Figma posted 97% gross revenue retention and 136% net dollar retention, sending its stock up 15%. The company is embedding AI across design and code generation to stay ahead of AI-native competitors that could disrupt the design tool space.
Amazing retention of $10,000 plus customers. 97% GRL, 136% NDR. This was great. This was a great quarter for Figma all round. And the stock up 15% after earnings. How did we see these numbers? Talk
to me through this. This is a company whose leader was clearly saying, I know what I got to do. I'm not in any doubt, but I've got to add AI capabilities. I got to go from design all the way to decoding. And I got to add that and make it happen. And they seem to be getting decent adoption of it. This is what winning looks like in SaaS. In a sector where it's very credible, very credible, perhaps more credible than most, that an AI native product could disrupt you. I would argue something like accounting. You're five years away from AI native being disruptive in something like design and Cogen. Creative and Cogen. It's here right now. So this is what fighting back looks like with a generational talent entrepreneur, a company still at its peak that is not stale and clearly trying to punch back. So this is, as it were. If this was a boxing lineup in Vegas, this would be one of the, you know, this would be one of the marquee headline events, Right in the. In the right corner, Dylan Field, heavyweight champion of the world. In the left corner, lovable replet wingman Jason Lemkin. You know. So what do you think, Jason? How's the fight going? Look,
I think it's tough. Ding, ding. It's, it's, it's. It was a great. There's nothing to not love in. The quarter is epic, right? Epic company, epic quarter. We've just given up on the present. We're all panicked about the future. And you get no credit for a great quarter, right? You get no credit.
