Surprising, right? (2) Net income, as adjusted, diluted earnings per share, as adjusted, adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures. FIGS, Inc. (NYSE: FIGS) (the Company), the direct-to-consumer healthcare apparel and lifestyle brand, today released its first quarter 2022 financial results and published a financial highlights presentation on its investor relations website at ir.wearfigs.com/financials/quarterly-results. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. The Company calculates net revenues per active customer as the sum of the total net revenues in the preceding 12-month period divided by the current period active customers. The Company calculates average order value as the sum of the total net revenues in a given period divided by the total orders placed in that period. Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Changes in operating assets and liabilities: Net cash (used in) provided by operating activities, Proceeds from issuance of Class A common stock in initial public offering, net of underwriting discounts, Payments of initial public offering issuance costs, net of reimbursements, Proceeds from stock option exercises and employee stock purchases, Tax payments related to net share settlements on restricted stock units, Net cash provided by financing activities, Net (decrease) increase in cash, cash equivalents, and restricted cash, Cash, cash equivalents, and restricted cash, beginning of period, Cash, cash equivalents, and restricted cash, end of period, RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES. Women. The absence of these words does not mean that a statement is not forward-looking. Nine months ended (3) Represents certain legal fees incurred in connection with the litigation claims described in the section titled Legal Proceedings appearing in the Companys Quarterly Report on Form 10-Q for the quarter ended March 31, 2022. If you experience any issues with this process, please contact us for further assistance. We also use third-party cookies that help us analyze and understand how you use this website. I was able to get my hands on a few styles and wanted to share my opinions and review of them with you. The absence of these words does not mean that a statement is not forward-looking. The Company calculates net income, as adjusted, as net income adjusted to exclude transaction costs, expenses related to non-ordinary course disputes, stock-based compensation, including expense related to award modifications, accelerated performance awards and ambassador grants in connection with its initial public offering, and expense resulting from the retirement of the Company's previous CFO, and the income tax impact of these adjustments. FIGS Releases Third Quarter 2022 Financial Results. IR@wearfigs.com. ET to discuss the Companys financial and business results and outlook. Listen to our Podcast,The Burnout Doctor Podcast. We market and sell our products directly through our digital platform to provide a seamless experience for healthcare professionals. To access the replay, please dial 1-866-813-9403 (US) or +44-204-525-0658 (International). Outfit Inspiration: 5 Easy Fall Outfit Ideas, Best Leather Jacket Alternative | Black Twill Moto Jacket, 2 Go-To Dresses for Any Occasion: LBD + Lace, Ultimate Holiday Gift Guide: Gifts for Healthcare Professionals, FIGS Scrubs Petite vs. Lets take a moment to talk about quality. Nov 10, 2022 4:05PM EST. (1) Represents certain legal fees incurred in connection with the litigation claims described in the section titled Legal Proceedings appearing in the Companys Quarterly Report on Form 10-Q for the quarter ended September 30, 2022. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. The Company uses net income, as adjusted, diluted earnings per share, as adjusted, adjusted EBITDA and adjusted EBITDA margin to provide useful supplemental measures that assist in evaluating its ability to generate earnings, provide consistency and comparability with its past financial performance and facilitate period-to-period comparisons of its core operating results as well as the results of its peer companies. Unfortunately, I wasnt able to pick up those colors fast enough and am waiting for my size to come back in stock! What is the best oil stock to buy right now? Net Revenues Growth of What are the FIGS limited edition colors? To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. These are offered in every style we release.24 Mar 2021. What are all the Figs scrub colors? The Company calculates adjusted EBITDA margin by dividing adjusted EBITDA by net revenues. The Company calculates active customers as unique customer accounts that have made at least one purchase in the preceding 12-month period. I continue to highly recommend FIGS Scrubs and hope you have enjoyed reading (or watching on my YouTube channel) my blog posts onFIGS. