FIGS, Inc. (FIGS) September 2026 Conference Transcript

Good afternoon or good morning. I guess it's still morning, maybe moving into afternoon. I always like, this is my favorite part of kind of having companies come to the conference doing the fireside chat. I'm Adrienne Yee. I am the Barclays Specialty Retail Apparel and Footwear Analyst. And it is my extreme pleasure to welcome Trina Speer, co-founder and CEO of FIGS, and Sarah Outred, CFO. I think it's always really important to understand the management backgrounds and bios. And so I'll start with Trina. So Trina co-founded FIGS in 2013 with Heather Hassan, and she's led the company from an entrepreneurial disruptor in healthcare apparel through its 2021 IPO and today into one of the most recognized and trusted brands serving healthcare professionals globally. Under her leadership, FIGS has built a unique combination of product innovation, community engagement, and brand affinity that has helped redefine an entire category. Sarah joined FIGS in 2024 as CFO after a 17-year career at Lululemon and has been instrumental in scaling the company's financial discipline and profitability while helping support growth initiatives across customer acquisition, international expansion, enterprise partnerships, and category diversification. So I've always found FIGS to be one of the more fascinating stories in retail because on the surface, investors view it as a scrubs company. But when you dig deeper, this is really a discussion about building a category-defining brand, creating a highly engaged professional community, expanding wallet share with a loyal customer base, and building a platform serving healthcare professionals around the world. So with that introduction, before we get into FIGs, I always like to set sort of the macro backdrop. And so let's talk about, Trina, how would you characterize the health of the U.S. consumer today relative to your guidance at the beginning of the year, six months ago. What's getting better? What's getting worse? And what do you think investors may be misunderstanding about the consumer, specifically your consumer?

Well, thank you so much, Adrienne. What a pleasure. What an intro. That was amazing. It's so exciting to be here, and thank you for taking the time. Thank you for all being here today. Yeah, so I think we're in an interesting space, right? We don't serve the average consumer. healthcare professionals are the, you know, most incredible people on the planet. They're saving lives. They're helping patients and they're curing diseases. And I think one of the biggest things with our consumer is that they all have jobs. All of them are employed as doctors and nurses in healthcare institutions around the planet. And healthcare jobs are the fastest growing job segment of any other job segment in the world. And so that's a huge tailwind as we think about the space in which we operate and who we're serving. If you look over the past year, 550,000 of the 600,000 job gains were healthcare jobs and social assistance. So thinking about we're in this massive industry, 140 million healthcare professionals around the world. They are growing faster than any other job segment. And, you know, wages are stable, right? This is an incredibly stable profession. And healthcare professionals are the backbone of any functioning society. So when we think about who we're serving, the industry that we're in, the setting that they're operating in, it is truly unique. This isn't a – and the other piece of it is that it's non-discretionary, right? Healthcare professionals need their uniform to go to work and do their job. It's a mandated industry. And so what we do at FIGS is we are providing a product to healthcare professionals so that they can look good and feel good and perform at their best. And that, I think, is truly unique. And to your question about the guide earlier this year versus today, I think, you know, we've just seen a continued acceleration, right, starting in actually Q4 of last year where, you know, plus 25% growth the last three quarters. and incredibly proud of that and doing that in an incredible profit in a profitable fashion and so much much more to do and much much more to uh in terms of how we're going to show up and serve this community um but it's exciting uh to be in the position that we're in today um and to continue to execute on all of uh what's in front of us perfect great so sarah i'm going to turn to you about the model itself.

FIGS is primarily e-commerce, and so you get a lot of data, right, along with kind of to help you understand the consumer backdrop. Traffic's a big one. So can you talk to us about kind of those three quarters that you've actually been accelerating top-line growth? What have you been seeing in terms of traffic and, more importantly, conversion at full price?

Sure. So, you know, we've been growing the business. We've been accelerating that growth rate, and a big piece of that is from higher traffic. We've seen great efforts from all over our marketing channels that are driving that traffic and still maintaining strong conversion. And that strong conversion is really a function of the product offering and that continuing to improve from all the pieces that we've been doing to continue to innovate, continue to invest in the layering system. So seeing really strong results that's driving our orders and really contributing to that top line growth.

