newsfilter
← Latest News
Business Wire·

FIGS Releases Second Quarter 2026 Financial Results

FIGS
  • FIGS, Inc. reported second quarter 2026 net revenues of $196.6 million, representing a 28.8% year-over-year increase.
  • Scrubwear net revenues reached $161.2 million (up 26.5% year-over-year), while non-scrubwear revenues grew 40.3% to $35.4 million.
  • U.S. net revenues increased 22.2% to $158.7 million, whereas international net revenues surged 67.0% to $37.9 million.
  • The company achieved a net income margin of 14.4% an Adjusted EBITDA margin of 18.6%, exceeding analyst expectations.
  • Gross margin improved by 820 basis points year-over-year to 75.2%, driven largely by $7.9 million in IEEPA tariff refunds.
  • Operating expenses rose 21.9% to $112.6 million, yet decreased as a percentage of net revenues to 57.3% due to fixed cost leverage.
  • Net income for the quarter was $28.4 million ($0.15 diluted EPS), compared to $7.1 million ($0.04 diluted EPS) in the prior year period.
  • Active customers increased 13.2% year-over-year to 3.1 million, with net revenue per active customer rising 10.1% to $229.
  • Average order value (AOV) grew 8.5% year-over-year to $127, attributed to higher pricing and favorable product mix.
  • The Board of Directors authorized a $100 million increase to the share repurchase program, effective August 6, 2026.
  • Full Year 2026 outlook was raised to project net revenue growth of approximately 20% versus 2025.
  • The updated Full Year 2026 Adjusted EBITDA margin guidance is set between 14.8% and 15.0%.
  • As of June 30, 2026, the company held approximately $19.2 million available for share repurchases under its ongoing program.
  • The company will host a conference call to discuss results at 2:00 p.m. PT / 5:00 p.m. ET on the release date.