What is FIGS's net debt?

FIGS (FIGS) reported net debt of -$13.7M in Q1 2026.

How has FIGS's net debt changed year-over-year?

FIGS's net debt increased by 64.6% year-over-year, from -$38.68M to -$13.7M.

What is the long-term trend for FIGS's net debt?

Over 3 years (2022 to 2025), FIGS's net debt has grown at a -46.1% compound annual growth rate (CAGR), from -$140.61M to -$21.98M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

FIGS FIGS Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

Sonos, Inc.SONO

-0.4×—

ANI PharmaceuticalsANIP

-0×-2.5×

Global Net LeaseGNL

-0.2×-0.1×

Healthcare Services GroupHCSG

-1.3×-22.6×

Global PartnersGLP

1.7×+0.2×

Ivanhoe ElectricIE

-19.6×—

Other financials

Income statement

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Revenue$159.9M+28.0%

Gross profit$108.3M+28.2%

Operating income$4.5M+2,225%

Net income$6.3M+6,265%

EPS (diluted)$0.03—

Balance sheet

See full

Cash & equivalents$74.3M-17.4%

Total debt$60.6M+18.1%

Total equity$430.6M+12.9%

Total assets$563.4M+7.9%

Cash flow

See full

Operating cash flow-$3.2M-135%

CapEx$2.4M+85.0%

Free cash flow-$5.6M-171%

Valuation

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Market cap$1.97B+229%

Profitability

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Gross margin66.6%-0.7pp

Operating margin6.4%+6.1pp

Net margin6.1%+5.9pp

FCF margin5.9%-4.9pp

Returns & leverage

See full

Return on equity10%+9.7pp

Debt / equity0.1×0.0×

Current ratio5.4×+1.4×

Where this comes from

Calculated from FIGS’s reported figures.

$60.6Mtotal debt−$74.3Mcash and equivalents=-$13.7M

The official record: FIGS’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is FIGS's net debt?: FIGS (FIGS) reported net debt of -$13.7M in Q1 2026.
How has FIGS's net debt changed year-over-year?: FIGS's net debt increased by 64.6% year-over-year, from -$38.68M to -$13.7M.
What is the long-term trend for FIGS's net debt?: Over 3 years (2022 to 2025), FIGS's net debt has grown at a -46.1% compound annual growth rate (CAGR), from -$140.61M to -$21.98M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.