition, as its unique collaborative features set it apart.

Supporting Evidence

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

The options market is pricing in a high volatility move, suggesting traders anticipate significant news.

Recent trends in user engagement suggest a robust demand for Figma's services.

Key Risk

If user growth falls below expectations, it could challenge the current bullish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will likely hinge on Figma's ability to maintain its growth trajectory and fend off competition.

Bull Confirmed If

An EPS of $0.10 or better, coupled with strong user growth metrics.

Bear Confirmed If

An EPS below $0.10 or indications of stagnant user growth.

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

If Figma beats expectations, history suggests the stock could rise by around 2.55%, confirming the bullish outlook.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

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

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product features or enhancements.
2Management's commentary on user acquisition strategies.
3Insights into competitive pressures and market positioning.
4Guidance on revenue expectations for the next quarter.

See the full picture

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Company Snapshot

Figma, Inc. is a software company in the Information Technology sector, specializing in collaborative design tools....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of a company's profitability, and Figma has consistently surprised analysts in recent quarters.

$0.10

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is crucial for sustaining its market position.

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, beating expectations by a significant margin. The stock reacted positively, gaining 6.86% the following day.

Management Promises & Guidance

Continued focus on enhancing user experience and collaboration features.
Commitment to expanding into new markets and increasing user acquisition.
Plans to invest in product development to stay ahead of competitors.

Expectations

Wall Street Expectations

Analysts are generally optimistic about Figma's upcoming earnings, given its strong history of beating EPS estimates. However, there is uncertainty around revenue figures due to a lack of guidance.

Bull Case

If Figma continues its trend of beating EPS estimates and shows strong user growth, it could lead to a significant stock price increase.

Bear Case

If the company fails to meet expectations or provides weak guidance, it could lead to a sharp decline in stock value.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.10

EPS is a key indicator of a company's profitability, and Figma has consistently surprised analysts in recent quarters.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is crucial for sustaining its market position.

User Growth

N/A

An increase in active users can indicate growing demand for Figma's services, which is vital for future revenue.

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 critical for Figma's revenue potential and overall market position, and any significant changes could impact investor sentiment.

How does management plan to address competition in the design software market?

Understanding Figma's strategy against competitors can provide insights into its future growth and market share.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Figma's ability to sustain its growth amid increasing competition, as its unique collaborative features set it apart.

Supporting Evidence

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

The options market is pricing in a high volatility move, suggesting traders anticipate significant news.

Recent trends in user engagement suggest a robust demand for Figma's services.

Key Risk

If user growth falls below expectations, it could challenge the current bullish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will likely hinge on Figma's ability to maintain its growth trajectory and fend off competition.

Bull Confirmed If

An EPS of $0.10 or better, coupled with strong user growth metrics.

Bear Confirmed If

An EPS below $0.10 or indications of stagnant user growth.

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

If Figma beats expectations, history suggests the stock could rise by around 2.55%, confirming the bullish outlook.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

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

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product features or enhancements.
2Management's commentary on user acquisition strategies.
3Insights into competitive pressures and market positioning.
4Guidance on revenue expectations for the next quarter.