This past week, I added to my position in $FIGS. Here are the main highlights:

First, I typically add to existing positions after the company proves that my thesis is playing out. In short, I believe that Figs has a brand name so strong that consumers will continue to pay higher prices for their high-quality scrubs. The current economic situation put that to the test and based on Figs' Q2 results, it succeeded. Figs saw:

70% of revenue came from existing customers, showing (again) that its customers are incredibly loyal to the brand.

Additionally, Figs made strides on (what I see as) its two main expansion opportunities: International and lifestyle (non-scrubs apparel) revenue:

There was a whole lot more that I liked from the quarter, showing Figs' power in the scrubs market, but these were the core pieces of my thesis. They played out. I bought more. To read the whole reason why I was so excited to buy a few more shares, you can read this short article below: