00:48:08 · John Coogan, Jordi Hays, Praveer Melwani
[00:48:08] S1: What... How is the overall market expansion working its way through Figma? Like, I can imagine that there's some people that are, you know, for their first time, they're getting into making digital products. And some of them might flow into Figma. Some of them might flow into an agentic workflow or an MCP interface, and they might not even know. Other people might be expanding their usage because they're they're creating new products. Like, what is the shape of the growth in demand? [00:48:39] S2: Yeah. Yeah. I think the [00:48:41] S4: way you're describing it, it's kinda how we feel it. We both have an opportunity to go broad. Yeah. A whole bunch of the new use cases are now enabled via the AI products that we shipped. So Yeah. You know, you historically maybe would have needed to lean on a designer or developer as your hand in order to communicate or build an idea. Now through prompting a natural language, you can, you know, you can sit in Figma make and, you know, have your ID... Have your idea then be rendered for you. [00:49:04] S1: Yeah.
00:49:04 · John Coogan, Praveer Melwani
[00:49:04] S1: Yeah. [00:49:04] S4: So it's really empowering empowering to to PMs. PMs. It's It's really really empowering empowering to marketers, user researchers. It's giving more reasons for folks to hold a full seat, you know, where that where that would have been a little bit of a tougher sell, you know, even a couple years ago. Sure. And I... And then to your point on the MCP side, you know, I I do think that the ways in which the people are working are shifting very rapidly. I think it's, you know, it's been really interesting. We've added over 20 MCP partners over the course of the quarter, and, you know, we continue to we continue to open up how we can work with others there and kick off different workflows. And it's not just that, you know, we're bringing more context in. It's actually starting kick off first party agent workflows on the Canvas. Yeah. It's about 5% of all credit consumption in the quarter was actually orchestrated via an MCP. So it's actually people kicking off a first party workflow, which is pretty unique.
00:49:45 · John Coogan
[00:49:45] S1: How how mature is the the thinking around the billing relationship around MCP? Because I have been hungry for integrations that flow through to an agent of choice with that I already have a billing relationship with. Yep. And I mean, I guess the agent can just like shut set up my credit card over there. But it seems like there's an opportunity that could be good for everyone involved. It's a little dicey. It could be app store ish. It could be bad but... And frustrating. But I'm wondering how you're how you're dealing with the trade off of what happens if someone goes to ChatGPT and then says, I want to use Figma, go design it in Figma and then charge my OpenAI account versus take my credit card over to Figma and put it there? Like, how how are you dealing with the trade offs and opportunities and risks there?
00:50:38 · Praveer Melwani, John Coogan, Jordi Hays
[00:50:38] S4: Yeah. Well, I mean, just just to start, I think what we're what we're seeing is that by virtue of how we've orchestrated our our MCP, we've actually given people more reason to hold a full full seat Sure. Than, you know, in prior cycles. So that has driven a benefit in the number of new new paid team conversions, the amount of, you know, folks that are holding a paid seat. Mhmm. We've we've also found though is that, you know, what folks are really trying to do is, you know, if they're gonna kick off a first party workflow in Figma, what we're doing with the first party agent in Figma has got to be has got to be of higher quality leveraging unique context that that we own. And in doing so, they're they're actually getting value from, you know, leveraging the the the AI features in Figma. You know, what what has... What the reality is today is that MCP usage as we've tracked it, you know, through the business is leading to higher retention. Mhmm. [00:51:26] S1: We'll have [00:51:27] S4: more expansion within accounts. And then as you start to put the math together on the credit consumption side, you know, I think that our ability then to farm to different sub agent workflows is gonna be increasingly more important. [00:51:37] S2: Yeah. Jordi? Yeah. There's this interesting dynamic right now where if, like, people are sending agents to your product [00:51:43] S1: Yeah. [00:51:43] S2: It's... It can be an indicator that that there's functionality [00:51:47] S1: Yeah.
00:51:47 · John Coogan, Jordi Hays
[00:51:47] S1: Yeah. [00:51:47] S2: That that that you're not building. I was talking to some people at a at a like a financial institution this week and obviously every finance company in the world is dealing with people like sending their agents to like poke around and do things in their product and they're like scared about that for for a good reason. But to... I was telling them this is just a signal that like you need to do a lot more Mhmm. In your product to to have that same functionality and I think that's what you guys have been doing for like, you know, the last two years. It's like make sure that that the the same, like, sort of, like, intelligence is available wherever you're sort of, like, starting a project from.
00:52:23 · Praveer Melwani, John Coogan
[00:52:23] S4: I also think you have to think about, you know, what are the things that you can do with lower latency, higher quality, and lower cost on your platform that makes it better for for a user to feel like they should be leveraging your first party first party, you know, AI use cases. So we've been developing a first party model now for for some time. You know, we doubled the amount of actions that are powered by that first party model over the course of the quarter. And we hold a whole bunch of unique context of our file system of, you know, the the Figma architecture so that we can actually build a smaller model that's lower latency can can work through those tasks much faster. So I think you have to think workflow when you think about, like, what are the things that you really want to own and where are there areas where it's it's helpful to, you know, almost use the MCP as an acquisition vehicle or rather part of part of the process versus feeling it like like it's combative in any way. [00:53:09] S1: What is it like doing an earnings call when there's all this chaos going on but it feels like you have a pretty clean story? Like there's like the semi trade is like going is getting nuked and then there's the midterms and it feels like you're just presenting like the business is still working, we're still growing, everything's moving along. Do you have to answer questions for... To investors about what's happening in the market broadly, or are you able to kind of just stay focused on the core metrics?