Figma Inc. saw its shares climb 10.6% in premarket trading on Friday, reaching $22.39, after the design software company raised its full-year revenue outlook, citing strong adoption of artificial intelligence features and new fees for AI credits. The move signals that AI is boosting rather than undermining the company's business, offering relief to a software sector rattled by fears of AI-driven disruption.
The San Francisco-based firm reported first-quarter revenue of $333.4 million, a 46% year-over-year surge that beat its own guidance and analyst expectations, according to Reuters. The strong performance prompted Figma to lift its 2026 revenue forecast to a range of $1.422 billion to $1.428 billion, an increase of $55 million from its prior target. For the second quarter, the company projects revenue between $348 million and $350 million.
Figma's non-GAAP operating income for the full year is now expected to land between $125 million and $135 million, excluding items like stock-based compensation. In the first quarter, non-GAAP operating income came in at $52.1 million, contrasting with a GAAP operating loss of $137.4 million and a net loss of $142.4 million, highlighting the heavy costs the company is shouldering as it invests in AI infrastructure and talent.
CEO Dylan Field called the first quarter "incredible" in the earnings release, while CFO Praveer Melwani pointed to growth in paid seats and traction from newer AI-powered offerings such as Figma Make, MCP, and Figma Weave as key drivers. The company's paid customer base expanded 54% year over year to approximately 690,000, and the number of clients spending more than $100,000 in annual recurring revenue rose 48% to 1,525.
A significant factor behind the improved outlook is Figma's strategy of monetizing AI usage through credit limits. On March 18, the company began capping AI credits for Organization and Enterprise customers. By April, over 75% of those who had exceeded their limits purchased additional credits, and more than 95% remained active on the platform as of April 30. This suggests that customers are willing to pay for advanced AI features, easing concerns that Figma would bear the full cost of AI deployment.
The broader competitive landscape is evolving rapidly. Last month, Reuters reported that Anthropic launched Claude Design, a tool for creating interactive prototypes and pitch decks. Melwani acknowledged the threat, telling Reuters, "You can't dismiss them," noting Anthropic's ability to integrate AI models directly into its products. Meanwhile, Figma is expanding beyond traditional design tools with its Code to Canvas feature, which now integrates with Claude Code, Codex, Cursor, VS Code, and Warp, allowing users to bring AI-generated interfaces into Figma as editable layers. This positions Figma as a hub for reviewing and shipping AI-generated projects rather than just a design application.
The stock's premarket jump builds on Thursday's post-earnings rally, offering a reprieve for software stocks that have been under pressure from concerns about AI-driven upheaval. Investors are taking Figma's results as evidence that AI is not displacing its business but rather creating new revenue streams. However, the risk remains that rival AI design tools could lower prices, improve capabilities, and deepen integration with code-generation platforms, potentially eroding Figma's competitive edge.