Filing Flows › Figs (FIGS) › Q1 2026
Figs (FIGS) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Figs (FIGS) reported revenue of $160M for the first quarter 2026 (Q1 2026), +28% from a year earlier and -21% from the quarter before. Operating margin was 2.8%, net earnings $6.3M (3.9% of revenue).
Figs, Q1 2026: revenue $160M (+28% year over year), operating margin 2.8%, net earnings $6.3M, operating cash flow −$3.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $160M | -21% | +28% |
| Gross profit | $108M | -15% | +28% |
| Operating profit | $4.5M | -76% | — |
| Net earnings | $6.3M | -66% | — |
| Operating cash flow | −$3.2M | -105% | -135% |
What changed
Revenue was $159.9M in Q1 2026, up 28% year over year and down 21% from the previous quarter. Scrubwear was the largest line at 79% of revenue. Scrubwear added $27.1M year over year (up 27%), 77% of the total change.
Gross margin was 67.7%, up 0.1 points from Q1 2025. Operating profit was $4.5M, a 2.8% margin (up 3.0 points year over year). Operating expenses grew 23% against revenue growth of 28%. The fastest-growing cost line was Other operating costs (+62%). Net earnings were $6.3M. The effective tax rate was 2.4%. Non-operating items added $2.0M, 30% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$3.2M. Non-cash charges added back $3.4M of depreciation and amortization and $5.5M of share-based compensation. Working capital and other items used $18.4M. Capital expenditures of $2.4M exceeded it, leaving free cash flow of −$5.6M.
Questions
What was Figs' revenue in the first quarter 2026?
Figs (FIGS) reported revenue of $160M for the first quarter 2026 (Q1 2026), +28% from a year earlier and -21% from the quarter before.
Was Figs profitable in the first quarter 2026?
Operating profit was $4.5M (2.8% of revenue) and net earnings $6.3M.
Source: Figs 10-Q on SEC EDGAR.