Great. And let me just put that into perspective. We just came out of second quarter earnings season. What you're describing here, 20% top line growth, profitability, strong gross margins, conversion, traffic up, is actually rare, very rare in this current environment. I think that's why we get so many questions about, is the consumer healthy? Your consumer is healthy. And I think that speaks volumes to what I'm going to talk about next. So the moat, right? What makes your business different? Every great company has a moat. You and I talked about this at the IPO at great length. I think you've proven it. So when you think about FIGs today, what is, in essence, the true moat?

Yeah, I mean, I think, you know, there are a number of moats. And I know you said one, but I'm going to say two. Okay, so I think product is our moat, right? It's our North Star. And, you know, we don't think about product as in, you know, just making something, right? It's really about creating a product that works for a community in an environment that they're in. And we start at the yarn level. So, you know, we became famous for our Finex fabrication. This is a fabric that is antimicrobial and wrinkle resistant and stain repellent and has four-way stretch and really works in the environments that healthcare professionals are in. And having enough storage and pocketing for your keys and your stethoscope and your alcohol swabs and all the things you're carrying around as a healthcare professional is super important. And really kind of combining these two worlds around technical fabric and comfort and really bringing those together for a community that didn't have it. And so, you know, product and continuing to innovate, not just in scrubware, but across the layering system, Sarah mentioned it, underscrubs, outerwear, compression socks. We have a footwear collab with New Balance. Like, all of that is really important so that we can serve all the different needs of healthcare professionals, both on-shift and off-shift, head-to-toe. I would say the moat that is harder to replicate, but once again, no one's been able to rip off our fabric, but the moat that's harder to replicate is how we've built a community. You know, what we've done for this industry is we've branded an unbranded industry, we decommoditized what many believe was a commodity product, But the thing that I think we're most proud of and something that we really have honed in on is around how we've built a community around a profession. This is a diehard fanatical community that loves figs and we are obsessed with them and love them as much as they love us. This is a community of people that have dedicated their lives to serving everybody else. And that job is hard. And so when we think about how we show up for them in our campaigns, in our, you know, showcasing the best of them back to them, whether that's a billboard in Times Square, a film on Instagram and TikTok, or an activation we're doing next to their hospital, we need to show up really truly understanding them and getting what they do and how they do it and having their back. And that's something that is very hard to replicate. And on the piece around that, we have a whole advocacy group fighting for health care professionals in D.C. We're giving back scrubs, giving scrubs around the world to health care professionals in need. And so that's a big part of what we do. And I just think there's so many things on the community front that we do with our now 600 global ambassadors that are exclusive to our brand that really helps, you know, them. They are driving the brand as much as we're working with them to continue to build everything that we're doing. So it's super exciting.

Now, I really like the point that you made because just outside, we were talking about new competitors entering your space. And I think what they lack is they can make the product, they can knock off your designs, but what they can't do is build this longstanding community. So I very much appreciate that. I guess it goes into my next question. So some companies sell products and others sell symbols of identity. So, you know, healthcare professionals obviously have an emotional connection to figs that feels, you know, very uncommon. Other than kind of the community, how else can you, how else do you kind of maintain that connection with them?

Yeah, I mean, and I think that's what we've really done, to your point. We've built an authentic brand for the past 14, 15 years. and these are real relationships, one-on-one relationships and we've been able to scale that but that feeling that this company understands me and knows me is super important so we do it with our films we do it with our really deep connections with our ambassador community who are the most influential voices in medicine and then we do it with our advocacy and so one of the things that we put forth is our Healthcare is Human Act which we're fighting for $6,000 tax credit. I mean, you get a tax credit for like having an EV car. You get a tax credit for like having certain windows in your house. You get a tax credit for having children. But what about saving lives? What about all the work that healthcare professionals do? And so $6,000 a year is what we're fighting for. We've also partnered with the Lorna Breen Foundation on mental health support. You know, coming out of COVID was incredibly impactful for our community in terms of PTSD and everything that they faced. And so, you know, there was, like, a question on the form when you were joining a hospital that said, like, have you ever had mental health support? And that could be used against you if you check that box. So we got, I think around half the states in the U.S., we got that question off the form. I mean, if you're an elite athlete, you have a coach. Why is it as a health care professional you can't have a therapist? That seems crazy. Okay, and then, you know, a whole host of other things around pay, safety, training, support in your workplace. And so, you know, our community knows that we're doing this work and it's super rare. Like some of the things that we're doing, no one even thinks about. They don't understand because they're not direct to consumer. They don't understand the lives and the experience of being a healthcare professional and what's needed to do that job. We do because of those relationships and then we're able to take action and build out teams to go after this and really make that experience better, which is our goal.

