Figma (FIG) Nosedives 19.9% After Earnings Results

We recently published 10 Major Stocks Collapse. Figma, Inc. (NYSE:FIG) is one of the worst performers on Thursday.

Figma fell by 19.92 percent on Thursday to end at $54.56 apiece as investors disposed of shares following its earnings performance in the second quarter of the year.

In its updated report, Figma, Inc. (NYSE:FIG) said it swung to an attributable net income to shareholders of $846,000 from an $828 million net loss in the same period last year.

Revenues grew by 40.8 percent to $249.6 million from $177.2 million year-on-year.

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In the first half of the year, attributable net income ended at $21.8 million, reversing a net loss of $814 million year-on-year. Revenues grew by 43 percent to $477 million from $333 million in the same comparable period.

Looking ahead, Figma, Inc. (NYSE:FIG) is targeting revenues of $1.021 billion to $1.025 billion for full year 2025, implying a 37-percent growth at the midpoint range year-on-year.

For the third quarter alone, revenues are expected to hit $263 million to $265 million, or a 33-percent growth year-on-year.

Following the results, Figma, Inc. (NYSE:FIG) reaffirmed its “neutral” rating and $49 price target from Goldman Sachs, saying that while the company is off to a good start, a significant revenue contribution will take time to realize.

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Disclosure: None. This article is originally published at Insider Monkey.