Five weeks after going public with a stunning 250% first-day pop , Figma is coming back down to Earth.

Shares of design software company Figma plunged 14% in extended trading, as investors took a dim view of Figma’s first quarter earnings report.

Figma CEO Dylan Field, who cofounded the company in 2012 and watched its $20 billion acquisition by Adobe fall apart in 2023, isn’t one to get caught up in the negative . “We’re at the very start of what I hope is a long term relationship together,” a confident Field told listeners as he kicked off the earnings call, taking advantage of the opportunity to demonstrate Figma’s presentation technology.

Prior to the call, Field spoke to Fortune and shared his thoughts on one of the most important trends affecting his business: AI.

“No on

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