Figs(NYSE) FIGS

FIGS makes comfortable and stylish clothes for healthcare workers. The company sells these products directly to professionals through its website. Its gear helps medical teams perform their best during long shifts.

What FIGS Sells

• Scrubwear: Technical apparel including tops and bottoms for medical professionals; accounts for 79.2% of net revenues.
• Non-Scrubwear: Lifestyle offerings such as lab coats, outerwear, and activewear; accounts for 20.8% of net revenues.
• Footwear and Socks: Performance shoes and compression socks designed for long periods of standing.
• TEAMS: A digital platform for business-to-business sales to healthcare institutions.

New Moves and Market Growth

• Launched a major marketing campaign for the 2026 Winter Olympics to grow brand awareness.
• Expanded physical retail presence through stores called Community Hubs to provide in-person shopping.
• Increased the share repurchase program to $100 million in February 2025 to return value to stockholders.
• Entered into a stockholders agreement with Baron Capital Management and BAMCO regarding ownership and voting rights.

What Makes the Brand Tick

FIGS uses a direct-to-consumer model that bypasses traditional retailers to build a community around its brand. The company manages its supply chain closely and uses customer data to drive inventory decisions.

Measuring the Gains

• Net revenues reached $159.9 million in Q1 2026, up 28% from Q1 2025.
• Gross profit hit $108.3 million in Q1 2026, up 28.2% from Q1 2025.
• Net income turned positive at $6.3 million in Q1 2026, improved from a $102,000 loss in Q1 2025.
• Active customers grew to 3 million by March 31, 2026, a 12.2% increase year-over-year.

The Evolution of FIGS

FIGS has moved from a digital startup to a category-defining brand with retail stores and international reach. Its focus on branded medical apparel has turned a basic product into a professional lifestyle category.