Filing Flows › Figs (FIGS) › Q4 2025
Figs (FIGS) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Figs (FIGS) reported revenue of $202M for the fourth quarter 2025 (Q4 2025), +33% from a year earlier and +33% from the quarter before. Operating margin was 9.3%, net earnings $18.5M (9.2% of revenue).
Figs, Q4 2025: revenue $202M (+33% year over year), operating margin 9.3%, net earnings $18.5M, operating cash flow $60.9M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $202M | +33% | +33% |
| Gross profit | $127M | +20% | +24% |
| Operating profit | $18.8M | +95% | +111% |
| Net earnings | $18.5M | +112% | +882% |
| Operating cash flow | $60.9M | 18× | +100% |
| Free cash flow | $58.1M | 109× | +115% |
What changed
Revenue was $201.9M in Q4 2025, up 33% year over year and up 33% from the previous quarter. Scrubwear was the largest line at 77% of revenue.
Gross margin was 62.9%, down 4.4 points from a year earlier. Operating profit was $18.8M, a 9.3% margin (up 3.5 points year over year). Of the extra revenue versus a year earlier, 20% reached operating profit, above the 6% margin then. Operating expenses grew 16% against revenue growth of 33%. The fastest-growing cost line was Other operating costs (+43%). Net earnings were $18.5M, up 882% year over year. The effective tax rate was 13.3%.
Operating cash flow was $60.9M (up 100% year over year), 329% of net earnings. Non-cash charges added back $2.6M of depreciation and amortization and $5.2M of share-based compensation. Working capital and other items added $34.7M. Capital expenditures of $2.9M left free cash flow of $58.1M.
Questions
What was Figs' revenue in the fourth quarter 2025?
Figs (FIGS) reported revenue of $202M for the fourth quarter 2025 (Q4 2025), +33% from a year earlier and +33% from the quarter before.
Was Figs profitable in the fourth quarter 2025?
Operating profit was $18.8M (9.3% of revenue) and net earnings $18.5M.
Source: Figs 10-K on SEC EDGAR.