Shares of healthcare apparel company Figs (FIGS -16.42%) plunged on Thursday after the company reported financial results for the fourth quarter of 2023. As of noon ET, Figs stock was down about 15%. This former market darling is now down 90% from its all-time high in 2021.A tale of two expectations for FigsIn the previous quarter, Figs' management said it expected full-year 2023 revenue to be down 8.5% from 2022. But Q4 net revenues of $145 million came in better than management's guidance. Full-year net r ...

For the quarter ended December 2023, Figs (FIGS) reported revenue of $144.92 million, up 0% over the same period last year. EPS came in at $0.05, compared to $0.05 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $149.64 million, representing a surprise of -3.15%. The company delivered an EPS surprise of +150.00%, with the consensus EPS estimate being $0.02.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street exp ...

1 To celebrate, empower & serve those who serve others This presentation also contains estimates and other statistical data relating to the Company's industry and estimated total addressable market. Such estimates and data are based on studies, publications, and surveys obtained from third-party sources and the Company's own internal estimates and research. While the Company believes these third-party sources and the Company's internal estimates and own research to be reliable as of the date of this present ...

Figs (FIGS) came out with quarterly earnings of $0.05 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to earnings of $0.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 150%. A quarter ago, it was expected that this health care apparel company would post earnings of $0.02 per share when it actually produced earnings of $0.03, delivering a surprise of 50%.Over the last four quarters, the comp ...

FIGS Releases Fourth Quarter and Full Year 2023 Financial Results 2023 Net Revenues Growth of 7.9% YoY, Net Income of $22.6 million, Net Income Margin of 4.1% and Adjusted EBITDA Margin of 15.8% Fourth quarter and full year 2023 financial results reflect a $4.7 million accounting reclassification between net revenues and selling expense related to duty subsidies for customers in Canada (the "Reclassification"). • Net revenues were $144.9 million, flat year over year. The Reclassification negatively impacted ...

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 ...

Financial Data and Key Metrics Changes - Net revenues grew 11% year-over-year, reaching $142.4 million compared to $128.6 million in Q3 2022, driven by a nearly 20% increase in active customers [5][29] - Adjusted net income was $6.3 million, with diluted EPS as adjusted at $0.03, compared to $4.1 million and $0.02 in Q3 2022 [15][52] - Adjusted EBITDA for Q3 was $24.4 million, resulting in an adjusted EBITDA margin of 17.2%, up from 16.4% in Q3 2022 [15][54] - Gross margin for Q3 was 68.4%, down from 70.6% in Q3 2022, primarily due to product mix shift [13][54] - Free cash flow was $46 million for the quarter, reflecting strong cash generation capabilities [16][18] Business Line Data and Key Metrics Changes - The B2B business saw strong performance with increasing orders from institutions, contributing to overall revenue growth [5][27] - Non-scrub wear categories, including footwear, grew 26.4%, representing 19.3% of net revenues compared to 16.9% in the same period last year [51] - Average order value (AOV) increased nearly 2% year-over-year, driven by higher units per transaction [29] Market Data and Key Metrics Changes - International revenues grew by a record 81%, with strong performance in established markets like Canada, the UK, and Australia [5][10] - The company added seven new countries to its market presence, including Poland, Kuwait, and Singapore, indicating strong grassroots demand [27] Company Strategy and Development Direction - The company is focused on product innovation to solve real-world problems for healthcare professionals, emphasizing functionality, comfort, and style [6][32] - A new permanent retail store, referred to as a community hub, is set to open, aimed at enhancing customer engagement and providing a space dedicated to healthcare professionals [11][28] - The company is diversifying its sourcing strategy to improve lead times and mitigate risks, while also investing in technology to enhance the B2B platform [32][57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth potential despite current macroeconomic uncertainties, highlighting a healthy balance sheet with no debt [18][56] - The company anticipates continued challenges in consumer spending due to macroeconomic factors, but expects to offset this with new customer acquisitions [42][53] - Management raised full-year guidance for net revenue growth to approximately 8.5% and adjusted EBITDA margin to about 14% [54] Other Important Information - The company is committed to maintaining a disciplined promotional strategy to protect brand integrity while responding to customer demand [106] - The fulfillment enhancement project is expected to incur approximately $2 million in initial start-up costs, impacting selling expenses in the near term [39][87] Q&A Session Summary Question: Changes in consumer behavior trends - Management noted a hangover effect from pandemic stocking, leading to lower repeat purchase frequency, but expects normalization over time [42] Question: Inventory rationalization and future cadence - The company is on track to deliver approximately 25 weeks of supply by year-end, with plans to return to a normalized level of 16 to 20 weeks in 2024 [65][73] Question: Community hub intentions and metrics - The community hub is designed as a fully stocked retail space for healthcare professionals, not just a showroom, with plans for community engagement [79][93] Question: International business performance and future plans - Management highlighted successful localization strategies and plans to continue opportunistic expansion into new markets while investing in existing ones [105] Question: Outlook for promotional events - The company plans to maintain discipline around promotional events, adjusting strategies based on inventory and customer spending [106]

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 ...