NEW YORK, Feb 19, 2026, 05:04 EST — Premarket
- Figma jumped roughly 15% at the open after the company’s outlook and latest numbers came in ahead of expectations.
- Stronger demand and new AI features gave the company a boost, though costs are still under scrutiny.
- Whether the rally sticks is riding on the opening bell, traders say.
Figma climbed roughly 15% ahead of the open Thursday, with the design software firm delivering quarterly numbers and a 2026 revenue forecast above the Street’s estimates. Shares were pointed to $27.79, up from Wednesday’s close of $24.19. (Yahoo Finance)
It’s a notable shift: Figma’s post-IPO stock has swung sharply, and there’s no consensus among investors on whether next-gen software names like this can keep expanding as AI gains ground and spending gets squeezed. “2025 was a massive year for us,” CEO Dylan Field told MarketWatch following the results. (MarketWatch)
Figma reported a 40% jump in fourth-quarter revenue, reaching $303.8 million, and issued a first-quarter outlook of $315 million to $317 million. For the full year 2026, the company projects revenue in the range of $1.366 billion to $1.374 billion, targeting non-GAAP operating income between $100 million and $110 million. (Figma)
Praveer Melwani, the chief financial officer, put it plainly: the company is wagering that advances in AI will actually boost Figma’s usefulness, not undermine it. “The core sort of thesis for us is that as AI gets better, Figma gets better,” he told Reuters. The company is counting on both new features and acquisitions to differentiate itself from much larger players like Adobe. (Reuters)
Field described the period as “our best quarter yet” in his prepared comments for the earnings call, adding that Figma is “shipping faster than ever” since doubling its product lineup from four to eight in 2025.
He highlighted fresh AI-powered workflow tools, like a new feature that pulls user interfaces created in Anthropic’s Claude Code straight into Figma as layers you can edit. According to the company, people used its AI image-editing tools over 10 million times just weeks after a December update. Figma also called out its acquisition of Weavy—now rebranded as “Figma Weave”—aimed at expanding its creative toolkit.
Figma shares haven’t managed to hang onto their initial IPO pop, trading far under those early highs. Every earnings release since then has become something of a referendum on its growth and retention — and whether those can finally support a more stable valuation. (Barron’s)
Cost pressures remain in the picture. Figma logged a GAAP net loss of $226.6 million last quarter—despite putting up non-GAAP profits—and flagged that IPO-linked stock comp had skewed the headline numbers. (Yahoo Finance)
There’s more paperwork in the stack for investors now. According to its investor relations page, Figma submitted a Form 10-K annual report and a Form 8-K current report on Feb. 18. (Figma)
Traders are watching to see if AI collaborations actually drive lasting product gains, or just add to infrastructure and development costs. The Figma-Anthropic partnership sits at the center of this discussion, with new tools aiming to connect code and design. (The Economic Times)
