FIGS, Inc. (FIGS) Stock Price & How to Invest
Last updated July 2026
Short answer
You can invest in FIGS, Inc. (FIGS) by buying shares or fractional shares at any major US broker, through a consumer-discretionary or small-cap ETF that holds it, or as one holding in a thematic basket. FIGS is a direct-to-consumer healthcare apparel brand best known for premium medical scrubs, plus lab coats, underscrubs, outerwear, and footwear sold mostly online to nurses, doctors, and other clinicians. The single most important thing to understand is that this is a brand-led growth story in a category historically dominated by cheap, commoditized uniforms: the thesis rests on FIGS turning a loyal, repeat customer base and a newer institutional (B2B) channel into durable, profitable growth, while the risk is that scrubs are ultimately a discretionary, competitive apparel market.
FIGS stock price
As of 2026-07-14, FIGS, Inc. (FIGS) last closed at $9.86, up 63.9% over the past year. Over the past 52 weeks it has traded between $5.81 and $17.12.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or FIGS, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does FIGS, Inc. (FIGS) do?
FIGS, Inc. is a healthcare apparel company that designs and sells premium medical scrubs and related products directly to healthcare professionals, mostly through its own website and app. The core product is scrubwear (tops and pants engineered for comfort, fit, and durability), supplemented by lab coats, underscrubs, outerwear, activewear, footwear, and accessories. FIGS built its business as a digitally native, direct-to-consumer brand: it markets to individual clinicians, cultivates repeat purchases and community, and captures the full retail margin by skipping traditional uniform-shop middlemen. That model let it take meaningful share of the branded scrub market and lead the premium, direct-to-consumer segment in the United States, while expanding internationally.
The mid-2026 investment picture is one of reacceleration and improving profitability. Full-year 2025 net revenues grew about 13.6% to roughly $631 million, with scrubwear and international both growing double digits and net income improving to around $34 million. Growth accelerated sharply into late 2025 and 2026: Q4 2025 revenue rose about 33% year over year, Q1 2026 rose about 28% to roughly $160 million, and the company surpassed three million active customers for the first time. FIGS has also leaned into an institutional B2B channel (its TEAMS platform) that sells directly to hospitals and health systems, broadening beyond the individual-clinician model. For 2026 the company has guided to roughly 10% to 12% revenue growth, signaling continued expansion off a larger base.
What's driving FIGS, Inc. (FIGS)?
1. Reaccelerating core scrubwear and repeat demand
FIGS' foundation is a loyal, growing base of clinicians who reorder scrubs and add adjacent products over time. After a slower stretch, revenue growth reaccelerated meaningfully into late 2025 and 2026, and the company crossed three million active customers. Because scrubs are a work uniform worn daily and replaced regularly, a strong brand can convert first purchases into a durable, repeat-revenue relationship, which is the heart of the bull case.
2. Institutional B2B (TEAMS) channel
FIGS has expanded beyond selling to individual professionals toward selling directly to hospitals and health systems through its institutional TEAMS platform. Large healthcare employers buying branded apparel in volume could open a bigger, stickier addressable market than one-off consumer orders. Success here would diversify revenue away from pure direct-to-consumer demand and give FIGS a foothold in the traditional uniform-contract channel it originally disrupted.
3. International and product-line expansion
International revenue has been growing faster than the overall business, giving FIGS a long runway outside the United States where the premium-scrub category is less developed. The company also keeps widening its product range beyond core scrubs into lab coats, underscrubs, outerwear, footwear, and lifestyle items, raising the potential spend per customer. Both levers let FIGS grow without relying solely on adding new domestic clinicians.
4. Brand strength and margin profile
FIGS commands premium pricing and full retail margins because it sells its own brand directly rather than through wholesalers. That supports gross margins well above commodity uniform makers and, as the business scales, improving net margins (net income margin expanded notably in 2025). A strong, community-driven brand is a genuine moat in apparel, and disciplined marketing spend against loyal repeat buyers is what can turn top-line growth into rising profit.
What are the risks to FIGS, Inc. (FIGS)?
The central risk is that FIGS sells discretionary apparel in a competitive category. Scrubs face price competition from legacy uniform makers and a growing field of premium and value direct-to-consumer challengers, so market share and pricing power are never guaranteed. As a small-cap consumer stock, FIGS is sensitive to swings in discretionary spending, promotional intensity, freight and input costs, and inventory management, any of which can pressure margins. Growth has been uneven historically, so the recent reacceleration must prove durable rather than a one-off. The newer institutional (TEAMS) channel is still unproven at scale and carries different economics and sales cycles than direct-to-consumer. Founder-led governance and a dual-class-style ownership structure can concentrate control, and the stock has been volatile, trading well off its post-IPO highs. Any slowdown back toward low-single-digit growth would challenge the premium the market assigns a growth brand.
How is FIGS, Inc. (FIGS) valued? (approximate, Jul 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see FIGS, Inc.'s investor relations page or your broker.
- Revenue trend: Reaccelerating: FY2025 net revenues ~$631M (up ~13.6%), with Q4 2025 up ~33% and Q1 2026 up ~28% to ~$160M year over year
- Profitability: Profitable and improving: FY2025 net income ~$34M with net margin ~5.4%; Q4 2025 net margin expanded to ~9%. Gross margins are high for apparel given the direct-to-consumer, own-brand model
- Growth guidance: Company guided full-year 2026 net revenue growth of roughly 10% to 12% versus 2025
- Balance sheet / leverage: Generally described as a cash-generative, low-debt balance sheet typical of an asset-light apparel brand; verify current cash and any debt live
- Valuation: Trades as a small-cap growth consumer name; multiples reflect growth-reacceleration expectations rather than a value profile. Verify current market cap and earnings multiples live
- Analyst sentiment: Estimates rose over 2025-2026 as growth reaccelerated; sentiment is mixed between growth optimists and skeptics on durability and competition
These figures are approximate and tied to the asOf date; verify live numbers before acting. FIGS is a small-cap consumer growth stock, so its valuation hinges on whether the recent reacceleration and the institutional channel prove durable rather than on any single quarter. Treat revenue-growth and margin trends as the key signals, and confirm the latest quarterly results and full-year guidance directly.
