Figs Inc. (FIGS) financial statements: income statement, balance sheet and cash flow

Figs Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Figs Inc. reported revenue of $631.1M (+13.6% year on year) and net income of $47.2M (+229.2% year on year).

Income statement

Figs Inc. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net revenues	$631.1M	$555.6M	$545.6M	$505.8M
Cost of goods sold	$211.3M	$179.9M	$168.7M	$151.4M
Gross profit	$419.8M	$375.6M	$377.0M	$354.5M
Selling	$145.9M	$141.9M	$125.1M	$118.4M
Marketing	$93.1M	$88.6M	$77.1M	$77.7M
General and administrative	$142.7M	$142.9M	$140.7M	$120.7M
Total operating expenses	$381.7M	$373.4M	$342.9M	$316.8M
Net income from operations	$38.1M	$2.3M	$34.0M	$37.7M
Interest income	$8.7M	$11.2M	—	—
Other income (expense)	$312.0K	$833.0K	($13.0K)	($647.0K)
Total other income, net	$9.1M	$12.1M	$6.8M	$1.1M
Net income before provision for income taxes	$47.2M	$14.3M	$40.8M	$38.7M
Provision for income taxes	$13.0M	$11.6M	$18.2M	$17.5M
Net income	$34.3M	$2.7M	$22.6M	$21.2M
Basic earnings per share (in USD per share)	$0.21	$0.02	$0.13	$0.13
Diluted earnings per share (in USD per share)	$0.19	$0.02	$0.12	$0.11
Weighted-average shares outstanding - basic (in shares)	163.5M	169.2M	168.1M	165.3M
Weighted-average shares outstanding—diluted (in shares)	179.5M	180.1M	182.4M	187.5M

Figs Inc. income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Net revenues	$196.6M	$159.9M	$151.7M	$152.6M
Cost of goods sold	$48.8M	$51.6M	$45.6M	$50.4M
Gross profit	$147.9M	$108.3M	$106.1M	$102.2M
Selling	$43.7M	$36.4M	$35.8M	$34.4M
Marketing	$28.5M	$29.5M	$23.5M	$23.2M
General and administrative	$40.4M	$37.9M	$37.1M	$34.7M
Total operating expenses	$112.6M	$103.8M	$96.4M	$92.3M
Net income from operations	$35.3M	$4.5M	$9.6M	$9.9M
Interest income	$2.1M	$2.2M	$2.3M	$2.1M
Other expense	($526.0K)	($277.0K)	$9.0K	($3.0K)
Total other income, net	$1.6M	$2.0M	$2.3M	$2.1M
Net income before provision for income taxes	$36.9M	$6.4M	$12.0M	$12.0M
Provision for income taxes	$8.5M	$157.0K	$3.2M	$4.9M
Net income	$28.4M	$6.3M	$8.7M	$7.1M
Basic earnings per share (in USD per share)	$0.17	$0.04	$0.05	$0.04
Diluted earnings per share (in USD per share)	$0.15	$0.03	$0.05	$0.04
Weighted-average shares outstanding—basic (in shares)	166.5M	166.5M	163.7M	162.7M
Weighted-average shares outstanding—diluted (in shares)	195.1M	196.1M	180.9M	172.9M

