--- title: "Figs | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 159.9 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285619354.md" datetime: "2026-05-07T21:01:53.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285619354.md) - [en](https://longbridge.com/en/news/285619354.md) - [zh-HK](https://longbridge.com/zh-HK/news/285619354.md) --- # Figs | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 159.9 M Revenue: As of FY2026 Q1, the actual value is USD 159.9 M, beating the estimate of USD 153.14 M. EPS: As of FY2026 Q1, the actual value is USD 0.03, beating the estimate of USD 0.0175. EBIT: As of FY2026 Q1, the actual value is USD 2.244 M. #### Segment Revenue - **Total Net Revenues**: FIGS, Inc. reported total net revenues of $159.9 million for the three months ended March 31, 2026, an increase of 28.0% compared to $124.9 million in the prior year period, driven primarily by an increase in orders from new and existing customers and an increase in Average Order Value (AOV). - **By Geography (Three months ended March 31, 2026 vs. 2025)**: - United States: $131.6 million vs. $106.0 million. - Rest of the world: $28.3 million vs. $18.9 million. - **By Product (Three months ended March 31, 2026 vs. 2025)**: - Scrubwear: $126.6 million vs. $99.6 million. - Non-Scrubwear: $33.3 million vs. $25.3 million. #### Operational Metrics - **Gross Profit**: Increased by 28.2% to $108.3 million for the three months ended March 31, 2026, compared to $84.5 million in the prior year period, primarily due to higher unit sales and positive impact from price increases, partially offset by tariffs. - **Gross Margin**: Increased by 0.1 percentage point to 67.7% for the three months ended March 31, 2026, up from 67.6% in the prior year period, primarily due to price increases and efficiency efforts, largely offset by higher tariffs and product mix shift. - **Net Income (Loss)**: FIGS, Inc. achieved a net income of $6.3 million for the three months ended March 31, 2026, a significant increase from a net loss of - $0.1 million in the prior year period. - **Net Income (Loss) Margin**: Increased from -0.1% to 3.9% for the three months ended March 31, 2026. - **Adjusted EBITDA**: Increased to $13.9 million for the three months ended March 31, 2026, compared to $9.2 million in the prior year period, representing an adjusted EBITDA margin of 8.7%. - **Total Operating Expenses**: Increased by 22.6% to $103.8 million for the three months ended March 31, 2026, compared to $84.7 million in the prior year period, while as a percentage of net revenues, operating expenses decreased by 2.9 percentage points. - **Selling Expense**: Increased by 11.5% to $36.4 million, but decreased by 3.4 percentage points as a percentage of net revenues. - **Marketing Expense**: Increased by 62.4% to $29.5 million, and increased by 3.9 percentage points as a percentage of net revenues, primarily driven by the 2026 Winter Olympics campaign. - **General and Administrative Expense**: Increased by 12.0% to $37.9 million, but decreased by 3.4 percentage points as a percentage of net revenues. - **Other Income, Net**: Decreased to $2.0 million for the three months ended March 31, 2026, from $2.1 million in the prior year period. - **Provision for Income Taxes**: Decreased by 92.0% to $0.2 million for the three months ended March 31, 2026, compared to $2.0 million in the prior year period. #### Cash Flow - **Cash Flows from Operating Activities**: Decreased to - $3.2 million for the three months ended March 31, 2026, compared to $9.2 million in the prior year period, mainly due to timing of cash payments for accounts payable and accrued compensation and benefits, partially offset by increased net income and lower inventory purchases. - **Free Cash Flow**: Decreased to - $5.6 million for the three months ended March 31, 2026, compared to $7.9 million in the prior year period. #### Unique Metrics - **Active Customers**: Increased by 12.2% to 3.0 million at March 31, 2026, from 2.7 million at March 31, 2025. - **Net Revenues per Active Customer**: Increased to $220 as of March 31, 2026, from $208 as of March 31, 2025. - **Average Order Value (AOV)**: Increased to $124 for the three months ended March 31, 2026, from $119 for the three months ended March 31, 2025. #### Future Outlook and Strategy - FIGS, Inc. anticipates tariffs will continue to negatively impact gross margin for 2026, though to a lesser extent than previously disclosed in its 2025 Annual Report, and is evaluating an approximate $20 million refund for IEEPA tariffs. The company believes its existing cash, cash flows from operations, and available borrowings under its $100.0 million revolving credit facility are sufficient to support working capital and capital expenditures for at least the next 12 months. As of March 31, 2026, FIGS, Inc. has approximately $43.2 million available for future share repurchases under its program. ### Related Stocks - [FIGS.US](https://longbridge.com/en/quote/FIGS.US.md) ## Related News & Research - [How Strong Q1 Results And Higher 2026 Guidance At FIGS (FIGS) Has Changed Its Investment Story](https://longbridge.com/en/news/286806996.md) - [A Look At FIGS (FIGS) Valuation After A Volatile Stretch In Recent Share Performance](https://longbridge.com/en/news/286343715.md) - [‘The Pitt’ star Noah Wyle to lead healthcare rally on Capitol Hill](https://longbridge.com/en/news/286936590.md) - [FIGS, Inc. 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