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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
FIGS Revenue by Segment
FIGS Revenue by Geographic Location
Revenue by Segment
Scrubwear Revenue
CapyFin.comNon-Scrubwear Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comRest of the World Revenue
CapyFin.com Forward Guidance
The company expects demand to be impacted by macroeconomic factors and healthcare workforce related stress in 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income