Figma reported $678M of remaining performance obligations at 30 Sep 2026, up 31% from a year earlier and down 1% from the previous quarter. That is 0.5 years of trailing revenue already under contract. Book-to-bill last quarter: 0.98.
Net new backlog added in the latest quarter: -$9.50M.
Over the last twelve months it turned about 221% of its opening backlog into revenue (12-month conversion).
Customer prepayments (contract liabilities) cover 92.5% of the backlog.
Twelve-month book-to-bill: 1.11, i.e. 1.11 of new orders for every 1 of revenue recognised.
By backlog size it ranks 276th among US filers the cockpit tracks.
Figma backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Sep 2026
$678M
$1.40B
0.5 yrs
$627M
30 Jun 2026
$687M
$1.28B
0.5 yrs
$627M
31 Mar 2026
$682M
$1.16B
0.6 yrs
$628M
31 Dec 2025
$648M
$1.06B
0.6 yrs
$595M
30 Sep 2025
$517M
n/a
n/a
$474M
30 Jun 2025
$449M
n/a
n/a
$433M
Questions
What is Figma's backlog?
Figma reported $678M of remaining performance obligations at 30 Sep 2026, up 31% from a year earlier and down 1% from the previous quarter. That is 0.5 years of trailing revenue already under contract. Book-to-bill last quarter: 0.98.
How fast does Figma's backlog turn into revenue?
Over the last twelve months Figma recognised revenue equal to about 221% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.