Figma, Inc. (FIG) Stock Price & How to Invest
Short answer
You can invest in Figma (FIG) by buying shares or fractional shares at any major broker, through an ETF that holds it, or as one holding in a thematic basket. The thesis is that Figma is the default collaborative design platform and is now extending from interface design into AI-assisted creation and code, with revenue growth that reaccelerated to ~46% in Q1 2026 and net dollar retention near 139%. The biggest risk is valuation paired with AI disruption: design is exactly the workflow that generative AI is reshaping, and Figma rents the underlying models from OpenAI, Anthropic, and Google, which pressures its once ~90%-plus gross margin.
FIG stock price
As of 2026-06-26, Figma, Inc. (FIG) last closed at $18.62, down 83.9% over the past year. Over the past 52 weeks it has traded between $16.84 and $122.00.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Figma, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Figma, Inc. (FIG) do?
Figma makes a browser-based, collaborative design platform where product teams design interfaces, prototype, and hand off to engineering in one shared file. It makes money through subscriptions priced per seat across tiers (from free to Organization and Enterprise), and increasingly through newer products: Figma Make and AI features for generation, plus Dev Mode, FigJam, Slides, and Sites for adjacent workflows. Land-and-expand drives the model, which is why net dollar retention (~139% in Q1 2026) and seat growth across designers, developers, product managers, and marketers matter as much as new-logo wins.
Figma was founded in 2012 by Dylan Field and Evan Wallace, who bet that design belonged in the browser. In September 2022 Adobe agreed to acquire Figma for about $20 billion, but the companies abandoned the deal in December 2023 after EU and UK regulators signaled no clear path to approval over competition concerns; Adobe paid Figma a $1 billion reverse termination fee. Figma then went public on the NYSE under the ticker FIG on July 31, 2025, pricing its IPO at $33 per share before shares more than tripled on the first day. Dylan Field remains CEO and chair, and continues to set product direction around collaboration and, more recently, AI on the canvas.
What's driving Figma, Inc. (FIG)?
Growth reaccelerated
Q1 2026 revenue rose ~46% year over year to ~$333 million, up from ~40% the prior quarter, and management lifted full-year 2026 guidance toward ~$1.42 billion (about 35% growth). Reacceleration after an IPO is unusual and suggests the core design product is still expanding seats rather than maturing.
Expansion engine and retention
Net dollar retention reached ~139% in Q1 2026, the highest in over two years, meaning existing customers spend meaningfully more each year. Figma's land-and-expand motion pulls in developers, PMs, and marketers beyond core designers, widening the seats it can sell inside an account.
AI moving onto the canvas
Products like Figma Make, Code Layers, Motion, and related AI features aim to turn generative AI into a paid expansion lever rather than a threat, generating layouts, variants, and code inside Figma. If AI usage converts to higher-tier seats, it can support growth even as it adds inference cost.
Profitable, cash-generative model
Even while investing, Figma reported a ~16% non-GAAP operating margin and ~$89 million of free cash flow (a ~27% FCF margin) in Q1 2026. A software business that grows in the 40s and still throws off cash gives it room to fund AI and acquisitions without leaning on capital markets.
What are the risks to Figma, Inc. (FIG)?
The bear case starts with valuation: FIG trades at a premium revenue multiple (price-to-sales in the high-single digits), so the price already assumes durable high growth, and any deceleration tends to compress the multiple sharply (shares ran from a ~$143 peak in August 2025 to the high teens). Competition is direct and well funded: Adobe (Express and Firefly), Canva, and Sketch all push design and AI features, and Adobe remains a deep-pocketed rival even after the failed merger. Most fundamentally, generative AI is reshaping how design itself is produced, which could lower demand for seats or shift value to whoever owns the underlying models; Figma rents those models from OpenAI, Anthropic, and Google, which pushed gross margin down from roughly 92% toward ~86% during 2025.
How is Figma, Inc. (FIG) valued? (approximate, 2026-06-27)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Figma, Inc.'s investor relations page or your broker.
- Q1 2026 revenue: ~$333 million
- Revenue growth (YoY): ~46%
- Net dollar retention: ~139%
- Gross margin: ~86%
- Market cap: ~$9.8 billion
- Price-to-sales (approx.): ~8-9x trailing revenue
Figma carries a premium valuation typical of fast-growing software, with a price-to-sales ratio in the high-single digits as of 2026-06-27 even after the stock fell well below its 2025 post-IPO peak. The multiple reflects ~46% revenue growth, strong retention, and free-cash-flow generation, but it also leaves little room for disappointment. These figures move with each report and with the share price; treat them as a snapshot, not a fixed value.