Who competes with FIGS, Inc. (FIGS)?
Premium direct-to-consumer scrub brands
Jaanuu is the closest premium, digitally native rival, competing on fashion-forward design in the same direct-to-consumer segment FIGS leads. Emerging value-and-style challengers such as Mandala and Fabletics Scrubs also target FIGS-like aesthetics at lower price points, pressuring the premium end of the market.
Legacy and multi-brand uniform makers
Careismatic Brands (owner of Cherokee, Dickies Medical, Infinity, and Medelita) and Barco Uniforms (known for Grey's Anatomy by Barco) lead on volume, wholesale distribution, and retail penetration. Landau Uniforms is another long-established supplier. These players compete mainly on price and wide physical distribution rather than premium brand.
Broad apparel and athleisure crossovers
FIGS also competes for clinician spend with general activewear and athleisure brands whose comfort-focused products blur into workwear, and with mass retailers selling low-cost scrubs. This broader field is a reminder that healthcare apparel is ultimately part of the larger, discretionary apparel market rather than a protected niche.
How to invest in FIGS, Inc. (FIGS)
There are three common ways to get FIGS exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so FIGS sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where FIGS fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on FIGS, Inc. (FIGS)
FIGS is a founder-built, brand-driven apparel grower reaccelerating in 2025 and 2026 on scrubwear, international, and a new institutional channel, with real profitability. But it is a small-cap consumer stock in a competitive, discretionary category, so growth durability and margins matter more than the brand story alone.
Build a basket around FIGS with Walnut
Use FIGS, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
Is FIGS a good stock to buy right now?
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That depends on your goals, time horizon, and risk tolerance, and this is not investment advice. The bull case is a reaccelerating brand with growing scrubwear, international, and a new institutional channel, plus improving profitability and three million-plus active customers. The bear case is that FIGS is a small-cap discretionary apparel stock in a competitive category with a history of uneven growth. Weigh both against your portfolio and do your own research.
What does FIGS actually do?
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FIGS designs and sells premium healthcare apparel, led by medical scrubs and including lab coats, underscrubs, outerwear, footwear, and accessories. It sells mostly directly to individual healthcare professionals through its own website and app, and increasingly to hospitals and health systems through an institutional channel. It is a brand-led apparel company, not a medical-device or services business.
How does FIGS make money?
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FIGS sells its own-brand apparel directly to consumers, capturing the full retail margin by largely skipping traditional uniform-shop wholesalers. Revenue comes mainly from repeat scrub purchases by a loyal clinician base, plus expanding product lines, international sales, and a growing institutional (TEAMS) channel that sells to healthcare employers in volume.
Is FIGS growing?
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Yes, and growth reaccelerated recently. Full-year 2025 net revenues rose about 13.6% to roughly $631 million, with Q4 2025 up about 33% and Q1 2026 up about 28% year over year. The company surpassed three million active customers and guided to roughly 10% to 12% revenue growth for full-year 2026. Verify the latest results directly.
What is the TEAMS institutional channel?
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TEAMS is FIGS' institutional B2B platform that sells apparel directly to hospitals and health systems rather than to individual clinicians. It broadens FIGS beyond its direct-to-consumer roots into the traditional uniform-contract market. It is a growth opportunity but still unproven at scale, with different economics and longer sales cycles than consumer orders.
Does FIGS pay a dividend?
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FIGS has generally reinvested in growth rather than paying a regular dividend, which is typical for a younger, growth-oriented consumer brand. Investors have owned it for potential share-price appreciation, not income. Always check the company's latest capital-return policy before assuming any dividend, as plans can change.
Who are FIGS' main competitors?
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In the premium direct-to-consumer segment, Jaanuu is the closest rival, with value challengers like Mandala and Fabletics Scrubs also emerging. On the legacy side, Careismatic Brands (Cherokee, Dickies Medical), Barco Uniforms (Grey's Anatomy by Barco), and Landau Uniforms compete on volume, price, and wholesale distribution.
What are the main risks of investing in FIGS?
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FIGS sells discretionary apparel in a competitive category, so market share, pricing power, and margins are never guaranteed. As a small-cap consumer stock it is sensitive to discretionary-spending swings, promotions, freight and input costs, and inventory. Growth has been uneven historically, and the newer institutional channel is unproven at scale. Founder-concentrated control and share-price volatility add further risk.
How can I get exposure to FIGS through an ETF?
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FIGS can appear in broad consumer-discretionary, small-cap, and apparel or retail ETFs, usually as a small position among many holdings. ETF exposure spreads single-stock risk but dilutes how much any FIGS move affects you. Always check a fund's holdings and weighting before assuming meaningful exposure to FIGS specifically.
Why has FIGS stock been volatile?
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FIGS is a small-cap consumer growth stock, and such names swing sharply on quarterly growth rates, margin trends, and sentiment about competition and discretionary spending. The stock has traded well off its post-IPO highs as growth slowed and then reaccelerated. Small floats, founder-concentrated ownership, and high growth expectations all amplify the moves.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with FIGS, Inc.'s investor relations page or your broker before making investment decisions.