Figma files to go public on the NYSE as ‘FIG’

The collaborative design tool Figma continues its march toward going public in one of the most highly anticipated IPOs in the history of design software.

Wasting 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 announced that the S-1 has been made available to the public.

That S-1, which you can read here, is full of interesting tidbits, as private companies disclose financial information for the first time.

The biggest news? Figma disclosed making $749 million in revenue in 2024—with a (non GAAP) profit margin of around 17% (a figure that looks at profits pre-taxes and some other expenditures). Its revenue was up 48% from 2023, signaling that Figma’s growth is quite strong.

With revenue in hand, we can see that Figma is about 1/28th the size of Adobe, or about a third of the size of Canva (on a balance sheet, at least). Meanwhile, Figma’s install numbers are confident. The company claims 13 million people use Figma monthly. Ninty-five percent of Fortune 500 companies use the software. And a surprising two thirds of its users aren’t designers.

Figma’s public debut date and share pricing has yet to be determined, but it will go by the very cute NYSE symbol “FIG.”