NYSE$FIGS
FIGS Inc. · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Second quarter financial results released, exceeding Q2 2024 outlook and announcing a $50 million share repurchase authorization.
FIGS reported a 4.4% increase in net revenues to $144.2 million, with a gross margin of 67.4%. Operating expenses increased by 7.0% year over year. Net income was $1.1 million, or $0.01 in diluted earnings per share, and adjusted EBITDA was $12.9 million.
- Net revenues increased by 4.4% year over year to $144.2 million.
- Gross margin decreased to 67.4%, primarily from product mix shift.
- Operating expenses increased by 7.0% year over year.
- The company authorized a $50 million share repurchase program.
Headline financials
Revenue & EPS history
FIGS · Revenue · Quarterly
$144M
Forward guidance
For the full year 2024, FIGS expects net revenues to be flat to 2% growth versus 2023 and adjusted EBITDA margin to be 9.5% - 10%.
Tailwinds
- Net revenues are expected to grow slightly compared to the previous year.
- Adjusted EBITDA margin is projected to remain strong.
- Company's strategy of combining product innovation with top of funnel marketing
- Momentum into the second half of the year
- Partnership with Team USA Medical Team
Headwinds
- The company's ability to maintain its historical growth
- The company's ability to maintain profitability
- The company's ability to maintain the value and reputation of its brand
- The company's ability to attract new customers, retain existing customers, and to maintain or increase sales to those customers
- The success of the company’s marketing efforts
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 2024
+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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