Balance sheet

Figs Inc. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$82.0M	$85.6M	$144.2M	$159.8M
Short-term investments	$218.9M	$159.5M	$102.5M	—
Accounts receivable	$6.3M	$8.6M	$7.5M	$6.9M
Inventory, net	$128.0M	$115.8M	$119.0M	$178.0M
Prepaid expenses and other current assets	$12.2M	$13.3M	$12.5M	$11.9M
Total current assets	$447.3M	$382.8M	$385.7M	$356.5M
Property and equipment, net	$33.9M	$35.3M	$24.9M	$11.0M
Operating lease right-of-use assets	$57.1M	$50.5M	$43.1M	$15.3M
Deferred tax assets	$12.2M	$11.6M	$18.3M	$11.0M
Investment in equity securities	$27.7M	$27.5M	—	—
Other assets	$1.7M	$2.1M	$1.3M	$1.3M
Total non-current assets	$132.7M	$127.0M	$87.5M	$38.6M
Total assets	$580.0M	$509.8M	$473.2M	$395.1M
Accounts payable	$18.2M	$9.4M	$14.7M	$20.9M
Operating lease liabilities	$8.2M	$10.6M	$8.2M	$3.4M
Accrued expenses	$20.5M	$42.3M	$7.9M	$26.2M
Accrued compensation and benefits	$17.2M	$5.7M	$7.3M	$3.4M
Sales tax payable	$4.3M	$3.7M	$3.1M	$3.4M
Gift card liability	$12.1M	$9.6M	$8.2M	$7.9M
Deferred revenue	$4.0M	$4.6M	$2.2M	$2.8M
Returns reserve	$4.2M	$3.9M	$3.0M	$3.5M
Income tax payable	$1.9M	$346.0K	$2.6M	$0
Total current liabilities	$90.5M	$90.1M	$57.3M	$71.4M
Operating lease liabilities, non-current	$51.8M	$42.4M	$38.9M	$15.8M
Other non-current liabilities	$182.0K	$83.0K	$183.0K	$176.0K
Total liabilities	$142.5M	$132.7M	$96.4M	$87.3M
Common stock	$16.0K	$15.0K	$16.0K	$16.0K
Preferred stock — par value $0.0001 per share, 100,000,000 shares authorized as of December 31, 2025 and December 31, 2024; zero shares issued and outstanding as of December 31, 2025 and December 31, 2024	$0.00	$0.00	$0.00	$0.00
Additional paid-in capital	$338.5M	$312.6M	$315.1M	$268.6M
Accumulated other comprehensive income	$196.0K	$21.0K	$5.0K	—
Retained earnings	$98.7M	$64.5M	$61.8M	$39.1M
Total stockholders’ equity	$437.5M	$377.1M	$376.9M	$307.7M
Total liabilities and stockholders’ equity	$580.0M	$509.8M	$473.2M	$395.1M

Figs Inc. balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$108.5M	$74.3M	$46.5M	$50.8M
Short-term investments	$187.8M	$202.7M	$195.1M	$188.0M
Accounts receivable	$23.3M	$5.2M	$12.2M	$9.1M
Inventory, net	$119.6M	$139.4M	$151.2M	$135.5M
Prepaid expenses and other current assets	$13.8M	$10.5M	$13.0M	$10.1M
Total current assets	$452.9M	$432.2M	$418.0M	$393.6M
Property and equipment, net	$33.4M	$33.1M	$33.6M	$33.1M
Operating lease right-of-use assets	$54.0M	$56.5M	$50.7M	$49.3M
Deferred tax assets	$12.2M	$12.2M	$13.1M	$11.5M
Investment in equity securities	$27.7M	$27.7M	$27.7M	$27.7M
Other assets	$2.5M	$1.6M	$1.6M	$1.8M
Total non-current assets	$129.8M	$131.3M	$126.7M	$123.5M
Total assets	$582.7M	$563.4M	$544.7M	$517.1M
Accounts payable	$9.1M	$7.8M	$5.3M	$19.0M
Operating lease liabilities	$9.0M	$8.3M	$9.4M	$9.5M
Accrued expenses	$39.5M	$35.7M	$34.2M	$22.2M
Accrued compensation and benefits	$10.5M	$4.9M	$12.4M	$7.4M
Sales tax payable	$3.9M	$4.9M	$3.7M	$3.5M
Gift card liability	$12.5M	$11.8M	$10.0M	$10.0M
Deferred revenue	$1.7M	$1.7M	$8.3M	$3.0M
Returns reserve	$4.1M	$4.0M	$3.2M	$3.0M
Income tax payable	$1.0M	$1.3M	$0	$654.0K
Total current liabilities	$91.4M	$80.2M	$86.7M	$78.4M
Operating lease liabilities, non-current	$48.7M	$52.3M	$44.7M	$42.1M
Other non-current liabilities	$264.0K	$263.0K	$83.0K	$83.0K
Total liabilities	$140.3M	$132.8M	$131.4M	$120.6M
Common stock	$16.0K	$16.0K	$15.0K	$15.0K
Preferred stock — par value $0.0001 per share, 100,000,000 shares authorized as of June 30, 2026 and December 31, 2025; zero shares issued and outstanding as of June 30, 2026 and December 31, 2025	$0.00	$0.00	$0.00	$0.00
Additional paid-in capital	$309.2M	$325.7M	$332.9M	$325.0M
Accumulated other comprehensive income (loss)	($240.0K)	($103.0K)	$162.0K	$70.0K
Retained earnings	$133.4M	$105.0M	$80.2M	$71.5M
Total stockholders’ equity	$442.4M	$430.6M	$413.3M	$396.5M
Total liabilities and stockholders’ equity	$582.7M	$563.4M	$544.7M	$517.1M

