FIGS (NYSE:FIGS) Announces Earnings Results

FIGS (NYSE:FIGS) released its earnings results on Thursday. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.02 by $0.08, FiscalAI reports. FIGS had a net margin of 3.03% and a return on equity of 4.50%. The company had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $165.33 million. During the same quarter last year, the business earned $0.01 EPS. The business’s revenue was up 33.0% on a year-over-year basis.

Here are the key takeaways from FIGS’s conference call:

• Q4 net revenue surged 33% year-over-year to $201.9 million with active customers rising to a record 2.9 million, +9% YoY, and AOV up 9%, driving strong profitability in the quarter.
• Full-year 2025 milestones included record net revenue of $631.1 million, scrub wear crossing the $500 million mark, international sales topping $100 million, and a record net cash/investment position of $300.8 million.
• Gross margin faced headwinds from tariff pressures and a deliberate $5.6 million inventory write-off in Q4, and management assumes a 15% global tariff that would add ~280 basis points of drag in 2026.
• Management guided fiscal 2026 to net revenue growth of 10–12% with improved profitability targets — adjusted EBITDA margin of 12.7–12.9% and operating margin of 7.6–7.9% — while planning continued investments and opportunistic buybacks.
• Expansion initiatives showed momentum: international net revenue grew 55% in Q4 with new market entries (e.g., China, South Korea) and plans to exceed 80 markets, plus category and channel builds (Teams B2B, community hubs, product fabric innovations) to broaden future growth.

FIGS Price Performance

FIGS traded up $1.64 during midday trading on Thursday, reaching $12.60. 9,780,949 shares of the company’s stock were exchanged, compared to its average volume of 2,828,274. FIGS has a 1-year low of $3.57 and a 1-year high of $12.66. The stock has a market capitalization of $2.07 billion, a PE ratio of 126.00 and a beta of 1.29. The business’s 50-day moving average price is $11.33 and its 200 day moving average price is $9.29.

More FIGS News

Here are the key news stories impacting FIGS this week:

• Positive Sentiment: Q4 beat — FIGS reported EPS of $0.10 (vs. consensus $0.02) and revenue of $201.9M (vs. consensus $165.3M), showing clear top- and bottom-line outperformance that drove investor optimism. Press Release
• Positive Sentiment: Raised FY2026 revenue guidance — management set revenue guidance of $694.2M–$706.8M, well above the street consensus (~$625.6M), signaling stronger growth expectations for the year and supporting a re-rating of the stock. FIGS Releases Fourth Quarter and Full Year 2025 Financial Results
• Neutral Sentiment: Positive partnership momentum but uncertain lift — the company’s recent promotional push (including an Olympic-related partnership discussed in previews) may drive brand awareness and sales, but the near-term revenue impact is not quantified. Figs on deck with Q4 earnings after Olympic partnership push
• Neutral Sentiment: Street stance remains cautious — analysts’ average rating is around “Hold,” suggesting investors should expect continued scrutiny even after the beat and guide. FIGS, Inc. Receives Average Recommendation of “Hold”
• Negative Sentiment: Profitability and valuation risks — despite revenue strength, net margin remained low (~3.0%) and ROE modest (~4.5%), and the shares trade at a high P/E (~126x), leaving the stock sensitive to any margin pressure or growth shortfall. Press Release

Analyst Ratings Changes

Several research firms have issued reports on FIGS. Zacks Research upgraded FIGS from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $9.00 price objective on shares of FIGS in a report on Friday, February 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of FIGS in a research report on Monday, December 29th. Wolfe Research raised FIGS to a “buy” rating in a report on Wednesday, December 10th. Finally, The Goldman Sachs Group upped their price target on shares of FIGS from $5.50 to $7.50 and gave the stock a “sell” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, FIGS presently has an average rating of “Hold” and an average target price of $10.10.

Insider Transactions at FIGS

In related news, insider Heather L. Hasson sold 22,874 shares of FIGS stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $10.56, for a total transaction of $241,549.44. Following the completion of the transaction, the insider directly owned 1,251,967 shares in the company, valued at $13,220,771.52. The trade was a 1.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sarah Oughtred sold 22,690 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $10.56, for a total value of $239,606.40. Following the sale, the chief financial officer owned 821,500 shares in the company, valued at approximately $8,675,040. This trade represents a 2.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 105,813 shares of company stock valued at $1,168,051 in the last ninety days. Corporate insiders own 29.44% of the company’s stock.

Institutional Trading of FIGS

A number of hedge funds have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its holdings in FIGS by 9.0% in the second quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock valued at $78,602,000 after purchasing an additional 1,144,962 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of 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 purchasing an additional 70,660 shares during the last quarter. Marshall Wace LLP grew its stake in shares of FIGS by 66.2% during the 4th quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock valued at $48,824,000 after buying an additional 1,712,610 shares during the period. Geode Capital Management LLC increased its holdings in shares of FIGS by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 2,957,667 shares of the company’s stock worth $33,608,000 after buying an additional 145,270 shares during the last quarter. Finally, State Street Corp raised its position in shares of FIGS by 3.9% in the 4th quarter. State Street Corp now owns 2,429,194 shares of the company’s stock worth $27,596,000 after buying an additional 90,568 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

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.