Filing Flows › Figs (FIGS) › Q3 2026 › vs Q2 2026
Figs (FIGS) Q3 2026 vs Q2 2026 (quarter over quarter)
Figs's revenue fell $5.9M (-3%) from $197M in Q2 2026 to $191M in Q3 2026. The biggest changes: Scrubwear −$3.7M (-2%); Non-Scrubwear −$2.2M (-6%). Gross margin 69.3% against 75.2% (-5.9 pts).
Figs, Q3 2026: revenue $191M (+26% year over year), operating margin 11.6%, net earnings $19.3M, operating cash flow $56.9M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 69.3% | 75.2% | -5.9 pts |
| Operating margin | 11.6% | 17.9% | -6.3 pts |
| Net margin | 10.1% | 14.4% | -4.3 pts |
| Free cash flow margin | 26.8% | 22.5% | +4.3 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Scrubwear | $158M | $161M | −$3.7M | -2% |
| Non-Scrubwear | $33.2M | $35.4M | −$2.2M | -6% |
| Revenue | $191M | $197M | −$5.9M | -3% |
| Gross profit | $132M | $148M | −$15.8M | -11% |
| Cost of revenue | $58.6M | $48.8M | $9.8M | +20% |
| Other income, net | $2.3M | $1.6M | $730K | +45% |
| Operating profit | $22.2M | $35.3M | −$13.1M | -37% |
| Operating expenses | $110M | $113M | −$2.7M | -2% |
| Pre-tax earnings | $24.6M | $36.9M | −$12.3M | -33% |
| Sales & marketing | $44.4M | $43.7M | $689K | +2% |
| General & admin | $40.0M | $40.4M | −$384K | -1% |
| Other operating costs | $25.5M | $28.5M | −$3.0M | -11% |
| Net earnings | $19.3M | $28.4M | −$9.1M | -32% |
| Income tax | $5.3M | $8.5M | −$3.2M | -38% |
| Depreciation & amortization | $2.3M | $2.4M | −$38K | -2% |
| Share-based compensation | $7.4M | $6.7M | $691K | +10% |
| Working capital & other | $27.8M | $9.4M | $18.5M | +197% |
| Operating cash flow | $56.9M | $46.9M | $10.0M | +21% |
| Free cash flow (OCF − capex) | $51.2M | $44.3M | $6.9M | +16% |
| Capital expenditures | $5.7M | $2.6M | $3.1M | +119% |
Questions
How much did Figs's revenue grow quarter over quarter in Q3 2026?
Figs's revenue fell $5.9M (-3%) from $197M in Q2 2026 to $191M in Q3 2026.
What drove Figs's revenue change in Q3 2026?
Scrubwear −$3.7M (-2%); Non-Scrubwear −$2.2M (-6%).