FIGS (NYSE:FIGS) Announces Earnings Results

FIGS (NYSE:FIGS) released its earnings results on Thursday. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.08, FiscalAI reports. The business had revenue of $196.62 million during the quarter, compared to the consensus estimate of $186.17 million. FIGS had a return on equity of 9.69% and a net margin of 6.10%.The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period last year, the company earned $0.04 earnings per share.

Here are the key takeaways from FIGS’s conference call:

• Q2 revenue growth accelerated: Net revenue rose 29% year over year to $196.6 million, supported by 13% active-customer growth, a record $127 AOV, and higher purchase frequency. FIGS raised its full-year revenue growth outlook to approximately 20%, from 14%–16% previously.
• Profitability improved significantly: Adjusted EBITDA margin reached 18.6% excluding the prior-year portion of tariff refunds, versus 12.9% a year ago. Full-year adjusted EBITDA margin guidance increased to 14.8%–15%, while a new $100 million buyback authorization brought total remaining repurchase capacity to $119 million.
• Growth is broad-based across the ecosystem: Non-scrub wear increased 40%, international revenue grew 67%, and teams and community hubs each reached record revenue. FIGS also acquired V Coterie to expand pins, jewelry, charms, and accessories and further increase customer wallet share.
• Jordan supply disruption creates execution risk: A U.S. Customs and Border Protection Withhold Release Order is preventing imports from a Jordanian partner, prompting FIGS to shift production to other suppliers and use air freight. Management said it has mitigated most of the impact and still expects to meet its raised outlook, but the disruption will pressure costs and inventory availability.
• Tariff refunds materially benefited reported results: FIGS recognized a $20.5 million IEEPA tariff recovery, including a $15.4 million reduction to cost of goods sold and a $5.1 million inventory adjustment. The refund supports 2026 margins and cash flow, but it is largely a nonrecurring benefit that investors will need to separate from underlying performance.

FIGS Trading Up 2.4%

Shares of FIGS traded up $0.26 during midday trading on Thursday, hitting $11.18. 4,669,844 shares of the company’s stock traded hands, compared to its average volume of 2,900,423. FIGS has a 1 year low of $6.07 and a 1 year high of $17.48. The firm’s fifty day moving average is $10.87 and its 200-day moving average is $12.49. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 50.83 and a beta of 1.03.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. KeyCorp reiterated an “overweight” rating on shares of FIGS in a report on Tuesday, June 23rd. Zacks Research downgraded shares of FIGS from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 8th. Morgan Stanley increased their price objective on FIGS from $8.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Monday, April 13th. BTIG Research restated a “buy” rating and set a $20.00 price objective on shares of FIGS in a report on Friday, April 24th. Finally, Weiss Ratings cut FIGS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, FIGS has a consensus rating of “Moderate Buy” and an average price target of $15.93.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FIGS. Quarry LP increased its position in FIGS by 1,876.3% during the 3rd quarter. Quarry LP now owns 7,846 shares of the company’s stock valued at $52,000 after buying an additional 7,449 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in FIGS in the second quarter valued at about $61,000. Walleye Capital LLC acquired a new stake in FIGS in the second quarter worth about $65,000. Kemnay Advisory Services Inc. acquired a new stake in FIGS in the fourth quarter worth about $69,000. Finally, Prudential Financial Inc. purchased a new stake in shares of FIGS during the second quarter worth about $70,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting FIGS

Here are the key news stories impacting FIGS this week:

• Positive Sentiment: Quarterly results exceeded expectations. FIGS reported second-quarter revenue of $196.6 million, up 28.8% year over year and above the $186.2 million analyst estimate. Reported earnings also beat consensus, with sources citing EPS of $0.11 to $0.15 versus expectations of $0.07, compared with $0.04 a year earlier. FIGS Releases Second Quarter 2026 Financial Results
• Positive Sentiment: Full-year revenue guidance was above Wall Street expectations. FIGS issued fiscal 2026 revenue guidance of approximately $757.3 million, compared with the analyst consensus of $729.1 million. The outlook suggests management expects continued demand and growth momentum. FIGS Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: Growth was broad enough to support the positive reaction. The earnings coverage highlighted FIGS’s product innovation, international expansion and improving demand as key contributors to performance, reinforcing the company’s growth narrative. FIGS Q2 Earnings Key Metrics
• Neutral Sentiment: Investors should monitor profitability and costs. Ahead of the report, analysts identified tariffs and freight expenses as potential pressures on margins. Although FIGS posted a 6.1% net margin and 9.69% return on equity in the quarter, future cost trends remain important given the stock’s elevated valuation.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.