Figma has raised the price range for its upcoming U.S. initial public offering (IPO), now targeting a valuation of $18.8 billion.
This follows last year’s failed $20 billion acquisition attempt by Adobe, which was blocked by regulators in Europe and the UK.
The updated price range of $30 to $32 per share, up from the previously proposed $25 to $28, is expected to bring in approximately $1.18 billion. Figma will list on the New York Stock Exchange under the symbol “FIG.” Lead underwriters include Morgan Stanley, Goldman Sachs, Allen & Company, and J.P. Morgan.
The U.S. IPO market, which paused briefly in April due to tariff jitters, is starting up again. Market watchers see Figma’s listing as a key test for investor appetite in the second half of 2025, especially in high-growth tech.
In Q1 2025, the company reported $228.2 million in revenue, a 46% year-on-year increase. Net income stood at $44.9 million. With a gross margin of 91% and free cash flow margin at 28%, Figma ranks among the most efficient SaaS firms in the industry.
Its net revenue retention rate of 132% shows deeper client integration and adoption across its expanding suite of tools. In just one year, Figma launched four new products, Figma Sites, Figma Buzz, Figma Make, and Figma Draw.
These tools move the company further into areas like marketing and manufacturing workflows, broadening its scope from pure design to full product development.
And it’s not stopping there because Figma is betting big on advanced design tools powered by automation and intelligent systems. Projections show this segment alone could add $100 million in revenue by 2027.
There’s also been a wave of online chatter surrounding the company’s financial disclosure that it has invested $70 million in Bitwise’s Bitcoin ETF, with plans to pump in another $30 million. This means Figma is openly embracing crypto, and it’s generating buzz far beyond tech circles.
Meanwhile, co-founder Dylan Field is set to personally benefit from the IPO. He’s selling 2.35 million shares, a sale that could fetch him roughly $65.8 million.
