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Figma shares slide after Cramer questions the post-earnings drop
Figma reported $370 million in second-quarter revenue, up 48% year over year, but its operating margin fell to 10% from 16% as costs rose for an AI agent.
Figma, Inc. shares fell sharply after the company reported second-quarter results, and CNBC host Jim Cramer said the market reaction may have gone too far. According to Yahoo Finance, Figma closed 14.9% lower on the day Cramer discussed the stock, following its earnings release after the market close the prior day.
Yahoo Finance reports that Figma posted $370 million in revenue for the quarter, a 48% increase, topping analyst expectations of $351 million. The company also raised its full-year revenue guidance to a range of $1.463 billion to $1.467 billion, up from prior guidance of $1.422 billion to $1.428 billion.
At the same time, Figma’s cost and profitability profile worsened, with research and development expense rising to $167 million, an annual jump of 101%, alongside a new artificial intelligence agent intended to support revenue growth. Yahoo Finance also said Figma’s operating margin dropped to 10% from 16%, and that its third-quarter revenue guide was $373 million to $375 million, implying about 1% sequential growth at the midpoint.
The piece also notes valuation and sentiment factors, including a forward price-to-earnings ratio of 87.72 compared with Adobe’s 9.95, and short interest of 30.0% of float versus Adobe’s 5.45%. Yahoo Finance further said hedge fund holdings were relatively steady, with 51 hedge funds holding stakes during Q4 2025 and Q1 2026 in Insider Monkey’s database.