AI-extracted from the 10-Q filed 2026-08-06 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Net revenues rose 28.8% YoY to $196.6M and gross margin expanded 820bps to 75.2%, aided by a one-time $15.4M IEEPA tariff refund, while a new CBP withhold order against FIGS' Jordanian manufacturer (~1/3 of Q2 production) threatens H2 supply and margins.
Biggest Revenue Drivers
Scrubwear$161.2M
Net revenues increased primarily driven by an increase in orders and higher AOV.
Non-Scrubwear$35.4M
Biggest Revenue Drivers
Total revenue: $196.6M+28.8% YoY
Scrubwear$161.2M
Net revenues increased primarily driven by an increase in orders and higher AOV.
Non-Scrubwear$35.4M
Largest Expense Items
Selling$43.7M+26.9% YoY
Increased in absolute dollars with revenue growth; decreased as % of net revenues due to leverage on higher net revenues and favorable shipping rates.
Marketing$28.5M+23.2% YoY
Decreased as % of net revenues due to leverage on higher net revenues and digital marketing efficiency.
General and administrative$40.4M+16.2% YoY
Decreased as % of net revenues due to leverage on higher net revenues and lower stock-based compensation expense.
Watch Items from the Filing
On June 23, 2026 CBP issued a withhold release order against FIGS' Jordanian manufacturing partner, which produced approximately one-third of finished goods in the quarter; company expects adverse impact to net revenues, gross margin and inventory in H2 2026.
New Section 301 tariffs of 10.0%-12.5% took effect July 24, 2026 on goods from ~60 countries/territories including supplier locations (Vietnam 12.5%, Jordan 10.0%), replacing expired Section 122 tariffs, with continued uncertainty on scope and legal challenges.
Cost of goods sold benefited from a $15.4M reduction from IEEPA tariff refunds in Q2 2026 (including $7.9M related to prior-year sales), a non-recurring item inflating the current quarter's gross margin.
Rest of world revenue grew from $22.7M to $37.9M while active customers expanded 13.2% YoY to approximately 3.1 million, indicating accelerating international and customer growth momentum.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Willhite John MartinDirectorGrant or award · Jun 3, 2026
Lin Kenneth Jian-HongDirectorGrant or award · Jun 3, 2026
Marte Mario JesusDirectorGrant or award · Jun 3, 2026
Whelan Melanie AnyaDirectorGrant or award · Jun 3, 2026
Jao Hsiao YuehDirectorGrant or award · Jun 3, 2026
Wilke Jeffrey ADirectorGrant or award · Jun 3, 2026
About FIGS, Inc. (FIGS): stock profile, AI score and financials
FIGS, Inc. (FIGS) stock profile, AI quality score, and SEC EDGAR financial data, a Consumer Discretionary sector company. 13F Pro's AI-powered ranking engine scores FIGS at 63.8/100 on a composite quality score built from its SEC filings, placing it at rank #587 of 2,925 stocks — the top 25% of the AI-ranked universe. FIGS scores in the top quartile across balance sheet strength (87.8). Shareholder dilution risk is elevated at 26.4/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), FIGS, Inc. reports quarterly revenue of $196.6M, net income of $28.4M, an operating margin of 17.9%. Top institutional holders of FIGS by reported 13-F value include BAMCO, BlackRock, DRIEHAUS CAPITAL MANAGEMENT, based on the most recent SEC filings. FIGS trades on the NYSE exchange and files with the SEC under CIK 1846576. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate FIGS daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for FIGS, Inc. directly from SEC EDGAR.