GTLB, MDB, BRZE, INTA, CFLT at or below 6x sales for ~20%+ growth (TTM current bookings growth below) with a case for acceleration. While disruption is always possible many of these companies may prove to be an AI beneficiary creating an accelerating top-line and a revaluation of multiple.

Net retention metrics looks healthy (though defined by customers >$10k), and cohorts continue to expand. Overall Figma looks to have a durable growth story in the public markets, while still early in their journey to move upmarket.

Private data suggests a similar linear ramp, with modest net $ growth from $200M of net ARR add per year

Growth in customers and revenue somewhat linear with some dollar acceleration. Q1 impacted by days. Customers >$10k continue to ramp.

Track company and product-specific news releases effortlessly with our security analysis tool. Gain valuable insights and ensure you never miss a story relevant to your holdings, competitive landscape, or market analysis.

Tailor Your News to What Matters Most!
Easily filter news to focus on what’s most relevant to your coverage, portfolio, or role. Use our curated industry categories or perform a free-form search to find exactly what you need.