Figma is close to the public subscription that can raise $ 1.5 billion
Figma In public Its financial data on Tuesday, the design software company is closer to the public subscription. Although this first S-1 lacks details such as the number of shares that will be provided and prices, the organizational deposit provides the clearest vision of its financial health-and its capabilities.
Public subscription experts estimate the Renaissance capital that Figma It can reach $ 1.5 billion In this offer. If it meets or exceeds that, the public subscription will match or overcome, which raised $ 1.5 billion and has a dollar The largest subscription technology was 2025 so far.
There are some reasons for the belief that Figma can withdraw it: it is impressive financial statements, according to the S-1 deposit.
The company achieved revenue of $ 749 million in 2024, 48 % of 2023. Figma’s revenues continued to rise in the first quarter of 2025 with 46 % growth year on an annual basis. The company announced 12 -month revenues of $ 821 million, with a total margin of 91 %.
Figma profit is also interesting. The company was profitable in 2023 and then fluctuated to a giant loss of $ 732 million in 2023. But this is largely due to the expenses for one time related to a major compensation event in employee shares. (Figma has issued 10.5 million stock options, at a price of $ 8.50 per share for eligible employees, he said).
By the fourth quarter of 2024, Figma reported the profits again, as it did in the first quarter of 2025.
Figma also calculated its total debt to be so slim that it reports that it contains something. But again, this is a line that must be filled. The company, of course, has a rotating debt line, and the room left to update its total debt in conjunction with that.
We also don’t know whether any of the executives or VCS will sell shares. The main supporters include the index, Greylock, Kleiner Perkins, and Sequoia.
We know that in 2024, executive officials participated in a large tender that allowed employees to exceed shares. For example, the CEO of the co -founder and the Chairman of the Board of Directors, Dylan Field, has achieved $ 20 million shares as part of this sale.
The S-1 document conducted another interesting disclosure about the co-founder Ivan Wallace, who left Figma in 2021, According to his website on the web. Wallace was named in the documents as a co -founder. However, Figma says that gave full voting rights to the field and control its shares. The Wallace Family Fund has about a third of the superior voting rights category (15 votes per share, says Figma). Finally, the S-1 reveals this field, before viewing the elementary, about 75 % of the voting rights.
Certainly, the financial statements appear to be a type of companies that Wall Street and retailers usually want to buy. One black cloud, if you can call it, is the appearance of AI applications for coding/VIBE design. UPSTARTS like a beloved It targets the Figma market and grows quickly. Figma, though, has a special set of artificial intelligence products as well.
Figma in S-1 acknowledges the risks of failure in the manufacture of competitive artificial intelligence.
“Although we have made, and we expect to continue to make significant investments to integrate artificial intelligence, including
From the intrusive intelligence, on our platform, artificial intelligence techniques develop quickly and there can be no guarantee
Our products will remain competitive, as new artificial intelligence technologies are developed, adopted and integrated
The company says in the organizational document: “software solutions.”
