Figma Heats Up Summer IPO Market Amid Software Listing Drought

Figma Inc.’s expected US initial public offering is shaping up as a potential summer blockbuster first-time stock sale, as investors look to back a rare debut from a fast-growing software company.

The design software maker’s 46% year on year increase in first-quarter revenue, as well as high customer retention rates and gross margins, should see investors value the company alongside the top rung of the enterprise software sector, said Charlie Miner, senior analyst at research firm Third Bridge.