FIGFigma, Inc.
Services-Prepackaged Software
- Revenue
- $1.1B
- 41% YoY
- Operating margin
- -122.2%
- 4.3% YoY
- EBITDA
- −$1.3B
- 47% YoY
- Market cap
- $11.4B
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- 27.5
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCYes129% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo4% of assetsOver 40% of assets
- Shareholder dissentNo98% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo27.5 per 10K words · 99th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$11.4B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$257M netNet sales over $10M in 12 months
Financials
| Metric | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|
| Revenue | $505M | $749M | $1.1B | 41% |
| Operating income | −$73M | −$877M | −$1.3B | 47% |
| Net income | $738M | −$732M | −$1.3B | 71% |
| Operating cash flow | $1.0B | −$62M | $251M | 506% |
| Capex | $4M | $2M | $4M | 125% |
| Stock-based comp | $3M | $948M | $1.4B | 44% |
| Buybacks | $2K | $861K | $0 | 100% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Jun 11, 2026 | Field Dylan | SCHEDULE 13D/A | 15.0% | Passive |
| Jan 16, 2026 | Field Dylan | SCHEDULE 13D/A | 16.9% | Passive |
| Oct 28, 2025 | Field Dylan | SCHEDULE 13D | 17.8% | Passive |
Insider trading
- Open-market buys, 12 mo
- $37M · 3
- Open-market sells, 12 mo
- $293M · 158
- Net
- −$257M
Pay vs performance
No pay-versus-performance disclosure yet.