NYSE$FIGS

FIGS Inc. · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

Net revenues and adjusted EBITDA results delivered ahead of expectations.

FIGS, Inc. reported a 20.9% year-over-year increase in net revenues, reaching $122.2 million in Q2 2022. The company's net income was $4.9 million, and the adjusted EBITDA margin was 17.6%.

  • Net revenues increased by 20.9% year-over-year to $122.2 million.
  • Gross margin decreased to 70.6%, a decrease of 270 basis points year over year.
  • Net income was $4.9 million, with diluted earnings per share at $0.03.
  • Active customers increased by 26.2% to 2.0 million.

Headline financials

Total Revenue

$122M

Previous: $101M+20.9%
EPS (adj)

$0.03

Previous: $0.08-62.5%
Active Customers

2.0M

Previous: 1.6M+26.2%
Net Revenues per Active Customer

$227.00

Previous: $219.00+3.7%
Average Order Value

$109.00

Previous: $103.00+5.8%
Adjusted EBITDA Margin

17.6%

Previous: 26.5%-33.6%
Capital Expenditures

-$1.73M

Previous: $1.02M-268.8%
Free Cash Flow

$3.13M

Previous: -$40.5M+107.7%
Net Income

$4.85M

Previous: -$40.5M+112.0%
Operating Income

$9.45M

Previous: -$32.1M+129.5%
Gross Profit

$86.3M

Previous: $74.2M+16.4%
Cash & Equivalents

$170M

Previous: $164M+3.8%
Total Assets

$354M

Previous: $254M+39.1%
Stock-Based Comp

$8.78M

Previous: $56M-84.3%

Revenue & EPS history

FIGS · Revenue · Quarterly

$122M

Q2 2022+20.9%vs Q2 2021
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Forward guidance

FIGS is maintaining its net revenues outlook in the range of $510 to $530 million, representing year-over-year growth of approximately 22% to 26%, and adjusted EBITDA margin outlook in the range of 16% to 18%.

Tailwinds

  • Net revenues outlook maintained in the range of $510 to $530 million.
  • Year-over-year growth of approximately 22% to 26% expected.
  • Adjusted EBITDA margin outlook maintained in the range of 16% to 18%.

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 Q2 2022

Historical avgQ2 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

Earnings price reactions
QuarterReport dateReaction (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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