Post-earnings recap
Reported
Thu, Aug 6, 2026
EPS actual
$0.15
EPS est.
$0.07
EPS surprise
+123.88%
1-day move
+2.93%
FIGS' strong earnings report, highlighted by a significant EPS beat and robust revenue growth, has led to a positive stock reaction, with shares rising nearly 3%. The company is successfully expanding its customer base and increasing average order values, which bodes well for future performance. Additionally, the new share buyback program indicates management's confidence in the company's strategy and financial health.
| Metric | Actual | Expected | Surprise |
|---|---|---|---|
| EPS | $0.15 | N/A | +123.88% |
| Revenue | $196.6 million | N/A | N/A |
| Active Customers | 3.1 million | N/A | +13% |
| Average Order Value | $127 | N/A | N/A |
| International Revenue Growth | 67% | N/A | N/A |
Management expressed confidence in the company's growth trajectory, highlighting significant increases in both revenue and active customers. They also noted the successful adaptation to supply chain challenges.
We are pleased with our strong revenue growth and customer expansion.
The new share buyback authorization reflects our confidence in the business.
—
Est. EPS
$1.48
Est. Rev
$3.3B
Impl. Move
±16.9%
FIGS, Inc. is a company in the consumer discretionary sector that specializes in high-quality medical scrubs and apparel. With a focus on comfort and style, FIGS aims to cater to healthcare professionals, making their products relevant amid ongoing trends in healthcare spending and workforce wellbeing.
Last quarter
In Q1 2026, FIGS reported an EPS of $0.03, significantly beating expectations by 130.77%. The stock reacted positively, gaining 6% the following day.
Management promises and guidance
EPS beat streak
8Q
EPS beat rate
100%
Avg EPS surprise
+156.10%
Avg 1-day reaction
+3.69%
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 maintain its growth trajectory and deliver strong revenue figures, it may see significant stock appreciation, especially given its history of positive surprises.
Bear case
Conversely, any signs of slowing growth or disappointing margins could lead to a sharp decline in stock price, particularly given the high implied volatility in the options market.
Key metrics to watch
Earnings Per Share (EPS)
$0.03EPS is a key indicator of profitability, and investors will be keen to see if FIGS continues its trend of beating expectations.
Revenue Growth
N/AWhile specific revenue estimates are not available, growth in this area will indicate the company's ability to expand its market share and attract new customers.
The print will turn on these.
Q1
What will be the EPS for Q2-2026?
Given FIGS' history of beating EPS estimates, this number will be crucial for investor sentiment and stock performance.
Q2
How is the company managing its gross margins?
Margins are critical for profitability, and any changes could impact future earnings and investor confidence.
Why consensus could be wrong
The Street may be underestimating FIGS' ability to maintain its growth trajectory, especially given its recent strong performance and brand loyalty among healthcare professionals.
Supporting evidence
FIGS has consistently beaten EPS estimates, indicating strong operational execution.
The options market is pricing in a large move, suggesting that investors are bracing for significant news.
The company's focus on innovation and customer engagement could drive further growth.
Key risk
If the EPS comes in below $0.02, it could challenge the current bullish sentiment.
Pre-commit to what would confirm each case.
The core debate this quarter revolves around whether FIGS can sustain its impressive earnings growth amid market challenges.
Bull confirmed if
An EPS of $0.04 or better would confirm the bullish outlook and suggest continued strong performance.
Bear confirmed if
An EPS below $0.02 would support the bearish case, indicating potential issues with growth or profitability.
What the market is pricing for the move.
Implied Move
±30.82%
Historical Avg
±4.4%
The options market is pricing in a significant potential move in either direction, indicating uncertainty around the upcoming earnings report.
Options are pricing ±30.8% while FIGS has averaged ±4.4% over the last 8 prints — setup is pricing rich.
ATM IV
0.6%
30d HV
98.6%
Cross-company pattern from 30 similar setups.
Prior-quarter beat + options rich in Consumer Discretionary
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).
Smart-money positioning from the most recent 13F filings.
Institutional
99.83%
of float
Insider
4.55%
of float
Holders
336
institutions
Top Holders· as of Jun 2026
BAMCO Inc.
59,959,449 sh · $843.0M
37.98%
Flat
Likely market behavior by outcome. Not investment advice.
Beat & raise
If FIGS beats expectations, history suggests the stock could rise by around 3.79%, confirming the strength of its business model.
In line / cautious
If results are in line but management is cautious, the stock may see a muted reaction as investors reassess growth prospects.
Miss
A miss could lead to a decline, with historical data suggesting an average drop of around 0.79% following disappointing results.
The lines on the call that would change the story.
Gross Margin
N/AGross margin reflects the efficiency of production and pricing strategy, which is crucial for maintaining profitability in a competitive market.
Blackrock Inc.
8,543,033 sh · $120.1M
5.41%
9.0%
Driehaus Capital Management, LLC
5,161,238 sh · $72.6M
3.27%
23.6%
Vanguard Capital Management LLC
4,671,174 sh · $65.7M
2.96%
2.7%
Vanguard Portfolio Management LLC
4,392,854 sh · $61.8M
2.78%
7.3%
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.