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 ...

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 ...