FIGS(US:FIGS)2023-08-10 13:58Financial 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]