FI
Figure AI
ConvictionModerate
general-purpose humanoid robots + embodied-AI (VLA) · vertically-integrated robotics-as-a-service (RaaS)
Revenue
Not disclosed — no audited financialsindustry estimates put 2025 revenue in low-single-digit $M from pilot workRev growth
Not disclosedeven at Apr-2026 cadence (~240 units/mo) and ~$1k/robot/mo RaaS, FY26 ARR is estimated only in the low tens of $MGross margin
Not disclosedprivate; vertically integrated hardware implies thin/negative early-stage unit economicsOp margin
Not disclosedCapex intensity
Not disclosedValuation
~$39B post-moneySeries C, 17 Sep 2025; ~15x step-up from $2.6B Series B, Feb 2024Valuation trail
$39B78.0× since May 2023
3 marks · May 2023–Sep 2025
private — no public price
Priced round
Series A $500M valuation is per secondary aggregators (Sacra/TSG), not the primary release; Series B/C valuations are company-disclosed. Founder's ~$100M seed was self-funded with no disclosed valuation (omitted).
The read
Where our coverage leans
Coverage leans bullish
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage Q2 2026 (Jun 2026)· sign in (free) for the analyst summary; Pro unlocks full intelligence