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Dec 31, 2023
FIGS Q4 2023 Earnings Report
Reported flat year-over-year net revenues, increased net income, and improved adjusted EBITDA margin.
Key Takeaways
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%.
Net revenues were $144.9 million, flat year over year, impacted by a $4.7 million accounting reclassification.
Gross margin was 67.5%, a decrease of 70 basis points year over year, impacted by a $4.7 million accounting reclassification.
Net income was $10.0 million, an increase of $6.6 million year over year.
Adjusted EBITDA was $26.6 million, an increase of $6.8 million year over year.
FIGS
FIGS
Forward Guidance
The company expects demand to be impacted by macroeconomic factors and healthcare workforce related stress in 2024.