Equity Profile

FIGS

FIGS, Inc.

Consumer DiscretionaryApparel, Accessories & Luxury Goods$2.5B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

FIGS, Inc. is a consumer discretionary company that specializes in high-quality medical scrubs and apparel....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is crucial as it reflects the company's profitability and can influence investor sentiment.

N/A

Revenue Growth

Revenue growth indicates the company's ability to expand its market share and attract new customers.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

FIGS Q2-2026 Earnings Preview

Context

Company Snapshot

FIGS, Inc. is a consumer discretionary company that specializes in high-quality medical scrubs and apparel. With a market cap of $2 billion, FIGS has gained attention for its focus on comfort and style in the healthcare apparel sector, which has seen growing demand as consumer spending increases in the post-pandemic environment.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+140.61%

Avg Stock Reaction

+3.75%

Last Quarter Recap

In Q1 2026, FIGS reported an EPS of $0.03, significantly beating expectations. The stock reacted positively, gaining 6% the following day.

Management Promises & Guidance

Focus on expanding product lines to attract a broader customer base.
Commitment to enhancing online shopping experience.
Plans to improve supply chain efficiency.

Expectations

Wall Street Expectations

Overall, expectations are mixed ahead of the earnings report, with investors looking for continued growth after a series of positive surprises.

Bull Case

If FIGS continues its trend of exceeding EPS estimates, it could lead to increased investor confidence and a significant stock price rally.

Bear Case

On the other hand, if FIGS fails to meet expectations or provides weak guidance, it could result in a sharp decline in stock value.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

Given FIGS' history of exceeding EPS estimates, this number will be crucial in determining market sentiment and stock performance.

How is revenue growth tracking compared to previous quarters?

Revenue growth is a key indicator of the company's ability to sustain its business momentum and attract new customers.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate FIGS' ability to continue its strong EPS growth due to its unique positioning in the healthcare apparel market.

Supporting Evidence

FIGS has consistently beaten EPS estimates in the past, indicating strong operational execution.

The options market is pricing a 30% move, suggesting that investors expect significant volatility, which may not align with the company's historical performance.

Key Risk

If the EPS comes in below $0.02, it could significantly challenge the bullish consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis this quarter revolves around FIGS' ability to maintain its growth momentum amidst increasing competition in the healthcare apparel market.

Bull Confirmed If

An EPS of $0.04 or higher would confirm the bull case and suggest strong operational performance.

Bear Confirmed If

An EPS below $0.02 would confirm the bear case and raise concerns about the company's growth trajectory.

Pre-Earnings Positioning

Options Market

Implied Move

±30.82%

Historical Avg

±4.5%

Pricing rich

The options market is pricing in a significant move, suggesting that investors anticipate volatility around the earnings announcement.

Options are pricing ±30.8% while FIGS has averaged ±4.5% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

98.6%

Calls (21K)P/C Ratio: 0.73Puts (2K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Consumer Discretionary

n=30

Fade rate: 8 of 21 (38%)

This setup has occurred 30 times across Consumer Discretionary in the last 2 years. 13 of 21 (62%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 4.9%, with a raw directional average of +2.2% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If FIGS beats expectations, history suggests a potential stock increase of around 3.79%, confirming ongoing operational strength.

In-Line / Cautious

If results are in line but management is cautious, the stock may see muted movement as investors reassess growth prospects.

Miss

A miss could lead to a decline, with history suggesting an average drop of around 0.79% following disappointing results.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any specific guidance on revenue growth for the upcoming quarters.
2Details on new product launches and their expected impact on sales.
3Updates on supply chain improvements and cost management strategies.
4Insights into customer acquisition strategies and market expansion plans.
5Management's outlook on competitive pressures in the healthcare apparel space.

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AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

FIGS, Inc. is a consumer discretionary company that specializes in high-quality medical scrubs and apparel....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is crucial as it reflects the company's profitability and can influence investor sentiment.

N/A

Revenue Growth

Revenue growth indicates the company's ability to expand its market share and attract new customers.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

FIGS Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+140.61%

Avg Stock Reaction

+3.75%

Last Quarter Recap

In Q1 2026, FIGS reported an EPS of $0.03, significantly beating expectations. The stock reacted positively, gaining 6% the following day.

Management Promises & Guidance

Focus on expanding product lines to attract a broader customer base.
Commitment to enhancing online shopping experience.
Plans to improve supply chain efficiency.

Expectations

Wall Street Expectations

Overall, expectations are mixed ahead of the earnings report, with investors looking for continued growth after a series of positive surprises.

Bull Case

If FIGS continues its trend of exceeding EPS estimates, it could lead to increased investor confidence and a significant stock price rally.

Bear Case

On the other hand, if FIGS fails to meet expectations or provides weak guidance, it could result in a sharp decline in stock value.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

Given FIGS' history of exceeding EPS estimates, this number will be crucial in determining market sentiment and stock performance.

How is revenue growth tracking compared to previous quarters?

Revenue growth is a key indicator of the company's ability to sustain its business momentum and attract new customers.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate FIGS' ability to continue its strong EPS growth due to its unique positioning in the healthcare apparel market.

Supporting Evidence

FIGS has consistently beaten EPS estimates in the past, indicating strong operational execution.

The options market is pricing a 30% move, suggesting that investors expect significant volatility, which may not align with the company's historical performance.

Key Risk

If the EPS comes in below $0.02, it could significantly challenge the bullish consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis this quarter revolves around FIGS' ability to maintain its growth momentum amidst increasing competition in the healthcare apparel market.

Bull Confirmed If

An EPS of $0.04 or higher would confirm the bull case and suggest strong operational performance.

Bear Confirmed If

An EPS below $0.02 would confirm the bear case and raise concerns about the company's growth trajectory.

Pre-Earnings Positioning

Options Market

Implied Move

±30.82%

Historical Avg

±4.5%

Pricing rich

The options market is pricing in a significant move, suggesting that investors anticipate volatility around the earnings announcement.

Options are pricing ±30.8% while FIGS has averaged ±4.5% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

98.6%

Calls (21K)P/C Ratio: 0.73Puts (2K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Consumer Discretionary

n=30

Fade rate: 8 of 21 (38%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If FIGS beats expectations, history suggests a potential stock increase of around 3.79%, confirming ongoing operational strength.

In-Line / Cautious

If results are in line but management is cautious, the stock may see muted movement as investors reassess growth prospects.

Miss

A miss could lead to a decline, with history suggesting an average drop of around 0.79% following disappointing results.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any specific guidance on revenue growth for the upcoming quarters.
2Details on new product launches and their expected impact on sales.
3Updates on supply chain improvements and cost management strategies.
4Insights into customer acquisition strategies and market expansion plans.
5Management's outlook on competitive pressures in the healthcare apparel space.