FIGS, Inc., a direct-to-consumer healthcare apparel brand, reported a significant increase in financial performance for the fiscal year ending December 31, 2025. The company achieved net revenues of $631.1 million, marking a 13.6% increase from $555.6 million in the previous year. This growth was primarily driven by an increase in orders from both new and existing customers, alongside a rise in average order value (AOV), which reached $120, up from $113 in 2024. The company also reported a net income of $34.3 million, a substantial increase from $2.7 million in 2024, resulting in a net income margin of 5.4%.
In terms of operational metrics, FIGS expanded its active customer base by 9.4%, growing from approximately 2.7 million to 2.9 million. The company’s gross margin decreased slightly to 66.5% from 67.6% in the previous year, primarily due to the impact of tariffs and inventory write-offs. The total operating expenses increased by 2.2% to $381.7 million, reflecting higher selling and marketing costs, although these expenses as a percentage of net revenues decreased significantly, indicating improved operational efficiency.
Strategically, FIGS has been focusing on expanding its product offerings and enhancing its brand presence. The company operates five physical retail locations, referred to as Community Hubs, and plans to open additional stores in the future. The company has also been actively involved in community engagement through its Ambassador Program, which has helped foster brand loyalty among healthcare professionals. Furthermore, FIGS has been monitoring global trade policies, particularly tariffs that have affected its cost structure, and has implemented various mitigation strategies to manage these challenges.
Looking ahead, FIGS anticipates continued growth driven by its commitment to product innovation and customer engagement. The company is also focused on expanding its international presence and enhancing its B2B sales through its TEAMS platform, which aims to streamline the purchasing process for healthcare institutions. However, FIGS acknowledges the potential risks posed by macroeconomic factors, including inflation and changes in consumer spending behavior, which could impact future performance. The company remains optimistic about its growth trajectory, supported by a strong community of healthcare professionals and a differentiated product offering.
About FIGS, Inc.
FIGS, Inc. is a direct-to-consumer healthcare apparel and lifestyle brand that designs, manufactures, and sells high-quality, functional, and stylish scrubs and related products for healthcare professionals. It leverages digital platforms, community engagement, and product innovation to serve a global market, emphasizing brand loyalty, social responsibility, and community support. Its business model focuses on premium products, data-driven merchandising, and a strong community of healthcare workers.
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