NYSE$FIGS
FIGS Inc. · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Reported a revenue increase driven by higher average order values and strength in lifestyle products, but faced challenges due to increased operating expenses and supply chain issues.
FIGS reported a 26.4% increase in net revenues to $110.1 million in Q1 2022. However, the company faced challenges with gross margin decreasing by 40 basis points and operating expenses increasing by 39.7%. Net income was $8.9 million, and diluted earnings per share was $0.05.
- Net revenues increased by 26.4% year-over-year to $110.1 million.
- Gross margin decreased by 40 basis points year-over-year to 71.2%.
- Operating expenses increased by 39.7% year-over-year to $64.7 million.
- Net income was $8.9 million and diluted earnings per share was $0.05.
Headline financials
Revenue & EPS history
FIGS · Revenue · Quarterly
$110M
Forward guidance
FIGS expects net revenues to be in the range of $510 to $530 million, representing year-over-year growth of approximately 22% to 26%. Gross margin is expected to be in the range of 67% to 68%, and adjusted EBITDA margin is expected to be in the range of 16% to 18%.
Tailwinds
- Net revenues are expected to grow approximately 22% to 26% year-over-year.
- Company is focused on balancing continued investment.
- Company aims to mitigate supply chain challenges.
- Company is focused on near-term impact on gross margin.
- Gross margin is expected to be in the range of 67% to 68%.
Headwinds
- Supply chain challenges are impacting the outlook.
- Broader macroeconomic factors, including high inflation, are affecting the outlook.
- Shifts in consumer spending patterns are impacting the outlook.
- Gross margin is expected to be lower than previously anticipated due to increased use of air freight.
- Adjusted EBITDA margin is expected to be lower than previously anticipated.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
+0.0%
Avg return
Earnings day
-0.5%
Avg return
5 days after
+0.7%
Avg return
30 days after
61%
14 / 23 earnings
Positive
+28.7%
Q3 2023
Best reaction
-25.4%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +6.0% | -20.7% | -18.1% | |
| Q4 2025 | +23.5% | +36.1% | +17.9% | |
| Q3 2025 | +14.1% | +33.2% | +52.0% | |
| Q1 2025 | -1.7% | -13.5% | -12.2% | |
| Q4 2024 | -18.1% | -13.3% | -15.8% | |
| Q3 2024 | -25.4% | -26.5% | -20.6% | |
| Q2 2024 | -11.0% | -12.1% | +4.3% | |
| Q1 2024 | +4.7% | +16.5% | +6.2% | |
| Q4 2023 | -12.2% | -7.2% | -16.4% | |
| Q3 2023 | +28.7% | +21.4% | +41.8% | |
| Q2 2023 | +1.3% | -2.9% | -11.0% | |
| Q1 2023 | +7.2% | +10.2% | +18.1% | |
| Q4 2022 | -25.1% | -25.7% | -32.8% | |
| Q3 2022 | +15.6% | +10.7% | +23.7% | |
| Q2 2022 | +3.4% | +3.3% | +0.6% | |
| Q1 2022 | -21.8% | -17.4% | -37.1% | |
| Q4 2021 | +27.5% | +22.0% | +64.5% | |
| Q3 2020 | -15.1% | -16.1% | -38.7% | |
| Q3 2021 | -15.1% | -16.1% | -38.7% | |
| Q2 2020 | +3.6% | +1.5% | +6.8% | |
| Q1 2021 | +3.6% | +1.5% | +6.8% | |
| Q2 2021 | +3.6% | +1.5% | +6.8% | |
| Q4 2020 | +3.6% | +1.5% | +6.8% | |
| Q1 2020 | — | — | — |
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