Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data Figma, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2023
FY2025
FY2025
Revenue
505
749
1,056
Cost of revenue
44.5
87.5
186
Gross profit
460
661
870
Research and development
165
751
1,030
Selling and marketing
201
472
576
General and administrative
168
316
556
Operating expenses
534
1,539
2,161
Operating income
-73.5
-877
-1,290
Interest income
19.9
63.7
62.2
Other non-operating income
1,019
84.4
64.8
Pre-tax income
946
-793
-1,226
Income tax
208
-61
24.8
Net income
738
-732
-1,250
EBITDA
-65
-870
-1,275
EPS, basic
1.70
-3.74
-3.71
EPS, diluted
1.62
-3.74
-3.71
Shares, basic (weighted)
168
196
337
Shares, diluted (weighted)
187
196
337
Balance sheet
FY2023
FY2025
FY2025
Cash and equivalents
1,270
487
403
Short-term investments
971
1,252
Receivables
131
248
Other current assets
48.9
85.3
Total current assets
1,638
2,005
Property, plant and equipment
15
20
Lease right-of-use assets
28.8
57.4
Goodwill
11.4
11.4
101
Intangible assets
2.51
19.1
Long-term investments
353
599
Other non-current assets
93.8
121
Total assets
1,793
2,348
Accounts payable
4.16
4.5
Accrued liabilities
31.1
66.5
Deferred revenue
381
595
Total current liabilities
447
776
Lease liabilities
17.8
55.8
Other non-current liabilities
4.3
5.62
Total liabilities
469
838
Paid-in capital
1,186
2,950
Retained earnings
-193
-1,443
Other comprehensive income
1.31
4
Shareholders' equity
1,043
1,324
1,511
Total equity
1,043
1,324
1,511
Total liabilities and equity
1,793
2,348
Cash flow statement
FY2023
FY2025
FY2025
Net income
738
-732
-1,250
Depreciation and amortization
8.5
7.69
15.6
Stock-based compensation
2.7
948
1,364
Deferred income tax
0
-1.17
-2.14
Change in receivables
-39.6
-42.7
-118
Change in payables
-2.67
0.53
0.15
Cash from operations
1,047
-61.7
251
Capital expenditures
-3.74
-1.98
-4.44
Acquisitions
0
0
-58.3
Purchases of investments
-224
-1,323
-1,248
Sales and maturities of investments
156
448
840
Cash from investing
-57.3
-784
-371
Stock issued
0
60
0
Share buybacks
-0
-0.86
0
Cash from financing
0
62.5
43.3
Net change in cash
990
-784
-77.4
Free cash flow
1,044
-63.7
246
Income taxes paid
7.04
196
28.6
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $20.85 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
79.1%
Gross profit / revenue.
Operating margin
-123.8%
Operating income / revenue.
EBITDA margin
-122.5%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-122.0%
Pre-tax income / revenue.
Net margin
-123.1%
Net income / revenue.
FCF margin
18.1%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
19.5%
Cash from operations / revenue.
Return on equity (ROE)
-106.8%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-67.1%
Net income / average total assets.
Return on invested capital (ROIC)
-121.5%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
95.0%
Research and development expense / revenue.
Stock-based pay / revenue
130.6%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
1.3%
Capital expenditures / revenue.
D&A / revenue
1.3%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
41.0%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
31.6%
Gross profit vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
14.1%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
31.0%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
72.3%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
2.45x
Current assets / current liabilities.
Quick ratio
2.30x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
2.07x
(Cash + short-term investments) / current liabilities.
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$2.99
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$2.43
Revenue / diluted weighted shares.
FCF per share
$0.44
Free cash flow / diluted weighted shares.
Operating cash flow per share
$0.47
Cash from operations / diluted weighted shares.
Book value per share
$2.80
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
8.67x
Market cap / revenue.
P/B
7.52x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
8.15x
Market cap / tangible book value, when positive.
P/FCF
47.8x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
44.6x
Market cap / cash from operations, when positive.
EV/Sales
7.37x
Enterprise value / revenue.
EV/FCF
40.7x
Enterprise value / free cash flow, when both are positive.
FCF yield
2.1%
Free cash flow / market cap.
Earnings yield
-14.2%
Net income / market cap (the inverse of P/E).
What was Figma, Inc.'s revenue in fiscal 2025?
Figma, Inc. reported revenue of $1.06B for fiscal 2025, 41% higher than the year before.
Was Figma, Inc. profitable in fiscal 2025?
No. It reported a net loss of $1.25B.
How much free cash flow did Figma, Inc. generate in fiscal 2025?
Cash from operations of $250.7M minus capital expenditures of $4.4M left free cash flow of $246.2M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.