HIGHBuilt-inProduct / Revenue mix
core scrubwear styles
“10-K Item 1: 'The 17 core scrubwear styles that we produce year-round represented over 60% of our net revenues in 2025'”
FIGS · Concentration risk · 10-K extracted
FIGS (FIGS) concentration risks
Updated
The most significant concentration FIGS discloses is core scrubwear styles, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: FIGS’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 1 disclosed concentration
HIGH1
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's only disclosed concentration is a product-mix tilt toward core scrubwear styles. The filing notes that 17 core scrubwear styles produced year-round represented over 60% of net revenues in 2025 — a high share by disclosed size and structural in character. This concentration is a natural consequence of focusing on a defined uniform category for healthcare professionals, where a narrow set of high-velocity staples drives the majority of repurchase demand. The structural character means this skew is expected to persist: the business model is built around core basics that anchor the customer relationship, with seasonal or fashion-forward styles layered on top. A decline in demand for these core styles — whether from competitive pressure, material cost changes, or a shift in healthcare workwear preferences — would therefore have a larger proportional effect on revenue than a more evenly distributed product portfolio would face. There are no disclosed customer, geographic, supplier, or counterparty concentrations in the filing. The profile is narrow in scope: a single product-type exposure, well-disclosed and inherent to the direct-to-consumer basics strategy. The investment implication is less about idiosyncratic event risk and more about monitoring the durability of the core scrubwear category's share of wallet against potential trade-down, category disruption, or entry by lower-cost competitors targeting the same staple styles.
For the engine’s reasoning on FIGS’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Apparel Manufacturing
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| COLM | Columbia Sportswear Company | 2 | 5 | 1 | 8 |
| KTB | Kontoor Brands, Inc. | 2 | 1 | 0 | 3 |
| LEVI | Levi Strauss & Co | 2 | 0 | 1 | 3 |
| RL | Ralph Lauren Corporation | 1 | 3 | 0 | 4 |
| PVH | PVH Corp. | 1 | 0 | 1 | 2 |
| FIGS● | FIGS, Inc. | 1 | 0 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.