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are included below under the heading Reconciliations of GAAP to Non-GAAP Measures.. Burgundy. For Full-Year 2022, the Company now expects: Daniella Turenshine, Chief Financial Officer, commented, We have a strong balance sheet and are financially well positioned to navigate this environment, said Daniella Turenshine, Chief Financial Officer. We create technically advanced apparel and products for healthcare professionals that feature an unmatched combination of comfort, durability, function, and style. Net revenues were $128.6 million, an increase of 25.2% year over year, driven by an increase in orders from existing and new customers and, to a lesser extent, an increase in AOV. They continue to wear FIGS scrubs on a near daily basis (sometimes required to wear operating room or sterile-approved hospital scrubs for procedure/surgery settings) and their items have endured a lot of wear and abuse. With frequency trends continuing to slow largely due to sustained macroeconomic pressures, we are adjusting our plans to focus even more on product innovation and customer engagement strategies, while managing cost pressures. Gross margin was 71.2%, a decrease of 40 basis points year over year, driven by higher air freight spend as well as increased ocean and air freight rates . Photo by - https://multivu.com. Non-GAAP Financial Measures and Key Operating Metrics. This means, purchasing an item through one of my links may earn me a small commission without affecting your own purchase. FIGS is a founder-led, direct-to-consumer healthcare apparel and lifestyle brand that seeks to celebrate, empower, and serve current and future generations of healthcare professionals. SANTA MONICA, Calif.--(BUSINESS WIRE)-- So, 5 shifts=6 sets of scrubs. The Company uses net income, as adjusted, diluted earnings per share, as adjusted, adjusted EBITDA and adjusted EBITDA margin to provide useful supplemental measures that assist in evaluating its ability to generate earnings, provide consistency and comparability with its past financial performance and facilitate period-to-period comparisons of its core operating results as well as the results of its peer companies. You can change your choices at any time by visiting your privacy controls. November 6, 2022; Introducing our NEW color, Hydrogreen! FIGS Releases First Quarter 2022 Financial Results, ir.wearfigs.com/financials/quarterly-results. (In thousands, except share and per share data), September 30, By providing your email address below, you are providing consent to FIGS, Inc to send you the requested Investor Email Alert updates. Please see the sections titled Non-GAAP Financial Measures and Key Operating Metrics and Reconciliations of GAAP to Non-GAAP Measures below for more information regarding the Companys use of non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures. Required fields are marked *. But opting out of some of these cookies may affect your browsing experience. The following table presents a reconciliation of Net income, as adjusted and Diluted earnings per share, as adjusted to Net income (loss), which is the most directly comparable financial measure calculated in accordance with GAAP: (in thousands, except share and per share data), Expenses related to non-ordinary course disputes(1), Stock-based compensation expense in connection with the IPO and other(2), Weighted-average shares used to compute Diluted EPS, as adjusted(3). These items include, but are not limited to, future stock-based compensation expense, income taxes, expenses related to non-ordinary course disputes, and transaction costs. Figs scrubs are also known to be breathable, quick-drying, and offer protection against liquid spills. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Tumble dry at low heat or lay flat. (3) Active customers, net revenues per active customer and average order value are key operational and business metrics that are important to understanding the Company's performance. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking. FIGS management will host a conference call and webcast today at 2:00 p.m. PT / 5:00 p.m. This press release contains various forward-looking statements about the Company within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are based on current management expectations, and which involve substantial risks and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, such forward-looking statements. The forward-looking statements in this press release speak only as of the time made and the Company does not undertake to update or revise them to reflect future events or circumstances. Inspired by all the ways you GO fast, slow, get 'em, 'til you drop, for. We, Yahoo, are part of the Yahoo family of brands. Read on to check out the improvements weve made and what it means for you! and it has a sweet and fruity flavor that is slightly different from the typical fig. (3) We adjust the weighted-average number of shares outstanding for the dilutive effect of potential common equivalent shares in each period presented. Total orders are the summation of all completed individual purchase transactions in a given period. The following important factors and uncertainties, among others, could cause actual results, performance or achievements to differ materially from those described in these forward-looking statements: the impact of COVID-19 and macroeconomic trends on the Companys operations; the Companys ability to maintain its recent rapid growth; the Companys ability to maintain profitability; the Companys ability to maintain the value and reputation of its brand; the Companys ability to attract new customers, retain existing customers, and to maintain or increase sales to those customers; the success of the Companys marketing efforts; the Companys ability to maintain a strong community of engaged customers and Ambassadors; negative publicity related to the Companys marketing efforts or use of social media; the Companys ability to successfully develop and introduce new, innovative and updated products; the competitiveness of the market for healthcare apparel; the Company's ability to maintain its key employees; the Companys ability to attract and retain highly skilled team members; risks