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Dec 31, 2024
FIGS Q4 2024 Earnings Report
FIGS reported mixed financial results for the fourth quarter and full year 2024, with Q4 revenues exceeding expectations but overall 2024 results being mixed.
Key Takeaways
FIGS, Inc. announced its fourth quarter and full year 2024 financial results, with Q4 net revenues increasing by 4.8% year over year to $151.8 million, primarily driven by increased orders from existing customers. Net income for Q4 was $1.9 million, or $0.01 diluted earnings per share. For the full year 2024, net revenues grew by 1.8% to $555.6 million, and net income was $2.7 million, or $0.02 diluted earnings per share.
Q4 2024 net revenues increased by 4.8% year over year to $151.8 million, exceeding expectations.
Full year 2024 net revenues grew by 1.8% to $555.6 million.
Q4 2024 diluted EPS was $0.01, a decrease from $0.05 in the prior year period.
The company increased its share repurchase authorization by $50 million.
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
For the full year 2025, FIGS expects net revenues growth to be down low-single-digits compared to 2024, and adjusted EBITDA margin to be between 9.0% and 9.5%. The company plans to invest in emerging channels, brand and marketing, and reduce reliance on promotions.
Positive Outlook
- Investing with conviction and speed into emerging channels to accelerate long-term growth.
- Opportunities across brand and marketing to reinvigorate the customer funnel.
- Strong balance sheet and cash flow supporting efforts to return value to shareholders.
- Announced a $50 million increase in share repurchase program.
- Confidence in brand positioning, strategic focus, and long-term structural strength of the healthcare industry.
Challenges Ahead
- Planned reduction in promotions expected to negatively impact near-term top-line performance.
- Overall 2024 financial results were mixed.
- Industry and Company normalization coming out of the COVID overhang.
- Net revenues growth vs. 2024 is projected to be down low-single-digits.
- Adjusted EBITDA Margin is projected to be 9.0% to 9.5%, lower than 2024's 9.3%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income