Figma's Q2 revenue rose 48% year-over-year, but its share price dropped more than 15% in after-hours trading.

Figma reported its latest second-quarter fiscal 2026 results: revenue hit $370.1 million, up 48% year-over-year, exceeding the company’s prior Q2 guidance range. Year-over-year revenue growth is set to accelerate in the third quarter. GAAP gross profit stood at $309.6 million, with a GAAP gross margin of 84%. Non-GAAP gross profit came in at $314 million, for a non-GAAP gross margin of 85%. Year-over-year growth in both GAAP and non-GAAP gross profit accelerated to 40%. GAAP operating loss totaled $117.3 million, with a GAAP operating margin of -32%. Non-GAAP operating income was $36.1 million, with a non-GAAP operating margin of 10%. Both GAAP and non-GAAP operating results were impacted by Figma’s increased sales and marketing investments related to its annual user conference, Config. Operating activities generated net cash of $60.9 million, delivering an operating cash flow margin of 16%. Free cash flow reached $53.2 million, for a free cash flow margin of 14%. According to market data from BIT (bit.com), Figma’s U.S. shares dropped 15.56% in after-hours trading, and were trading at $23.83 during the extended session.