Figma vs ExlService: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Figma, Inc. (FIG)

Q3 20268 Jul – 6 Aug 2026

▼3

Figma beats Q2 but AI costs and slowing growth spook investors

AI inference costs squeeze margins Figma's Q2 results beat estimates, but the cost of running AI features jumped 117% because the company pays for AI computing power on beta products that don't yet earn revenue. This near-term hit to profit margins, plus soft full-year operating income guidance, drove the stock down about 15%.
This is the main new reason FIG fell this period and directly explains the price move.
Growth is slowing and top executives are leaving Revenue rose 48% to over $370 million, but Q3 guidance implies growth slowing to about 36%. The CEO also announced the chief marketing officer and chief product officer are departing. Slower growth and leadership turnover make investors worry the best days of expansion may be behind it.
Slowing growth guidance and executive departures are new, concrete negatives that push the stock down.
Lock-up expiration could release millions of shares An upcoming lock-up expiration could let early investors and employees sell millions of Figma shares, adding selling pressure. Combined with the AI cost concerns and slowing growth, this creates a near-term headwind for the stock price.
The lock-up is a new, specific supply risk that can push the share price down.

July 20268 Jul – 6 Aug 2026

▼3

Figma beats Q2 but AI costs and slowing growth spook investors

AI inference costs squeeze margins Figma's Q2 results beat estimates, but the cost of running AI features jumped 117% because the company pays for AI computing power on beta products that don't yet earn revenue. This near-term hit to profit margins, plus soft full-year operating income guidance, drove the stock down about 15%.
This is the main new reason FIG fell this period and directly explains the price move.
Growth is slowing and top executives are leaving Revenue rose 48% to over $370 million, but Q3 guidance implies growth slowing to about 36%. The CEO also announced the chief marketing officer and chief product officer are departing. Slower growth and leadership turnover make investors worry the best days of expansion may be behind it.
Slowing growth guidance and executive departures are new, concrete negatives that push the stock down.
Lock-up expiration could release millions of shares An upcoming lock-up expiration could let early investors and employees sell millions of Figma shares, adding selling pressure. Combined with the AI cost concerns and slowing growth, this creates a near-term headwind for the stock price.
The lock-up is a new, specific supply risk that can push the share price down.

Latest8 Jul – 6 Aug 2026

▼3

Figma beats Q2 but AI costs and slowing growth spook investors

AI inference costs squeeze margins Figma's Q2 results beat estimates, but the cost of running AI features jumped 117% because the company pays for AI computing power on beta products that don't yet earn revenue. This near-term hit to profit margins, plus soft full-year operating income guidance, drove the stock down about 15%.
This is the main new reason FIG fell this period and directly explains the price move.
Growth is slowing and top executives are leaving Revenue rose 48% to over $370 million, but Q3 guidance implies growth slowing to about 36%. The CEO also announced the chief marketing officer and chief product officer are departing. Slower growth and leadership turnover make investors worry the best days of expansion may be behind it.
Slowing growth guidance and executive departures are new, concrete negatives that push the stock down.
Lock-up expiration could release millions of shares An upcoming lock-up expiration could let early investors and employees sell millions of Figma shares, adding selling pressure. Combined with the AI cost concerns and slowing growth, this creates a near-term headwind for the stock price.
The lock-up is a new, specific supply risk that can push the share price down.

ExlService Holdings Inc (EXLS)