That's great, which then brings me to the brand awareness and the return on all these good things. So we're sitting here today, we're broadcasting out to the investment community, and we all know these things, but it's hard to get that message out to 3.1 million active customers. So, Sarah, can you talk about where you are in that customer acquisition journey? A lot has always talked about ROAS, return on ad spend, and how much more effective that is as you build this sort of install base, so to speak. And what have you learned about the lifetime value of your most engaged customers?

Sure. So our active customer base is 3.1 million. We grew at 13% in the quarter. We've been accelerating the growth rate of that active customer base. And that's really being driven by not only acquiring new customers, but seeing really favorable returning customer metrics. there's over 140 million healthcare professionals worldwide. And so if you compare our 3.1 million to that, there's a massive runway for us to continue to go after improving our active customer base. So we look at the longer-term growth drivers as one component really being that active customer base and continuing to increase it, as well as continuing to grow revenue per customer. Your question around marketing. So marketing has been successful for us to continue to grow that active customer base. And, you know, the journey with marketing really has evolved from a pure bottom of funnel to really building out, adding on upper funnel that's helping to improve our awareness, helping to share the brand message, helping to share all about product education. And, you know, we've also then, you know, shifted to adding in the middle layer. So we've really evolved from bottom of funnel to full funnel marketing, and we've done that with a very similar cost structure over time. So we've seen efficiencies gained through bottom of funnel, and we've reinvested that into the business to really build out that full funnel. And so we've got this really great marketing flywheel that is really performing for us. We see continued opportunity with it, and we'll continue to use that to go after building out that active customer base.

I mean, it does seem like the step up in advertising, some people were a little bit upset that it pressured the S2NA, but it really feels like we're now seeing the aftermath of that with the acceleration in the customer acquisition. um so with that in mind um what gives you the confidence that recent acceleration in this customer growth is sustainable and not simply some the kind of like impact of some higher brand advertising in the earlier part of the year sure i mean i think uh how we look at the overall business in terms of what's been driving the growth not only within the active customer base but really throughout, is that it's broad-based.

It's not just one thing that we've turned on. We've got a really powerful ecosystem that's working for us and driving the results, and we're seeing it across our geographies, our product, our different channels. And so it's the whole system that's working for us and driving it, and that tells us that there is sustainability behind it. We've made investments into the business that have improved our results, and we're only at the beginning here. So we have lots of other initiatives that are still to come, and so we know that there's additional levers we can continue to pull, additional investments that we can continue to make to continue that growth into the future.

Can you share any brand awareness metrics with us kind of, you know, kind of a year ago or before you started the big push to the top of the funnel?

Sure. So, you know, overall, you know, the tracking that we have around brand awareness suggests that it is quite low. And so we've seen continued improvement in all of those metrics. So unaided awareness, awareness, preference usage, and, you know, year to date, we've seen, you know, notable improvements. And so that's been really great to show that the efforts that we are doing are working. We do think we have a big runway, you know, so there's a lot of people that are not aware of FIGs, and that's still within the U.S., so there's still awareness and, you know, business that we can continue to drive within the U.S., and then much more so globally. We've been building our international business. It's about 20% of the business today, and, you know, as we continue to build that awareness and have people learn about the brand, As soon as they try the product on, there's a lot of stickiness. Once they've tried that product, they're with us. And so we can continue to invest in that upper funnel to drive that awareness and really build the brand for the future.

