FIGS Exceeds Q1 Expectations, Raises Full-Year Revenue and Profit Guidance on Strong Growth
Summary
FIGS, Inc. announced strong first-quarter financial results, beating revenue and earnings estimates, and subsequently raised its full-year 2026 financial outlook.
Key Events
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Strong Q1 Financial Performance
Net revenues increased 28.0% year-over-year to $159.9 million, exceeding expectations. The company reported net income of $6.3 million, or $0.03 diluted earnings per share, compared to a net loss in the prior year period.
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Raised Full-Year Outlook
FIGS, Inc. increased its full-year 2026 net revenues growth outlook to 14% to 16% (from 2025) and raised its adjusted EBITDA margin expectation to 13.0% to 13.2%.
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Customer Growth Milestone
The company surpassed three million active customers for the first time, with active customers increasing 12.2% year-over-year to 3.0 million as of March 31, 2026.
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Improved Margins
Gross margin expanded by 10 basis points year-over-year to 67.7%, and adjusted EBITDA margin improved to 8.7% from 7.3% in the same period last year.
Analysis
FIGS, Inc. reported robust first-quarter results, significantly surpassing both top and bottom-line expectations. The company achieved substantial revenue growth and a return to net profitability, alongside an expansion in gross and adjusted EBITDA margins. The increase in full-year guidance for both net revenues and adjusted EBITDA margin signals strong operational momentum and management's confidence in continued performance, which is a positive indicator for investors. The milestone of exceeding three million active customers further underscores the brand's growing market penetration and customer loyalty.
At the time of this filing, FIGS was trading at $13.35 on NYSE in the Manufacturing sector, with a market capitalization of approximately $2.6B. The 52-week trading range was $4.25 to $17.48. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.