Slide 1: Financial Results Q4 2025
yw A> an Financial Results ~~ se Q4 2025
Slide 2: Safe Harbor Disclaimer
33) Safe Harbor Disclaimer Q4 2025 This presentation contains “forward-looking statements” within the meaning of applicable securities laws. All statements other than statements of historical fact could be deemed to be forward-looking, including, but not limited to, statements regarding our guidance
Slide 3: Dylan Field, CEO + Co-Founder
Dylan Field CEO + Co-Founder
Slide 4: Q4 Highlights
ss) Q4 Highlights Q4 2025 Revenue YoY Revenue Growth Net Dollar Retention Rate Non-GAAP Operating Margin Adjusted Free Cash Flow Margin 4% 3% Non-GAAP Operating Margin and Adjusted Free Cash Flow Margin are non-GAAP financial measures. Please see the reconciliation from GAAP to non-GAAP measures con
Slide 5: Figma Make interactive dashboard demo
32 681 43 Organizer & urrent Projects Total Submissions Collaborators EARNED 09/22/28 Make an interactive dashboard ur Submissions ‘Categories v @ Months v \ AmMaorvican i» Make an image of Bartlett pears ‘ona light gray background| Bartlett pear Gemini3 Prov =
Slide 6: Slide 6
Slide 7: Select a Library
+ © cy Select a Library Flights
Slide 8: Q4 Highlights
Q4 Highlights Q4 2025 Weekly Active Users of Figma Make Paid Customers with more than $100,000 in QoQ growth ARR using Figma Make ona weekly basis Refer to the appendix to this presentation for the definitions of Paid Customers with more than $100,000 in ARR and Weekly Active Users.
Slide 9: Q4 Highlights
Q4 Highlights Nearly O% Figma Make files created in 2025 by non-designers Q4 2025
Slide 10: Make a node-based flow designer
Make a node-based flow designer for new Contacts|
Slide 11: Flexport customer quote
Suetainatty © Welcome, Sara! "We are working hard to get away from a document culture to one of rapid prototyping. The teams that do that with me are the teams that are doing really well.” | Ryan Petersen Founder & CEO, Flexport
Slide 12: Figma Make Weekly Active Users on Full seats
O%t+ of Figma Make's Weekly Active Users on Full seats also used Figma Design Refer to the appendix to this presentation for the definition of Weekly Active Users. Q4 Highlights & Recipe suggestions v2 World Peas Ge Oo Butternut squash $3.99/ea : Recipe suggestions You could use the items in your ca
Slide 13: MCP server tool calls
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Slide 14: GitHub customer quote
@ github.com €) GitHub “Tasks that previously had a really high technical barrier are now incredibly easy—that gives us more time to focus on what we love: experimenting with new ideas and honing our craft." Mos \ "value": "#e4ccc6" ye il nen: { "value": "#d3ded6" OK ~ 8 : "#a5ada7" *) Reza Rahman +
Slide 15: Travel planning app demo
AUGUST 01-12 12 DAYS, 1 NIGHTS 1810p > 21:40p JFK O8hr 30m, non-stop FCO UNITED AIRLINES ANnANnN THUG] Tiestevere ng ‘or000 Paczaci, SBM Visit Piazza San x © #8 2 walking tour _ Bali oni@itsuda@till One oat Where to next? ‘Somewhere very sunny, with breathtaking architecture and non-sto} flights fro
Slide 16: Shikun Aloeswand product demo
Wr Shikun Aloeswand Incense Expand image Shikun is an intricate Yamadamatsu comy blending sharp aloeswood clarity with a sweet-and-sour fruit profile. _Nilo Gefamics *, Incense Candles _ Stationery ‘mi f® Isolate Selectarea > Erase H-~ O- ® Cancel TOS
Slide 17: Vectorize
Slide 18: Image and video models
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Slide 19: NVIDIA customer quote
NVIDIA. "[Weave] allowed us to maintain full control over the composition, look, and detail of every individual component, and bring the scene to life just as we had envisioned.”
