{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-23-005551","form_type":"8-K","ticker":"FIGS","cik":"0001846576","company_name":"FIGS, Inc.","filed_at":"2023-02-28T23:59:59+00:00","discovered_at":"2026-05-14T18:03:47.104820+00:00","generated_at":"2026-06-18T22:45:21.356098+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"FIGS Q4 revenue $144.9M (+12.6% YoY), guides FY23 mid-single digit growth","bullets":["Q4 net income $3.4M ($0.02 diluted EPS); adjusted EPS $0.05; adjusted EBITDA $19.8M (13.6% margin).","Full year 2022 net revenue $505.8M (+20.6% YoY); net income $21.2M ($0.11 diluted EPS).","Active customers 2.3M (+22.5% YoY); net revenue per active customer $221 (-1.3% YoY).","FY23 outlook: net revenue mid-single digit growth; adjusted EBITDA margin 11%-12%.","Gross margin 70.1% for FY22, down 170 bps YoY due to promotional mix and higher freight costs."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-23-005551","json":"https://secwatch.observer/filing/0001628280-23-005551.json","markdown":"https://secwatch.observer/filing/0001628280-23-005551.md","text":"https://secwatch.observer/filing/0001628280-23-005551.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1846576/000162828023005551/0001628280-23-005551-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1846576/000162828023005551/figs-20230228.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-18T22:45:21.356098+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"7d46b9258c74afd3ef06d7e9025ebd3780cb6e7b","claim":"FIGS, Inc. reported Fourth Quarter 2022 results: revenue $144.9 million, net income $3.4 million, EPS $0.02.","evidence_excerpt":"• 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.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1846576/000162828023005551/0001628280-23-005551-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Fourth Quarter 2022"},{"label":"Revenue","value":"$144.9 million"},{"label":"Net income","value":"$3.4 million"},{"label":"EPS","value":"$0.02"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"8c173fdef530ec2f0ef2dd3083df5e5964c3fd56","claim":"FIGS, Inc. reported Full Year 2022 results: revenue $505.8 million, net income $21.2 million, EPS $0.11.","evidence_excerpt":"• 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.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1846576/000162828023005551/0001628280-23-005551-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Full Year 2022"},{"label":"Revenue","value":"$505.8 million"},{"label":"Net income","value":"$21.2 million"},{"label":"EPS","value":"$0.11"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"dfcc2cb954dbc0971d533148ac793b4baf052410","claim":"FIGS, Inc. updated its 2023 Fiscal Year guidance (initiated).","evidence_excerpt":"2023 Financial Outlook Net Revenues Mid-single digit growth Adjusted EBITDA Margin (4) 11% - 12%","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1846576/000162828023005551/0001628280-23-005551-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"2023 Fiscal Year"},{"label":"Guidance","value":"initiated"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}