FIGS Inc - Class A

FIGS, Inc. designs and sells scrubwear for health care professionals through a digitally native, direct-to-consumer strategy. The company reported a very strong first quarter, with revenue of $159.9 million, up 28%, significantly exceeding guidance for low-20% growth and consensus expectations. U.S. revenue grew 24% to $131.6 million, driven by strength across core offerings, new product launches, and promotional periods. International revenue accelerated 50% to $28.3 million, with double-digit growth in every region. Active customers surpassed 3 million for the first time, up 12% year over year, indicating strong market share gains in the attractive global health care apparel industry.

FIGS, Inc. designs and sells scrubwear for health care professionals through a digitally native, direct-to-consumer strategy.

FIGS, Inc. designs and sells scrubwear for health care professionals through a digitally native, direct-to-consumer strategy. Shares rose following robust fourth-quarter results and upbeat 2026 guidance. Revenue expanded 33% to $201.9 million, reflecting broad-based momentum across categories and geographies and exceeding expectations. U.S. revenue rose 28.7% to $164.2 million, while international revenue accelerated 55% to $37.7 million. This topline strength translated to profitability, with EBITDA rising 29.8% to $26.7 million. The company maintains a strong balance sheet, with no debt and roughly $300 million in cash and marketable securities.

FIGS, Inc. designs and sells scrubwear for health care professionals through a digitally native, direct-to-consumer strategy. Shares rose following robust fourth-quarter results and upbeat 2026 guidance. Revenue expanded 33% to $201.9 million, reflecting broad-based momentum across categories and geographies and exceeding expectations. U.S. revenue rose 28.7% to $164.2 million, while international revenue accelerated 55%. The company maintains a strong balance sheet, with no debt and roughly $300 million in cash and marketable securities, positioning it well for future growth.

Shares of FIGS increased 18.6% in the quarter and added 35 bps to performance. The company is generating strong results and accelerating revenue from recent investments made over the past year. This is despite making a conscious decision to pull back on promotions. After several years of industry pressure, FIGS is now seeing more normal purchasing and replenishment patterns while also benefiting from specific initiatives around product and marketing that are resonating with its customers. The company is also seeing better-than-expected margin improvements as they begin to get better efficiency out of their new fulfillment center. We continue to believe FIGS can take share in the attractive $80 billion global health care apparel industry.

FIGS, Inc. designs and sells scrubwear for health care professionals using a digitally native, direct-to-consumer strategy. Shares rose after the company reported better-than-expected quarterly results and raised its revenue and profitability guidance for the remainder of the year. Despite intentionally reducing promotional activity, FIGS achieved nearly 6% revenue growth during the second quarter and delivered stronger-than-expected margin improvement driven by efficiency gains at its new fulfillment center. Looking ahead, we retain conviction in FIGS’ ability to gain share given its high-quality, needs-based products and exposure to the fast-growing U.S. health care industry.