Key Highlights

  • Figma 2x Long ETF (NASDAQ:FIGG) was quoted up 12.32% at USD 19.88 on October 22, 2026, which implies roughly 6.2% for Figma shares before fees, simple arithmetic dividing the fund move by two.
  • Figma's second quarter 2026 Revenue was USD 370.1 million, up 48% from USD 249.6 million, with non-GAAP Operating Income of USD 36.1 million and a GAAP operating loss of USD 117.3 million.
  • The company raised full year 2026 revenue guidance by USD 40.0 million to USD 1.463 billion to USD 1.467 billion, and reported net dollar retention of 136% and cash of USD 1.7 billion.
  • Figma 2x Long ETF (NASDAQ:FIGG) lists on Nasdaq, carries a published expense ratio of 0.75%, and had about USD 12.2 million in assets, so size and spreads matter.

Figma's Latest Fundamentals

Figma (NYSE:FIG) reported second quarter 2026 results on August 5, 2026. Revenue grew 48% to USD 370.1 million, Gross Profit was USD 309.6 million at an 84% GAAP margin, and free Cash Flow was USD 53.2 million. The gap between GAAP and non-GAAP profit is large: a GAAP loss from operations of USD 117.3 million against non-GAAP operating income of USD 36.1 million, which the company linked to higher sales and Marketing spending around its Config conference. The net loss was USD 112.2 million, or USD 0.21 per share. Cash, equivalents and marketable securities were USD 1.7 billion, giving a long runway despite the GAAP loss.

Growth Drivers and Guidance

Customer metrics point to deepening use. Paid customers above USD 10,000 of annual Recurring Revenue reached 15,964, up 34%, and those above USD 100,000 reached 1,635, up 46%. More than 80% of the larger customers used AI credits weekly, and over half used the Figma agent weekly by July 31, 2026. Third quarter revenue guidance is USD 373.0 million to USD 375.0 million, implying about 36% growth, and full year guidance implies about 39%. Growth is decelerating from 48%, which is the central debate for valuation. No company release explains the latest move, which coincided with a software rebound in the October 21 session. Competition is intensifying.

How the 2x ETF Connects

The fund is issued by Leverage Shares, lists on Nasdaq, and carries a published expense ratio of 0.75%, with inception on October 14, 2025. Figma 2x Long ETF (NASDAQ:FIGG) aims for twice Figma's daily return using swaps, so the implied stock move is about 6.2%. As simple arithmetic, a 2x fund that gains 12.32% one day and loses 12.32% the next ends about 1.52% lower, while the stock moving half as much each way ends about 0.38% lower. Figma is a recent listing with a history of large single day swings in both directions, which makes daily compounding drag more relevant than it would be for a steadier stock. Investors should treat the fund as a short horizon vehicle and note that results for Figma's third quarter are expected in early November, with the exact date not verified.

Where Things Stand

The answer is that Figma 2x Long ETF (NASDAQ:FIGG) rose because Figma's shares climbed in a broad software rebound, and the fund doubles that move; no new company release was found for the day. The fundamentals are solid on growth, retention and cash, yet GAAP losses and decelerating growth keep valuation debates open. A 2x fund magnifies both sides. The next marker is the third quarter report, expected in early November.