FIGS Third-Quarter Net Revenues Rise 25.7% to $190.7 Million: Fourth Straight Quarter Above 25% Growth, Full-Year Outlook Raised
Santa Monica — FIGS, Inc., the healthcare apparel brand headquartered in Santa Monica, Los Angeles County, California, on November 5 released its third-quarter 2026 results: net revenues were $190.7 million, up 25.7% year over year, marking the fourth straight quarter of growth above 25%; net income was $19.3 million, or $0.10 in diluted earnings per share, compared with net income of $8.7 million, or $0.05, a year earlier, with the net income margin rising to 10.1% from 5.8%; and adjusted EBITDA was $31.5 million, a 16.5% margin, up from 12.4%.
By category, scrubwear net revenues were $157.5 million, up 24.0%, and non-scrubwear net revenues were $33.2 million, up 34.6%. By geography, U.S. net revenues were $153.9 million, up 20.8%, and international net revenues were $36.8 million, up 51.4%. Gross margin was 69.3%, down 60 basis points year over year, which the company attributed primarily to outsized improvements in returns processing in the prior year and higher inventory reserves, partly offset by pricing increases and efficiency efforts.
Active customers as of September 30, 2026 increased 14.3% year over year to 3.2 million. Net revenues per active customer were $236, up 12.9% to a record, and average order value was $126, up 10.5%.
FIGS raised its full-year outlook: it now expects net revenues to grow approximately 23.5% for full-year 2026, with the fourth quarter up about 15%, and a full-year adjusted EBITDA margin of approximately 15.8%. Chief Financial Officer Sarah Oughtred said cash, cash equivalents and short-term investments reached a record of just over $330 million, and that the company continued to return value to shareholders through its recently expanded share repurchase program.
"Our momentum continued in Q3, which marked our fourth straight quarter of greater than 25% net revenues growth, powered by consistent strength across our categories, channels and geographies," said Chief Executive Officer and Co-Founder Trina Spear. "It has been a landmark year so far for FIGS." Founded in Santa Monica, FIGS is a direct-to-consumer healthcare apparel and lifestyle brand serving healthcare professionals in the U.S. and internationally. (Source: FIGS)
Source: FIGS
Published by GSM · USA (original Chinese edition)
Photo: 图：FIGS 总部所在地 Santa Monica 的海滩与码头航拍。Jelson25 摄，公共领域，经 Wikimedia Commons。 / Photo: An aerial view of the beach and pier in Santa Monica, where FIGS is headquartered. By Jelson25, public domain, via Wikimedia Commons.
