Equity Profile

FIGS

FIGS, Inc.

Consumer DiscretionaryApparel, Accessories & Luxury Goods$1.7B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

FIGS, Inc. is a retail company specializing in high-quality medical scrubs and apparel for healthcare professionals....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well FIGS is managing its costs and generating income.

$0.04

Revenue Growth

Revenue growth is crucial for understanding market demand for FIGS' products and overall business health.

N/A

1 more metrics, 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 retail company specializing in high-quality medical scrubs and apparel for healthcare professionals. As part of the consumer discretionary sector, FIGS is influenced by trends in healthcare spending and consumer preferences for premium products.

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

Continue to innovate product offerings.
Focus on expanding customer base.
Enhance online shopping experience.

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about FIGS' upcoming earnings, given its strong track record of beating EPS estimates.

Bull Case

If FIGS continues its trend of strong earnings surprises, it could signal robust demand and effective cost management, leading to further stock appreciation.

Bear Case

Conversely, if FIGS fails to meet expectations or shows signs of slowing growth, it could lead to a significant drop in stock price, especially given the high implied volatility.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.04

EPS is a key indicator of profitability and will show how well FIGS is managing its costs and generating income.

Revenue Growth

N/A

Revenue growth is crucial for understanding market demand for FIGS' products and overall business health.

Customer Acquisition Cost

N/A

This metric will help gauge how effectively FIGS is attracting new customers, which is vital for growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

Given FIGS' history of beating EPS estimates, this number will be critical for investor confidence and stock performance.

How is customer demand trending in the current economic environment?

Understanding demand trends will help investors gauge FIGS' growth potential and market position.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating FIGS' ability to sustain its growth trajectory despite economic pressures, as recent trends in healthcare spending suggest continued demand for high-quality medical apparel.

Supporting Evidence

FIGS has consistently beaten EPS estimates, indicating strong operational performance.

The options market is pricing a larger move than historical averages, suggesting potential mispricing of risk.

The company's focus on expanding its product line could drive additional revenue streams.

Key Risk

If customer demand shows unexpected strength, it could invalidate cautious market sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on FIGS' ability to maintain its growth trajectory in a competitive market.

Bull Confirmed If

An EPS of $0.04 or better would confirm strong profitability and effective cost management.

Bear Confirmed If

An EPS below $0.03 could indicate weakening demand or rising costs.

Pre-Earnings Positioning

Options Market

Implied Move

±30.82%

Historical Avg

±4.5%

Pricing rich

The options market is pricing in a significant potential move in either direction, indicating uncertainty about the earnings outcome.

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 the stock could rise by about 3.79%, confirming strong demand and management effectiveness.

In-Line / Cautious

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

Miss

A miss could lead to a decline, with history suggesting an average drop of around 4.47%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on customer acquisition strategies and their effectiveness.
2Insights into supply chain management and cost control measures.
3Trends in online sales versus in-store sales.
4Feedback on new product launches and their reception in the market.
5Management's outlook on the healthcare sector and consumer spending.

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Company Snapshot

FIGS, Inc. is a retail company specializing in high-quality medical scrubs and apparel for healthcare professionals....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well FIGS is managing its costs and generating income.

$0.04

Revenue Growth

Revenue growth is crucial for understanding market demand for FIGS' products and overall business health.

N/A

1 more metrics, 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

Continue to innovate product offerings.
Focus on expanding customer base.
Enhance online shopping experience.

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about FIGS' upcoming earnings, given its strong track record of beating EPS estimates.

Bull Case

If FIGS continues its trend of strong earnings surprises, it could signal robust demand and effective cost management, leading to further stock appreciation.

Bear Case

Conversely, if FIGS fails to meet expectations or shows signs of slowing growth, it could lead to a significant drop in stock price, especially given the high implied volatility.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.04

EPS is a key indicator of profitability and will show how well FIGS is managing its costs and generating income.

Revenue Growth

N/A

Revenue growth is crucial for understanding market demand for FIGS' products and overall business health.

Customer Acquisition Cost

N/A

This metric will help gauge how effectively FIGS is attracting new customers, which is vital for growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

Given FIGS' history of beating EPS estimates, this number will be critical for investor confidence and stock performance.

How is customer demand trending in the current economic environment?

Understanding demand trends will help investors gauge FIGS' growth potential and market position.

Edge

What the Street Is Missing

Why consensus could be wrong

Supporting Evidence

FIGS has consistently beaten EPS estimates, indicating strong operational performance.

The options market is pricing a larger move than historical averages, suggesting potential mispricing of risk.

The company's focus on expanding its product line could drive additional revenue streams.

Key Risk

If customer demand shows unexpected strength, it could invalidate cautious market sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on FIGS' ability to maintain its growth trajectory in a competitive market.

Bull Confirmed If

An EPS of $0.04 or better would confirm strong profitability and effective cost management.

Bear Confirmed If

An EPS below $0.03 could indicate weakening demand or rising costs.

Pre-Earnings Positioning

Options Market

Implied Move

±30.82%

Historical Avg

±4.5%

Pricing rich

The options market is pricing in a significant potential move in either direction, indicating uncertainty about the earnings outcome.

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 the stock could rise by about 3.79%, confirming strong demand and management effectiveness.

In-Line / Cautious

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

Miss

A miss could lead to a decline, with history suggesting an average drop of around 4.47%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on customer acquisition strategies and their effectiveness.
2Insights into supply chain management and cost control measures.
3Trends in online sales versus in-store sales.
4Feedback on new product launches and their reception in the market.
5Management's outlook on the healthcare sector and consumer spending.