FIGS (NYSE:FIGS) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

FIGS (NYSE:FIGS) posted its earnings results on Thursday. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.08, FiscalAI reports. FIGS had a net margin of 6.10% and a return on equity of 9.69%. The business had revenue of $196.62 million during the quarter, compared to the consensus estimate of $186.17 million. During the same quarter in the previous year, the firm posted $0.04 EPS. The firm’s revenue was up 28.8% on a year-over-year basis.

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%

NYSE FIGS traded up $0.26 during trading hours 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 52 week low of $6.07 and a 52 week high of $17.48. The firm has a market capitalization of $1.87 billion, a P/E ratio of 50.83 and a beta of 1.03. The business’s fifty day moving average price is $10.87 and its two-hundred day moving average price is $12.49.

Wall Street Analyst Weigh In

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

Key FIGS News

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.

Institutional Trading of FIGS

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. increased its holdings in FIGS by 9.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock worth $78,602,000 after acquiring an additional 1,144,962 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in FIGS by 1.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,417,008 shares of the company’s stock valued at $29,549,000 after acquiring an additional 70,660 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of FIGS by 66.2% in the fourth quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock worth $48,824,000 after purchasing an additional 1,712,610 shares during the last quarter. Geode Capital Management LLC increased its stake in FIGS by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 2,957,667 shares of the company’s stock worth $33,608,000 after acquiring an additional 145,270 shares during the last quarter. Finally, State Street Corp increased its position in FIGS by 3.9% in the fourth quarter. State Street Corp now owns 2,429,194 shares of the company’s stock worth $27,596,000 after purchasing an additional 90,568 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

About FIGS

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.