Figs Inc
NYSE:FIGS
Figs Inc
FIGS, Inc. is a direct-to-consumer healthcare apparel and lifestyle brand that seeks to celebrate, empower and serve current and future generations of healthcare professionals. The company is headquartered in Santa Monica, California and currently employs 264 full-time employees. The company went IPO on 2021-05-27. The firm provides a range of products for women and men. Its product offering includes a scrubwear assortment, which consists of approximately 13 styles available on the Company's digital platform year-round. Its core styles consist of three women’s scrub tops, four women’s scrub pants, three men’s scrub tops and three men’s scrub pants. The firm offers lifestyle apparel and other non-scrub offerings that include lab coats, underscrubs, outerwear, activewear, loungewear, compression socks, footwear, masks, face shields and other products. Its lab coats are designed for both students and professionals and feature technical liquid repellent and anti-static fabric with functional pockets for stethoscopes, tablets and pens. The firm also offers activewear and outwear for healthcare professionals. It's activewear includes sports bras and performance leggings for the active medical professional.
FIGS, Inc. is a direct-to-consumer healthcare apparel and lifestyle brand that seeks to celebrate, empower and serve current and future generations of healthcare professionals. The company is headquartered in Santa Monica, California and currently employs 264 full-time employees. The company went IPO on 2021-05-27. The firm provides a range of products for women and men. Its product offering includes a scrubwear assortment, which consists of approximately 13 styles available on the Company's digital platform year-round. Its core styles consist of three women’s scrub tops, four women’s scrub pants, three men’s scrub tops and three men’s scrub pants. The firm offers lifestyle apparel and other non-scrub offerings that include lab coats, underscrubs, outerwear, activewear, loungewear, compression socks, footwear, masks, face shields and other products. Its lab coats are designed for both students and professionals and feature technical liquid repellent and anti-static fabric with functional pockets for stethoscopes, tablets and pens. The firm also offers activewear and outwear for healthcare professionals. It's activewear includes sports bras and performance leggings for the active medical professional.
Revenue Growth: FIGS reported 8% year-over-year revenue growth in Q3, its highest in two years, reaching $151.7 million and surpassing expectations.
Profitability: Adjusted EBITDA margin improved by 900 basis points to 12.4%, aided by strong gross margin (69.9%) and SG&A leverage.
Guidance Raised: Management meaningfully raised full-year 2025 outlook, now expecting 7% revenue growth (up from low single digits) and adjusted EBITDA margin of 10.3%, above previous guidance.
Promotional Strategy: FIGS continued to pull back on promotions, which boosted margins and average order value (AOV), with AOV up 6% to $114.
International Expansion: International revenue grew 12%, and FIGS plans to expand from 33 to nearly 60 markets by year-end, with launches in Japan, South Korea, and an upcoming debut in China.
Inventory Management: Inventory rose 23% year-over-year as the company invested in core styles and product launches, but management expects moderation in unit growth and better efficiency going forward.
Tariff Headwinds: Tariffs are expected to have a significant impact in 2026, but management is actively pursuing mitigation efforts and does not plan price increases in 2025.
Community Hubs & Teams: New store openings in key medical hubs and upgrades to the Teams platform are expected to drive incremental growth.