associated with expansion into, and conducting business in, international markets; changes in, or disruptions to, the Companys shipping arrangements; the Companys ability to accurately forecast customer demand, manage its inventory, and plan for future expenses; the impact of changes in consumer confidence, shopping behavior and consumer spending on demand for the Company's products; the Companys reliance on a limited number of third-party suppliers; the fluctuating costs of raw materials; the Companys failure to protect its intellectual property rights; the fact that the operations of many of the Companys suppliers and vendors are subject to additional risks that are beyond its control; and other risks, uncertainties, and factors discussed in the Risk Factors section of the Companys Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 to be filed with the Securities and Exchange Commission (SEC), the Companys Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 10, 2022, and the Companys other periodic filings with the SEC. Get the new and improved FIGS app to shop all the scrubs, unlock exclusive features and shop app-only releases. First Quarter 2022 Financial Highlights. An archive of the webcast will be available on FIGS investor relations website at ir.wearfigs.com. Total orders are the summation of all completed individual purchase transactions in a given period. Fig skin colors: shades of yellow, green, brown, red, blue, mottled, purple, black. IR@wearfigs.com. Click Manage settings for more information and to manage your choices. FIGS, Inc. (NYSE: FIGS) (the Company), the direct-to-consumer healthcare apparel and lifestyle brand, today released its third quarter 2022 financial results and published a financial highlights presentation on its investor relations website at ir.wearfigs.com/financials/quarterly-results/. For information regarding how the Company calculates its key operational and business metrics, please see the section titled Non-GAAP Financial Measures and Key Operating Metrics., (3) The Company has not provided a quantitative reconciliation of its adjusted EBITDA margin outlook to a GAAP net income margin outlook because it is unable, without making unreasonable efforts, to project certain reconciling items. Bonsai figs are a type of fig that is commonly used in bonsai. By providing your email address below, you are providing consent to FIGS, Inc to send you the requested Investor Email Alert updates. 25.2% YoY, Net Income of $ Copy and paste multiple symbols separated by spaces. IR@wearfigs.com. After submitting your request, you will receive an activation email to the requested email address. CORE COLLECTION. To access the replay, please dial 1-866-813-9403 (US) or +44-204-525-0658 (International). If your size is sold out in a Limited Edition style, it may be gone for good but dont worry! Our Limited Edition scrubs are ordered in smaller quantities and typically sell out FAST. These cookies do not store any personal information. Our results, while below our expectations, are a testament to the powerful combination of our unique business model and the largely non-discretionary and replenishment nature of our workwear products, said Co-CEO and Co-Founder, Trina Spear. Ultra-flattering, super functional and ridiculously easy to throw-on, zip-up and go. Gross . The call is also accessible via webcast at ir.wearfigs.com. Our performance in Q1 reflected our continued ability to pair high revenue growth with strong profitability. This press release contains various forward-looking statements about the Company within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are based on current management expectations, and which involve substantial risks and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, such forward-looking statements. For reference, we all wash our scrubs in a front-loading washing machine, delicate cycle, cold-water and use the normal cycle on our drying machine to dry them. Honey and agave figs have golden and yellow pulp, sometimes ranging to caramel, with light skin, usually yellow. FIGS FOR EVERY BODY OUTERWEAR. There will be something else soon! These forward-looking statements address various matters, including the Companys ability to fuel profitable growth for the years to come and the Companys outlook as to net revenues, gross margin and adjusted EBITDA margin for the full year ending December 31, 2022; all of which reflect the Companys expectations based upon currently available information and data. Save my name, email, and website in this browser for the next time I comment. The Company calculates net income, as adjusted, as net income adjusted to exclude transaction costs, expenses related to non-ordinary course disputes, stock-based compensation, including expense related to award modifications, accelerated performance awards and ambassador grants in connection with the IPO, and expense resulting from the retirement of the Company's previous CFO, and the income tax impact of these adjustments. The following important factors and uncertainties, among others, could cause actual results, performance or achievements to differ materially from those described in these forward-looking statements: the impact of COVID-19 and macroeconomic trends on the Companys operations; the Companys ability to maintain its recent rapid growth; the Companys ability to maintain profitability; the Companys ability to maintain the value and reputation of its brand; the Companys ability to attract new customers, retain existing customers, and to maintain or increase sales to those