---
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"
generated_at: "2026-06-18T22:45:21.356098+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-005551
- JSON: https://secwatch.observer/filing/0001628280-23-005551.json
- Plain text: https://secwatch.observer/filing/0001628280-23-005551.txt

## Key facts
- Earnings Releases
  FIGS, Inc. reported Fourth Quarter 2022 results: revenue $144.9 million, net income $3.4 million, EPS $0.02.
  - Period: Fourth Quarter 2022
  - Revenue: $144.9 million
  - Net income: $3.4 million
  - EPS: $0.02
  - Result: reported results
  source text: • 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_url: https://www.sec.gov/Archives/edgar/data/1846576/000162828023005551/0001628280-23-005551-index.htm
- Earnings Releases
  FIGS, Inc. reported Full Year 2022 results: revenue $505.8 million, net income $21.2 million, EPS $0.11.
  - Period: Full Year 2022
  - Revenue: $505.8 million
  - Net income: $21.2 million
  - EPS: $0.11
  - Result: reported results
  source text: • 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_url: https://www.sec.gov/Archives/edgar/data/1846576/000162828023005551/0001628280-23-005551-index.htm
- Earnings Releases
  FIGS, Inc. updated its 2023 Fiscal Year guidance (initiated).
  - Period: 2023 Fiscal Year
  - Guidance: initiated
  - Result: guidance update
  source text: 2023 Financial Outlook Net Revenues Mid-single digit growth Adjusted EBITDA Margin (4) 11% - 12%
  evidence_url: https://www.sec.gov/Archives/edgar/data/1846576/000162828023005551/0001628280-23-005551-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.