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Figma files for proposed IPO

figma.com

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Re: Figma files for proposed IPO

#21

Post by snickerdoodle12 »

btown wrote: post #10

They don't link to the Form S-1 prospectus from their announcement, but it's publicly available at https://www.sec.gov/Archives/edgar/data/1579878/000162828025... Their highlighted metrics page: $821M LTM revenue, 46% YoY revenue growth, 18% non-GAAP operating margin, 91% gross margin. It's an incredible success story, and the engineering they did upfront (primarily led by co-founder Evan Wallace) that set the stage…

> The rendering engine handles curve rendering, images, blurs, masking, blending, and opacity groups, and optimizes for high visual fidelity.

And thats how you get designers whining that their design looks great in figma but not in a real webpage

Re: Figma files for proposed IPO

#23

Post by StableAlkyne »

Going public is usually terrible news for users.

That said, today it's an incredibly good design tool - worth checking out before shareholders start the enshittification process. Congrats to the devs / founders for making it all the way to an IPO!

Re: Figma files for proposed IPO

#25

Post by bdangubic »

cluckindan wrote: post #17
colesantiago wrote: post #13

So now that Figma will be owned by Wall Street, it will only get considerably worse from here. It is now time consider and find and fund open source alternatives. I know of excalidraw and perhaps penpot are there anymore?

I agree. If they’re so profitable already, why take the company public at all?

to be a lot more profitable

Re: Figma files for proposed IPO

#26

Post by darth_avocado »

btown wrote: post #10

They don't link to the Form S-1 prospectus from their announcement, but it's publicly available at https://www.sec.gov/Archives/edgar/data/1579878/000162828025... Their highlighted metrics page: $821M LTM revenue, 46% YoY revenue growth, 18% non-GAAP operating margin, 91% gross margin. It's an incredible success story, and the engineering they did upfront (primarily led by co-founder Evan Wallace) that set the stage…

While I like the product, the net income would worry me if I were to participate in the IPO. $280M net income in 2023 after they received $1B for the failed merger and $730M net loss because of RSU/Stock Awards in 2024 is not great when the total revenue for the company was $500M in 2023 and $750M in 2024.

Re: Figma files for proposed IPO

#27

Post by granzymes »

Headline financials:

  FY Ended December 31, in millions except percentage

                 |  2023  |  2024  |  YoY  
  ---------------|--------|--------|-------
  revenue        | $505   | $749   | 48%   
  gross profit   | $460   | $661   | 44%   
  op ex          | $534   | $1,539 | 118%
  net income     | $738   | $(732) | (199)%
  free cash flow | $1,041 | $68    | (93)%

Re: Figma files for proposed IPO

#28

Post by cluckindan »

snickerdoodle12 wrote: post #21
btown wrote: post #10

They don't link to the Form S-1 prospectus from their announcement, but it's publicly available at https://www.sec.gov/Archives/edgar/data/1579878/000162828025... Their highlighted metrics page: $821M LTM revenue, 46% YoY revenue growth, 18% non-GAAP operating margin, 91% gross margin. It's an incredible success story, and the engineering they did upfront (primarily led by co-founder Evan Wallace) that set the stage…

> The rendering engine handles curve rendering, images, blurs, masking, blending, and opacity groups, and optimizes for high visual fidelity. And thats how you get designers whining that their design looks great in figma but not in a real webpage

This, so much this.

I’ve been thinking about a box-first approach to design tooling. The overall layout workflow would consist only of adding boxes (block-level elements) to a blank web page, or inside other boxes. Boxes could also contain other elements like inputs, buttons, images, etc.

Re: Figma files for proposed IPO

#29

Post by cluckindan »

bdangubic wrote: post #25
cluckindan wrote: post #17

Earlier quoted context omitted.

I agree. If they’re so profitable already, why take the company public at all?

to be a lot more profitable

And how would that happen? They already have the product, which can be sold in huge numbers without really needing to scale operations. Are you suggesting they need cash to rewrite or improve the product?

Re: Figma files for proposed IPO

#30

Post by VoidWhisperer »

granzymes wrote: post #27

Headline financials: FY Ended December 31, in millions except percentage | 2023 | 2024 | YoY ---------------|--------|--------|------- revenue | $505 | $749 | 48% gross profit | $460 | $661 | 44% op ex | $534 | $1,539 | 118% net income | $738 | $(732) | (199)% free cash flow | $1,041 | $68 | (93)%

What happened in 2024 that caused their operating expenses to increase so much?
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