Figma vs. UiPath: What Revenue Growth Trends Tell Investors About These Tech Companies
Key Points
UiPath generated higher absolute revenue totals throughout all of the last eight quarters, but Figma exhibits a steeper upward trajectory that is rapidly closing the gap between the two companies.
Figma demonstrated an unbroken pattern of quarter-over-quarter revenue growth, whereas UiPath experienced a distinctly volatile financial trajectory characterized by seasonal spikes frequently followed by consecutive declines.
Investors examining the financial performance of these two companies should watch whether the revenue gap continues to narrow, or if the upward momentum begins to decelerate in upcoming quarters.
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Figma: Steady and Consistent Revenue Growth
Figma (NYSE:FIG) generates its core revenue by selling software subscriptions to a suite of collaborative, browser-based tools that empower distributed professional teams to seamlessly design, prototype, and build digital experiences and applications across multiple platforms.
It recently announced the general availability of an automated design agent and expanded its software capabilities through custom animation updates, while also facing a proposed class action lawsuit in federal court regarding internal data usage.
UiPath: Uneven Revenue With Seasonal Peaks
UiPath (NYSE:PATH) primarily earns its revenue by offering a robotic process automation (RPA) ecosystem that empowers large-scale enterprise organizations to design, deploy, and securely oversee software bots for executing complex, routine administrative workflows.
It recently promoted Hitesh Ramani to the role of chief financial officer and launched a new orchestration canvas to map enterprise processes, while also expanding a two-way data integration agreement with Snowflake.
Why Revenue Matters for Investors
Revenue serves as the most fundamental baseline for evaluating whether a business is successfully attracting new customers, retaining its existing enterprise accounts, and expanding its overall commercial operations over time.
Figma vs. UiPath Revenue over the last 8 quarters.
Quarterly Revenue for Figma and UiPath
| Calendar quarter | Figma Revenue | UiPath Revenue |
|---|---|---|
| Q3 2024 | $198.6 million (quarter ended Sept. 30, 2024) | $354.7 million (quarter ended Oct. 31, 2024) |
| Q4 2024 | $216.9 million (quarter ended Dec. 31, 2024) | $423.6 million (quarter ended Jan. 31, 2025) |
| Q1 2025 | $228.2 million (quarter ended March 31, 2025) | $356.6 million (quarter ended April 30, 2025) |
| Q2 2025 | $249.6 million (quarter ended June 30, 2025) | $361.7 million (quarter ended July 31, 2025) |
| Q3 2025 | $274.2 million (quarter ended Sept. 30, 2025) | $411.1 million (quarter ended Oct. 31, 2025) |
| Q4 2025 | $303.8 million (quarter ended Dec. 31, 2025) | $481.1 million (quarter ended Jan. 31, 2026) |
| Q1 2026 | $333.4 million (quarter ended March 31, 2026) | $418.4 million (quarter ended April 30, 2026) |
| Q2 2026 | $370.1 million (quarter ended June 30, 2026) | $410.3 million (quarter ended July 31, 2026) |
Data source: Financial Modeling Prep. Data as of Oct. 13, 2026.
Foolish Take
Figma and UiPath are both experiencing revenue trends impacted by the artificial intelligence boom. UiPath relies on AI-powered workflow automation as its core software offering, and its sales trends reflect this fact. Its revenue tends to spike in the fourth quarter, when businesses are looking to spend their IT budgets before the end of the calendar year.
While AI isn't the center of Figma's software design business, the company is increasingly integrating the tech across its offerings. This positions Figma for sales growth because it charges credits to use AI functionality. As customers find AI a key productivity booster, their adoption grows, leading to rising revenue as credits are consumed.
This can be seen in Figma's results for the second quarter, which was the first full quarter of AI credit monetization. Its Q2 sales of $370.1 million was a record and represented outstanding 48% year-over-year growth. Now, Figma is on the verge of catching up to UiPath's sales volume.
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Robert Izquierdo has positions in Figma, Snowflake, and UiPath. The Motley Fool has positions in and recommends Figma, Snowflake, and UiPath. The Motley Fool has a disclosure policy.
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