Figma’s IPO: Key Takeout | Luck
Design Software Company Figma I applied for an IPOis expected to raise up to $1.5 billion. It will be more than a year later to enter the open market. Collapse Adobe attempted to acquire $20 billion.
S-1 filing It includes key insights into Figma’s growth, customer base, and founder-driven strategies.
Read below for important insights that potential investors should know.
1. Exceptional revenue growth and profitability
- Revenues reached $749 million in 2024an increase of 48% from 2023, with 12 months of revenue of $821 million; 91% total margin.
- in In the first quarter of 2025, revenues increased 46% year-on-year. Up from $13.5 million in the first quarter of 2024, quarter net profit tripled to $228.2 million..
- What is Figma Profitable in 2023however, in 2024 it was a one-time employee stock compensation event and not an ongoing operation, so it reported a net loss of $732 million. The company returned to profitability between late 2024 and 2025.
2. Large market reach and customer base
- 13 million monthly active users Early 2025.
- 95% of Fortune 500 companies Using Figma, two-thirds of users show wide adoption across business functions rather than professional designers.
- As of March 2025, I had Figma 1,031 customers donate over $100,000 a year (A 47% increase from the previous year) and 11,107 customers who donate more than $10,000 a year.
3. IPO structure and leadership management
- Figma pursues Dual-class shared structure: CEO Dylanfield retains majority voting rights through Super Voting Class B shares, protecting founder-led strategic direction after IPO.
- Field personally manages around 75% of its voting rights, with co-founder Evan Wallace’s family trust holding about a third of its special voting stock (field control manages the voting)..
4. Financial health and revenue use
- Figma reports Minimum debtonly revolving credit lines.
- Revenue from IPOs is expected to be supported Global expansion, R&D, AI innovation, enterprise integration, and acquisition possibilities. The company is also working towards FedRamp certification to target US government contracts.
5. Strategic positioning and a competitive landscape
- Figma’s S-1 mentions ai hundred timeshighlights both the opportunities and challenges of integrating generated AI into the design workflow. The company warns that AI investments could affect efficiency in the short term, but are considered important for future growth..
- Figma’s collaboration cloud-based platform is positioned as a solution for fragmented design workflows, enabling real-time, multi-user collaboration and seamless designer development handoffs.
- The failed $20 billion acquisition of Adobe (blocked by regulators) continues to shape market expectations. Recent secondary transactions valued Figma at $12.5 billion, but analysts expect a public rating $15 billion to $20 billion range.
6. Liquidity and employee morale
- The key 2024 tender offer allowed employees and executives to sell pre-IPO shares, provide liquidity and potentially help them maintain. CEO Dylan Field We sold $20 million in shares during this event..
7. IPO details and market context
- Figma is listed in New York Stock Exchange under the ticker “Figure”. The number of shares and price range has not been disclosed yet.
- The IPO is expected to rise to $1.5 billionpotentially makes it one of the biggest technology IPOs of 2025, rivals Provided by CoreWeave.
Disclaimer: In this story, Fortune used the generator AI to assist with the first draft. The editors checked the accuracy of the information prior to publication.