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Dec 31, 2021
FIGS Q4 2021 Earnings Report
FIGS experienced revenue growth and maintained strong gross margins in Q4 2021.
Key Takeaways
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.
Net revenues increased by 42.7% year over year to $128.7 million.
Gross margin was 69.9%, a decrease of 110 basis points year over year.
Net income was $12.6 million and diluted earnings per share was $0.06.
Adjusted EBITDA was $31.9 million, an increase of $10.5 million year over year.
Forward Guidance
FIGS expects net revenues between $550 million and $560 million, a gross margin of 70%+, and an adjusted EBITDA margin of 20%+ for the full year 2022.
Positive Outlook
- Net Revenues $550 Million - $560 Million
- Gross Margin 70%+
- Adjusted EBITDA Margin 20%+
- Company expects continued growth
- Company expects to maintain strong gross margins
Challenges Ahead
- Impact of COVID-19 on the Company’s operations
- Company’s ability to maintain its recent rapid growth
- Company’s ability to maintain profitability
- Company’s ability to maintain the value and reputation of its brand
- The competitiveness of the market for healthcare apparel
Historical Earnings Impact
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Avg. Return Before/After Earnings
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