---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-015728"
form_type: "8-K"
ticker: "FIGS"
cik: "0001846576"
company_name: "FIGS, Inc."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T23:00:24.368664+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# FIGS Q1 net revenue $120.2M (+9.2% YoY); guides FY23 revenue growth 5.5%-7.5%

## Summary
- Net income of $1.9M ($0.01 diluted EPS); adjusted EBITDA $16.1M (13.4% margin).
- Active customers rose 21.8% YoY to 2.4M; net revenue per active customer fell 4.4% to $216.
- Gross margin 71.3%, up 10 bps; operating expenses increased 27.4% YoY to $82.4M.
- Full-year 2023 outlook: net revenue growth 5.5%-7.5%, adjusted EBITDA margin 12%-13%.
- CEO Trina Spear cited 'better than expected' Q1 performance, progress on key initiatives.

## SEC filing metadata
- accession: 0001628280-23-015728
- form_type: 8-K
- ticker: FIGS
- cik: 0001846576
- company_name: FIGS, Inc.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1846576/000162828023015728/0001628280-23-015728-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1846576/000162828023015728/figs-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-015728
- JSON: https://secwatch.observer/filing/0001628280-23-015728.json
- Plain text: https://secwatch.observer/filing/0001628280-23-015728.txt

## Key facts
- Earnings Releases
  FIGS, Inc. reported three months ended March 31, 2023 results: revenue $120.2 million, net income $1.9 million, EPS $0.01.
  - Period: three months ended March 31, 2023
  - Revenue: $120.2 million
  - Net income: $1.9 million
  - EPS: $0.01
  - Result: reported results
  source text: our leadership position within the healthcare apparel industry, while driving profitable growth for the long term.” First Quarter 2023 Financial Highlights • Net revenues were $120.2 million, an increase of 9.2% year over year, driven by an increase in orders from existing and new customers, partially offset by lower average order value (“AOV”). • Gross margin was
  evidence_url: https://www.sec.gov/Archives/edgar/data/1846576/000162828023015728/0001628280-23-015728-index.htm

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