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Jun 30
FIGS Q2 2025 Earnings Report
FIGS reported strong second quarter 2025 financial results, exceeding expectations on both top and bottom lines, driven by record revenue and improved profitability.
Key Takeaways
FIGS delivered its largest revenue quarter in history, with net revenues growing 5.8% year-over-year to $152.6 million. The company achieved a net income margin of 4.7% and an adjusted EBITDA margin of 12.9%, demonstrating strong execution and profitability. This performance has led to an increased full-year 2025 outlook.
Net revenues increased by 5.8% year-over-year, reaching $152.6 million, marking the largest revenue quarter in company history.
Net income margin improved significantly to 4.7%, and adjusted EBITDA margin reached 12.9%, indicating strong profitability.
The company's strategic focus on product merchandising and impactful marketing contributed to strong execution and results ahead of expectations.
FIGS is increasing its full-year 2025 financial outlook, reflecting growing confidence in its customer funnel and core business acceleration.
FIGS
FIGS
FIGS Revenue by Segment
FIGS Revenue by Geographic Location
Revenue by Segment
Scrubwear Revenue
CapyFin.comNon-Scrubwear Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comRest of the World Revenue
CapyFin.com Forward Guidance
FIGS is increasing its full-year 2025 financial outlook, projecting low-single-digit net revenue growth and an adjusted EBITDA margin between 8.5% and 9.0%.
Positive Outlook
- Increased confidence in the full-year outlook.
- Heightened focus on reinvigorating the customer funnel.
- Acceleration of growth in the core business.
- Strong year-to-date demand.
- Early success in cost mitigation efforts.
Challenges Ahead
- The company has not provided a quantitative reconciliation of its adjusted EBITDA margin outlook to a GAAP net income margin outlook due to the variability and uncertainty of certain reconciling items.
- Future stock-based compensation expense is inherently variable and uncertain.
- Future income taxes are inherently variable and uncertain.
- Expenses related to non-ordinary course disputes are inherently variable and uncertain.
- Transaction costs are inherently variable and uncertain.
Revenue & Expenses
Visualization of income flow from segment revenue to net income