FIGS, Inc. Reports 5.8% Revenue Growth to $152.6 Million in Q2 2025

FIGS, Inc. reported its financial results for the second quarter of 2025, revealing a net revenue of $152.6 million, a 5.8% increase from $144.2 million in the same period last year. For the first half of 2025, the company achieved net revenues of $277.5 million, up 5.3% from $263.5 million in the prior year. The gross profit for the quarter was $102.2 million, with a gross margin of 67.0%, slightly down from 67.4% in the previous year. The company reported a net income of $7.1 million for the quarter, a significant increase from $1.1 million in Q2 2024, resulting in a net income margin of 4.7%.

In terms of operational metrics, FIGS saw its active customer base grow by 4.1% year-over-year, reaching approximately 2.7 million as of June 30, 2025. The average order value (AOV) also increased, from $113 to $117 for the three months ended June 30, 2025. The company’s total operating expenses decreased by 3.5% to $92.3 million, primarily due to lower selling and general administrative expenses. The decrease in operating expenses as a percentage of net revenues reflects improved efficiency in operations.

Strategically, FIGS has been focusing on expanding its product offerings and enhancing its digital platform. The company continues to monitor global trade policies, particularly tariffs that have impacted production costs, as approximately half of its goods are produced in Vietnam and Jordan. The company is implementing strategies to mitigate these costs, including renegotiating supplier terms and adjusting sourcing locations. Additionally, FIGS has not repurchased any shares during the second quarter but has approximately $52 million remaining under its share repurchase program.

Looking ahead, FIGS anticipates continued growth driven by its expanding customer base and product innovation. However, the company acknowledges potential challenges from macroeconomic factors, including inflation and supply chain disruptions. The management remains optimistic about the future, emphasizing the importance of maintaining brand reputation and customer engagement as key drivers of success. The company plans to continue investing in marketing and operational efficiencies to support its growth objectives.