FIGS FIGS
FIGS is a direct-to-consumer healthcare apparel company that sells scrubs and accessories for healthcare professionals.
- Ticker
- FIGS
- Headquarters
- Santa Monica, California
- CEO
- Trina Spear
- IPO year
- 2021
- Sector
- Medical Apparel
- Website
- wearfigs.com
- Management
- Team & leadership ↗
Notes & Takes
"Heather Hasson and Trina Spear started as Co-CEOs at FIGS, but that didn’t last long after the stock tumbled. Trina came out on top in the power struggle, and Heather moved into the Executive Chair role. Since then, Heather has consistently sold her shares.
I'm not exactly a fan of this management team but with a lot of cash on the balance sheet and a solid DTC model it's a name I like to follow."
Company Financials
Quarterly Headlines
Full financial detail for each company lives in its Google Sheet, linked above. Best viewed on desktop.
FIGS Q1 2026
Mar 31, 2026
- Revenues up 28%
- Scrubwear revenue up 27%
- Non scrubwear revenue up 33%
- U.S. revenues up 24% with international up 49%
- Gross profit margin of 67%
- Net income of $6.3 million vs. compared to a net loss of $0.1 mill last year
- Adjusted EBITDA of $13.9 million and a margin of 8.7%
- AOV of $124 up 4%
- Guiding for full year revenue up 14% to 16% and and adjusted EBITDA margin of 13%
- $276 million in cash with no debt
FIGS Q5 2025
Dec 31, 2025
- Net revenues up 33%
- Scrubwear revenues up 35%
- U.S. revenues up 28.7%
- International revenues up 55%
- Gross margins of 62.9% down 4.4% due to tariffs and an inventory write off
- Operating expenses up 16%
- Net income of $18.5 mill with adjusted EBITDA of $26.7
- Net income margin was 9.2% with adjusted EBITDA margin of 13.2%
- Active customer for full year 2025 increased by 9%
- AOV for 2025 was $120 for 2025 up 6%
- Cash and ST investments of $300 mill with no debt
FIGS Q3 2025
Sep 30, 2025
- Net revenues up 8.2%
- Scrubwear revenues up 8.4%
- Non scrubwear revenues up 7.2%
- US revenues up 7.5%
- International revenues up 11.7%
- Gross margin of 69.9%
- Net income of $8.7 mill or $0.05 per diluted share
- Net income margin of 5.8%
- AOV was $114 up 5.6%
- $241 mill in cash with debt
FIGS Q2 2025
Jun 30, 2025
- Net revenues up 5.8% due to an increase in orders from new customers and higher AOV’s
- Scrubwear net revenues up 7.7%
- Non scrubwear net revenues up 2.5%
- U.S. revenues up 3.7%
- International revenues up 19.8%
- Gross margin of 67%
- Net income of $7.1 million or $0.04 per diluted share
- AOV was $117 up 3.5% driven higher by unit retail price and lower return rates
- Cash of $237 million and no debt
- Cash used in operating activities the first 6 months was $3.1 million
FIGS Q1 2025
Mar 31, 2025
- Revenues up 4.7% YoY due to orders up from existing customers and higher average order value
- Scrubwear up 4.9% YoY
- Non scrubwear up 3.8% YoY
- U.S. revenue up 2.9% YoY
- International revenue up 16.4% YoY
- Gross margins 67%
- Net income of $0
- AOV was $119 an increase of 2.6% YoY
- Cash of $251 million and no debt
FIGS Q4 2024
Dec 31, 2024
- Revenues up 4.8% YoY due to an increase in orders from existing customers
- Non scrubwear revenue was $37 million up 13% YoY
- U.S. revenues were flat while international was up 45% YoY
- Gross margin was 67%
- Operating expenses up 12% YoY
- Net income of $1.9 mill for a net income margin of 1.2% vs. 6.9% last year
- $244 mill in cash and ST investments and no debt
FIGS Q3 2024
Sep 30, 2024
- Revenue decreased 1.5% YoY
- Gross margin was 67.1% a decreased of 1.3% YoY
- Operating expenses up 17% YoY due to higher marketing expenses and selling expenses
- Net loss was $1.7 million
- AOV was $108, a decrease of 5.3% YoY
- Signed and closed a $25 million minority investment in OOG Inc.
FIGS Q2 2024
Jun 30, 2024
- Revenue increased 4.4% YoY
- Gross margin was 67.4% a decrease of 2.1% YoY
- Operating expenses were up 7% YoY from higher selling and marketing expenses
- Net income was $1.1 million
- AOV was $113, a decrease of 1.7% YoY
- BOD authorized a share repurchase program for up to $50 million of the company’s outstanding stock
FIGS Q1 2024
Mar 31, 2024
- Revenues decreased by 1% YoY
- Gross margin was 68.9% a decrease of 2.4% YoY
- Operating expenses were down 1% YoY due to lower selling and storage costs
- Net income was $1.4 million
- AOV was $116, an increase of 1.8% YoY