FIGS reports Q4 net income $10M, FY revenue up 7.9% to $545.6M; issues weak 2024 guidance; CFO resigns

FIGS, Inc.

2023-FY EPS reported $0.12 revenue$545,646,000

Q4 net revenues $144.9M flat YoY (impacted by $4.7M reclassification); net income $10.0M ($0.05 diluted EPS).
FY 2023 net revenues $545.6M (+7.9% YoY); net income $22.6M ($0.12 diluted EPS); active customers 2.6M (+13%).
2024 guidance: net revenue down mid-single digits to flat; adjusted EBITDA margin 11%-12% (vs 15.8% in FY23).
CFO Daniella Turenshine to resign effective April 12, 2024; VP Controller Kevin Fosty appointed Interim CFO.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Daniella Turenshine

Chief Financial Officer

FIGS · FIGS, Inc.

Effective: 2024-04-12
Successor: Kevin Fosty
Filed: February 28, 2024, 6:59 PM ET

On February 26, 2024, the Company’s Chief Financial Officer and principal accounting officer, Daniella Turenshine, notified the Company of her decision to resign effective April 12, 2024

Appointed (interim)

Kevin Fosty

Interim Chief Financial Officer

FIGS · FIGS, Inc.

Effective: 2024-04-12
Filed: February 28, 2024, 6:59 PM ET

On February 26, 2024, the Board of Directors (the “ Board ”) of the Company designated Kevin Fosty, the Company’s VP, Controller, to serve as the Company’s Interim Chief Financial Officer and principal accounting officer on an interim basis, effective as of the Effective Date

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FIGS, Inc. reported Fourth quarter 2023 results: revenue Net revenues were $144.9 million, net income Net income and net income, as adjusted (1) were $10.0 million, EPS $0.05 in diluted earnings per share.

Period: Fourth quarter 2023
Revenue: Net revenues were $144.9 million
Net income: Net income and net income, as adjusted (1) were $10.0 million
EPS: $0.05 in diluted earnings per share
Result: reported results

Exact text from the filing

Fourth Quarter 2023 Financial Highlights • Net revenues were $144.9 million, flat year over year.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Daniella Turenshine resigned as Chief Financial Officer at FIGS, Inc..

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

On February 26, 2024, the Company’s Chief Financial Officer and principal accounting officer, Daniella Turenshine, notified the Company of her decision to resign effective April 12, 2024

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Kevin Fosty was appointed as Interim Chief Financial Officer at FIGS, Inc..

Action: appointed
Role: Interim Chief Financial Officer

Exact text from the filing

On February 26, 2024, the Board of Directors (the “ Board ”) of the Company designated Kevin Fosty, the Company’s VP, Controller, to serve as the Company’s Interim Chief Financial Officer and principal accounting officer on an interim basis, effective as of the Effective Date

View on SEC.gov

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FIGS, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-007607

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