Figma vs. IBM: What Revenue Growth Trends Tell Investors About the Young Software Design Company and the Veteran Artificial Intelligence Tech Giant

Figma posted $333.4 million in revenue for Q1 2026, marking 46% year-over-year growth and its eighth consecutive quarter of sequential gains. IBM, meanwhile, missed Q2 2026 revenue expectations and saw Z Systems mainframe sales plunge 42% year-over-year, pushing shares to a 52-week low amid persistent volatility in its hardware and consulting segments.

The contrast underscores diverging trajectories in enterprise software. Figma's consistent expansion reflects sustained demand for collaborative design tools, while IBM's legacy hardware business continues to weigh on overall performance despite its pivot toward artificial intelligence. The 42% decline in Z Systems—a core mainframe product line—signals ongoing customer hesitation in refresh cycles, a headwind IBM has struggled to offset with newer AI-driven offerings.

IBM's share price hit its lowest point in a year following the miss, highlighting investor impatience with uneven execution. Figma's uninterrupted growth streak, by contrast, positions the private company as a potential standout in any future public offering.