Insiders Back Figma As AI Credit Push Meets Gemini Image Pressure

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• Director Andrew Phillips Reed has recently bought additional NYSE:FIG shares, signaling internal confidence in Figma’s outlook.

• Cathie Wood’s Ark Invest has been accumulating NYSE:FIG, adding institutional weight behind the stock.

• Figma is rolling out an AI credit based pricing model as it leans more heavily into AI powered features.

• Google’s Gemini Image model introduces fresh competitive pressure on Figma’s plans to monetize AI driven design tools.

Figma, trading on the NYSE under the ticker NYSE:FIG, last closed at $29.39. The stock is up 12.6% over the past week, which stands in contrast to a 21.9% decline year to date and a 2.2% decline over the past month. This highlights how sentiment has recently shifted. With limited trading history, there is not yet a long track record for 1 year and beyond.

For you as an investor, this mix of insider buying, institutional interest, and a new AI centered revenue model comes at the same time as tougher competition from Google’s Gemini Image. The key question is whether Figma’s push into AI credits and features can build a durable business line in the face of a large rival. The rest of this article looks at what that could mean for risk, potential reward, and how NYSE:FIG now fits into the broader design and AI tools space.

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For you as a shareholder or potential buyer, the current mix of signals around Figma is quite mixed. On the positive side, director Andrew Phillips Reed has committed about US$36.5m of personal capital and Ark Invest has added more than US$10m. Together these moves point to confidence from both insiders and a high profile institutional investor. That enthusiasm sits alongside strong reported revenue, with Q4 sales of US$303.78m and full year 2025 revenue of US$1.06b, plus guidance that points to further revenue growth in 2026. At the same time, Figma moved from quarterly net income of US$33.07m a year ago to a Q4 net loss of US$226.56m, and the full year loss widened to US$1.25b, so the business is still firmly loss making while it leans into AI powered tools and usage based pricing.

• The rapid take up of AI powered features, with around 75% of customers reported to be using AI credits weekly, supports the view that Figma’s platform can extend beyond core designers to product managers and developers. This aligns with the narrative of broader product development adoption.

• Heavier AI investment and the widening net loss challenge the idea that AI spending will quickly translate into margin leverage, especially as Google’s Gemini Image and large players like Adobe and Canva put pressure on pricing and differentiation.

• The shift to charging for AI credits and the new shelf registration of about US$744.63m of stock tied to employee plans introduce elements, such as potential dilution and a greater mix of usage based revenue, that are not fully covered in the earlier narrative focus on subscriptions.

Knowing what a company is worth starts with understanding its story. Check out one of the top narratives in the Simply Wall St Community for Figma to help decide what it’s worth to you.

• ⚠️ Figma remains unprofitable, with a 2025 net loss of US$1.25b and analysts not forecasting profitability in the next 3 years, so the path to sustainable earnings is uncertain.

• ⚠️ Competition from Google’s Gemini Image, plus established design players such as Adobe and Canva, could limit how much Figma can charge for AI credits and design tools over time.

• 🎁 Revenue is growing strongly, with 2025 sales of US$1.06b and 41% growth over the past year, and guidance points to further revenue expansion in 2026.

• 🎁 Insider buying and increased positions from Ark Invest signal that some informed and institutional investors see long term potential in Figma’s AI focused product set and customer adoption.

From here, it makes sense to watch a few key data points. First, how quickly AI credit revenue shows up in reported numbers and whether it lifts revenue per customer without pushing users toward free or cheaper alternatives from Google or Adobe. Second, whether Figma can keep net dollar retention high while controlling costs, so that the sizeable net losses start to narrow. Third, keep an eye on any future share issuances from the US$744.63m shelf registration, as that could affect per share outcomes even if the overall business grows.

To ensure you’re always in the loop on how the latest news impacts the investment narrative for Figma, head to the community page for Figma to never miss an update on the top community narratives.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include FIG.

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