Figma Q1 2026: Revenue Accelerates to $333M (+46% YoY), NDR Hits 139%, AI Credit Monetization Proves Design Incumbents Can Thrive

SaaStr·high signal

Figma reported Q1 revenue of $333M growing 46% YoY — a second consecutive quarter of acceleration. Net dollar retention jumped to 139% (highest in 2+ years), 60% of $100K+ ARR customers now use Make weekly, and AI credit limits launched March 18 are driving seat upgrades. Full-year guidance raised $55M to $1.42-1.43B. Stock up 12% but still trades below 10x ARR, showing the market discounts even high-performing design SaaS in the AI era.