FIGS, Inc. closed the third quarter of 2025 with its strongest growth in two years, lifting its full‑year outlook as net revenues climbed to $151.7 million, up 8.2% year over year, and profitability improved sharply. The healthcare apparel brand is benefiting from higher average order values, more full‑price selling, and a growing base of 2.8 million active customers.
Q3 2025 headline numbers
For the quarter ended September 30, 2025, FIGS generated $151.7 million in net revenues, up 8.2% from $140.2 million a year earlier, driven by more orders from both new and existing customers and higher AOV. Net income reached $8.7 million, versus a $1.7 million net loss in the prior‑year period, translating to a 5.8% net margin compared with a negative 1.2% margin last year.
Adjusted EBITDA rose to $18.9 million, up $14.1 million year over year, with adjusted EBITDA margin expanding to 12.4% from 3.4%. Gross margin improved…
by 280 basis points to 69.9%, helped by fewer discounts, better returns processing, lower duties and freight, partly offset by higher tariffs. Scrubwear, non‑scrubwear, and geography mix Scrubwear’s net revenues were $127.0 million, an 8.4% increase year over year, and remain the core of the business.
Non scrubwear net revenues reached $24.6 million, up 7.2%, reflecting continued traction in categories like outerwear, loungewear, and accessories. In the United States, net revenues rose 7.5% to $127.3 million, while international net revenues climbed 11.7% to $24.3 million, showing broad‑based demand outside the home market.
Management highlighted that both scrubwear growth and U.S. growth reached two‑year highs, supported by strong “business‑as‑usual” selling periods rather than heavy promotions. Customer metrics and order behavior Active customers as of September 30, 2025, increased 4.0% year over year to about 2.8 million, a new company record.
Net revenues per active customer rose 2.0% to $209, the first positive inflection in three years on this metric. Average order value reached $114, up 5.6%, driven by higher average unit retail, a richer mix, and a greater share of…
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