May. 27 at 1:21 PM
$FIGS bull case is getting stronger and the market still seems behind the curve.
Q1 highlights:
• Revenue +28%
• International revenue +50%
• Active customers +12%
• Gross margins 67.7%
• Raised FY26 guidance
This no longer looks like a “dead apparel brand.”
Key points:
• Strong recurring customer base
• Premium pricing power
• International expansion accelerating
• Margins improving
• Shorts still trapped (~10–13% short interest)
Post-earnings selloff may have actually reset sentiment and created a cleaner setup.
If growth + margin expansion continue, this could see:
Short-term squeeze/momentum run
Longer-term valuation re-rating
Many still view FIGS using the old 2023 narrative while fundamentals are clearly improving.
Watching for:
• Continued earnings beats
• Institutional buying
• Technical breakout
• More international growth
Could get interesting fast.
$FIGS
