secwatch.observer — SEC 8-K summary
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Issuer:     FIGS, Inc. (FIGS)
CIK:        0001846576
Form:       8-K
Filed at:   2024-02-28T23:59:59+00:00
Accession:  0001628280-24-007607
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1846576/000162828024007607/0001628280-24-007607-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1846576/000162828024007607/figs-20240226.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-007607

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer