- Figma shares fell nearly 20% after its first quarterly report as a public company.
- Q2 revenue rose 41% to $249.6 million, slightly above expectations.
- Figma forecasts 2025 adjusted operating income of $88–$98 million, near consensus.
- The company disclosed roughly $91 million in Bitcoin holdings and said it bought Bitcoin as a hedge.
- “This is not a Bitcoin holding company,” CEO Dylan Field said, stressing Figma remains a design firm.
On Thursday, shares of Figma fell about 20% after the company released its first quarterly report as a public company, according to Nasdaq data. The decline followed the earnings update and disclosure of company Bitcoin holdings.
The company reported second-quarter revenue of $249.6 million, a 41% increase year over year. Figma gave a 2025 adjusted operating income forecast of $88 million to $98 million, roughly in line with the average analyst projection of $88 million.
Nasdaq showed shares trading at $54.56 on Thursday, down from a high near $122 in early August, days after the company began trading on the NYSE. The firm said in July it had held a multi-million-dollar Bitcoin investment for more than a year via a Bitcoin ETF (an exchange-traded fund that holds Bitcoin), then valued at about $70 million.
A Wednesday filing with the SEC showed the company held nearly $91 million in Bitcoin; see the SEC filing for details. CEO Dylan Field told reporters he was not trying to follow Strategy—formerly MicroStrategy—in making Bitcoin a treasury strategy, saying, “This is not a Bitcoin holding company.”
Figma said it bought Bitcoin as a diversification hedge rather than to build a Bitcoin treasury (companies that buy and hold crypto to influence stock value). The company also said in July that it planned to buy more Bitcoin.
Founded in 2012 as a browser-based interface design tool, Figma has grown into a platform used by cross-functional product teams. An online market poll embedded with the original report addressed related crypto topics; see the poll here.
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