Design-software maker Figma publicly filed for an initial public offering with the U.S. Securities and Exchange Commission on 1 July, aiming to list on the New York Stock Exchange under the ticker “FIG.” The San Francisco-based company said the offering could be one of the year’s largest technology flotations, marking a return to public markets activity after a prolonged slowdown. Figma’s prospectus details robust growth. Revenue jumped 48 percent in 2024 to $749 million, while first-quarter 2025 sales rose another 46 percent year over year to $228.2 million. Net income for the March quarter climbed to $44.9 million from $13.5 million a year earlier, and gross margin stood at about 91 percent. The company was valued at $12.5 billion in a tender offer last year and now counts more than 13 million monthly active users. The filing also shows an increasingly diversified balance sheet. As of 31 March, Figma held roughly $69.5 million in spot Bitcoin exchange-traded funds and won board approval in May to buy an additional $30 million of the token using the stablecoin USDC. Together with a $1 billion breakup fee received when Adobe’s planned takeover collapsed, the moves leave Figma with $1.54 billion in cash and cash equivalents. Morgan Stanley, Goldman Sachs, Allen & Co. and JPMorgan are leading the deal, which IPO watchers estimate could raise up to $1.5 billion. Proceeds are earmarked for working capital, potential acquisitions and repayment of a revolving credit facility. The listing follows regulators’ December 2023 decision to block Adobe’s proposed $20 billion acquisition of Figma—an outcome that now positions the 13-year-old firm to test investor appetite on its own.