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Dec 31, 2024
FIGS Q4 2024 Earnings Report
Expected Revenue:$119M
+1.3% YoY
Expected EPS:$0.01
50.0% YoY
Key Takeaways
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.
Net revenues increased by 4.8% year-over-year, reaching $151.8 million.
International net revenues saw a significant increase of 45.2% year-over-year.
Gross margin was 67.3%, a slight decrease of 20 basis points year-over-year.
Net income was $1.9 million, with diluted earnings per share of $0.01.
FIGS
FIGS
FIGS Revenue by Segment
FIGS Revenue by Geographic Location
Forward Guidance
FIGS anticipates net revenues growth to be down low-single-digits compared to 2024, with an adjusted EBITDA margin between 9.0% and 9.5%.
Positive Outlook
- Investing with conviction and speed into emerging channels.
- Accelerating growth over the long term.
- Opportunities across brand and marketing to reinvigorate customer funnel.
- Strong balance sheet and cash flow.
- Returning value to shareholders through share repurchase program.
Challenges Ahead
- Reduction in reliance on promotions.
- Expected negative impact on near-term top-line performance.
- Normalization coming out of the COVID overhang.
- Higher operational costs at our new fulfillment center.
- Higher shipping costs.