Figs Inc Stock Price, News & Analysis

FIGS (NYSE: FIGS), the global leading healthcare apparel brand, has scheduled its fourth quarter and full year 2024 financial results release for Thursday, February 27, 2025, after U.S. markets close. The management will host a conference call at 2:00 p.m. PT / 5:00 p.m. ET on the same day to discuss financial results, business performance, and outlook.

Prior to the call, FIGS will publish a financial highlights presentation on its investor relations website. A replay of the call will be available until March 6, 2025. The company will use its investor relations website, press releases, SEC filings, and public conference calls to distribute information and comply with Regulation FD disclosure obligations.

Applied Fundamental Research, a long-term shareholder of FIGS, has issued an open letter to the company's management and Board of Directors. The letter commends FIGS' transformation of the healthcare apparel market and outlines recommendations for unlocking shareholder value. The company has achieved notable milestones, including:

- Growing Net Active Customer count by over 500,000
- Managing inventory balance while maintaining brand integrity
- Strengthening leadership through new hires
- Launching the Extremes campaign and Olympic sponsorship

The letter emphasizes the need for a clearly articulated capital allocation strategy, suggesting FIGS should define capital requirements for growth initiatives, prioritize investments, and execute share repurchases to take advantage of current market valuations.

FIGS (NYSE: FIGS), the global healthcare apparel brand, has announced changes to its Board of Directors. Melanie Whelan, former CEO of SoulCycle Inc., will join the board as an independent director effective January 1, 2025. Whelan will serve as Chair of the Board's Compensation Committee and join the Nominating and Corporate Governance Committee. She currently serves as Managing Director at Summit Partners and brings extensive executive experience from roles at SoulCycle, Equinox Holdings, Virgin Management, and Starwood Hotels & Resorts.

The company also announced that A.G. Lafley, who has served on the Board since April 2022, will resign effective December 31, 2024. CEO Trina Spear highlighted Whelan's valuable experience in scaling physical retail presence, which aligns with FIGS' Community Hubs growth strategy.

FIGS released its Q3 2024 financial results, reporting net revenues of $140.2 million, a 1.5% YoY decrease due to a reduction in average order value (AOV). Gross margin fell to 67.1%, impacted by higher discounts and product mix shifts. Operating expenses rose by 17.4% to $102.7 million, driven by increased marketing and fulfillment center transition costs. The company reported a net loss of $1.7 million, down $7.8 million YoY, with a net income margin of -1.2%. Adjusted EBITDA decreased by $19.6 million to $4.8 million. Active customers grew by 3.8% to 2.7 million, but net revenues per active customer and AOV decreased by 3.3% and 5.3%, respectively. FIGS also announced a $25 million minority investment in OOG, an AI-powered platform for healthcare professionals. For FY 2024, FIGS expects net revenues to be down 1% to flat and an adjusted EBITDA margin of ~8%.

FIGS, Inc. (NYSE: FIGS), the global leading healthcare apparel brand, has announced its schedule for the third quarter 2024 financial results release and conference call. The company will release its Q3 2024 financial results on Thursday, November 7, 2024, after U.S. markets close. FIGS management will host a conference call at 2:00 p.m. PT / 5:00 p.m. ET on the same day to discuss the results and outlook.

Prior to the call, FIGS will publish a Q3 2024 financial highlights presentation on its investor relations website. The conference call will be accessible via phone and webcast, with replay options available until November 14, 2024. FIGS uses its investor relations website, press releases, SEC filings, and public conference calls and webcasts to distribute information and comply with Regulation FD disclosure obligations.

FIGS, Inc. (NYSE: FIGS), the leading global healthcare apparel brand, has opened its second retail store, the Rittenhouse Community Hub, in Philadelphia on September 19. This expansion follows the success of FIGS' first hub in Los Angeles. The new 4,200 square-foot store is designed to reimagine the retail experience for healthcare professionals, offering a shopping area, embroidery workshop, lounge, and café.

Philadelphia, with its high concentration of healthcare professionals and institutions, was chosen strategically. The hub aims to connect the local healthcare community and provide opportunities for professionals to engage with FIGS and each other. This move aligns with FIGS' mission to serve those who serve others and represents a step towards an omnichannel strategy combining online and offline experiences.

FIGS, Inc. (NYSE: FIGS), the leading global healthcare apparel brand, has announced its participation in the Goldman Sachs 31st Annual Global Retailing Conference. Trina Spear, CEO and Co-Founder of FIGS, is scheduled to engage in a fireside chat on Wednesday, September 4, 2024, at 11:00 a.m. ET. The audio portion of this discussion will be webcast live and can be accessed through the company's investor relations website at https://ir.wearfigs.com. An online archive of the fireside chat will remain available on the site for 90 days following the event.

FIGS Inc. (NYSE: FIGS), a global healthcare apparel brand, reported Q2 2024 financial results with net revenues of $144.2 million, a 4.4% increase year-over-year. However, the gross margin declined 2.1% to 67.4%, mainly due to a product mix shift. Operating expenses rose by 7.0% to $95.7 million, driven by higher selling and marketing expenses.

Net income fell to $1.1 million or $0.01 per share, a $3.5 million decrease compared to the previous year. Adjusted EBITDA also dropped by $6.0 million to $12.9 million.

The Board authorized a $50 million share repurchase program, reflecting confidence in the company's financial position. For full-year 2024, FIGS expects net revenues to be flat to 2% growth and Adjusted EBITDA margin to range between 9.5% and 10%.

FIGS, Inc. (NYSE: FIGS), the leading global healthcare apparel brand, has announced its second quarter 2024 financial results release date. The company will publish its results on Thursday, August 8, 2024, after U.S. markets close. FIGS management will host a conference call at 2:00 p.m. PT / 5:00 p.m. ET on the same day to discuss financial and business results and outlook.

Prior to the call, FIGS will publish a financial highlights presentation on its investor relations website. The live call can be accessed at (833) 470-1428 (US) or +1 404 975 4839 (International) with Conference ID: 061510. A replay will be available until August 15, 2024. The webcast can be accessed through the company's investor relations website.