Filing Flows › Figs (FIGS) › Q2 2026 › vs Q1 2026
Figs (FIGS) Q2 2026 vs Q1 2026 (quarter over quarter)
Figs's revenue rose $36.7M (+23%) from $160M in Q1 2026 to $197M in Q2 2026. The biggest changes: Scrubwear +$34.6M (+27%); Non-Scrubwear +$2.1M (+6%). Gross margin 75.2% against 67.7% (+7.5 pts).
Figs, Q2 2026: revenue $197M (+29% year over year), operating margin 17.9%, net earnings $28.4M, operating cash flow $46.9M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 75.2% | 67.7% | +7.5 pts |
| Operating margin | 17.9% | 2.8% | +15.1 pts |
| Net margin | 14.4% | 3.9% | +10.5 pts |
| Free cash flow margin | 22.5% | -3.5% | +26.0 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Scrubwear | $161M | $127M | $34.6M | +27% |
| Non-Scrubwear | $35.4M | $33.3M | $2.1M | +6% |
| Revenue | $197M | $160M | $36.7M | +23% |
| Gross profit | $148M | $108M | $39.6M | +37% |
| Cost of revenue | $48.8M | $51.6M | −$2.8M | -6% |
| Other income, net | $1.6M | $2.0M | −$343K | -17% |
| Operating profit | $35.3M | $4.5M | $30.8M | +687% |
| Operating expenses | $113M | $104M | $8.8M | +8% |
| Pre-tax earnings | $36.9M | $6.4M | $30.4M | +472% |
| Sales & marketing | $43.7M | $36.4M | $7.3M | +20% |
| General & admin | $40.4M | $37.9M | $2.5M | +7% |
| Other operating costs | $28.5M | $29.5M | −$982K | -3% |
| Net earnings | $28.4M | $6.3M | $22.1M | +351% |
| Income tax | $8.5M | $157K | $8.3M | 54× |
| Depreciation & amortization | $2.4M | $3.4M | −$1.0M | -30% |
| Share-based compensation | $6.7M | $5.5M | $1.3M | +23% |
| Working capital & other | $9.4M | −$18.4M | $27.7M | — |
| Operating cash flow | $46.9M | −$3.2M | $50.1M | — |
| Free cash flow (OCF − capex) | $44.3M | −$5.6M | $49.9M | — |
| Capital expenditures | $2.6M | $2.4M | $178K | +7% |
Questions
How much did Figs's revenue grow quarter over quarter in Q2 2026?
Figs's revenue rose $36.7M (+23%) from $160M in Q1 2026 to $197M in Q2 2026.
What drove Figs's revenue change in Q2 2026?
Scrubwear +$34.6M (+27%); Non-Scrubwear +$2.1M (+6%).