FIGS (NYSE:FIGS) Posts Earnings Results, Beats Estimates By $0.08 EPS

Key Points

• FIGS beat quarterly expectations: Earnings per share reached $0.15 versus the $0.07 consensus, while revenue rose 28.8% year over year to $196.6 million, exceeding estimates.
• Management raised its full-year outlook: FIGS now expects approximately 20% revenue growth and a 14.8%–15% adjusted EBITDA margin, supported by active-customer growth, higher average order values and international expansion.
• Risks remain around costs and supply: A Jordanian import disruption is forcing production shifts and increased air freight, while a $20.5 million tariff recovery materially benefited reported results and may not recur.

FIGS (NYSE:FIGS - Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.08, FiscalAI reports. The firm had revenue of $196.62 million during the quarter, compared to analyst estimates of $186.17 million. FIGS had a return on equity of 9.69% and a net margin of 6.10%.The business's quarterly revenue was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $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 Price Performance

Shares of NYSE:FIGS traded up $0.26 during trading on Thursday, hitting $11.18. The company had a trading volume of 4,669,844 shares, compared to its average volume of 2,900,423. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 50.83 and a beta of 1.03. The company has a fifty day simple moving average of $10.87 and a two-hundred day simple moving average of $12.49. FIGS has a one year low of $6.07 and a one year high of $17.48.

Institutional Trading of FIGS

A number of institutional investors have recently bought and sold shares of the stock. Quarry LP raised its stake in shares of FIGS by 1,876.3% in the third quarter. Quarry LP now owns 7,846 shares of the company's stock valued at $52,000 after acquiring an additional 7,449 shares during the period. Hudson Bay Capital Management LP bought a new position in FIGS during the 2nd quarter valued at about $61,000. Walleye Capital LLC purchased a new stake in FIGS in the 2nd quarter worth about $65,000. Kemnay Advisory Services Inc. bought a new stake in FIGS in the fourth quarter worth about $69,000. Finally, Prudential Financial Inc. purchased a new position in shares of FIGS during the second quarter valued at approximately $70,000. 92.21% of the stock is currently owned by institutional investors.

Key Headlines 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.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FIGS. Zacks Research downgraded FIGS from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 8th. Morgan Stanley lifted their price objective on shares of FIGS from $8.00 to $15.00 and gave the company an "equal weight" rating in a research report on Monday, April 13th. KeyCorp reissued an "overweight" rating on shares of FIGS in a report on Tuesday, June 23rd. Weiss Ratings lowered shares of FIGS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. Finally, BTIG Research reaffirmed a "buy" rating and set a $20.00 target price on shares of FIGS in a research note on Friday, April 24th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $15.93.

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.

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