diff --git a/gradle.properties b/gradle.properties
index bdbe76631..40e866adb 100644
--- a/gradle.properties
+++ b/gradle.properties
@@ -18,7 +18,7 @@ POM_DEVELOPER_NAME=facebook
 POM_ISSUES_URL = 'https://github.com/facebook/flipper/issues/'
 
 # Shared version numbers
-LITHO_VERSION=0.31.0
+LITHO_VERSION=0.32.0
 ANDROIDX_VERSION=1.1.0
 KOTLIN_VERSION=1.3.50