Cash flow statement

Figs Inc. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$34.3M	$2.7M	$22.6M	$21.2M
Depreciation and amortization expense	$9.0M	$6.7M	$2.9M	$1.9M
Deferred income taxes	($544.0K)	$6.6M	($7.3M)	($732.0K)
Non-cash operating lease cost	$10.0M	$8.5M	$2.9M	$2.4M
Stock-based compensation	$26.9M	$42.7M	$45.8M	$37.5M
Accretion of discount and accrued interest on available-for-sale securities	($3.7M)	($5.7M)	($1.7M)	—
Accounts receivable	$2.4M	($1.2M)	($603.0K)	($4.4M)
Inventory	($12.2M)	$3.3M	$58.9M	($91.9M)
Prepaid expenses and other current assets	$1.1M	($2.5M)	($572.0K)	($4.5M)
Other assets	$356.0K	($737.0K)	($79.0K)	($197.0K)
Accounts payable	$8.8M	($5.3M)	($6.2M)	$6.3M
Accrued expenses	($21.3M)	$34.0M	($18.7M)	$1.5M
Accrued compensation and benefits	$11.5M	($1.6M)	$3.9M	$2.2M
Sales tax payable	$561.0K	$556.0K	($225.0K)	($3.0M)
Gift card liability	$2.5M	$1.4M	$358.0K	$697.0K
Deferred revenue	($622.0K)	$2.5M	($626.0K)	($354.0K)
Returns reserve	$298.0K	$884.0K	($469.0K)	($4.0M)
Income tax payable	$1.5M	($2.2M)	$2.6M	$2.3M
Operating lease liabilities	($9.7M)	($8.3M)	($2.7M)	($2.1M)
Other non-current liabilities	$99.0K	($100.0K)	$7.0K	($67.0K)
Net cash provided by operating activities	$61.2M	$81.2M	$100.9M	($35.3M)
Purchases of property and equipment	($8.2M)	($17.0M)	($16.3M)	($5.3M)
Purchases of available-for-sale securities	($257.0M)	($246.9M)	($150.1M)	—
Maturities of available-for-sale securities	$201.4M	$196.6M	$49.3M	—
Purchase of investment in equity securities	($201.0K)	($27.5M)	—	—
Net cash used in investing activities	($64.0M)	($94.9M)	($117.2M)	($5.8M)
Repurchases of Class A Common Stock	($2.7M)	($45.5M)	—	—
Proceeds from stock option exercises and employee stock purchases	$1.7M	$438.0K	$916.0K	$3.0M
Tax payments related to net share settlements on restricted stock units	$0	$0	($246.0K)	$0
Issuance of Class A Common Stock upon vesting of restricted stock	$1.0K	—	—	—
Issuance of Class A Common Stock in exchange for services	$0	$250.0K	—	—
Net cash (used in) provided by financing activities	($969.0K)	($44.8M)	$670.0K	$3.5M
Effect of foreign currency exchange rate changes on cash and cash equivalents	$100.0K	—	—	—
Net decrease in cash and cash equivalents	($3.7M)	($58.5M)	($15.6M)	($37.7M)
Cash and cash equivalents, beginning of period	$85.6M	$144.2M	$159.8M	$197.4M
Cash and cash equivalents end of period	$82.0M	$85.6M	—	—
Cash paid for income taxes, net of refunds received	$8.4M	$13.1M	$21.1M	$11.9M
Property and equipment included in accounts payable and accrued expenses	$67.0K	$536.0K	$453.0K	$19.0K

