Figma reveals revenue, profit growth in US IPO filing

July 1 (Reuters) - Figma disclosed higher revenue and profit for the first three months of 2025, as the cloud-based designer platform prepares to list on the NYSE more than a year after its $20 billion planned sale to Adobe ADBE.O was scrapped.

The company's IPO is poised to be one of the most high-profile listings this year, signaling that concerns stirred by U.S. tariffs are quickly fading in the wake of a scorching equities rally.

Last year, Figma was valued at $12.5 billion in a tender offer that allowed its employees and early investors to cash out some of their stake.

Figma's IPO was widely expected after antitrust regulators in Europe and the UK blocked Adobe's acquisition. In December 2023, the companies mutually shelved the deal, which would have been one of the biggest acquisitions of a software startup.

Figma, meanwhile, has been working to strengthen its financial footing. It reported $228.2 million in revenue for the three months ended March 31, compared with $156.2 million a year earlier, and its net income jumped three-fold to $44.9 million.

The company is also sharpening its focus on AI. While spending on the technology could weigh on Figma's "efficiency" for several years, the company will keep doubling down on the technology, co-founder and CEO Dylan Field wrote in a letter attached to the filing.

"Expect us to take big swings when we see a chance to invest in our platform or pursue M&A at scale. That means at times we will make decisions that may not seem immediately rational," he added.

The company plans to use part of the proceeds to repay borrowings under its revolving credit facility, which it expects to draw to cover upcoming tax payments.

Morgan Stanley, Goldman Sachs, Allen & Co and J.P. Morgan are the lead underwriters for the IPO. Figma expects to trade under the symbol "FIG".