Why Did FIGS Stock Plunge 16.44% Despite Strong Sales?

On May 9, 2025, FIGS experienced a significant drop of 16.44% in pre-market trading, marking a notable decline in its stock price.

FIGS, a healthcare apparel company, reported strong sales for the first quarter of 2025, exceeding Wall Street's revenue expectations. The company's sales increased by 4.7% year over year, reaching $124.9 million. Despite the positive sales performance, the stock price dropped by 13.4% following the earnings report. This discrepancy suggests that investors may have been disappointed by other aspects of the company's financial performance or outlook, despite the strong sales figures.