If you’ve been refreshing your brokerage app or scouring Reddit for a countdown clock, you might have missed the memo. The short answer to the question what time does figma ipo isn't actually a "when" anymore—it's a "what happened."
Figma already went public.
Honestly, the confusion is totally understandable. For years, we all watched the Adobe acquisition drama like a slow-motion car crash. Then, when the $20 billion deal died in late 2023 because of regulatory pressure, everyone just assumed Figma would sit in private-market purgatory forever. But they didn't. They moved fast.
The Day Figma Finally Hit the Tape
Figma officially made its debut on the New York Stock Exchange (NYSE) on July 31, 2025.
If you're looking for the specific minute-by-minute breakdown of that day, here is how the timing actually shook out. Like most high-profile tech IPOs, the stock didn't start trading the second the opening bell rang at 9:30 AM ET. That’s just not how the NYSE works for new listings.
The "price discovery" phase—where the floor brokers and the designated market maker (DMM) figure out where the buy and sell orders actually meet—took a few hours.
- Priced: The night of July 30, Figma priced its shares at $33.00.
- The "Open": Figma (ticker symbol: FIG) finally opened for public trading at approximately 1:58 PM ET on July 31.
- The Pop: It opened way higher than the $33 IPO price. We’re talking a massive opening trade in the $90 range.
Why the Timing Felt So Weird
Usually, when a company this big goes public, there's a months-long victory lap. With Figma, it felt like they filed the paperwork and were on the floor of the exchange before the ink was even dry on their independent roadmap.
They filed their confidential S-1 in April 2025. By July, they were a public company. That’s a breakneck pace for a SaaS giant.
The reason people are still searching for what time does figma ipo in 2026 is likely because the stock has been a total roller coaster. If you bought in during those first two days, you probably saw the price hit an insane record high of $142.92.
And then? The floor fell out.
What’s Happening with FIG Stock Right Now?
As of mid-January 2026, the vibe around Figma has shifted from "hype" to "show me the money." The stock has actually dipped back toward that original $33 IPO price.
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It’s a classic "broken IPO" story, but with a twist. The company is actually doing okay. They reported a 38% revenue jump in their recent quarterly earnings, hitting about $274 million for the quarter. But Wall Street is being a bit of a jerk about their AI spending.
CEO Dylan Field has been pretty open about the fact that Figma is pouring cash into AI tools like Figma Make (the prompt-to-code tool) and Figma Sites. Investors, who used to love growth at any cost, are now acting much more conservative. They saw Figma’s negative net margins and started heading for the exits.
Recent Analyst Feelings
- Goldman Sachs: They’re sitting on the fence with a "Neutral" rating and a price target around $40.
- JPMorgan: Recently trimmed their target to $60.
- The "Bulls": Point to the fact that Figma is basically the "operating system" for design. Once a company like Google or Netflix integrates Figma into their workflow, they aren't leaving.
Is It Still a Buy in 2026?
Whether or not the current price is a bargain depends on how much you believe in their "everything tool" strategy.
Figma isn't just for UI/UX designers anymore. They’ve launched Figma Draw for illustrators and Figma Buzz for marketing teams. They are trying to eat Adobe’s lunch from the outside in.
If you're looking to jump in now, you're getting a much better entry point than the people who FOMO’d in at $140 last August. But keep an eye on the January 27, 2026 date. That’s when the 180-day lockup period expires. When that hits, a lot of early employees and insiders will finally be allowed to sell their shares.
Sometimes that leads to a temporary price drop as a wave of new supply hits the market.
Actionable Steps for Investors
- Check the Lockup: Mark January 27 on your calendar. If you’re looking to buy, you might want to see if there's a "lockup dump" that gives you a cheaper entry.
- Monitor the Burn: Watch the next earnings report specifically for "Operating Margin." If they can show that AI spending is starting to level off while revenue keeps growing at 30%+, the stock will likely rebound.
- Use the Ticker: Make sure you're looking at FIG on the NYSE. Don't confuse it with random OTC stocks or old SPACs that might have similar names.
Figma is a rare breed—a profitable (on an adjusted basis) software company that actually dominates its niche. The "time" to get in on the IPO has passed, but the "time" to evaluate it as a long-term hold is just beginning.