46% revenue growth with 139% NDR but AI disruption risk remains.
Figma faces long-term risks from AI disruption but current financials show strong momentum — Q1 revenue growth of 46% YoY to $333M and net dollar retention at 139%.
Figma's Q1 2026 revenue grew 46% YoY to $333M with net dollar retention at 139%, the highest in years. Free cash flow rebounded to $89M, and the balance sheet holds $1.6B cash with no debt. However, AI disruption to creative software remains a long-term risk, and new customer acquisition has slowed — growth increasingly relies on existing customer expansion.