Figma Inc (NYSE:FIG) stock fell early Thursday. The price drop occurred after the company reported second-quarter financial results in extended trading on Wednesday. The Nasdaq is up 0.14% while the S&P 500 has gained 0.25%, and Technology is leading higher with a 0.44% gain.

Figma reported second-quarter revenue of $370.08 million, topping the $351.56 million estimate. Adjusted earnings hit eight cents per unit, beating estimates of four cents. Total revenue grew 48% year-over-year. The company generated $60.9 million in net operating cash flow and $53.2 million in free cash flow during the quarter.

"Q2 was Figma’s third straight quarter of accelerated revenue growth, and as code gets commoditized and value moves up the stack, the opportunity ahead of us has only grown," said Dylan Field, CEO of Figma.

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Outlook

For the third quarter, Figma projects revenue between $373 million and $375 million, versus estimates of $364.87 million. Figma raised its full-year revenue outlook to $1.463 billion to $1.467 billion, up from $1.422 billion to $1.428 billion, topping estimates of $1.437 billion.

Figma (FIG) Stock: Key Levels To Watch

From a trend perspective, the stock is still trying to rebuild after a deep 12-month drawdown of 74.39%, and the longer-term damage remains visible with shares trading 18% below the 200-day SMA at $28.18. That said, the intermediate trend has improved, with the stock 5.9% above its 50-day SMA ($21.82) and 8.7% above its 100-day SMA ($21.25).

Near-term, Thursday’s drop pulls price back under the 20-day SMA ($23.57) and 20-day EMA ($23.64), which often acts like a "line in the sand" for short-term traders. The 20-day SMA is still above the 50-day SMA (a bullish crossover), but the bigger-picture "death cross" from January (50-day below the 200-day) suggests rallies can still face overhead supply.

Momentum is best framed by RSI, which sits at 49.79—basically neutral—implying the selloff is more of a positioning unwind than a clearly oversold washout.

  • Key Resistance: $25.50
  • Key Support: $20

FIG Stock Price Activity: Figma shares were down 17.51% at $23.22 at the time of publication on Thursday, according to Benzinga Pro data.

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