Shares of Figs (FIGS +26.87%) soared on Friday after the medical apparel supplier reported earnings that were more than double what investors expected.
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Healthy growth
Figs' second-quarter net revenue jumped 28.8% year over year to $196.6 million, driven by a rise in orders and average order value.
The maker of scrubs and other healthcare clothing saw its active customers grow 13.2% to 3.1 million as of June 30. Those customers spent an average of $127 per order, up 8.5% from the prior-year period.
Figs' growth was broad-based. Scrubwear revenue rose 26.5% to $161.2 million, while its non-scrubwear revenue surged 40.3% to $35.4 million. International markets were a notable source of gains, with sales up 67% to $37.9 million.
NYSE: FIGS
Key Data Points
Tariff refunds helped to drive gross margin up by 8.2 percentage points to 75.2%. They also contributed to a fourfold rise in net income to $28.4 million, or $0.15 per share. That crushed Wall Street's estimates, which had called for per-share profits of $0.07.
This growth story is still in its early chapters
Figs now expects its full-year revenue to grow roughly 20% in 2026, up from a prior forecast of 14% to 16%. The company also boosted its stock buyback program by $100 million.
Peering further into the future, CEO Trina Spear believes Figs has a long runway for expansion still ahead.
"Given that we are still only serving a tiny percentage of the world's healthcare professionals, we believe we are just getting started," Spear said.
