The software giant's stock fell despite increased revenue and disclosing $90.8 million in Bitcoin ETFs, with its CEO emphasizing the firm remains a 'design company,' not a treasury-focused entity.
Software company Figma's share price dropped nearly 20% to $54.56 following its Q2 earnings report, despite a 41% year-over-year revenue increase to $249.6 million. The company disclosed holding $90.8 million in Bitcoin ETFs as of June 30. CEO Dylan Field clarified the investment is a diversification hedge, stating Figma is a 'design company' and not a 'Bitcoin holding company' like Strategy (formerly MicroStrategy).