Q3 202629 Jul – 8 Oct 2026

▲3

EXL's AI pivot drives strong Q2 beat, raised guidance, and new products

Q2 beat and raised guidance EXL reported Q2 revenue of $594.8 million, up 15.6% year over year, beating estimates by 3.5% and posting the highest full-year guidance raise among data services peers. Adjusted EPS rose 22%, with data and AI services now 61% of revenue. This strong execution directly boosts investor confidence and supports a higher stock price.
This is the core fundamental driver: better-than-expected results and raised outlook directly lift the stock.
iMerit acquisition completed EXL completed its acquisition of iMerit, an AI model training and reinforcement learning company, creating an end-to-end enterprise AI platform. This expands EXL into high-growth AI technology sectors and deepens its specialized AI capabilities, positioning it to capture more AI spending and drive future revenue growth.
The acquisition is a strategic move that expands EXL's AI offerings and growth potential, directly affecting its competitive position.
New $1B credit facility boosts flexibility EXL closed a new $1 billion senior secured credit facility, increasing borrowing capacity from $600 million and providing greater covenant flexibility. This gives EXL more firepower for acquisitions and share repurchases under its $500 million buyback program, which can support earnings per share and strategic growth.
The expanded credit facility enhances EXL's ability to fund growth initiatives and return capital, a positive for the stock.
Leadership departure and AI product launches President Vivek Jetley is leaving to become CEO of Hexaware, a loss of a key executive who led insurance and healthcare. However, EXL embedded agentic AI into its LifePRO and Payment Integrity solutions, cutting product launch times and boosting productivity. The departure is a negative, but new AI products reinforce growth prospects.
This captures both a negative event (leadership loss) and a positive development (AI product integration) that affect EXL's future performance.

September 202629 Jul – 8 Oct 2026

▲3

EXL's AI pivot drives strong Q2 beat, raised guidance, and new products

Q2 beat and raised guidance EXL reported Q2 revenue of $594.8 million, up 15.6% year over year, beating estimates by 3.5% and posting the highest full-year guidance raise among data services peers. Adjusted EPS rose 22%, with data and AI services now 61% of revenue. This strong execution directly boosts investor confidence and supports a higher stock price.
This is the core fundamental driver: better-than-expected results and raised outlook directly lift the stock.
iMerit acquisition completed EXL completed its acquisition of iMerit, an AI model training and reinforcement learning company, creating an end-to-end enterprise AI platform. This expands EXL into high-growth AI technology sectors and deepens its specialized AI capabilities, positioning it to capture more AI spending and drive future revenue growth.
The acquisition is a strategic move that expands EXL's AI offerings and growth potential, directly affecting its competitive position.
New $1B credit facility boosts flexibility EXL closed a new $1 billion senior secured credit facility, increasing borrowing capacity from $600 million and providing greater covenant flexibility. This gives EXL more firepower for acquisitions and share repurchases under its $500 million buyback program, which can support earnings per share and strategic growth.
The expanded credit facility enhances EXL's ability to fund growth initiatives and return capital, a positive for the stock.
Leadership departure and AI product launches President Vivek Jetley is leaving to become CEO of Hexaware, a loss of a key executive who led insurance and healthcare. However, EXL embedded agentic AI into its LifePRO and Payment Integrity solutions, cutting product launch times and boosting productivity. The departure is a negative, but new AI products reinforce growth prospects.
This captures both a negative event (leadership loss) and a positive development (AI product integration) that affect EXL's future performance.

Latest29 Jul – 8 Oct 2026

▲3

EXL's AI pivot drives strong Q2 beat, raised guidance, and new products

Q2 beat and raised guidance EXL reported Q2 revenue of $594.8 million, up 15.6% year over year, beating estimates by 3.5% and posting the highest full-year guidance raise among data services peers. Adjusted EPS rose 22%, with data and AI services now 61% of revenue. This strong execution directly boosts investor confidence and supports a higher stock price.
This is the core fundamental driver: better-than-expected results and raised outlook directly lift the stock.
iMerit acquisition completed EXL completed its acquisition of iMerit, an AI model training and reinforcement learning company, creating an end-to-end enterprise AI platform. This expands EXL into high-growth AI technology sectors and deepens its specialized AI capabilities, positioning it to capture more AI spending and drive future revenue growth.
The acquisition is a strategic move that expands EXL's AI offerings and growth potential, directly affecting its competitive position.
New $1B credit facility boosts flexibility EXL closed a new $1 billion senior secured credit facility, increasing borrowing capacity from $600 million and providing greater covenant flexibility. This gives EXL more firepower for acquisitions and share repurchases under its $500 million buyback program, which can support earnings per share and strategic growth.
The expanded credit facility enhances EXL's ability to fund growth initiatives and return capital, a positive for the stock.
Leadership departure and AI product launches President Vivek Jetley is leaving to become CEO of Hexaware, a loss of a key executive who led insurance and healthcare. However, EXL embedded agentic AI into its LifePRO and Payment Integrity solutions, cutting product launch times and boosting productivity. The departure is a negative, but new AI products reinforce growth prospects.
This captures both a negative event (leadership loss) and a positive development (AI product integration) that affect EXL's future performance.