FIGS Earnings Reports

FIGS exceeded expectations in the first quarter of 2025, driven by customer growth, strong full-priced sales, and a record average order value. The company saw a return to growth in the U.S. market. However, changes in U.S. trade policies have introduced variability to the full-year outlook, leading to an updated forecast reflecting the projected impact of the current tariff structure.

FIGS, Inc. reported a 4.8% year-over-year increase in net revenues for the fourth quarter of 2024, driven by increased orders from existing customers. The company's financial results exceeded expectations, with a focus on product innovation, community connection, and meeting healthcare professionals' needs.

FIGS reported a slight decrease in net revenues, a reduction in gross margin, and an increase in operating expenses for Q3 2024. The company highlighted key investments, including an Olympics campaign and the transition to a new fulfillment center, while also noting challenges related to footwear inventory, promotional timing, and fulfillment center ramp-up costs. They also announced a minority investment in OOG, Inc.

FIGS reported a 4.4% increase in net revenues to $144.2 million, with a gross margin of 67.4%. Operating expenses increased by 7.0% year over year. Net income was $1.1 million, or $0.01 in diluted earnings per share, and adjusted EBITDA was $12.9 million.

FIGS reported a slight decrease in net revenues year-over-year, but saw improved momentum towards the end of the quarter. The company is strategically ramping up investments in marketing to fuel growth and is raising its full-year net revenues outlook while revising its adjusted EBITDA margin outlook.

FIGS reported flat net revenues year-over-year at $144.9 million for Q4 2023. However, the company saw an increase in net income to $10.0 million and an improved adjusted EBITDA margin of 18.4%.

FIGS, Inc. reported a 10.7% year-over-year increase in net revenues to $142.4 million for Q3 2023. Net income was $6.1 million, with a net income margin of 4.2%. The company also raised its full-year guidance.

FIGS reported a 13.0% year-over-year increase in net revenues, reaching $138.1 million. Net income was $4.6 million, with a net income margin of 3.4%. Adjusted EBITDA was $18.9 million, resulting in an adjusted EBITDA margin of 13.7%.

FIGS reported a 9.2% year-over-year increase in net revenues, reaching $120.2 million. The company's net income was $1.9 million, with a net income margin of 1.6%. Adjusted EBITDA was $16.1 million, representing 13.4% of net revenues.

FIGS, Inc. reported Q4 2022 net revenues of $144.9 million, a 12.6% increase year over year. Net income was $3.4 million, with diluted earnings per share of $0.02. The company's gross margin was 68.2%, and adjusted EBITDA was $19.8 million, or 13.6% of net revenues.

FIGS reported strong third-quarter results with a 25.2% increase in net revenues year-over-year, driven by growth in orders from both new and existing customers. While gross margin decreased due to higher freight costs and promotional sales, the company is focusing on product innovation and customer engagement strategies to navigate macroeconomic pressures and maintain market share.

FIGS, Inc. reported a 20.9% year-over-year increase in net revenues, reaching $122.2 million in Q2 2022. The company's net income was $4.9 million, and the adjusted EBITDA margin was 17.6%.

FIGS reported a 26.4% increase in net revenues to $110.1 million in Q1 2022. However, the company faced challenges with gross margin decreasing by 40 basis points and operating expenses increasing by 39.7%. Net income was $8.9 million, and diluted earnings per share was $0.05.

FIGS reported a 42.7% increase in net revenues to $128.7 million and a gross margin of 69.9% for the fourth quarter of 2021. Net income was $12.6 million, with diluted earnings per share of $0.06. The company's full-year net revenues reached $420 million, a 60% increase year-over-year.

FIGS reported its Q3 2021 financial results, highlighted by an increased full-year net revenue outlook to $410 million, compared to the previous outlook of $395 million.