FIGS beats Q2 expectations: revenue $196.6M (+28.8%), EPS $0.15, raises FY guidance, $100M buyback increase

FIGS, Inc.

Net revenues $196.6M, up 28.8% YoY; net income $28.4M ($0.15 diluted EPS) vs $7.1M ($0.04) YoY.
Adjusted EBITDA $36.6M, margin 18.6% (up from 12.9% YoY); gross margin 75.2% (+820 bps) including IEEPA tariff refunds.
Active customers 3.1M (+13.2% YoY); net rev per active customer $229 (+10.1%); AOV $127 (+8.5%).
Board authorized $100M increase to share repurchase program, total authorization $200M; $119.2M remaining.
Full year 2026 outlook: net revenue growth ~20% vs 2025; adjusted EBITDA margin 14.8%-15.0%.

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