Figma reports $370M Q2 revenue, raises FY outlook by $40M as AI adoption accelerates

Figma just posted $370.1 million in second-quarter revenue, a 48% jump from the same period last year, and promptly raised its full-year revenue forecast by $40 million. For a company that was nearly swallowed by Adobe’s $20 billion acquisition attempt before regulators killed the deal, life as an independent public company seems to be going just fine. The design software maker now expects full-year 2026 revenue between $1.463 billion and $1.467 billion, implying roughly 39% growth at the midpoint. That Q2 number also blew past the company’s own guidance of $348 to $350 million. Three consecutive quarters of accelerating year-over-year revenue growth is the kind of trend line that makes growth investors salivate. The numbers behind the numbers Net dollar retention came in at 136%. Existing customers are spending 36% more than they were a year ago. That’s an exceptional number in SaaS land, where anything above 120% is generally considered strong. The enterprise traction is particularly striking. Customers generating more than $100,000 in annual recurring revenue grew 46% year-over-year to 1,635. The cohort spending above $10,000 in ARR expanded 34% to 15,964. Free cash flow hit $53...