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Figma sees Q2 revenue above estimates after AI fees
Figma, a San Francisco-based design software company, said it expects revenue of about US$349 million in the quarter ending June.
The forecast is above analysts’ projection of US$330 million after Figma started charging users in March for AI features beyond a usage limit.
More than 75% of higher-tier customers who crossed that limit bought extra credits, while about 5% of those users are no longer active on the platform, said CFO Praveer Melwani.
The shares rose about 10% in extended trading after closing at US$20.24 in New York, though the stock remains 39% below its US$33 IPO price amid investor concerns that AI tools could pressure software companies.
🔗 Source: Bloomberg
🧠 Food for thought
Implications, context, and why it matters.
Figma’s AI charges use a credit system
- Figma plans to start charging for both software seats and AI credits in March 2026 through a hybrid model 1.
- Each paid user receives a monthly pool of AI credits. Features like the prompt-based tool Figma Make draw from that balance 2.
- If a person uses all included credits, the company must turn on an AI credits subscription or pay-as-you-go billing for that person to keep using AI tools. If not, access stops until credits reset 3.
- Usage has been strong. By the Q4 2025 earnings call, about 75% of paid customers with more than US$10,000 in annual recurring revenue (ARR), a software-industry measure of yearly subscription revenue, used AI credits each week 1.
Software companies are trying new ways to charge for AI
- Figma offers an example for software companies figuring out how to price AI features that need heavy computing power.
- Adding usage-based AI credits on top of seat-based subscriptions ties AI revenue more closely to how much customers use the tools 1.
- The early conversion rate suggests customers will pay for advanced AI tools, which gives weight to this hybrid pricing model for other software-as-a-service firms.
- That approach also costs money up front. Figma projected its non-GAAP operating margin, a profitability measure that excludes some items, would drop from 12% in 2025 to about 8% in 2026 as it pays for AI investments 1.