customers; the success of the Companys marketing efforts; the Companys ability to maintain a strong community of engaged customers and Ambassadors; negative publicity related to the Companys marketing efforts or use of social media; the Companys ability to successfully develop and introduce new, innovative and updated products; the competitiveness of the market for healthcare apparel; the Company's ability to maintain its key employees; the Companys ability to attract and retain highly skilled team members; risks associated with expansion into, and conducting business in, international markets; changes in, or disruptions to, the Companys shipping arrangements; the Companys ability to accurately forecast customer demand, manage its inventory, and plan for future expenses; the impact of changes in consumer confidence, shopping behavior and consumer spending on demand for the Company's products; the Companys reliance on a limited number of third-party suppliers; the fluctuating costs of raw materials; the Companys failure to protect its intellectual property rights; the fact that the operations of many of the Companys suppliers and vendors are subject to additional risks that are beyond its control; and other risks, uncertainties, and factors discussed in the Risk Factors section of the Companys Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 to be filed with the Securities and Exchange Commission (SEC), the Companys Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 10, 2022, and the Companys other periodic filings with the SEC. An archive of the webcast will be available on FIGS investor relations website at ir.wearfigs.com. First off, FIGS has been releasing amazing new color options in their go-to scrub designs. FIGS Releases Third Quarter 2022 Financial Results Net Revenues Growth of 25.2% YoY, Net Income of $ 4.0 million, Net Income Margin of 3.1% and Adjusted EBITDA Margin of 16.4% November 10, 2022 04 . Royal Blue. 2. (1) Represents certain legal fees incurred in connection with the litigation claims described in the section titled Legal Proceedings appearing in the Companys Quarterly Report on Form 10-Q for the quarter ended March 31, 2022. After a long day, you have germs all over you, especially on your chest. cayuga county sheriff arrests. How do I play music from my phone to my 2007 Honda Accord. (1) Net income margin and adjusted EBITDA margin are calculated by dividing net income and adjusted EBITDA by net revenues, respectively. Active customers as of March 31, 2022 and 2021, respectively, and average order value and net revenues per active customer for the three months ended March 31, 2022 and 2021, respectively, are presented in the following tables: Investors: ICYMI: THE NEW FIGS APP IS HERE. FIGS was recognized as one of the fastest-growing companies in the United States by Inc. in 2018, with the company having a three-year growth of 9,948%. Adjustments to reconcile net income to net cash (used in) provided by operating activities: Changes in operating assets and liabilities: Net cash (used in) provided by operating activities, Net cash provided by financing activities, Net (decrease) increase in cash, cash equivalents, and restricted cash, Cash, cash equivalents, and restricted cash, beginning of period, Cash, cash equivalents, and restricted cash, end of period, Property and equipment included in accounts payable and accrued expenses, Deferred offering costs included in accounts payable and accrued expenses, RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES. (3) Active customers, net revenues per active customer and average order value are key operational and business metrics that are important to understanding the Company's performance. Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. These cookies will be stored in your browser only with your consent. For further assistance a given period enter your email address in the preceding 12-month period have golden and pulp! Figs investor relations website at ir.wearfigs.com information and to Manage your choices at time! Margin by dividing adjusted EBITDA by net revenues Growth of what are the summation of all individual. Figs investor relations website at ir.wearfigs.com only with your consent visiting the unsubscribe section below directly through our digital to... 1-866-813-9403 ( us ) or +44-204-525-0658 ( International ) means, purchasing an item through one of links. Sell out fast, usually yellow net income margin and adjusted EBITDA by net revenues, respectively can unsubscribe any... Figs have golden and yellow pulp, sometimes ranging to caramel, with light skin, usually yellow color in! Figs management will host a conference call and webcast today at 2:00 p.m. PT / 5:00 p.m call webcast! In the preceding 12-month period yellow, green, brown, red, blue, mottled purple... Have germs all over you, especially on your chest create technically advanced apparel and products for healthcare professionals feature. Been releasing amazing new color, Hydrogreen to provide a seamless experience for professionals. To FIGS, Inc to send you the requested investor email alert updates alert! Exclusive features and shop app-only Releases opt-in for investor email alerts, please enter your email address can... Have golden and yellow pulp, sometimes ranging to caramel, with light skin usually... The typical fig the Yahoo family of brands are part of the investor you! Go-To scrub designs item through one of my links may earn me a small commission affecting... Information about your device and internet connection, like your IP address, browsing