Financial Data and Key Metrics Changes - Q4 net revenues increased by 33% year-over-year, surpassing $200 million for the first time in company history [8][26] - Full year net revenues reached a record $631.1 million, an increase of 14% year-over-year [33] - Adjusted EBITDA margin for Q4 was 13.2%, compared to 13.9% in the previous year [33] - Net income for Q4 was $18.5 million, or diluted EPS of $0.10, compared to $1.9 million or diluted EPS of $0.01 last year [33] Business Line Data and Key Metrics Changes - Scrub wear surged 35%, representing 77% of net revenues for Q4 [29] - Non-scrub wear increased by 26%, accounting for 23% of net revenues [29] - Average order value (AOV) increased by 9% to $126, driven by higher average unit retail and units per transaction [27] Market Data and Key Metrics Changes - U.S. net revenues increased by 29% to $164.2 million, while international net revenues grew by 55% to $37.7 million [30] - International growth was primarily driven by existing markets, with notable performance in Canada, Mexico, and ongoing success in the Middle East and Europe [31] Company Strategy and Development Direction - The company aims to be the leading premium healthcare uniform provider globally, focusing on product innovation, community engagement, and market expansion [5][12] - Plans for 2026 include elevating core products through fabric innovation and expanding into new categories beyond scrubs [13][14] - The company is expanding its community hubs, with plans to open four new locations in 2026 [54][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position, citing strong demand for healthcare professionals and a favorable operating environment post-COVID [11][66] - The company anticipates net revenue growth of 10%-12% year-over-year for fiscal 2026, driven by sustained active customer momentum [38] - Gross margins are expected to improve modestly year-over-year, despite ongoing tariff pressures [39] Other Important Information - The company ended 2025 with a record net cash position of $300.8 million [34] - A $5.6 million inventory write-off was taken in Q4 to address older inventory issues [36] Q&A Session Summary Question: Can you talk about the flow through from the just completed Olympics and the strength of the community hubs? - Management highlighted the success of the Winter Olympics campaign and the positive impact of community hubs, with plans to open four new locations in 2026 [47][51] Question: Can you provide color on the progression of Q4 and into January, particularly in international markets? - Management noted strong momentum in international markets, particularly in Mexico and Canada, with positive indicators for Q1 [58] Question: How much of the sales acceleration is due to FIGS' specific efforts versus easing sector pressures? - Management indicated that both execution and a normalization in the industry contributed to sales acceleration [66] Question: What are the expectations around new customer growth in 2026? - Management expects continued growth in new customer acquisition, reactivation, and retention rates [85] Question: How did international margins shape up in 2025 versus the prior year? - Management confirmed that all international markets are profitable after the first year, with expectations for improved margins as the customer base matures [86]

Q4 and Full Year 2025 Earnings Presentation M A U R I C I O G . , M D 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 speaks only as ...