FIGS, Inc.
In the published model solve dated 2026-Q2, anchored at $15.42, FIGS, Inc. (FIGS) is priced for today's economics sustained for ~16.5 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 26, 2026 from SEC EDGAR filings.
• Revenue reaccelerated hard in the March quarter, rising ⟦from $124.9 million to $159.9 million in the three months ended March 31, 2026 representing 28.0% year-over-year growth⟧, with the customer base up ⟦12.2% from approximately 2.7 million at March 31, 2025 to approximately 3.0 million at March 31, 2026⟧. • Cash moved the other way in the same quarter: ⟦Cash flows from operating activities decreased from $9.2 million to $(3.2) million in the three months ended March 31, 2026⟧, because growt
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232 institutional managers reported holding FIGS in 13F filings for the quarter ended 2026-03-31. Together they hold about 77% of the company; the top 10 hold 53%. 55 opened new positions that quarter. Held by Vanguard Group, BlackRock, Arrowstreet Capital, among others. On the short side, 14.0M shares were sold short as of the 2026-06-15 count, about 7% of shares outstanding (5.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
FIGS's share count grew 6.1% over the past five years even with $56.94M spent on repurchases. It pays no dividend. Cash returned over the past three years: $56.94M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at FIGS over the trailing three years. Absence is a fact about the company, not a signal. 12 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
FIGS's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-04 | +1.3% | -10.9% |
| 2023-11-03 | +28.7% | -9.7% |
| 2024-02-29 | -12.3% | -1.0% |
| 2024-05-10 | +4.7% | +6.5% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
FIGS's latest 8-K filings: 2026-08-06 (items 2.02, 7.01, 9.01); 2026-06-08 (items 5.07); 2026-05-07 (items 2.02, 7.01, 9.01); 2026-02-26 (items 2.02, 7.01, 9.01); 2025-12-15 (items 1.01, 2.03).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 26, 2026
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