Great. So I'm going to move over to the competitive landscape. So when you started this journey in 2021, or at least since I've known you from the IPO, there were a lot of you were kind of the the transformation right you were moving from kind of a primarily wholesale driven account-based uh you know system to the the DTC model can you talk about today five years five and a half years later um how some of those competitors that we thought would be difficult for you to um to move aside how the the landscape has sort of shifted more in your favor and what are the big changes that you're seeing today amongst the competition sure Sure.

You know, I think there's really two parts of the competitive landscape. It's kind of the old world, as you mentioned, the dinosaurs that kind of were essentially licenses of other companies like Cherokee and Dickies and Grey's Anatomy Scrubs, which is a license from ABC Studios, the TV show, which is crazy. And then all of those companies would then sell to, you know, scrub stores and strip malls where there would be a rock of black and a rock of navy and next to bedpans and knee braces, and that was, like, the industry, right? And so, and economically, it didn't make any sense because they were paying 10% to 12% royalty fee to the license holder. They were giving 60% of the price to the wholesaler. And they didn't know the names of their customer because somebody else was selling to the end user, the healthcare professional. So that was the industry. We called it the anti-mode. Those companies are still stuck in the strip mall, right? And so a lot of those companies, the largest company has since gone bankrupt and is restructured, and I think even now is going through a number of challenges. And then the new world, we were pretty, like, we didn't do a lot of press because we didn't feel like that would do anything. for us so you know a lot of like I would say the copycats are very behind in terms of like they saw our success in the IPO then they tried to copy us a lot of them launched two years later it's kind of like we're like oh this is harder than I thought and then got bored and then went away and then some of them are still around but I would say if you were to take the full like copycat space you know and combine all their revenue it's like a fifth of our size all of it and scale matters right because our marketing budget is bigger than their revenue and that's hard to compete with and our relationships with our manufacturers are really deep and so we're able to innovate and do things that others can't do and they can't access our ambassadors that are really important to what we do and they can't and they just don't think like we do. And not to say that we are not complacent, we're paranoid, we've got to be better, faster, smarter than everybody else and all of that. But at the end of the day I do think the moat has never been wider between us and everybody else, and we've never been better positioned from a product and a marketing standpoint to continue to execute on all of our initiatives and continue to deliver on our goals.

Great. And let me just remind everybody where you are in that journey. This year we're looking at about $760 million top line. We always say the path to that first billion is really, really tough, and then at that billion you get enough eyeballs on you and you make enough of an impression that that one to the two starts to really happen. So you're right on that kind of big inflection point. So as we talk about the revenue growth formula, we talked about customers, new acquisition, but let's talk about wallet expansion, right, share of wallet. How should we think about the opportunity to grow spending from existing customers, which would complement the new customers?

Sure. You know, I think that the new customer opportunity is just as big, sorry, the repeat frequency opportunity is just as big as the new customer opportunity, right? We talked about 140 million healthcare professionals. We have 3.1 million active customers. But there's a huge opportunity in terms of how often healthcare professionals are coming back to replenish their uniform with us. And so healthcare professionals, you know, they come to us. They might buy the Katerina top and the Isabel pant. Those are two of our best-selling products. Check them out. And then they are going to come back because they love it so much. And we're not paying for them to come back, right? That's the beauty of the product being so great that people want to come back and they need their uniform to go to work and do their job. On average, healthcare professionals are buying about four to six sets of scrubs a year. They have eight to 12 sets of scrubs in their closet. They're replacing their uniform wardrobe every two years. And so this repeat dynamic is incredibly powerful. It's the difference between FIGs and almost every other consumer company on the planet is that the acquisition is mainly from word of mouth because everyone's a walking billboard acquiring that next customer for us. That's why our marketing is so efficient. And then on the repeat side, you're coming back because the product is so great, right? And there's no reason why you would need to see an ad or whatever to buy it again, right? So that replenishment dynamic is super strong. And so, you know, revenue per customer record $229. On average, healthcare professionals spend $550 a year on their healthcare uniform. And so a lot of runway to continue to penetrate the full share of wardrobe. And we're going to continue to do that. But, you know, it is not just about the scrubs. It's also about the non-scrubs. Non-scrub wear grew 40% in the quarter. That's your under-scrubs, your outerwear, your compression socks. We have an amazing accessories business that's, like, blowing up right now. We just made an acquisition of V-Cotery, which is a pin and jewelry and charm business, which is awesome. And so, you know, all of the ways that not only all the products you need in your job, but also how are you personalizing, you know, it's super fun, it's super cute, and there's all these ways that we can make it fun and cute for our healthcare professionals.

