Figma Stock Plummets 13% Despite Robust Q2 Growth Amid Lock-Up Expiry Concerns
Figma Inc. shares tumbled 13.77% in after-hours trading to $58.75, a stark contrast to its 41% year-over-year revenue growth in Q2 2025. The design platform reported record quarterly revenue of $249.6 million, fueled by product launches and AI initiatives, yet investor sentiment soured as 25% of employee-held shares became eligible for sale.
The company's financial health appears strong with $28.2 million net income and $62.5 million operating cash flow. However, the market reacted swiftly to potential dilution risks, overshadowing Figma's GAAP operating margin of 1% and non-GAAP margin of 5%. This disconnect between fundamentals and stock performance highlights how lock-up expirations can trigger volatility even in growth-stage companies.