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 ...

FIGS, Inc. (NYSE:FIGS) Q4 2022 Earnings Conference Call February 28, 2023 5:00 PM ET Company Participants Jean Fontana - SVP, Investor Relations Trina Spear - Co-CEO Daniella Turenshine - CFO Conference Call Participants Mike Binetti - Credit Suisse Ed Yruma - Piper Sandler Lauren Schenk - Morgan Stanley Brian Nagel - Oppenheimer Brooke Roach - Goldman Sachs Alice Xiao - Bank of America Merrill Lynch Dana Telsey - Telsey Advisory Group Bob Drbul - Guggenheim Partners Krista Zuber - Cowen and Company Rick Pa ...

Table of Contents Net revenues consist of sales of healthcare apparel, footwear and other products primarily through our digital platform. We recognize product sales at the time control is transferred to the customer, which is when the product is shipped to the customer. Net revenues represent the sale of these items and shipping revenue, net of estimated returns and discounts. Net revenues are primarily driven by the growth in the number of active customers, the frequency with which customers purchase and ...

Financial Data and Key Metrics Changes - The company reported a net revenue growth of 25% year-over-year, reaching $129 million compared to $103 million in Q3 2021 [39] - Gross margin was 70.6%, down from 72.7% in Q3 2021, primarily due to increased freight costs and a higher mix of promotions [42] - Adjusted EBITDA margin was 16.4%, compared to 21.6% in Q3 2021, with adjusted net income of $4.1 million [48] Business Line Data and Key Metrics Changes - Active customers increased by 24% to 2.2 million, with a record level of customer reactivation [8][39] - Average order value (AOV) grew by 10% year-over-year, driven by higher units per transaction (UPT) and an increase in average unit retail (AUR) [40] - Lifestyle offerings generated a sales growth of 65% in the quarter, accounting for 17% of net revenue [9][117] Market Data and Key Metrics Changes - The international business saw a strong performance with a 49% increase in net revenue, particularly in Canada, the U.K., and European markets [35] - The company has penetrated approximately 10% of U.S. healthcare professionals, indicating significant growth potential [24] Company Strategy and Development Direction - The company is focusing on product innovation, particularly in scrubs and lifestyle offerings, to enhance customer engagement and meet healthcare professionals' needs [14][20] - Strategic investments will continue to advance the company's leadership position in the healthcare apparel industry while managing costs [13][38] - The company plans to expand its international presence and enhance customer experience through localized marketing campaigns [36][37] Management's Comments on Operating Environment and Future Outlook - Management noted that macroeconomic trends, including inflation, are impacting customer purchasing behavior, leading to a decrease in purchase frequency [11][41] - The company expects fourth-quarter net revenue growth to be in the mid-single-digit range, reflecting ongoing challenges in the macro environment [54] - Management remains committed to long-term growth strategies, including product innovation and international expansion, despite short-term challenges [62] Other Important Information - The company plans to soft launch extended sizes (3XL to 6XL) to address an underserved segment of the healthcare community [23] - A new mobile app has been launched to enhance customer engagement and provide relevant educational content [31] Q&A Session Summary Question: Updated guidance for Q4 and current business trends - Management indicated that the forecast for Q4 reflects trends observed at the end of September, with a decrease in frequency and slightly lower AOV year-over-year [66][67] Question: Response to color launches and customer behavior - Management acknowledged that while color launches still drive sales, they are adjusting their strategy to align with demand trends and focusing on product innovation [70][74] Question: Change in accounting for charitable contributions - The company updated its accrual methodology for charitable contributions, impacting the P&L by about 190 basis points, which is not expected to repeat [78] Question: $1 billion revenue target by 2025 - Management remains focused on the $1 billion target but acknowledges macro volatility may affect timing, while highlighting opportunities in product innovation and international expansion [79][84] Question: Inventory management and future sales expectations - Management expects to improve inventory positioning by mid-2023 through shallow buys and enhanced supply chain strategies [95][96] Question: Growth opportunities in the Teams business - The Teams business is seen as a significant growth opportunity, especially with the introduction of extended sizes [102][103]

FARIDA L., BSN RN FARIDA L., BSN RN Q3 Earnings Presentation 2022 Disclaimer Nothing contained in this presentation is, or should be construed as, a recommendation, promise or representation by FIGS, Inc. (the "Company") or any officer, director, employee, agent or advisor of the Company. This presentation does not purport to be all inclusive or to contain all of the information you may desire in connection with your investigation of the Company. Information provided in this presentation speak only as of th ...