Yeah, I remember, again, so much of this reminds me of the IPO, that you had said, you know, we all get up in the morning and we get to pick an outfit. We get to pick what we want to, you know, the expression of who we are, and they don't. And so with figs, they're offering kind of this version through decodery and all the personalization to actually have an expression of who they are from eight to eight all day long. Which brings me to my third pillar of growth, which is total addressable market. So you touched a little bit on sort of the new town opportunities. Let's talk about decodery a little bit and then what product innovation sort of in the pipeline that you can share with us excite you the most today?

Sure. I mean, I think people talk about the TAM and a lot of companies talk about category killers. We talk about category creators. How are we creating categories, creating products for this industry that don't exist? I mean, we literally did that with the scrub jogger. It didn't exist. No one even knew what that was. No one knew what a scrub jumpsuit was. We invented it. And now it's a lot, a lot of sales. Okay, so So, you know, that's how we think about our industry and leading the industry and leading with product innovation. And, you know, I think there's so much that we're building out in terms of, like, take underscrubs or take outerwear, in terms of weights, in terms of the environment that you're in. You need, you know, you need different weights for whether it's colder, whether you're working outside on shift, whether you're working in a freezing hospital. You need different products that suit that. But your point about V-Cotery, this is a brand new space for us. We have been working with Lena and V-Cotery for eight years. We had been essentially partnering with her and collabing with her to the point where we saw how incredible this product was and how much love there was for the pins and for the jewelry and how people were integrating that into their uniform that we made the acquisition. And so super excited about what this is to become and super excited about accessories generally and what that will be. And so, you know, I think when we think about our customer journey, when we think about, you know, this love that the community has for FIGs and how much more we can offer, what other ways can we serve them and what other ways will be meaningful for them. And so I'm excited about all of it. I'm excited about, like, we, like, are just getting started in all of these areas. But even within Scrubware, we're reinventing. We just launched our FiberX fabrication. It's game-changing. And the amount of durability and storage and what you can do with that product is unbelievable with that fabric. So innovating across the board.

And then one more extension of the product, so Beyond Scrub. Talk about the kind of lifestyle component of it. You talk about on-shift and then off-shift. How much are you seeing figs as a brand extend into their weekend life or their off-shift life?

Yeah, and that's, you know, I meant to say about TAM, too. and then lifestyle is all tied together, right? Like, lazy companies sell into TAM. Innovative companies create TAM. We create TAM every day at FIGS. That is the goal, right? It's completely changing the game. Like, even in the TAM numbers, like the TAM numbers out there in the industry, they don't include underscrubs and outerwear. Those are our two biggest non-scrubware categories. And so, like, all of this extends beyond the shift and extends beyond what people thought of as healthcare apparel. In terms of lifestyle, you know, Healthcare professionals are, you know, like Us Weekly, like they're just like us, you know, like celebrities. They're just like us. They go get a coffee. They're in a surgery. They're, you know, watching Bravo. Like they have full lives. They're drinking a glass of wine with their friends at night, and they need a brand for them. And so we are that brand, right? And so having off-shift products or loungewear, right, and it's really around recovery. How are you just at a 12-hour shift, right? How are you recovering for that next shift, and what are the products that we can align with that so that you can seamlessly be ready for your next day or the night shift? Many of our nurses, many of our doctors are working nights too. So it's about all the layering pieces, on shift, off shift, and then head to toe from your scrub cap all the way to your footwear, and what's under unders, what's underscrubs, what's outerwear, and how can we really align that for your different activities on shift, right? And we think about low-impact activities, medium-impact, and high-impact, and how do we build layering systems for each of these types of activities for real-world settings. And it's all about solving problems, right? We're listening to our customers every single day. We're getting feedback. They're very loud on what they like and what they don't, which is awesome. They tell us exactly what they want. And then we're giving them what they didn't even know they want, right? Like, what is that version of, like, a faster horse? Well, no one thought the car would exist. For us, what is the car? And we think about that every day.

