Figma stock slumps to lowest since IPO after first earnings report
Figure Stocks fell approximately 20% on Thursday, and after the Company’s first publicly a public company, the design software seller fell at the lowest price since the first public offering of the seller.
For the second quarter, the results were largely compatible with expectations, because the figma had given preliminary results a month ago. According to LSEG, the income increased by 41% to $ 249.6 million compared to the previous year, and analysts a slightly $ 248.8 million predictions.
The Analysts in Piper Sandler described the report as “largely not an event”, but after 250% increases in the trade output, “stocks witnessed hyper-ucism”.
Since its first day of $ 115.50, it has lost more than half of the stock value and has reduced the company’s market value to approximately 27 billion dollars.
For the third quarter, the Figma generated revenue between 263 million and 265 million dollars, which will represent a growth of about 33% in the midst of the range. The LSEG consensus was $ 256.8 million.
Figma’s public offering, the Silicon Valley and the technology sector has represented one of the highest profile offers for years, and the Wall Street’s appetite for growth for growth. The market was a perennial stagnation that began at the beginning of 2022, when inflation increased and interest rates increased.
The Figma reported a 129% net holding rate, a reflection of expansion with existing customers. The figure fell from 132% in the first quarter.
– Jordan Nove from CNBC contributed to this report.
WRISTWATCH: Figma shares fall
