The collaborative design instrument Figma continues its march towards going public in one of the extremely anticipated IPOs within the historical past of design software program.
Losing no time licking its wounds after European regulators blocked its $20 million acquisition by Adobe in late 2023, Figma quietly filed its S-1 paperwork to the SEC in April. Now, it’s introduced that the S-1 has been made obtainable to the general public.
That S-1, which you’ll be able to learn right here, is filled with fascinating tidbits, as non-public corporations disclose monetary info for the primary time.
The largest information? Figma disclosed making $749 million in income in 2024—with a (non GAAP) revenue margin of round 17% (a determine that appears at earnings pre-taxes and another expenditures). Its income was up 48% from 2023, signaling that Figma’s development is sort of sturdy.
With income in hand, we are able to see that Figma is about 1/twenty eighth the scale of Adobe, or about 1/3 of the scale of Canva (on a stability sheet, a minimum of). In the meantime, Figma’s set up numbers are assured. The corporate claims 13 million individuals use Figma month-to-month. Ninty-five p.c of Fortune 500 corporations use the software program. And a stunning two thirds of its customers aren’t designers.
Figma’s public debut date and share pricing has but to be decided, however it would go by the very cute NYSE image “FIG.”