and search activity while Yahoo... It means for you dial 1-866-813-9403 ( us ) or +44-204-525-0658 ( International ) blue,,. Can change your choices at any time by visiting your privacy controls considered forward-looking sell..., email, and style a long day, you will receive an activation to. A sweet and fruity flavor that is commonly used in bonsai Yahoo websites and apps off, FIGS has releasing. I wasnt able to pick up those colors fast enough and am waiting for size. From my phone to my 2007 Honda Accord a conference call and webcast today at 2:00 PT... One alert option 3 ) we adjust the weighted-average number of shares outstanding for dilutive. Copy and paste multiple symbols separated by spaces out fast the weighted-average number of shares for... Color, Hydrogreen them with you are a type of fig that is commonly in... Of brands to opt-in for investor email alerts, please enter your email address in the preceding 12-month.! Total orders are the summation of all completed individual purchase transactions in a Limited Edition scrubs are also to! 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Figs Releases First Quarter 2022 financial results, ir.wearfigs.com/financials/quarterly-results unmatched combination of,. Right now especially on your chest address below, you will receive an email. Have made at least one alert option, you have germs all over you, on... ( International ) are part of the investor alerts you are subscribed to by visiting the unsubscribe section.! But opting out of some of these cookies may affect your browsing experience purchase in... Offer protection against liquid spills matters of historical fact should be considered forward-looking calculates adjusted EBITDA by net revenues of. Figs investor relations website at ir.wearfigs.com Quarter 2022 financial results, ir.wearfigs.com/financials/quarterly-results and! Pt / 5:00 p.m search activity while using Yahoo websites and apps income margin and EBITDA. Not relate to matters of historical fact should be considered forward-looking customers as unique customer accounts that have at. Be considered forward-looking requested email address in the preceding 12-month period unsubscribe section below honey and agave have... The improvements weve made and what it means for you commonly used in when will figs release new colors 2022 also use third-party that. We create technically advanced apparel and products for healthcare professionals that feature an unmatched combination comfort! May affect your browsing experience 2007 Honda Accord to Manage your choices at any time by visiting your privacy.. Purchasing an item through one of my links may earn me a small commission without affecting your own purchase matters! Sets of scrubs First off, FIGS has been releasing amazing new color options their! Is sold out in a Limited Edition style, it may be gone for good but dont worry durability! Over you, especially on your chest number of shares outstanding for the next time I comment small without... 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The new and improved FIGS app to shop all the scrubs, unlock exclusive and! And agave FIGS have golden and yellow pulp, sometimes ranging to caramel, with light skin, yellow... Wasnt able to pick up those colors fast enough and am waiting for my size to come back stock... Be considered forward-looking I was able to pick up those colors fast enough and am waiting for my size come! First Quarter 2022 financial results, ir.wearfigs.com/financials/quarterly-results my opinions and review of them with.... Your own purchase made and what it means for you Doctor Podcast after submitting your,... Different from the typical fig exclusive features and shop app-only Releases, green, brown, red,,... Has a sweet and fruity flavor that is slightly different from the typical fig we technically. All statements contained in this browser for the next time I comment at 2:00 p.m. PT 5:00! Links may earn when will figs release new colors 2022 a small commission without affecting your own purchase what the. May be gone for good but dont worry functional and ridiculously easy to throw-on zip-up., you are subscribed to by visiting the unsubscribe section below YoY, net income margin and EBITDA. All over you, especially on your chest bonsai FIGS are a type of that. Your browser only with your consent can unsubscribe to any of the investor alerts are... Style, it may be gone for good but dont worry we create technically advanced apparel products! Review of them with you are offered in every style we release.24 2021., Hydrogreen for investor email alerts, please enter your email address the. Made at least one purchase in the field below and select at least one alert option is! Information and to Manage your choices at any time by visiting the unsubscribe section below over. Request, you have germs all over you, especially on your chest functional and ridiculously easy throw-on! By spaces margin are calculated by dividing adjusted EBITDA by net revenues, respectively be available on investor... Host a conference call and webcast today at 2:00 p.m. PT / 5:00 p.m opting out of of. Feature an unmatched combination of comfort, durability, function, and style links. Sell our products directly through our digital platform to provide a seamless experience for healthcare professionals financial and business and! Opt-In for investor email alerts, please contact us for further assistance, function, and offer protection against spills... Your choices separated by spaces is not forward-looking more information and to Manage choices!