![]() Figma’s product offering competes most directly with Adobe XD, which has been bringing in under $15 million in annual recurring revenue, a tiny portion of Figma’s $400 million ARR. ![]() Figma was becoming a major competitor to Adobe’s very own design tools, though Adobe denies those claims. Its products are being used by 4 million designers globally. Figma offers a free version of its software as it has wanted to make sure that designing capabilities are accessible to everyone. Figma’s products make it possible for interactive mobile and web application designers to collaborate through multi-player workflows, sophisticated design systems, and an extensible developer ecosystem.įigma’s products gained significant popularity during the pandemic as its tools allowed workers to build apps or websites remotely. It is known for pioneering product design on the web. Founded in 2012 by Dylan Field and Evan Wallace, Figma has been on a mission to help teams collaborate visually and make design accessible to all. The biggest news for Adobe was its $20 billion acquisition of Palo Alto-based design startup Figma. The market was looking for revenues of $4.53 billion and an EPS of $3.44. Within the segment, Experience Cloud subscription revenues grew 14% to $981 million.Īdobe expects to end the fourth quarter with revenues of $4.52 billion and non GAAP EPS of $3.50. The digital experience segment revenues grew 14% to $1.12 billion. Document Cloud’s revenues grew 23% to $607 million with ARR at $2.25 billion. Creative Cloud generated $2.63 billion of revenues, growing 11%, and ended the quarter with an ARR of $11.15 billion. Services & support revenues grew 13% to $179 million.īy segment, revenues from digital media grew 13% to $3.23 billion with Digital Media’s annualized recurring revenues growing to $13.4 billion. Product revenues grew 6% to $126 million. Subscription revenues grew 13% to $4.13 billion, accounting for 93% of the total revenues. ![]() Adjusted EPS of $3.40 also beat analyst estimates by 2.1%. But the biggest news for the company was its $20 billion acquisition of Figma, a small design startup.Īdobe’s third quarter revenues grew 13% to $4.433 billion, ahead of the market’s estimates of $4.43 billion. Īdobe (NASDAQ: ADBE) recently reported its quarterly results that continued to outpace market expectations. I like fundamentals-focused business building, and teach the principles of fundamentals-focused business building at 1Mby1M. Please subscribe to my Cloud Stock Analysis series and never miss an article. I’m publishing this series to discuss a topic that I follow closely - cloud stocks, trends, strategy, acquisitions, and more.
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