On August 12, Figma fell 5.05% in regular trading, trading at $23.815/share, with turnover of $87.74 million. The decline reflects a continued unwinding of post-earnings selling pressure compounded by a broader pullback in the AI application software sector.

Figma reported Q2 results on August 5 that beat expectations on all headline metrics — revenue grew 48% year-over-year to $370.1 million versus the $351.6 million consensus, and adjusted EPS of $0.08 doubled the $0.04 estimate. The company also raised full-year revenue guidance to $1.463-$1.467 billion above the $1.44 billion Street estimate. However, the stock plunged over 17% post-earnings as investors focused on expanding GAAP operating losses of $117 million and free cash flow margin compression from 24% to 14%, both driven by aggressive AI investment. CEO Dylan Field voluntarily forfeited approximately $46 million in stock awards to restore investor confidence. Morgan Stanley subsequently cut its price target from $38 to $33.

The stock briefly rebounded over 5% on August 10 amid a sector-wide rally, but has now fully retraced those gains, suggesting insufficient buying conviction and persistent overhead supply from the earnings selloff.

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