Figma (NYSE: FIG) delivered a fiscal fourth-quarter performance that not only beat expectations but also challenged a prevailing market fear. For months, a narrative dubbed the "SaaSpocalypse" has weighed on software stocks. Investors worried that generative artificial intelligence (AI) would displace traditional Software-as-a-Service (SaaS) business models. The theory was simple but frightening: if AI can design interfaces and write code, companies will need fewer human workers and, consequently, fewer software subscriptions.
Figma’s latest results suggest the exact opposite is happening. The company reported fourth-quarter revenue of $303.8 million, marking an accelerated year-over-year growth rate of 40%. This performance exceeded analyst estimates on both the top and bottom lines, triggering a sharp rally in after-hours trading. Before this release, the stock had struggled in 2026, trading near $24 per share, well below its IPO price. This report signals a potential reversal in sentiment, driven by hard data showing that AI is not replacing Figma, but rather becoming a core engine for its expansion.