Who competes with Figma, Inc. (FIG)?
Adobe (Express, Firefly, formerly XD)
The incumbent in creative software and Figma's most direct rival, including the company that tried to acquire it. Adobe retired Adobe XD as a standalone product but pushes Express and the Firefly generative-AI suite, and it commands a large share of the AI design-tool market.
Canva
A consumer and marketing-oriented design platform with hundreds of millions of users and a huge template library. Canva overlaps most in content creation and is training its own AI models, competing for the non-specialist seats Figma also wants to win.
Sketch and other design tools
Sketch and similar interface-design apps target the same professional product-design workflows, though Figma's browser-based, multiplayer model has taken much of that share. They remain alternatives for teams favoring native macOS tools or different pricing.
AI-native design and code tools
A fast-growing field of generative tools that turn prompts into designs, mockups, or working code. These both threaten Figma (by automating design work) and validate the category Figma is moving into with Figma Make and AI on the canvas.
How to invest in Figma, Inc. (FIG)
There are three common ways to get FIG exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so FIG sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where FIG fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Figma, Inc. (FIG)
Figma today is a high-growth design-software company whose main driver is seat expansion plus new AI and developer products, with Q1 2026 revenue of ~$333 million growing ~46% year over year and net dollar retention around 139% (as of 2026-06-27). If you believe Figma stays the system of record for product design and successfully turns AI into a paid expansion lever rather than a margin sink, the question becomes sizing and overlap with software you already own, not timing. The risk is that the stock carries a premium revenue multiple while generative AI lowers the cost of producing design work and large incumbents like Adobe and Canva push their own AI features.
More on Figma, Inc. (FIG)
Whether FIG is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is FIG a buy?, and where the stock could go from here in the FIG stock forecast.
For income investors, whether FIG pays a dividend and how the payout looks is covered in does FIG pay a dividend?
Build a basket around FIG with Walnut
Use Figma, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
Is FIG a good stock to buy right now?
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That depends on your goals, time horizon, and risk tolerance, so this is not advice. The bull case is ~46% revenue growth, ~139% net dollar retention, and AI expansion. The bear case is a premium price-to-sales multiple and the risk that generative AI disrupts design demand while Adobe and Canva compete hard. It has been highly volatile since its 2025 IPO.
What does Figma do?
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Figma makes a browser-based, collaborative design platform where teams design app and website interfaces, prototype, and hand off to engineers in one shared file. It earns revenue mainly from per-seat subscriptions, plus newer products like Figma Make, Dev Mode, FigJam, and AI features that generate layouts, variants, and code inside the canvas.
When did Figma IPO?
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Figma went public on the New York Stock Exchange under the ticker FIG on July 31, 2025. The IPO priced at $33 per share, and the stock more than tripled on its first trading day. It later reached an all-time high near $143 in August 2025 before falling into the teens by mid-2026.
Does FIG pay a dividend?
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No. Figma does not pay a dividend as of June 2026. Like most high-growth software companies shortly after going public, it reinvests cash into product development, AI, sales, and potential acquisitions rather than returning it to shareholders. Any return to investors would come from share-price appreciation, not income.
Is FIG overvalued?
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Figma trades at a premium revenue multiple (price-to-sales in the high-single digits as of 2026-06-27), which prices in continued fast growth. Whether that is overvalued depends on your assumptions: bulls point to ~46% growth and strong retention, while bears note that AI could disrupt design and pressure margins. The market has repriced it sharply both up and down since the IPO.
Why did Adobe not buy Figma?
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Adobe agreed to acquire Figma for about $20 billion in September 2022, but the two companies abandoned the deal in December 2023. EU and UK regulators signaled no clear path to approval over concerns the merger would reduce competition in design software. Adobe paid Figma a $1 billion reverse termination fee, and Figma later went public on its own.
How can I invest in Figma?
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You can buy FIG shares or fractional shares through any major brokerage, hold it inside an ETF or fund that includes it, or own it as one position in a thematic basket alongside related software or AI names. Fractional shares let you invest a set dollar amount rather than buying whole shares at the current price.
What are the main risks of investing in FIG?
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Key risks include a rich valuation that leaves little room for disappointment, direct competition from Adobe and Canva, and the broader risk that generative AI reshapes how design work is produced. Figma also rents AI models from providers like OpenAI, Anthropic, and Google, which has pressured its gross margin. The stock has been very volatile since its 2025 IPO.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Figma, Inc.'s investor relations page or your broker before making investment decisions.