FIGS Closes 2025 with Strong Q4 Performance

Apparel brand reports record quarterly revenue, active customers, and profitability despite tariff pressure and inventory write-off

Published on Feb. 28, 2026

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FIGS (NYSE:FIGS) closed fiscal 2025 with a 'remarkable' fourth quarter, highlighted by a return to double-digit annual growth, record quarterly revenue above $200 million, and expanded profitability despite tariff pressure and an inventory write-off. The company reported strong performance across its scrubs and non-scrubs categories, as well as accelerated growth in its international markets.

Why it matters

FIGS' robust Q4 results demonstrate the brand's continued momentum and ability to navigate macroeconomic headwinds, underscoring its position as a leading player in the medical apparel market. The company's focus on product innovation, community engagement, and international expansion positions it well for future growth.

The details

In Q4, FIGS reported net revenue of $201.9 million, up 33% year-over-year, driven by strong brand momentum, inventory positioning, and successful marketing campaigns. Active customers reached a record of more than 2.9 million, up 9% year-over-year. Scrubs revenue increased 35% and represented 77% of net revenue, while non-scrubs grew 26%. Internationally, net revenue rose 55%, with the company's 'go deep, go broad' strategy paying off across markets. However, Q4 gross margin declined 440 basis points to 62.9% due to higher tariff pressure and a $5.6 million inventory write-off.

  • FIGS closed fiscal 2025 with its Q4 results.
  • The company opened three new retail community hubs in Q4 2025, expanding its footprint to five locations.

The players

FIGS

An American direct-to-consumer designer and retailer of medical apparel and accessories, founded in 2013 by Heather Hasson and Trina Spear.

Trina Spear

Co-founder and CEO of FIGS.

Sarah Oughtred

Chief Financial Officer of FIGS.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

What’s next

For fiscal 2026, FIGS expects net revenue to increase 10%-12% year-over-year, with sustained active customer momentum as a key driver. The company plans to open four additional community hubs in the second half of 2026, closer to Q4.

The takeaway

FIGS' strong Q4 performance, marked by record revenue, active customers, and profitability, demonstrates the brand's resilience and ability to navigate challenges. The company's focus on product innovation, community engagement, and international expansion positions it well for continued growth in the medical apparel market.