Figma Inc (FIG) reported its first-quarter earnings after the bell Thursday, and the numbers were strong enough to send shares up nearly 8% in after-hours trading. The collaborative design software company beat on both the top and bottom lines, and raised its full-year outlook.
Revenue came in at $333.44 million, topping the $313.16 million analysts were looking for. Adjusted earnings were $0.10 per share, beating the $0.06 consensus. Revenue was up 46% from a year ago, and the company generated $97.3 million in cash from operations and $88.6 million in adjusted free cash flow during the quarter.
“Q1 was an incredible quarter for Figma: revenue growth accelerated for the second consecutive quarter and customers are going bigger and broader with Figma than ever before,” said Dylan Field, co-founder and CEO of Figma.
Figma ended the quarter with $1.6 billion in cash, cash equivalents, and marketable securities.
Looking ahead, Figma expects second-quarter revenue between $348 million and $350 million, well above the $326.98 million analysts had forecast. The company also raised its full-year revenue guidance from a range of $1.366 billion to $1.374 billion to a new range of $1.422 billion to $1.428 billion, versus the $1.362 billion consensus.
Figma shares were up 7.81% in after-hours trading Thursday, trading at $21.82 at the time of publication.
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