KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
Key Takeaway
Figma delivered solid Q2 results with 41% YoY revenue growth to $249.6M, but that wasn’t enough for a stock priced at sky-high expectations. Guidance points to slowing growth, margin pressure is rising, and early lockup releases add near-term supply risk.
Core Financials
Q2 Revenue: $249.6M (+41% YoY), in line / slightly below consensus
Q3 Guidance: $263–265M (+~33% YoY)
Full-Year Guidance: $1.021–1.025B (+~37% YoY)
Operating Margin: Down, pressured by higher R&D and S&M spend
Takeaway: Growth decelerating from 40%+ to low-30s, with no upside surprise
Key Highlights
Customer Expansion
$10K+ customers: 11,906
$100K+ customers: 1,119
80% using 2+ products; ~⅔ using 3+ products → healthy multi-product adoption
Net Dollar Retention
Slipped to 129% (from 132% in Q1) → upsell momentum moderating
New Products
Launches: Make, Draw, Sites, Buzz → broadening from design to full “idea-to-launch” workflows
Expenses Rising
AI + ecosystem investments lifted R&D and S&M ratios
Config conference drove seasonal spike in sales/marketing costs
Supply Overhang
Early Unlock: 25% of employee-held shares tradable from Sept 5
Mitigation: Large holders agreed to staggered extensions
Implication: Near-term volatility as supply meets a valuation reset
Investor Watch
Long-Term:
Focus on NDR stabilization
Track monetization of new AI-driven products
Assess whether multi-product adoption drives a “second growth curve”
Short-Term:
Setup skewed to downside — slowing growth, margin compression, early unlock supply
Price action likely weak until fundamentals catch up
Comments
Post a Comment