Adobe updated ARR for Q3
ARR for Creative + Document Cloud +13% to $13.4 B
$449 million net new add ARR in the quarter.
Say what you want about the Figma deal, but it will be big for Creative Cloud and eliminates their most fierce competitor in the design software biz.
Figma is expected to add approximately $200 million in net new ARR this year, surpassing $400 million in total ARR exiting 2022. Their net dollar retention rate is best-in-class at greater than 150 percent.
With gross margins of approximately 90 percent and positive operating cash Figma deserves a premium.