Introduction

Figma crossed $1B ARR with 41% growth and strong profits, proving SaaS can scale fast and stay efficient at the top.

What’s the problem it solves?

Most SaaS giants slow down after reaching $1B ARR. Figma shows how to keep growing fast, expand with enterprises, and still stay profitable.

Quick Summary

Figma reached $1B ARR with 41% year-over-year growth, $100M+ net income, and 24% free cash flow margins. This puts it among the strongest performing SaaS companies at scale, on par with rare high-growth giants like Snowflake and MongoDB during their peak phases.

Enterprise growth is a key driver. Customers paying $100K+ ARR rose to 1,119, up 16% in one quarter. While they are fewer than 10% of total customers, they likely make up 40-60% of revenue. Figma also shows exceptional net dollar retention (129%) at scale, meaning customers keep spending more year after year.

The mid-market ($10K-$100K ARR) is another big growth engine, with nearly 11,000 customers in this range. Moving even a fraction of them into enterprise-level contracts could fuel years of expansion. At the same time, Figma is investing in AI and new products while maintaining strong cash flow, proving it can grow fast and efficiently without burning through resources.

Key Takeaways

• Enterprise customers are driving growth, with $100K+ ARR accounts growing fastest.
• 129% NDR at scale means expansion revenue alone adds ~30% yearly.
• 41% growth at $1B ARR is rare and shows efficient, durable growth.
• Mid-market customers ($10K-$100K) are a huge expansion runway.
• Strong cash generation (24% FCF) lets Figma invest in AI and new products while staying profitable.

What to do

• Track $100K+ ARR customers as a key growth engine early.
• Focus on NDR consistency by driving upsells and cross-sells.
• Build durable growth instead of chasing growth-at-any-cost.
• Treat mid-market customers as future enterprise accounts.
• Use strong cash flow to fund product bets like AI and category expansion.

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