FIGS Q4 revenue $144.9M (+12.6% YoY), guides FY23 mid-single digit growth

• Net revenues were $144.9 million, an increase of 12.6% year over year, driven by an increase in orders from existing and new customers, partially offset by a slightly lower average order value (“AOV”) from $113 to $112. • Gross margin was 68.2%, a decrease of 170 basis points year over year, primarily due to a higher mix of promotional sales and product mix shift as well as higher ocean freight costs, partially offset by reduced utilization of air freight. • Operating expenses were $95.6 million, an increase of 29.9% year over year. As a percentage of net revenues, operating expenses increased to 66.0% from 57.2% in the prior year due to higher selling expenses related to fulfillment costs. • Net income was $3.4 million and diluted earnings per share was $0.02.

• Net revenues were $505.8 million, an increase of 20.6% year over year, primarily driven by an increase in orders and AOV. • Gross margin was 70.1%, a decrease of 170 basis points year over year, primarily due to a higher mix of promotional sales and, to a lesser extent, an increase in freight-in due to elevated ocean freight rates and product mix shift . • Operating expenses were $316.8 million, an increase of 9.1% year over year. As a percentage of net revenues, operating expenses decreased to 62.6% from 69.2% in the prior year period due to lower general and administrative expenses, partially offset by higher selling expense and marketing investment. • Net income was $21.2 million and diluted earnings per share was $0.11.

2023 Financial Outlook Net Revenues Mid-single digit growth Adjusted EBITDA Margin (4) 11% - 12%