We recently published 10 Major Stocks Collapse. Figma, Inc. 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. 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. 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. 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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This article is originally published at Insider Monkey.
