Figma files for IPO, set to trade under FIG ticker

Design software company Figma filed its intent to go public on Tuesday and will trade on the New York Stock Exchange.

According to the S-1 initial public offering document filed with the Securities and Exchange Commission, Figma will trade under the ticker “FIG.”

Revenue for the company for the year ended Dec. 31, 2024 was $749M, up 48% year-over-year. Revenue grew 46% year-over-year in the first-quarter to $228.2M.

Net income in 2023 and 2024 was $737.8M and a net loss of $732.1M, respectively. In the first-quarters of 2024 and 2025, net income came in at $13.5M and $44.9M, respectively.

The company, led by CEO Dylan Field, had 13M monthly active users, two-thirds of which are non-designers. Additionally, 95% of the Fortune 500 use Figma, while 78% of the Fortune 2000 use the company’s products and services.

“While Figma began as a browser-based tool for designing user interfaces, our platform has expanded to help teams go from idea to product all in one place,” Figma said in the filing. “We are quickly becoming the system of record for design and product development at a time when software is growing exponentially. We believe our pace of innovation, the breadth and flexibility of our platform, the strength of our team, the community relationships we have built, and the enduring power of design position us well for future growth.”

The IPO is being led by several investment banks, including Morgan Stanley (MS), Goldman Sachs (GS), Allen & Co., J.P. Morgan (JPM), BOFA Securities (BAC), Wells Fargo Securities (WFC), RBC Capital Markets, William Blair, and Wolfe/Nomura Alliance.

Adobe (NASDAQ:ADBE) tried to acquire Figma in 2022 for $20B. The deal ran into regulatory scrutiny around the world and the companies ultimately scrapped the merger, which resulted in Adobe paying Figma a $1B breakup fee.