Equity Profile

FIGS

FIGS, Inc.

Consumer DiscretionaryApparel, Accessories & Luxury Goods$2.5B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

FIGS, Inc. is a company that specializes in designing and selling high-quality medical scrubs and apparel....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

$0.04

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and attract new customers, crucial for long-term success.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

FIGS Q2-2026 Earnings Preview

Context

Company Snapshot

FIGS, Inc. is a company that specializes in designing and selling high-quality medical scrubs and apparel. As part of the consumer discretionary sector, FIGS is influenced by trends in healthcare spending and consumer preferences for comfortable, stylish workwear.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+140.61%

Avg Stock Reaction

+3.75%

Last Quarter Recap

In Q1 2026, FIGS reported an EPS of $0.03, exceeding expectations by 130.77%. The stock reacted positively, gaining 6% the next day.

Management Promises & Guidance

Continue to innovate product offerings to meet customer demands.
Focus on expanding market presence and brand awareness.
Maintain cost control measures to enhance profitability.

Expectations

Wall Street Expectations

Overall, expectations for FIGS are cautiously optimistic, especially given its strong track record of beating EPS estimates.

Bull Case

If FIGS continues its trend of exceeding EPS estimates, it could see significant stock price appreciation, driven by positive investor sentiment.

Bear Case

Conversely, if FIGS fails to meet expectations or shows signs of slowing growth, the stock could face downward pressure.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.04

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its market share and attract new customers, crucial for long-term success.

Gross Margin

N/A

Gross margin indicates how efficiently the company is producing its products and managing costs, impacting overall profitability.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2 2026?

Given FIGS' history of beating EPS estimates, the market will closely watch this figure to gauge ongoing profitability.

How is FIGS managing its production costs and gross margins?

Understanding cost management strategies will be crucial for assessing the company's ability to maintain profitability amidst potential economic pressures.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate FIGS' ability to maintain its growth trajectory despite economic challenges, as the brand's appeal in the healthcare sector remains strong.

Supporting Evidence

FIGS has consistently beaten EPS estimates, indicating stronger-than-expected demand.

The options market is pricing in a significant move, suggesting that investors anticipate volatility that could favor the stock.

Historical performance shows that FIGS has a strong track record of positive reactions to earnings beats.

Key Risk

If EPS comes in below $0.03, it could challenge the narrative of sustained growth.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus is on whether FIGS can sustain its impressive EPS growth while managing costs effectively.

Bull Confirmed If

An EPS of $0.05 or higher would confirm the bull case and suggest strong demand for FIGS' products.

Bear Confirmed If

An EPS below $0.03 would raise concerns about the company's growth trajectory and profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±30.82%

Historical Avg

±4.5%

Pricing rich

The options market is pricing in a significant potential price movement, indicating that investors expect volatility around the earnings report.

Options are pricing ±30.8% while FIGS has averaged ±4.5% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

98.6%

Calls (21K)P/C Ratio: 0.73Puts (2K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Consumer Discretionary

n=30

Fade rate: 8 of 21 (38%)

This setup has occurred 30 times across Consumer Discretionary in the last 2 years. 13 of 21 (62%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 4.9%, with a raw directional average of +2.2% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If FIGS beats expectations, history suggests the stock could rise by an average of 3.79%, confirming strong market confidence.

In-Line / Cautious

If results are in line but management is cautious, the stock may experience muted movement as investors reassess future growth.

Miss

A miss could lead to a decline in stock price, potentially averaging a drop of around 4.47% based on historical patterns.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product launches or expansions into new markets.
2Insights into customer demand trends and how they are affecting sales.
3Management's perspective on cost control measures and their impact on margins.
4Discussion on competitive landscape and how FIGS is positioning itself.
5Any commentary on supply chain challenges and how they are being addressed.

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Company Snapshot

FIGS, Inc. is a company that specializes in designing and selling high-quality medical scrubs and apparel....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

$0.04

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and attract new customers, crucial for long-term success.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

FIGS Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+140.61%

Avg Stock Reaction

+3.75%

Last Quarter Recap

In Q1 2026, FIGS reported an EPS of $0.03, exceeding expectations by 130.77%. The stock reacted positively, gaining 6% the next day.

Management Promises & Guidance

Continue to innovate product offerings to meet customer demands.
Focus on expanding market presence and brand awareness.
Maintain cost control measures to enhance profitability.

Expectations

Wall Street Expectations

Overall, expectations for FIGS are cautiously optimistic, especially given its strong track record of beating EPS estimates.

Bull Case

If FIGS continues its trend of exceeding EPS estimates, it could see significant stock price appreciation, driven by positive investor sentiment.

Bear Case

Conversely, if FIGS fails to meet expectations or shows signs of slowing growth, the stock could face downward pressure.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.04

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its market share and attract new customers, crucial for long-term success.

Gross Margin

N/A

Gross margin indicates how efficiently the company is producing its products and managing costs, impacting overall profitability.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2 2026?

Given FIGS' history of beating EPS estimates, the market will closely watch this figure to gauge ongoing profitability.

How is FIGS managing its production costs and gross margins?

Understanding cost management strategies will be crucial for assessing the company's ability to maintain profitability amidst potential economic pressures.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate FIGS' ability to maintain its growth trajectory despite economic challenges, as the brand's appeal in the healthcare sector remains strong.

Supporting Evidence

FIGS has consistently beaten EPS estimates, indicating stronger-than-expected demand.

The options market is pricing in a significant move, suggesting that investors anticipate volatility that could favor the stock.

Historical performance shows that FIGS has a strong track record of positive reactions to earnings beats.

Key Risk

If EPS comes in below $0.03, it could challenge the narrative of sustained growth.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus is on whether FIGS can sustain its impressive EPS growth while managing costs effectively.

Bull Confirmed If

An EPS of $0.05 or higher would confirm the bull case and suggest strong demand for FIGS' products.

Bear Confirmed If

An EPS below $0.03 would raise concerns about the company's growth trajectory and profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±30.82%

Historical Avg

±4.5%

Pricing rich

The options market is pricing in a significant potential price movement, indicating that investors expect volatility around the earnings report.

Options are pricing ±30.8% while FIGS has averaged ±4.5% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

98.6%

Calls (21K)P/C Ratio: 0.73Puts (2K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Consumer Discretionary

n=30

Fade rate: 8 of 21 (38%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If FIGS beats expectations, history suggests the stock could rise by an average of 3.79%, confirming strong market confidence.

In-Line / Cautious

If results are in line but management is cautious, the stock may experience muted movement as investors reassess future growth.

Miss

A miss could lead to a decline in stock price, potentially averaging a drop of around 4.47% based on historical patterns.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product launches or expansions into new markets.
2Insights into customer demand trends and how they are affecting sales.
3Management's perspective on cost control measures and their impact on margins.
4Discussion on competitive landscape and how FIGS is positioning itself.
5Any commentary on supply chain challenges and how they are being addressed.