Slide 20: Closing remarks
Closing remarks
Slide 21: Praveer Melwani, CFO
Praveer Melwani CFO
Slide 22: Financial Results: Revenue
8 Financial Results Q4 2025 Revenue Year-over-year Growth Q124 Q2 24 Q3 24 Q424 Q125 Q2 25 Q3 25 $156.2M $177.2M $198.6M $216.9M $228.2M $249.6M $274.2M
Slide 23: Net and Gross Retention Rate
ss) Financial Results Q4 2025 Net Dollar Retention Rate Gross Retention Rate (For our Paid Customers with more than $10,000 in ARR) (For our Paid Customers with more than $10,000 in ARR) 136% C% Qi24 Q224 Q3 24 Q424 Q125 Q225 Q325 125% 130% 131% 134% 132% 129% 131% Reter to the appendix to this pres
Slide 24: Paid Customers by ARR
ss) Financial Results Q4.2025 Paid Customers with more than $10,000 in ARR Paid Customers with more than $100,000 in ARR 13,861 1,405 Reter to the appendix to this presentation for definitions of Paid Customers with more than $10,000 in ARR and Paid Customers with more than $100,000 in ARR.
Slide 25: Platform expansion
Platform expansion si8 Enterprise scaling 3 International growth 33:
Slide 26: Non-GAAP Gross Margin
ss) Financial Results Non-GAAP Gross Margin 6% Q4 2025 Qi24 Q2 24 Q3 24 Q424 Q125 Q2 25 92% 92% 92% 92% 92% 90% Non-GAAP Gross Margin is a non-GAAP financial measure. Please see the reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation Q3 25 86%
Slide 27: Non-GAAP Operating Margin
ss) Financial Results Q4.2025 Non-GAAP Operating Margin as % of Revenue 4% Non-GAAP Operating Margin is a non-GAAP financial measure, Please see the reconciliation trom GAAP to non-GAAP measures contained in the appendix to this presentation
Slide 28: Cash and Adjusted Free Cash Flow Margin
ss) Financial Results Q4 2025 Cash, cash equivalents, and marketable securities as of December 31, 2025 Adjusted Free Cash Flow Margin Qi24 Q224 Q3 24 Q424 Q125 Q2 25 Q3 25 31% 4% 31% 30% 41% 24% 18% Adjusted Free Cash Flow Margin is a non-GAAP financial measure. Please see the reconciliation from G
Slide 29: Guidance
ss) Guidance Q4 2025 — $315-317M — $1,366-1,374M sc mn S100-110M Non-GAAP Operating Income is a non-GAAP financial measure. We have not reconciled our outlook as to Non-GAAP Operating Income to its most directly comparable GAAP measure because certain items that impact Non-GAAP Operating Income are
Slide 30: Q&A
Slide 31: Appendix
Appendix
Slide 32: Definitions
ss) Definitions Annual Recurring Revenue (“ARR"): We calculate ARR as the annualized value of our active customer agreements as of the measurement date, assuming any agreement that expires during the next twelve months following the measurement date is renewed on existing terms. A customer agreement
Slide 33: Reconciliation of Non-GAAP Gross Profit and Gross Margin
ss) Reconciliation of Non-GAAP Gross Profit and Gross Margin Q4 2025 (In thousands) Qi24 Q2 24 Q3 24 Q424 Q125 Q225 Q325 425 GAAP gross profit $143,439 «$137,640 $179,936 $200,482 $208,747 $221,751 $190,289 $249,474 Plus: Stock-based compensation expense 1 24,858 3,034 - - 218 42,987 774 Plus: Amort
Slide 34: Reconciliation of Non-GAAP Operating Income and Margin
ss) tion of Non-GAAP Operating Income and Margin Q4 2025 {In thousands) Qi2a Q22a Q324 Q424 Qt25 Q225 Q325 9425 GAAP operating income (loss) $12,521 $(894,287) $(47,336) $51,669 $39,749 $2,076 ——_$(1,136,780) $(195,502) Plus: Stock-based compensation expense 607 858,390 88,403, 153 197 7,310 4,138,3
Slide 35: Reconciliation of Adjusted Free Cash Flow
ss) Reconciliation of Adjusted Free Cash Flow Q4 2025 {In thousands) Qi24 Q224 Q324 Q424 Qi25 Q225 Q325 425 Net cash provided by (used in) operating activities $(18,139) $(178,243) $61,574 $73,091 $97,177 $62,455 $51,163 $39,886 Less: Capital expenditures (503) (399) (413) (662) (874) (1,134) (1,702