FIG Stock Surges Overnight: CEO Says 'Not Dead' To Silence AI Doomsayers Amid Industry Praise

• In Q1, Figma’s revenue increased 46%, above expectations, and paid users increased 54%.
• FIG stock jumped 13% in overnight trading following the report.
• Stocktwits sentiment for FIG shifted to ‘extremely bullish’ from ‘bullish.’

Figma topped first-quarter expectations on Thursday and raised its full-year forecast, pushing back against concerns from critics and investors who believed emerging AI design tools from Anthropic and others were weighing on its business.

“Quick update: not dead,” Figma CEO Dylan Field said on an X post, outlining the company's Q1 performance. “Design matters more than ever,” he added. Shares of the company were surging over 12% overnight heading into Friday.
 

The performance earned him a hat-tip from fellow CEOs. “Every founder is cheering for @zoink,” Opendoor CEO Kaz Nejatian said on X. Coinbase CEO Brian Armstrong simply replied “‘not dead’ lol” to Field’s post.

Figma shares have been under pressure since the company’s initial public offering last July, and more so recently. The stock had dropped 8% in a single day last month, just after the launch of Anthropic’s Calude Design, and faced a similar selloff in March after Google introduced a revamped Stitch tool.

To be sure, Figma's rival, Adobe, also faced selling pressure, and its stock is down 32% year to date. FIG shares are down 46% YTD and about 40% from their IPO price.

Retail View On FIG

On Stocktwits, retail sentiment for FIG shifted to ‘extremely bullish’ from ‘bullish,’ with 24-hour message volume rising by over 600%.

“$FIG The bear case for Figma was that AI would compress seats, automate design work, and erode its collaborative moat, but we are seeing the opposite -- AI is expanding Figma’s seat footprint, not shrinking it,” a trader said.

Figma Q1 Results Recap

The results show that AI disruption isn’t as pronounced as previously featured, and might even be a tailwind. Figma said it was able to use AI to its advantage, bringing more customers on board and getting them to spend more.

“As AI gets better, Figma is accelerating and customer usage and workflows on our platform are deepening. Our platform and AI products drove faster growth for both new customer acquisition and expansion within existing accounts,” CFO Praveer Melwani said in the earnings statement.
 

Figma’s first-quarter revenue grew 46% to $333.4 million, beating estimates of $316 million. Adjusted net income rose to $0.10 per share, up from $0.03 a year earlier, also surpassing expectations of $0.06.

Paid customers grew 54% to about 690,000. Customers paying Figma more than $10,000 annually increased 37%, and those paying it more than $100,000 increased 48%.

Figma raised its full-year 2026 revenue expectations to $1.42 billion and $1.43 billion, compared with its prior forecast of $1.36 billion to $1.37 billion, beating analyst expectations of $1.37 billion for the year.

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