FIGS (FIGS) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and FIGS published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• FIGS reports GAAP diluted EPS only; its non-GAAP measures are adjusted EBITDA and adjusted EBITDA margin. Nine-month 2026 results include $17.4 million of IEEPA tariff refunds booked as lower cost of goods sold.

Source: FIGS Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How FIGS splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• FIGS's Scrubwear revenue was $158 million in Q3 2026, up 24% from $127 million in Q3 2025, 83% of total revenue.
• FIGS's Non-Scrubwear revenue was $33.2 million in Q3 2026, up 35% from $24.6 million in Q3 2025, 17% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

FIGS gives its outlook as a short table. It also guides full-year 2026 adjusted EBITDA margin (a non-GAAP measure) to approximately 15.8%.

In its Q3 2026 release, FIGS said:

“Net Revenues growth vs. 2025 Q4 up ~15%; FY up ~23.5%”

“The overall strength of these results, together with our increased conviction in Q4, leads us to raise our full year net revenues and adjusted EBITDA margin outlooks.”

Source: FIGS Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the FIGS forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Net revenues and diluted earnings per share, each as first reported in that quarter's release.

We do not hold a confirmed date for FIGS's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

FIGS, a direct-to-consumer healthcare apparel brand, reported Q3 2026 net revenues of $190.7 million, up 25.7%. FIGS attributed the growth primarily to more orders and a higher average order value, and the CEO said it was the fourth straight quarter of more than 25% growth. (FIGS Q3 2026 release, Nov 5, 2026)

Scrubs are most of the business. Scrubwear net revenues were $157.5 million, up 24.0%, and non-scrubwear, which covers FIGS' other apparel and products, was $33.2 million, up 34.6%. (FIGS Q3 2026 release, Nov 5, 2026)

International sales are growing faster than the US. US net revenues were $153.9 million, up 20.8%, and rest-of-world net revenues $36.8 million, up 51.4%. (FIGS Q3 2026 release, Nov 5, 2026)

Both customer count and spending rose. Active customers, accounts that bought at least once in the past 12 months, rose 14.3% to 3.2 million, and net revenues per active customer rose 12.9% to $236. Average order value was $126, up 10.5%, on higher average unit retail from pricing and product mix and on lower discount and return rates. (FIGS Q3 2026 release, Nov 5, 2026)

Gross margin was 69.3%, down 60 basis points. FIGS said the prior year had outsized improvements in returns processing and this quarter carried higher inventory reserves, partly offset by price increases and efficiency efforts. (FIGS Q3 2026 release, Nov 5, 2026)

FIGS earned diluted EPS of $0.10 in Q3 2026, against $0.05, on net income of $19.3 million, a net income margin of 10.1% against 5.8%. FIGS reports no adjusted EPS. Its non-GAAP measure, adjusted EBITDA, adds back taxes, depreciation, stock-based compensation and related expense ($7.0 million) and backs out other income; it was $31.5 million, a margin of 16.5% against 12.4%. (FIGS Q3 2026 release, Nov 5, 2026)

Operating leverage drove the gain. Operating expenses rose 13.9% to $109.9 million, slower than revenue, falling to 57.6% of net revenues from 63.6%. Selling expense was $44.4 million, marketing $25.5 million and general and administrative $40.0 million. (FIGS Q3 2026 release, Nov 5, 2026)

Diluted weighted-average shares were 193,275,680, against 180,875,933, while basic shares were 165,995,498. FIGS repurchased 985,622 shares for approximately $13.8 million in the quarter; in August 2026 its board raised the buyback authorization to $200.0 million in total, with approximately $105.3 million left at September 30, 2026. (FIGS Q3 2026 release, Nov 5, 2026; FIGS Form 10-Q, Q3 2026, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

FIGS gives a short outlook table in its release. With Q3 2026 results it guided Q4 net revenues up about 15% from Q4 2025 and full-year 2026 net revenues up about 23.5%, with full-year adjusted EBITDA margin of approximately 15.8%. The CFO said both the revenue and adjusted EBITDA margin outlooks were raised. (FIGS Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover FIGS, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones FIGS's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning FIGS is on is FIGS a buy or a sell?, what analysts expect next is on the FIGS forecast, and what the company does is on the FIGS (FIGS) stock page.

Every number on this page can be traced to a document FIGS published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.