Binance Pulse | BNB Price Trends
Binance Pulse | BNB Price Trends
Alright, let's get this straight. Figma, fresh off its IPO high and the Adobe breakup drama, is flexing some decent Q3 numbers. Revenue's up, earnings beat expectations, stock price jumped... yawn. Is anyone really surprised? It's the classic "new shiny object" effect.
Okay, fine, the numbers are good. $274.2 million in revenue, a 38% year-over-year jump – not bad. And that adjusted operating margin of 12%? Better than expected, sure. But let's not forget that net loss ballooned to over a billion dollars. A BILLION. They're blaming stock-based compensation, which, yeah, okay, that's a thing. But still. A billion dollars. Is that sustainable? Are they seriously thinking we're going to ignore that little detail?
And while they're patting themselves on the back about landing more big clients (1,262 organizations spending over $100k annually, up 13%), what about the rest of us? The freelancers, the small teams, the people who actually use the damn product day in and day out? Are we seeing any benefit here, or are we just paying for those enterprise-level features we'll never touch?
Speaking of features, Figma Make is apparently driving new customer acquisition. Generative AI app design, blah, blah, blah. Give me a break. It's just another buzzword bingo play. How long before that "generative AI" turns into another bloated, overpriced add-on that slows everything down?
And what's with this "not enforcing AI credit limits" thing? Consumption revenue "not expected to be material in 2025?" So, they're just giving it away now to hook people, and then BAM! Surprise fees later? I've seen this movie before.
Even Steve Grasso, bless his skeptical heart, is waiting for the market to chill out before jumping in. He's right, ofcourse. This post-IPO euphoria is always temporary. The real test comes when the hype dies down and Figma has to prove it can actually deliver consistent, long-term value. And speaking of value, remember that scrapped Adobe merger that would have valued Figma at over $20 billion? Now that's a number that makes you think. Did they peak too soon? Are they just riding the wave of that near-miss buyout?
I'm reminded of that time I tried to build a deck...started out all gung-ho, bought the best lumber, had all the plans...and then realized I had no idea what I was doing. Ended up with a half-finished eyesore and a mountain of debt. Is Figma heading down a similar path?
And let's be real: the net dollar retention rate being up is nice, but it's all relative, isn't it? Are people sticking around because they love Figma, or because they're locked into the ecosystem and it's too much of a pain in the ass to switch?
Okay, the acquisition of Weavy might be interesting. Generative AI models for creative assets? Could be cool. Could also be another overhyped feature that nobody uses. I guess we'll see. But honestly, at this point, I'm just waiting for the other shoe to drop. According to Figma delivers strong forecast as AI draws in more customers - CNBC, Figma's AI initiatives are a key factor in attracting new customers.
Figma's numbers are good. For now. But let's not pretend this is some Cinderella story. This is a company riding a wave of hype, and it's going to take a lot more than a few good quarters to prove it's the real deal. I'll believe it when I see it.
