FIGS, Inc. stock surged 7.45% during intraday trading on Thursday, driven by positive developments from the company.

The healthcare apparel company reported first-quarter revenue of $159.9 million, significantly exceeding the IBES estimate of $153 million. FIGS also posted adjusted EBITDA of $13.9 million, beating the $11 million estimate, with an adjusted EBITDA margin of 8.7% and net income of $6.3 million.

Additionally, FIGS announced a long-term partnership with actor Noah Wyle to advocate for the healthcare workforce and reduce medical debt, further boosting investor sentiment about the company's brand and social impact initiatives.