One of the sort of misunderstandings or misperceptions is that men aren't as easy to sell to, right? They don't change over their wardrobes as much, and they don't perhaps care as much about fit, form, and function. Dispel that notion.

Yeah. Men, men care. Well, it's funny because like we have a lot of women in our company and we joke about, you know, some companies, some athletic brands, they had to be like, figure out the women. Like, you know, it's like, you know, like the pink and shrink it that existed. So for us, you know, I think, you know, men is, is about 15 ish percent of our sales and the industry is 25%. So men is a massive opportunity. And I would say, you know, we're really focused on ensuring that our products and our assortment and the cadence in which we launch and the marketing aligns perfectly with male healthcare professionals. It's super important. I think we've done a great job, but there's much more to do and a huge opportunity because they do care and they do buy differently, right? They'll buy the same, like they'll buy the Leon top and the Cairo pant, which is two of our best-selling men's products, and they'll want it in like navy or black. and then they'll buy like four sets at a time and then they'll come back a little less often versus women, they want every color drop and they'll buy a little, like they'll buy a set or two, right? So that's, you just understand the nuances and the differences and then, you know, really serving them in the best way we can. But massive opportunity to continue to get more of our men on board.

Okay, so let's get to the numbers for Sarah. Let's talk about the structural margin drivers, the drivers of top line and then pricing power. Again, I'm going to reiterate numbers that you already know. For this year, you had guided to growing over 20%. We're looking at about $760 million this year. An adjusted EBITDA margin of 15%. And those are all growing double digits. That leads to top line over two years. So talk to us about the sustainability, because we talked a lot about top lines. So now let's kind of drill down into the P&L. Now, the sustainability of that 68.5% gross margin, it was always, you know, very attractive gross margin from the get-go. But is this kind of the new norm, or are there opportunities for upside, you know, going forward on that?

Sure. So our gross margin is very strong. We've, you know, historically run in that 67% to 68% profile. this year with the tariff refunds that does create some abnormalities so we're guiding to 69 and a half percent for this year just given that dynamic and you know as we go forward yeah I think that we have opportunity to you know continue to hold that rate and we've been you know working on making improvements in terms of how we're buying how we're working with our factories that can continue to help that. We do expect a headwind in terms of tariffs as we head into 2027, just given that there'd be the impact of the IEPA tariff refunds. But, you know, something else to keep in mind as it relates to our growth margin and our cost of goods sold is just all product costs. So it's all variable. Other companies often have, you know, overhead or other fixed costs that can leverage over time that isn't a dynamic for us. So as we think about the overall P&L, we're not planning on gross margin being a major contributor to margin expansion, but instead we see a really great opportunity to continue to improve our operating cost structure, both in terms of efficiency as well as leverage. So would expect that profit expansion over time will really be driven by our operating expenses while still being able to mostly maintain our gross margin profile.

Great. A couple of things on the short term, the near term, and then the longer term. Oil has been up for a lot longer than we would have hoped. It looks like it's going in the wrong direction, frankly. When you think about the costing horizon, you know, I'm not asking for guidance, but just how should investors think about sort of as we roll into 2027 on some of the pressures on that cost, and can you offset that through, you know, scale buying, et cetera? And then on the longer term for the operating margin, how much additional operating margin or operating leverage exists in that model?

Sure. So as we think about our product costing, I mean, we had already negotiated rates for 2026, and so haven't seen notable impact there. We think that it can impact us in the future, but, you know, scaled buying can also be an offset as well. And so, you know, we are going to continue to navigate around that. And I would say that, you know, as we think about the other impact really around oil is, you know, we've seen our carriers have applied various different surcharges that began really in Q2. And so, you know, our guide has continued to improve, but we have been picking up more and more costs related to both inbound and outbound shipping, and so we first increased our carrying costs really related to inbound. Now we are also carrying additional costs related to some of the air freight as we continue to navigate around some of the supply chain dynamics, and so we are carrying quite a bit of extra cost for this. If over time those costs reverse, that will be a benefit to the overall P&L. So, for now, we continue to assume those rates will stay. They've been in effect for quite a while. We don't see those coming down, but, you know, if and when they do, there could be benefit there to the P&L.

