Bitcoin News Today: Figma’s AI Push and Customer Stickiness Drive 41% Revenue Surge, But Stock Falls on Valuation Concerns

Figma Inc. (NYSE: FIG) reported a significant revenue increase for the second quarter of 2025, with revenue jumping 41% year-over-year to $249.6 million. The design and collaboration platform attributed this growth to a combination of new product offerings and expanded feature sets, including AI-powered tools such as Figma Make, Figma Draw, Figma Sites, and Figma Buzz. These enhancements, designed to streamline the product development lifecycle, have driven deeper customer engagement, with over 80% of Figma’s customers using two or more products and two-thirds utilizing three or more, as of June 30, 2025.

The company’s financial performance also reflected strong operational metrics. Figma reported a Net Dollar Retention Rate of 129% for customers with annual recurring revenue (ARR) exceeding $10,000, underscoring continued customer loyalty and expansion. The total number of paid customers with ARR above $10,000 grew to 11,906, while those with ARR over $100,000 reached 1,119. Praveer Melwani, Chief Financial Officer, highlighted the firm’s ability to deliver best-in-class revenue growth alongside a positive operating margin, driven by strategic investments in AI and platform expansion.

In addition to financial milestones, Figma announced its holding of $30.136 million in digital assets, including a spot Bitcoin ETF, marking its first foray into digital assets. The company also expanded its platform through the acquisitions of Modyfi and Payload, bolstering capabilities in motion design and developer tooling. These strategic moves, alongside the launch of Figma’s Dev Mode MCP Server—designed to enhance developer workflows—reinforce Figma’s vision to support teams across the entire product lifecycle.

Looking ahead, Figma provided guidance for the third quarter and full year of 2025, projecting third-quarter revenue between $263.0 million and $265.0 million, and full-year revenue between $1.021 billion and $1.025 billion. Non-GAAP operating income for the full year is expected to range between $88.0 million and $98.0 million. The company plans to continue investing in AI and platform development, while maintaining a focus on operational efficiency. A conference call to discuss Q2 results and outlook was hosted on September 3, 2025, with the investor presentation and replay available on Figma’s investor relations website.

Market reactions to Figma’s performance, however, were mixed. Following the earnings report, the stock plunged by more than 18% at the open on Thursday, with analysts noting that the results, while in line with expectations, did not address concerns about the company’s valuation. BofA Securities lowered its price target from $85 to $69, citing a high enterprise value-to-sales ratio of 31.6 for 2026 compared to 8.2 for large-cap software peers. Meanwhile, Wolfe Research maintained a "peer perform" rating but highlighted the potential dilutive effect of 11.4 million employee shares set to become tradable on September 5, 2025.

The broader crypto market also saw movement, with spot Bitcoin ETFs reversing their recent underperformance by drawing $333 million in net inflows on September 2. This marked a shift from August, when ether ETFs had seen stronger demand. Figma’s entry into the digital asset space, albeit modest, aligns with a growing trend among technology firms to explore crypto-related strategies.

Figma’s continued focus on innovation and customer retention, supported by a robust financial position, positions the company well for sustained growth in the design and digital product development sector. As it navigates market expectations and expands its product suite, the company’s ability to maintain momentum in a competitive environment will be closely watched by investors and industry observers.

Source:

[1] Figma Announces Second Quarter 2025 Financial Results (https://investor.figma.com/news-events/news/news-details/2025/Figma-Announces-Second-Quarter-2025-Financial-Results/default.aspx)

[2] Figma plunges 18% as earnings meet views, valuation cut (https://finance.yahoo.com/news/figma-warns-upcoming-share-unlock-205354452.html)

[3] Spot Bitcoin ETFs Rebound, Trump-Backed WLFI Token ... (https://www.gemini.com/blog/spot-bitcoin-etfs-rebound-after-eth-etfs-dominate-in-august-trump-backed)