FIGS Co-Founder and CEO Trina Spear presented at the Barclays 19th Annual Global Consumer Conference on September 8, 2026, painting a picture of sustained momentum for the healthcare apparel company. The firm guided to approximately $760 million in revenue for the year, reflecting 20% top-line growth, while projecting an adjusted EBITDA margin of 15%.
Gross margins are expected to come in around 69.5% this year, up slightly from the historical range of 67% to 68%. Management noted that tariff refunds are creating some abnormality in the current-year figure. The company’s active customer count reached 3.1 million, growing 13% during the quarter, while revenue per customer hit a record $229. Sales accelerated for three consecutive quarters, including a 25% increase in the fourth quarter of the prior year. Last-twelve-months revenue stood at $710 million with a gross profit margin of 68.91%.
International operations account for roughly 20% of total revenue and grew 67% in the quarter, driven by expansion across Canada, Mexico, the United Kingdom, Australia, and increasing focus on Asian markets including South Korea, Japan, and China. The company now operates in 85 countries.
Non-scrubwear segments grew 40% in the quarter, and men’s sales currently represent about 15% of revenue — a figure management cited as notably below the industry benchmark of 25%, suggesting room for growth. The best-selling product lines include the Katarina top and Isabelle pant for women, and the Leon top and Cairo pant for men. The company also highlighted its footwear collaboration with New Balance and its acquisition of V Coterie, a pins and jewelry business.
Spear emphasized the scale of FIGS’s brand advantage over legacy competitors such as Cherokee, Dickies, and the Grey’s Anatomy licensed line. "Our marketing budget's bigger than their revenue, and that's hard to compete with," Spear said. "The moat has never been wider between us and everybody else."
The global addressable market is estimated at 140 million healthcare professionals, with FIGS’ 3.1 million active customers representing approximately 2.2% penetration. Healthcare workers spend roughly $550 annually on uniforms, purchasing four to six sets per year and maintaining eight to twelve sets in rotation, replacing wardrobes approximately every two years. Macro tailwinds are present: healthcare and social assistance accounted for 550,000 of the 600,000 job gains over the past year.
FIGS leverages proprietary fabrics FIONx and FIBREx, which offer antimicrobial, wrinkle-resistant, stain-repellent, and four-way stretch properties, along with enhanced durability. The company’s cost of goods sold is entirely variable with no fixed overhead in product costs. Carrier surcharges and elevated oil prices began impacting freight costs in the second quarter, though 2026 product costing rates were pre-negotiated, limiting near-term exposure. A tariff refund headwind is expected in 2027 under IEEPA provisions.
The company operates five Community Hub retail locations with plans to open four more. It engages 600 global brand ambassadors for advocacy and product feedback. Spear also highlighted the company’s advocacy for the Healthcare is Human Act, which would provide a $6,000 annual tax credit for healthcare workers, alongside its partnership with the Dr. Lorna Breen Heroes’ Foundation on mental health support.
CFO Sarah Oughtred, who joined in 2024 after a 17-year tenure at Lululemon, oversaw the financial guidance alongside co-founder Heather Hasson, who co-founded FIGS in 2013 and led the company through its 2021 IPO. FIGS carries a market capitalization of $2.29 billion.
