Business Description

Overview Figma is where teams come together to turn ideas into the world’s best digital products and experiences. Every day, billions of people around the world use apps, websites, and other digital experiences that are made in Figma. Behind each of these products is a team responsible for bringing them to life. In Figma, designers work alongside developers, product managers (“PMs”), researchers, marketers, writers, and other non-designers who, in the three months ended December 31, 2025, made up approximately two-thirds of our monthly active users. 1 Together, they share and explore ideas, align on a vision, visualize concepts, and translate them into coded products — all on a single, connected, AI-powered platform that collaborators around the world can access with a URL. Our focus on the entire lifecycle of software creation reflects our ability to rapidly bring new products onto Figma’s platform and our belief that design spans beyond a single step or role. We take this expansive view because design is more than how something looks, or even feels; design is also how something works — and in today’s increasingly digital-first world, how brands and companies win. As AI makes software much easier to create, and as organizations across industries and geographies continue to invest heavily in digital transformation, better-designed digital products and experiences have become even more critical to a company’s success. Design is what attracts and wins user loyalty, especially as digital interfaces become the primary way businesses engage with their customers. Millions of people use Figma every week, often for hours a day. And as more users have come to our platform, we have expanded to serve the many roles and steps involved in going from an idea to a product in a user’s hands. We are quickly becoming a system of record for design and product development at a time when software is growing exponentially. The product development process in Figma Our focus is on helping teams turn ideas into digital products. We started out as a relatively small part of this process, but over time we have launched and monetized new products that help teams go from idea to product, all in one place. While Figma’s more open and collaborative way of working transformed how products get built, AI has accelerated the process of going from idea to product even further by helping users of all skill levels explore and iterate on ideas more quickly and automate rote, repetitive tasks. We have embedded AI deeply across the Figma platform through products like Figma Make, which lets anyone turn simple text prompts or existing Figma designs into workable prototypes or even full web apps, and features that bring the power of prompting and editing with AI directly to the Figma canvas. 1 We define monthly active users as the number of unique users that access at least one of our products during a given month. A Paid Customer (as defined in the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Key Business Metrics” contained within this Annual Report on Form 10-K) typically includes multiple unique users. When reporting monthly active users during a quarter or other period of time, we report the number of monthly active users during the month with the highest number of active users during such period. 5 Table of Contents FigJam and Figma Slides Figma is a connected platform where teams can ideate, explore, and align on decisions together. FigJam and Figma Slides are products we have built to facilitate these activities. FigJam is our product tailored for ideation, brainstorming, and rapid communication of ideas. Designed for users of all skill levels, FigJam makes everything from personal projects to solo ideation to team meetings more engaging and fun. This is made possible by facilitation features like timers and voting, but also fun features that give participants more ways to express themselves, like ephemeral emoji reactions, a photo booth that lets you take a quick selfie, or the ability to give high-fives. We also offer rich diagramming capabilities to make it easy to convey more abstract ideas through user journeys or technical diagrams for engineering. In FigJam, users can also use AI to generate templates for group brainstorms and summarize meeting notes in seconds. Figma Slides helps teams collaboratively make compelling, engaging presentations that drive and maintain alignment.…