On January 5, RBC Capital analyst Rishi Jaluria reduced the firm's price target on Figma Inc. (NYSE: FIG) to $38 from $65, maintaining a Sector Perform rating. The firm stated that 2026 will be a critical year, with companies ready for enterprise AI adoption expected to grow significantly, while others may face challenges as AI is perceived to make traditional software obsolete. Management teams are providing conservative guidance for early 2026, but enterprise spending is starting to stabilize and improve in some areas, with GenAI driving ongoing innovation.
In the third quarter of 2025, Figma Inc. reached a major milestone by surpassing a $1 billion annual revenue run rate. Revenue increased 38% year-over-year to $274.2 million, exceeding previous forecasts. This growth was largely attributed to the fast adoption of AI-powered tools such as Figma Make. Approximately 30% of high-value customers now use Figma Make weekly, indicating a successful move toward AI-native design workflows.
Figma also partnered with OpenAI to introduce a dedicated Figma App for ChatGPT, enabling users to create diagrams and charts in FigJam through conversational AI. For the fourth quarter, the company anticipates revenue between $292 million and $294 million. Full-year revenue is projected to be between $1.044 billion and $1.046 billion, representing 40% year-over-year growth.
Figma Inc. develops a browser-based tool for designing user interfaces that assists design and development teams in building various products.