Figma (FIG) demonstrates exceptional fundamentals, reporting 48% revenue growth to $749 million and a 132% net dollar retention rate, though the stock trades at a premium valuation that requires years of flawless execution.
- The critical near-term event is the 180-day IPO lock-up expiration in late January 2026, which is expected to allow insiders to sell shares and potentially create downward price pressure.
- The company's heavy investments in AI are projected to pressure profit margins in the short term, despite management's focus on scaling and growth.
- The stock initially opened on the NYSE at $85/share on July 31, 2025, and quickly surged to $143 within two days of trading.