Equity Profile

FIGS

FIGS, Inc.

Consumer DiscretionaryApparel, Accessories & Luxury Goods$1.7B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

FIGS, Inc. is a direct-to-consumer apparel company specializing in medical scrubs and healthcare apparel....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well FIGS is managing costs and generating income.

N/A

Revenue Growth

Revenue growth is crucial for assessing the company's ability to expand its market share and attract new customers.

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 direct-to-consumer apparel company specializing in medical scrubs and healthcare apparel. As a player in the consumer discretionary sector, FIGS benefits from trends in healthcare spending and the growing demand for high-quality, stylish workwear among medical professionals.

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, significantly beating expectations. The stock reacted positively, gaining 6% the following day.

Management Promises & Guidance

Maintain profitability through cost management.
Continue expanding product offerings in the healthcare apparel market.
Enhance customer engagement through improved digital marketing strategies.

Expectations

Wall Street Expectations

Overall, expectations are cautiously optimistic as FIGS has consistently beaten EPS estimates in recent quarters. Investors are looking for continued growth and profitability.

Bull Case

If FIGS can deliver strong revenue growth and maintain or improve its gross margins, it could lead to a significant stock price increase.

Bear Case

Conversely, if revenue growth slows or costs increase unexpectedly, it could raise concerns about the company's future profitability and lead to a negative stock reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

Given FIGS' strong EPS surprises in previous quarters, this number will be crucial for investor confidence and stock performance.

How is revenue growth trending compared to previous quarters?

Understanding revenue growth will help gauge the company's market position and ability to attract new customers.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate FIGS' ability to sustain its growth due to its unique brand positioning and customer loyalty in the healthcare sector.

Supporting Evidence

FIGS has consistently beaten EPS estimates, indicating strong operational execution.

The options market is pricing a larger move than historical averages, suggesting potential for a significant reaction.

The company's focus on high-quality, stylish scrubs aligns with increasing consumer spending in the healthcare sector.

Key Risk

If revenue growth exceeds expectations, it could challenge the cautious outlook currently held by analysts.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will be critical in determining whether FIGS can sustain its growth trajectory amidst competitive pressures.

Bull Confirmed If

EPS growth exceeding $0.04 would confirm strong operational performance and investor confidence.

Bear Confirmed If

Any EPS below $0.02 could signal potential issues in profitability or cost management.

Pre-Earnings Positioning

Options Market

Implied Move

±30.82%

Historical Avg

±4.5%

Pricing rich

The options market is pricing in a significant potential move, indicating heightened volatility expectations 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 a potential stock increase of around 3.79%, confirming strong operational momentum.

In-Line / Cautious

If results are in line but management expresses caution, the stock may see muted movement as investors reassess growth prospects.

Miss

A miss could lead to a decline, with history suggesting an average drop of around 0.79% following disappointing results.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on revenue growth trends and customer acquisition strategies.
2Updates on new product launches and market expansion plans.
3Insights into cost management and gross margin expectations.
4Any commentary on competitive pressures in the healthcare apparel market.
5Management's outlook on future earnings and market conditions.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

FIGS, Inc. is a direct-to-consumer apparel company specializing in medical scrubs and healthcare apparel....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well FIGS is managing costs and generating income.

N/A

Revenue Growth

Revenue growth is crucial for assessing the company's ability to expand its market share and attract new customers.

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, significantly beating expectations. The stock reacted positively, gaining 6% the following day.

Management Promises & Guidance

Maintain profitability through cost management.
Continue expanding product offerings in the healthcare apparel market.
Enhance customer engagement through improved digital marketing strategies.

Expectations

Wall Street Expectations

Overall, expectations are cautiously optimistic as FIGS has consistently beaten EPS estimates in recent quarters. Investors are looking for continued growth and profitability.

Bull Case

If FIGS can deliver strong revenue growth and maintain or improve its gross margins, it could lead to a significant stock price increase.

Bear Case

Conversely, if revenue growth slows or costs increase unexpectedly, it could raise concerns about the company's future profitability and lead to a negative stock reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

Given FIGS' strong EPS surprises in previous quarters, this number will be crucial for investor confidence and stock performance.

How is revenue growth trending compared to previous quarters?

Understanding revenue growth will help gauge the company's market position and ability to attract new customers.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate FIGS' ability to sustain its growth due to its unique brand positioning and customer loyalty in the healthcare sector.

Supporting Evidence

FIGS has consistently beaten EPS estimates, indicating strong operational execution.

The options market is pricing a larger move than historical averages, suggesting potential for a significant reaction.

The company's focus on high-quality, stylish scrubs aligns with increasing consumer spending in the healthcare sector.

Key Risk

If revenue growth exceeds expectations, it could challenge the cautious outlook currently held by analysts.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will be critical in determining whether FIGS can sustain its growth trajectory amidst competitive pressures.

Bull Confirmed If

EPS growth exceeding $0.04 would confirm strong operational performance and investor confidence.

Bear Confirmed If

Any EPS below $0.02 could signal potential issues in profitability or cost management.

Pre-Earnings Positioning

Options Market

Implied Move

±30.82%

Historical Avg

±4.5%

Pricing rich

The options market is pricing in a significant potential move, indicating heightened volatility expectations 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 a potential stock increase of around 3.79%, confirming strong operational momentum.

In-Line / Cautious

If results are in line but management expresses caution, the stock may see muted movement as investors reassess growth prospects.

Miss

A miss could lead to a decline, with history suggesting an average drop of around 0.79% following disappointing results.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on revenue growth trends and customer acquisition strategies.
2Updates on new product launches and market expansion plans.
3Insights into cost management and gross margin expectations.
4Any commentary on competitive pressures in the healthcare apparel market.
5Management's outlook on future earnings and market conditions.