FIGS shares have surged 25% over the past three months following another quarter of accelerating sales and improving profitability. Second-quarter 2026 net revenues rose 28.8% year over year to $196.6 million, marking a third consecutive quarter of more than 25% growth, with scrubwear up 27%, non-scrubwear up 40%, U.S. revenues up 22%, and international revenues up 67%. Active customers increased 13% to 3.1 million, average order value rose 9% to a record $127, and trailing 12-month net revenues per active customer reached a record $229, up 10% year over year. Adjusted EBITDA margin expanded to 18.6% from 12.9% a year earlier, supported by expense leverage, pricing, higher full-price selling, and lower return rates. The company raised its full-year 2026 revenue-growth outlook to approximately 20% from 14% to 16%, but faces tougher comparisons ahead, including lapping 33% growth in the fourth quarter and managing a U.S. Customs and Border Protection order blocking imports from a manufacturing partner in Jordan. The stock trades at 46.35 times forward 12-month earnings versus 15.28 times for its industry, leaving less room for a slowdown.
Boot Barn Holdings Inc
The Gap, Inc.Figs IncQ2 revenue growth 28.8%, margin expansion, raised guidance