Figs Inc. cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$34.7M	$6.3M	$15.7M	$7.0M
Depreciation and amortization expense	$5.8M	$3.4M	$6.5M	$4.2M
Deferred income taxes	$12.0K	$6.0K	($1.5M)	$102.0K
Non-cash operating lease cost	$5.0M	$2.4M	$7.4M	$4.8M
Stock-based compensation	$12.2M	$5.5M	$21.7M	$14.9M
Accretion of discount and accrued interest on available-for-sale securities	($329.0K)	($337.0K)	($3.0M)	($2.1M)
Realized gains on available-for-sale securities	($45.0K)	($32.0K)	—	—
Issuance of Class A Common Stock in exchange for services	$238.0K	—	—	—
Accounts receivable	($17.0M)	$1.0M	($3.5M)	($386.0K)
Inventory	$8.4M	($11.4M)	($35.5M)	($19.8M)
Prepaid expenses and other current assets	($1.6M)	$1.7M	$227.0K	$3.1M
Other assets	$478.0K	$67.0K	$440.0K	$243.0K
Accounts payable	($9.2M)	($10.6M)	($4.0M)	$9.5M
Accrued expenses	$19.0M	$15.1M	($7.6M)	($19.6M)
Accrued compensation and benefits	($6.7M)	($12.3M)	$6.7M	$1.7M
Sales tax payable	($355.0K)	$661.0K	$25.0K	($203.0K)
Gift card liability	$379.0K	($363.0K)	$414.0K	$419.0K
Deferred revenue	($2.3M)	($2.3M)	$3.7M	($1.6M)
Returns reserve	($90.0K)	($213.0K)	($656.0K)	($871.0K)
Income tax payable	($872.0K)	($591.0K)	($346.0K)	$308.0K
Operating lease liabilities	($4.1M)	($1.2M)	($6.5M)	($4.9M)
Other non-current liabilities	$82.0K	$81.0K	—	—
Net cash (used in) provided by operating activities	$43.7M	($3.2M)	$242.0K	($3.2M)
Purchases of property and equipment	($5.0M)	($2.4M)	($5.3M)	($2.4M)
Purchases of available-for-sale securities	($170.7M)	($105.5M)	($185.9M)	($136.6M)
Maturities and sales of available-for-sale securities	$201.9M	$121.7M	—	—
Other investing activities	($1.4M)	—	($201.0K)	($201.0K)
Net cash (used in) provided by investing activities	$24.7M	$13.8M	($38.1M)	($29.1M)
Repurchases of Class A Common Stock	($32.8M)	($8.8M)	($2.7M)	($2.7M)
Proceeds from stock option exercises and employee stock purchases	$830.0K	$295.0K	$1.3M	$185.0K
Payments for taxes related to net share settlement of equity awards	($9.8M)	($9.8M)	—	—
Net cash used in financing activities	($41.7M)	($18.3M)	($1.4M)	($2.5M)
Effect of foreign currency exchange rate changes on cash and cash equivalents	($76.0K)	($15.0K)	—	—
Net increase (decrease) in cash and cash equivalents	$26.6M	($7.7M)	($39.2M)	($34.8M)
Cash and cash equivalents, beginning of period	$82.0M	$82.0M	$85.6M	$85.6M
Cash and cash equivalents, end of period	$108.5M	$74.3M	$46.5M	$50.8M
Property and equipment included in accounts payable and accrued expenses	$134.0K	$260.0K	$0	$124.0K

Figs Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.