Tongue communal Its finances on Tuesday, reinforcing the design software company closer to an iPo. And while this original S-1 is missing details, such as the number of shares to be offered and what price, regulatory deposit gives the clearer view of its financial health-and its potential.
IPO Experts Renaissance Capital Assessment that Figma could raise up to $ 1.5 billion in this offer. If it meets or exceeds this, Figma’s IPO will fit or beat Coreweave’s, which raised $ 1.5 billion and was the largest IPO technique of 2025 so far.
There are some reasons to believe that Figma could pull it out. His finances are impressive, according to the S-1 deposit.
The company revenue of $ 749 million in 2024, a 48% jump from 2023. Figma’s revenue continued to rise in the first quarter of 2025 to 46% on a yearly basis. The company reported 12 -month revenue to $ 821 million, with a gross margin of 91%.
Figma’s profit is interesting. The company was profitable in 2023 and then turned into a giant loss of $ 732 million in 2023, but this is largely due to one -off costs related to a significant compensation for workers’ shares. (Figma issued 10.5 million savings markets, with a strike price of $ 8.50 per share to eligible employees, he said.)
By the fourth quarter of 2024, Figma again reported profits, as in the first quarter of 2025.
Figma has also calculated its total debt to be so negligible that it says it has no one. But again, this is a line element that needs to be completed. The company, of course, has a rotating debt line and leaves room to inform its total debt in cooperation with it.
We also do not yet know if any of the executives or VCs will sell shares. The main supporters include an index, Greylock, Kleiner Perkins and Sequoia.
We know that in 2024, executives participated in a large bid that allowed employees to redeem shares. For example, Figma’s CEO and President Dylan Field have redeemed the $ 20 million shares as part of this sale.
The S-1 document made another interesting revelation for co-founder Evan Wallace, who left Figma in 2021, According to his website. Wallace is named in the documents as a co -founder. However, Figma says Wallace has given full voting rights and control of its shares. Wallace’s Family Trust holds about one-third of Class B shares for super-voting rights (15 votes per share, says Figma). Overall, the S-1 reveals this field, pre -po, controls about 75% of voting rights.
Finance certainly resembles the type of company that Wall Street usually wants and retail investors. One black cloud, if you can name it, is the rise in AI applications coding/design. Upstarts like Lovable is targeting the Figma market and increases quickly. Figma, however, also has its own set of AI products.
Figma recognizes the S-1 the dangers not to stand out in a competitive AI industry.
“While we have done and expect to continue to make, significant investments for the integration of AI, including
Genetics AI, on our platform, AI technologies are evolving quickly and there can be no guarantee that
Our products will remain competitive as new AI technologies are growing, adopted and integrated
Software solutions, “the company says in the regulatory document.