Great. Okay, let's talk about international. There's so many things to talk about.

I know.

So many good things. So, it continues to be one of the most exciting parts of the story, and it remains substantially ahead of the rest of the overall business. So why is the FIGS brand resonating globally with, again, fairly low brand awareness?

Yeah, I mean, healthcare professionals are everywhere, right? And there are 140 million of them around the world. And I think that FIGS is timeless, and it's ubiquitous. And whether you're a healthcare professional living in Mumbai or Paris or Munich or Kentucky, you need a product that's going to help you look good and feel good and perform at your best. I mean, that is the human condition. And so I think when you think about, like, figs, it really does translate globally. And there's a lot that we're doing, right? We're in 85 countries. We've built out our strategies around go deep and go broad. We're going deep in Canada, Mexico, UK, Australia, really localizing, having boots on the ground, building out our ambassador program, doing more top-of-funnel marketing, really understanding the nuances of that marketing and really honing in on what makes sense. And that's working, and you're seeing that. A lot of the 67% growth for international for the quarter is in the core large markets. That's where the growth is coming from. And then the other markets is where we're going broad. We're turning on digital marketing. We're getting our ambassador program going, and that's been helpful. And we'll see, that'll be future, that'll be a future growth level, a future growth lever in the future. So I think, and then finally Asia, right? Korea, Japan, and China. These are markets that we're investing even more to get on the right social platforms, to build out the community on the ground. There is a little bit more nuance, but overall, our assortment, our product, Our brand is really resonating on a global level, and the playbook that we've built in the U.S. is working on a global scale.

Great. Last part of the community hubs. So many more opportunities, but let's talk about the community hubs very quickly. They're more than stores, right? They're places of kind of community gathering. Can you talk about are they primarily acquisition vehicles, awareness drivers, community centers, profitability drivers, they're all. They're all.

Yeah, they're all of those things. I'm really excited with what we're seeing from community hubs. We have five today. We're going to be opening four more. And what we see is they are a great customer acquisition vehicle for us. So that's been really great. They're an amazing awareness and billboard for our brands. They're helping to expand some of our different categories in terms of new fabrications, men's penetrates higher, and it's the opportunity for the customer to really try on, find the styles that work for them, feel the fabrics, understand some of the newness that we're offering, and financially, they've been performing beyond our expectations really, really well. So a great acceptance for these new stores, and we see the opportunity to add on more stores into the future. And they're really helping to grow the business within each of the cities that they're in. We see, you know, halo impact already happening in some of our newer locations. So I'm really excited about the results. We think that this will be a profitable channel for us and also accretive to the overall business. So, you know, everything is really working very well. It's very strong. Super excited about the trends that we're seeing and really excited to bring the FIGS brand to our healthcare communities right now across the U.S. So we're underway and, yeah, more to come in the future.

Okay, so we have a minute and a half left. They were timing this perfectly. Trina, with one final question. We're sitting here with investors after this fireside, and you wanted them to understand one thing differently about FIGs than they did before they walked into this room. What would it be?

I think that we're building an iconic brand over the next 100 years. We're going to be continuing to balance growth and profitability in a really sustainable way. And what you've seen over the past year around sustained growth and around community building and around product innovation, we're going to continue to do this the hard way, the right way, for the long run. And really understanding that our customer is different. Healthcare professionals are different. And they need to be served in a very unique way. And we are the brand and the only brand for them. and this is what we've built authentic connections over the last 15 years and we're going to continue to do that over the next 100. But super happy to be here with you.

Thank you so much. And I always kind of just, whenever you're, you know, I've been covering these stocks, consumer stocks for over 20 some odd years and what I always think that investors may not fully appreciate is the emotional connection. At the end of the day, when you put on that brand, that piece of apparel, it should make you feel like a million bucks. And I think you do that with FIGS. So thank you so much, Trina and Sarah. Thanks for joining us. Thanks, everybody, for joining.