Figma just proved that AI isn't just hype - it's driving real business results. The design software company smashed Q3 revenue expectations with $274.2 million (vs. $265.2 million expected), powered by its AI-driven Figma Make tool that's pulling in new customers and expanding existing accounts. CEO Dylan Field says 30% of their biggest enterprise clients are now using the AI design generator weekly.
Figma just delivered the kind of earnings beat that makes investors believers in the AI story. The design platform reported Q3 revenue of $274.2 million, crushing analyst expectations of $265.2 million and marking a robust 38% year-over-year growth that sent shares up 3% in after-hours trading.
But here's what's really driving the numbers - Figma Make, the company's AI-powered design tool that generates app interfaces automatically. CEO Dylan Field told CNBC that about 30% of customers spending over $100,000 annually are now using Figma Make weekly. "That continues to grow, and overall sort of across the business, Figma Make was a big driver of new customers in Q3," Field explained.
The AI momentum is showing up across Figma's customer metrics. The company's net dollar retention rate for clients spending at least $10,000 annually hit 131%, up from 129% in Q2. More telling, Figma now counts 1,262 organizations spending over $100,000 per year - a 13% jump from just three months ago. That's the kind of enterprise expansion that validates AI as more than just a buzzword.
Figma's adjusted operating margin of 12% also crushed StreetAccount's consensus of 6.5%, though the company did report a massive $1.10 billion net loss due to stock-based compensation expenses from its July IPO. The design software maker went public at $33 per share and closed Wednesday at $44.01, representing a 33% gain since trading began.
The timing couldn't be better for Figma's AI push. Just last week, the company acquired Weavy, a startup that lets users create images, videos and other creative assets using generative AI models. Field told CNBC he doesn't have pricing details yet for the resulting "Figma Weave" capabilities, but the deal signals the company's commitment to AI-powered creative tools.
