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Figs cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$51.2M in Q3 2026 · $148M over twelve months

Operating cash flow$56.9M
Capital spending−$5.7M
Free cash flow+$51.2M
Cash / net income2.9×
Cash conversion cycle174 days

Analysis

In Q3 2026, Figs generated $56.9M of operating cash flow and spent $5.7M on capital projects, leaving free cash flow of $51.2M. That is $50.6M more than in Q3 2025 ($531K).

Over the twelve months to Sep 30, 2026, operating cash flow was $161M; the largest uses were other investing ($59.6M), buybacks ($46.6M), capital spending ($13.6M); besides operations, cash came from shares issued ($1.7M), other financing ($1K); the cash balance rose by $30.0M.

Operating cash flow was $56.9M against net income of $19.3M — 2.9× profit, cash ran ahead of reported earnings. The largest differences: receivables +$15.8M, stock-based pay +$7.4M, payables +$5.7M.

Its cash conversion cycle was 174 days (receivables 3 + inventory 189 − payables 18).

Free cash flow

Figs: free cash flow by quarterFigs: free cash flow by quarter$27.1MQ4 2024$7.9MQ1 2025−$13.5MQ2 2025$531KQ3 2025$58.1MQ4 2025−$5.6MQ1 2026$44.3MQ2 2026$51.2MQ3 2026
Operating cash flow less capital spending.
Figs: operating cash flow against capital spendingFigs: operating cash flow against capital spendingOperating cash flowCapital spending$30.4M$3.4MQ4 2024$9.2M$1.3MQ1 2025−$12.4M$1.1MQ2 2025$3.4M$2.9MQ3 2025$60.9M$2.9MQ4 2025−$3.2M$2.4MQ1 2026$46.9M$2.6MQ2 2026$56.9M$5.7MQ3 2026
Latest (Q3 2026): Operating cash flow $56.9M, Capital spending $5.7M.

Capital allocation, year by year

Figs: where the cash came from (up) and went (down), by fiscal yearFigs: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingBuybacksFY2021: Operating cash flow $66.4MFY2021: Shares issued $96.8MFY2021: Capital spending −$2.7M$163MFY2021FY2022: Operating cash flow −$35.3MFY2022: Shares issued $3.0MFY2022: Capital spending −$5.3M$3.0MFY2022FY2023: Operating cash flow $101MFY2023: Shares issued $916KFY2023: Capital spending −$16.3M$102MFY2023FY2024: Operating cash flow $81.2MFY2024: Shares issued $688KFY2024: Capital spending −$17.0MFY2024: Buybacks −$45.5M$81.8MFY2024FY2025: Operating cash flow $61.2MFY2025: Shares issued $1.7MFY2025: Capital spending −$8.2MFY2025: Buybacks −$2.7M$62.9MFY2025
Over these 5 years operating cash flow totalled $274M; the largest uses were capital spending ($49.6M) and buybacks ($48.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$331M
Debtnone
Net cash$331M

Figs funds itself: free cash flow was $148M over the last twelve months, with $331M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Figs: sources (+) and uses (−) of cash, Q3 2026Figs: sources (+) and uses (−) of cash, Q3 2026Other investing−$66.3MOperating cash flow$56.9MCash drawn (+) / kept (−)$32.1MBuybacks−$13.8MCapital spending−$5.7MTaxes on employees’ shares−$3.7MShares issued$510KExchange rates$61K
Figs: sources (+) and uses (−) of cash, TTM to Q3 2026Figs: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$161MOther investing−$59.6MBuybacks−$46.6MCash drawn (+) / kept (−)−$30.0MCapital spending−$13.6MTaxes on employees’ shares−$13.5MShares issued$1.7MExchange rates$85KOther financing$1K

From profit to cash

Figs: net income to operating cash flow, Q3 2026Figs: net income to operating cash flow, Q3 2026Net income$19.3MDepreciation & amortization$2.3MStock-based pay$7.4MDeferred taxes−$1KReceivables$15.8MInventory−$1.8MPayables$5.7MAccrued liabilities$2.1MEmployee-related liabilities$2.4MDeferred revenue$4.0MPrepaid and other assets−$4.8MIncome taxes payable$815KOperating cash flow$56.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026318918174
Q2 2026224216228
Q1 2026323323213
Q4 2025417214161
Q3 2025628925271
Q2 2025424127218
Q1 2025427522257
Q4 2024522234192

Every quarter

QuarterOperating cash flowCapital spendingBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$56.9M−$5.7M−$13.8M$510K$32.1M$51.2M
Q2 2026$46.9M−$2.6M−$24.0M$535K−$34.2M$44.3M
Q1 2026−$3.2M−$2.4M−$8.8M$295K$7.7M−$5.6M
Q4 2025$60.9M−$2.9M—$400K−$35.5M$58.1M
Q3 2025$3.4M−$2.9M—$1.1M$4.4M$531K
Q2 2025−$12.4M−$1.1M—$185K$39.2M−$13.5M
Q1 2025$9.2M−$1.3M−$2.7M—−$4.4M$7.9M
Q4 2024$30.4M−$3.4M−$38.2M$170K$38.5M$27.1M

Figs: income statement and cash flow

Figs, Q3 2026: revenue $191M (+26% year over year), operating margin 11.6%. The chart follows the revenue to costs, profit and cash.

Figs: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.