32 Table of Contents transaction volume, as well as surges in online traffic and orders associated with promotional activities or seasonal trends in our business, place additional demands on our technology platform and could cause or exacerbate slowdowns or interruptions. If there is a substantial increase in the volume of traffic on our website or the number of orders placed by customers, we will be required to further expand, scale and upgrade our IT Systems. There can be no assurance that we will be able ...

SANTA MONICA, Calif.--(BUSINESS WIRE)--FIGS, Inc. (NYSE: FIGS), the direct-to-consumer apparel and lifestyle brand dedicated to the healthcare community, today announced it will release its fourth quarter and full year 2023 financial results on Wednesday, February 28, 2024, after U.S. markets close. FIGS management will host a conference call that day at 2:00 p.m. PT / 5:00 p.m. ET to discuss its financial and business results and outlook. Prior to the call, FIGS will publish a fourth quarter and full year ...

Investors looking for stocks in the Retail - Apparel and Shoes sector might want to consider either Gap (GPS) or Figs (FIGS) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks ...

Table of Contents x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FIGS, Inc. (Exact Name of Registrant as Specified in its Charter) (424) 300-8330 (Registrant's telephone number, including area code) N/A (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the ...

Financial Performance - Net revenues reached $258.4 million, an increase of 11% year-over-year[7,8] - Gross margin was 69.5%, up 13% year-over-year[5,6] - Adjusted EBITDA margin was 13.7%, a decrease of 6% year-over-year[11,12] - Net income was $4.6 million, representing 3.4% of net revenues, a decrease of 110 bps year-over-year[25,26,77] Key Operating Metrics - International net revenues grew 52% year-over-year in Q2 2023[17] Strategic Initiatives - FIGS is expanding its presence internationally, including in Mexico, the Philippines, and Saudi Arabia[17] - FIGS plans to open a retail store in Century City Shopping Center in Los Angeles in September 2023[20] - FIGS is upgrading its TEAMS platform to accelerate growth, targeting the 15% of U S healthcare professionals who receive scrubs through their institutions[19] Full Year Outlook - The company anticipates net revenues growth between 5.5% and 7.5% compared to 2022[71] - The company projects an adjusted EBITDA margin between 12.5% and 13.5%[71]

Financial Data and Key Metrics Changes - The company reported a 13% increase in net revenues, reaching $138.1 million compared to $122.2 million in Q2 of the previous year, driven by a 21% growth in active customer base [29][12][28] - Adjusted EBITDA for Q2 was $18.9 million, resulting in an adjusted EBITDA margin of 13.7%, down from 17.6% in Q2-22 [33][12] - Gross margin for Q2 was 69.5%, slightly below the previous year's 70.6%, primarily due to product mix and higher promotional sales [30][12] Business Line Data and Key Metrics Changes - The scrubs business accounted for over 80% of net revenues, with non-scrubs contributing to a 25% growth in net revenue [14][12] - The team's business is growing rapidly, now tracking to approximately mid-single digits percentage of net revenues, primarily from inbound requests [8][12] Market Data and Key Metrics Changes - International net revenue increased by 52% compared to the same quarter last year, indicating successful localization strategies [5][12] - The company expanded its market presence by entering Mexico, the Philippines, and Saudi Arabia, with results exceeding expectations even without marketing support [6][12] Company Strategy and Development Direction - The company aims to maintain a disciplined promotional cadence while focusing on brand protection and long-term growth [3][12] - Plans to enhance the retail strategy include opening new stores in key healthcare markets, with a focus on community engagement [19][12] - The company is committed to product innovation and expanding its layering system to meet the diverse needs of healthcare professionals [14][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's resilience despite macroeconomic challenges, emphasizing a focus on long-term strategies and disciplined expense management [28][12] - The outlook for the third quarter anticipates flat to low single-digit growth due to tough comparisons from the previous year [36][12] Other Important Information - The company is on track to normalize inventory levels, with a target of approximately 25 weeks of supply by year-end [13][12] - Free cash flow for Q2 was reported at $29 million, with expectations for positive cash flow to continue for the remainder of the year [34][12] Q&A Session Summary Question: What are the expectations for inventory in the third and fourth quarters? - Management indicated a significant reduction in inventory is expected in the third quarter, with a focus on bringing down receipts while still delivering new products [25][24] Question: What are the drivers behind average order value (AOV)? - AOV increased by 5.5% to $115, driven by a higher mix of team sales and the expansion of the layering system [29][26] Question: How is the company addressing consumer purchasing patterns? - Management noted that while new customer growth is strong, existing customers are taking longer between purchases, but when they do purchase, they are spending more [66][12] Question: What is the strategy for the team's business moving forward? - The team's business is expected to grow as the company enhances its platform and product offerings, allowing for a wider assortment beyond scrubs [95][12] Question: How does the company plan to manage promotional strategies? - The company plans to maintain a disciplined promotional approach, focusing on sustainable growth without relying heavily on promotions [75][12]

Table of Contents For the quarterly period ended June 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number: 001-40448 (424) 300-8330 (Registrant's telephone number, including area code) N/A (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Large accelerated filer x Accele ...

FIGS, Inc. (NYSE:FIGS) Q1 2023 Earnings Conference Call May 4, 2023 5:00 PM ET Company Participants Jean Fontana – Head-Investor Relations Trina Spear – Co-Founder and Chief Executive Officer Daniella Turenshine – Chief Financial Officer Conference Call Participants Ed Yruma – Piper Sandler Alice Xiao – Bank of America John Kernan – TD Cowen Brooke Roach – Goldman Sachs Matt Koranda – ROTH/MKM Bob Drbul – Guggenheim Dana Telsey – Telsey Advisory Group Rick Patel – Raymond James Brian Nagel – Oppenheimer Adr ...

○ Create seamless, personalized shopping experience through website and mobile app ● Invest in Infrastructure Advocacy and Giving Back Released our 2022 Impact Report to demonstrate all the ways we give back to the healthcare community and show up for them every day Financials SCRUBWEAR / NON-SCRUBWEAR US / INTERNATIONAL +14% YoY +45% YoY ● Q1 2023 Operating Expense ● The increase in marketing expense as a percentage of net revenues was primarily due to increased investment in digital marketing, particularl ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q For the quarterly period ended March 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number: 001-40448 FIGS, Inc. (Exact Name of Registrant as Specified in its Charter) (424) 300-8330 (Registrant's telephone number, including area code) N/A (Former name, former address and former fisc ...