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Figma cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$41.5M in Q3 2026 · $224M over twelve months

Operating cash flow$48.4M
Capital spending−$6.9M
Free cash flow+$41.5M
Cash conversion cycle20 days

Analysis

In Q3 2026, Figma generated $48.4M of operating cash flow and spent $6.9M on capital projects, leaving free cash flow of $41.5M. That is $8.0M less than in Q3 2025 ($49.5M).

Over the twelve months to Sep 30, 2026, operating cash flow was $246M; the largest uses were taxes on employees’ shares ($216M), acquisitions ($37.3M), capital spending ($22.1M); besides operations, cash came from shares issued ($173M), other financing ($34.2M); the cash balance rose by $167M.

Operating cash flow was $48.4M against net income of −$81.3M. The largest differences: stock-based pay +$159M, employee-related liabilities +$30.7M, receivables −$22.8M.

Its cash conversion cycle was 20 days (receivables 47 + inventory 0 − payables 28).

Free cash flow

Figma: free cash flow by quarterFigma: free cash flow by quarter$72.4MQ4 2024$96.3MQ1 2025$61.3MQ2 2025$49.5MQ3 2025$39.2MQ4 2025$89.5MQ1 2026$54.2MQ2 2026$41.5MQ3 2026
Operating cash flow less capital spending.
Figma: operating cash flow against capital spendingFigma: operating cash flow against capital spendingOperating cash flowCapital spending$73.1M$662KQ4 2024$97.2M$874KQ1 2025$62.5M$1.1MQ2 2025$51.2M$1.7MQ3 2025$39.9M$734KQ4 2025$97.3M$7.8MQ1 2026$60.9M$6.7MQ2 2026$48.4M$6.9MQ3 2026
Latest (Q3 2026): Operating cash flow $48.4M, Capital spending $6.9M.

Capital allocation, year by year

Figma: where the cash came from (up) and went (down), by fiscal yearFigma: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingAcquisitionsBuybacksFY2023: Operating cash flow $1.0BFY2023: Shares issued $2KFY2023: Capital spending −$3.7MFY2023: Buybacks −$2K$1.0BFY2023FY2024: Operating cash flow −$61.7MFY2024: Shares issued $62.4MFY2024: Capital spending −$2.0MFY2024: Buybacks −$861K$62.4MFY2024FY2025: Operating cash flow $251MFY2025: Shares issued $132MFY2025: Capital spending −$4.4MFY2025: Acquisitions −$58.3M$382MFY2025
Over these 3 years operating cash flow totalled $1.2B; the largest uses were operating cash flow ($61.7M) and acquisitions ($58.3M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.7B
Debtnone
Net cash$1.7B

Figma funds itself: free cash flow was $224M over the last twelve months, with $1.7B of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Figma: sources (+) and uses (−) of cash, Q3 2026Figma: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)−$61.9MTaxes on employees’ shares−$49.0MOperating cash flow$48.4MShares issued$42.1MOther investing$27.0MCapital spending−$6.9MOther financing$279K
Figma: sources (+) and uses (−) of cash, TTM to Q3 2026Figma: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$246MTaxes on employees’ shares−$216MShares issued$173MCash drawn (+) / kept (−)−$167MAcquisitions−$37.3MOther financing$34.2MCapital spending−$22.1MOther investing−$11.1M

From profit to cash

Figma: net income to operating cash flow, Q3 2026Figma: net income to operating cash flow, Q3 2026Net income−$81.3MDepreciation & amortization$5.5MStock-based pay$159MOther non-cash$1.4MReceivables−$22.8MPayables−$8.4MAccrued liabilities$3.5MEmployee-related liabilities$30.7MDeferred revenue−$209KPrepaid and other assets−$15.3MOperating cash flow$48.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202647—2820
Q2 202647—2620
Q1 202659—950
Q4 202561—1546
Q3 202547—1433

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$48.4M−$6.9M—$42.1M−$61.9M$41.5M
Q2 2026$60.9M−$6.7M—$18.5M−$40.9M$54.2M
Q1 2026$97.3M−$7.8M—$28.9M−$2.3M$89.5M
Q4 2025$39.9M−$734K−$37.3M$83.4M−$61.9M$39.2M
Q3 2025$51.2M−$1.7M—$27.6M$281M$49.5M
Q2 2025$62.5M−$1.1M—$20.3M−$3.1M$61.3M
Q1 2025$97.2M−$874K—$339K−$139M$96.3M
Q4 2024$73.1M−$662K—−$358M−$70.8M$72.4M

Figma: income statement and cash flow

Figma, Q3 2026: revenue $391M (+43% year over year), operating margin -30.4%. The chart follows the revenue to costs, profit and cash.

Figma: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.