Shares of Figma, the software design company, experienced a dramatic decline of nearly 20% on Thursday, closing at $54.56. This sharp drop comes after the company reached a peak share price of $122 just weeks prior, shortly after its public debut on the New York Stock Exchange in early August.
The downturn was triggered by the release of its first quarterly report since going public, revealing a year-over-year revenue increase of 41%, totaling $249.6 million. This figure slightly surpassed analysts’ expectations, but it did not prevent the sell-off. Figma also forecasted an adjusted operating income of $88 million to $98 million for 2025, aligning closely with market predictions.
In a noteworthy aspect of its financial disclosure, Figma revealed its Bitcoin holdings, valued at approximately $91 million. However, CEO Dylan Field emphasized that the company does not intend to position itself as a Bitcoin investment firm, contrasting it with Strategy, formerly known as MicroStrategy, which is recognized as a major corporate holder of Bitcoin. Field clarified, “This is not a Bitcoin holding company. It’s a design company.”
Figma’s approach to Bitcoin has primarily been for diversification purposes, rather than to emulate other firms that accumulate cryptocurrency as a way to enhance their stock value. In July, Figma announced plans to increase its Bitcoin investments, and a recent filing with the Securities and Exchange Commission confirmed the firm’s Bitcoin assets.
Established in 2012, Figma has evolved from a browser-based interface design tool to a leading platform utilized by product teams across various industries, supporting collaboration and design innovation. Following this recent report, investors will be closely monitoring the company’s future performance and its strategic direction in the competitive software landscape.
