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FIGS, Inc., together with its subsidiary, FIGS Canada, Inc., operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. The company designs and sells scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel. It also offers sports apparel, performance leggings and tops, super-soft pima cotton tops, vests, fleeces, and jackets; and necessities comprising scrub caps, lanyards, badge reels, bags, baseball caps, and beanies. The company markets and sells its products to healthcare professionals through its direct-to-consumer digital platform comprising website, mobile app, and B2B business, as well as retail stores. FIGS, Inc. was incorporated in 2013 and is headquartered in Santa Monica, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $631M | $47M | $34M | $53M | 7.8% | 13.6% | 1159.2% |
| 2024 | $556M | $9M | $3M | $64M | 0.7% | 1.8% | -88.0% |
| 2023 | $546M | $37M | $23M | $85M | 6.0% | 7.9% | 6.8% |
| 2022 | $506M | $40M | $21M | $-41M | 6.9% | - | - |
| 2021 | - | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 505.84 | 545.65 | 555.56 | 631.10 |
| Operating Revenue | - | 505.84 | 545.65 | 555.56 | 631.10 |
| Cost Of Revenue | - | 151.38 | 168.68 | 179.94 | 211.26 |
| Gross Profit | - | 354.46 | 376.96 | 375.62 | 419.84 |
| Operating Expense | - | 316.79 | 342.92 | 373.36 | 381.69 |
| Selling General And Administration | - | 316.79 | 342.92 | 373.36 | 381.69 |
| Total Expenses | - | 468.17 | 511.60 | 553.29 | 592.95 |
| Operating Income | - | 37.67 | 34.04 | 2.26 | 38.15 |
| Total Operating Income As Reported | - | 37.67 | 34.04 | 2.26 | 38.15 |
| EBITDA | - | 39.59 | 36.99 | 8.96 | 47.18 |
| Normalized EBITDA | - | 39.59 | 36.99 | 8.96 | 47.18 |
| EBIT | - | 37.67 | 34.04 | 2.26 | 38.15 |
| Interest Income | - | 1.71 | 6.78 | 11.24 | 8.75 |
| Interest Expense | 0.24 | - | - | - | - |
| Net Interest Income | - | 1.71 | 6.78 | 11.24 | 8.75 |
| Other Non Operating Income Expenses | - | -0.65 | -0.01 | 0.83 | 0.31 |
| Other Income Expense | - | -0.65 | -0.01 | 0.83 | 0.31 |
| Interest Income Non Operating | - | 1.71 | 6.78 | 11.24 | 8.75 |
| Interest Expense Non Operating | 0.24 | - | - | - | - |
| Net Non Operating Interest Income Expense | - | 1.71 | 6.78 | 11.24 | 8.75 |
| Pretax Income | - | 38.73 | 40.81 | 14.34 | 47.21 |
| Tax Provision | - | 17.54 | 18.17 | 11.62 | 12.96 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 21.19 | 22.64 | 2.72 | 34.25 |
| Net Income From Continuing And Discontinued Operation | - | 21.19 | 22.64 | 2.72 | 34.25 |
| Net Income From Continuing Operation Net Minority Interest | - | 21.19 | 22.64 | 2.72 | 34.25 |
| Net Income | - | 21.19 | 22.64 | 2.72 | 34.25 |
| Net Income Common Stockholders | - | 21.19 | 22.64 | 2.72 | 34.25 |
| Net Income Including Noncontrolling Interests | - | 21.19 | 22.64 | 2.72 | 34.25 |
| Normalized Income | - | 21.19 | 22.64 | 2.72 | 34.25 |
| Diluted NI Availto Com Stockholders | - | 21.19 | 22.64 | 2.72 | 34.25 |
| Basic Average Shares | 159.18 | 165.27 | 168.07 | 169.20 | - |
| Diluted Average Shares | 159.18 | 187.55 | 182.41 | 180.10 | - |
| Reconciled Depreciation | - | 1.92 | 2.94 | 6.69 | 9.04 |
| Reconciled Cost Of Revenue | - | 151.38 | 168.68 | 179.94 | 211.26 |
| General And Administrative Expense | - | 120.65 | 140.68 | 142.88 | 142.74 |
| Other Gand A | - | 120.65 | 140.68 | 142.88 | 142.74 |
| Selling And Marketing Expense | - | 196.14 | 202.24 | 230.48 | 238.96 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| FIGS, Inc.this co. | FIGS | $2.0B | 57.06↑ premium | 4.47 | 7.8% | 40.96 |
| Capri Holdings Limited | CPRI | $2.2B | 15.83 | 27.11 | 171.3% | 17.36 |
| Six Flags Entertainment Corporation | FUN | $2.2B | -1.40 | 3.94 | -281.8% | -8.62 |
| Brightstar Lottery PLC | BRSL | $2.1B | 14.48 | 2.43 | 16.8% | 5.24 |
| Driven Brands Holdings Inc. | DRVN | $2.1B | 15.17 |
| - |
| - |
| - |
| 2.77 |
| 18.3% |
| 11.93 |
| Albany International Corp. | AIN | $1.9B | -33.97 | 2.68 | -7.9% | 44.38 |
| United Parks & Resorts Inc. | PRKS | $1.9B | 11.42 | -4.41 | -38.6% | 7.79 |
| Kohl's Corporation | KSS | $1.8B | 6.59 | 0.44 | 6.7% | 5.85 |
| Adient plc | ADNT | $1.8B | -6.37 | 1.01 | -15.9% | 7.37 |
| Peer Median | - | 9.00 | 2.56 | -0.6% | 7.58 | |