FIG — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-14

• In 2025, we doubled our product portfolio with the launch of four new products: Figma Make, Figma Sites, Figma Buzz, and Figma Draw. Figma Make lets users go directly from prompt to working prototype, at which point they can immediately validate an idea and choose to iterate on it. Users can improve…

• leading open-source headless content management system, and Weavy Inc., now Figma Weave, which brings the world’s leading AI models together with professional editing tools on a single, browser-based canvas.

• As we have grown our platform, we have also grown our community of both free and paying users, in part by offering enhanced features and functionality based on user and organizational needs. Our free Starter plan makes it easy for anyone to quickly get started with Figma and experience the benefits …

• We calculate annual recurring revenue (“ARR”) as the annualized value of our active customer agreements as of the measurement date, assuming any agreement that expires during the next twelve months following the measurement date is renewed on existing terms.2 ARR is not a forecast of future revenue,…

• We believe that the number of Paid Customers with more than $10,000 in ARR on our platform is an important indication of the value that our products deliver. We define a Paid Customer with more than $10,000 in ARR as a Paid Customer with a total of $10,000 or more of ARR as of the last day of the

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• In 2025, we doubled our product portfolio with the launch of four new products: Figma Sites, Figma Make, Figma Buzz, and Figma Draw. Figma Sites is a product that lets you design a website and directly publish it to the web, with a URL of your choice. Figma Make is an artificial intelligence (“AI”)-…

• As we have grown our platform, we have also grown our community of both free and paying users, in part by offering enhanced features and functionality based on user and organizational needs. Our free Starter plan makes it easy for anyone to quickly get started with Figma and experience the benefits …

• On August 1, 2025, we completed the IPO, in which we issued 12.5 million shares of our Class A common stock at a public offering price of $33.00 per share, which resulted in net proceeds of $393.1 million after deducting underwriting discounts and commissions and before deducting offering costs. In …

• In connection with the IPO, all outstanding shares of our convertible preferred stock automatically converted into 246.0 million shares of Class A common stock on a one to one basis.

• In connection with the IPO, we recognized a one-time cumulative stock-based compensation expense of $975.7 million associated with the vested restricted stock units (“RSUs”) with a liquidity-event performance-based vesting condition, which was satisfied in connection with the IPO and for which the s…

Text added vs the prior filing · source: 10-Q · 2026-05-14

• Our management, including our Chief Executive Officer and Chief Financial Officer, believes that our disclosure controls and procedures and internal control over financial reporting are designed to provide reasonable assurance of achieving their objectives and are effective at the reasonable assuran…

• objectives will be met. In addition, the design of disclosure controls and procedures must reflect the fact that there are resource constraints and that management is required to apply its judgment in evaluating the benefits of possible controls and procedures relative to their costs. Moreover, proj…

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• Our management, including our Chief Executive Officer and Chief Financial Officer, believes that our disclosure controls and procedures and internal control over financial reporting are designed to provide reasonable assurance of achieving their objectives and are effective at the reasonable assuran…

Text added vs the prior filing · source: 10-Q · 2026-05-14

• We have made changes to our pricing, packaging, and billing models in the past, and we expect to continue to make changes to our pricing, packaging, and billing models in the future. For example, in March 2025, we moved away from user-driven upgrades. Prior to March 2025, seat upgrades on certain pl…

• provide our customers with more visibility and upfront controls. In 2025, we also introduced AI credits across all Figma seats. Starting in March 2026, we began enforcing AI credit limits and introduced flexible options for incremental usage, including monthly AI credit add‑ons to existing subscript…

• We may become unable to attract new customers and retain existing customers at the same price or based on the same seat-based subscription model that we have used historically. We may from time to time decide to make further changes to our billing models due to a variety of reasons, including, but n…

• In addition, we may offer, or customers may demand, options that change who bears the cost of AI usage or how AI usage is provisioned, including by allowing customers to use their own third-party AI credentials or accounts (for example, bring-your-own-key arrangements), which may reduce the amount o…

• Our ability to increase or maintain our prices may be constrained by competitive dynamics, customer expectations or pressure to provide discounts, or economic conditions. Pricing pressure may require us to reduce the price we charge our customers for usage of our AI products and features, absorb add…

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• We have made changes to our pricing, packaging, and billing models in the past, and we expect to make occasional changes to our pricing, packaging, and billing models in the future. For example, in March 2025, we moved away from user-driven upgrades. Prior to March 2025, seat upgrades were driven by…

• revenue recognition from such arrangements. As a result, the introduction of alternative billing arrangements may impact our business, operating results, and financial condition. The changes to our pricing and packaging plans introduced in March 2025 have made, and any further changes to components …

• Further, as AI and its integration into software becomes more prevalent and its use cases become more sophisticated, including with respect to our products and the products of our competitors, there could be a decrease in the number of designers, developers, and other collaborators that use our plat…

• Moreover, as the markets for our products and services mature, as we continue to add additional offerings to our platform, and as competitors introduce new products and services that compete with ours, we may be unable to attract new customers and retain existing customers at the same price or based…

• In order for us to improve our operating results and continue to grow our business, it is important that we continue to attract new customers and that existing customers continue to renew and increase their usage of our products, which we currently charge for on a per-user basis. Customers have no o…

Text added vs the prior filing · source: 10-Q · 2026-05-14

• On March 1, 2026, Dylan Field, our Co-Founder, President, Chief Executive Officer, and Chair of our Board of Directors, entered into a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) (the “2026 Field Diversification Plan”) providing for the potential sale of up to (i) 750,…

• commence trading until Mr. Field’s predecessor trading plan, dated August 4, 2025, has terminated pursuant to its terms and applicable cooling-off periods have been met. The duration of the 2026 Field Diversification Plan is until the earlier of August 31, 2027, the completion of all transactions su…

• On February 27, 2026, Praveer Melwani, our Chief Financial Officer, entered into a modification of his previously disclosed trading plan, adopted on August 5, 2025, intended to satisfy the affirmative defense of Rule 10b5-1(c) (such modification, the “Modified Melwani Diversification Plan”). The Mod…

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• On August 4, 2025, Dylan Field, our Co-Founder, President, Chief Executive Officer, and Chair of our Board of Directors, entered into a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) (the “Field Diversification Plan”) providing for the potential sale of up to (i) 2,000,00…

• On August 5, 2025, Praveer Melwani, our Chief Financial Officer, entered into a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) (the “Melwani Diversification Plan”) providing for (i) the potential sale of up to 565,326 shares of our Class A common stock held directly by Mr…

• On August 5, 2025, Brendan Mulligan, our General Counsel and Secretary, entered into a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) (the “Mulligan Diversification Plan”) providing

• On August 5, 2025, Tyler Herb, our Chief Accounting Officer, entered into a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) (the “Herb Diversification Plan”) providing for the potential sale of up to (i) 91,111 shares of our Class A common stock held directly by Mr. Herb a…

• On August 6, 2025, Kristopher Rasmussen, our Chief Technology Officer, entered into a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) (the “Rasmussen Diversification Plan”) providing for the potential sale of up to 3,180,204 shares of our Class A common stock held directly…