---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-022237"
form_type: "8-K"
ticker: "FIGS"
cik: "0001846576"
company_name: "FIGS, Inc."
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T07:03:41.947698+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# FIGS Q1 2024 net rev $119.3M (-0.8% YoY); adj EBITDA margin 10.9% vs 13.4% YoY; raises FY rev outlook

## Summary
- Net rev $119.3M (upper end of guidance); net income $1.4M vs $1.9M YoY; adj EBITDA $13.0M vs $16.1M YoY.
- Gross margin 68.9%, down 240 bps YoY on product mix shift; operating expenses flat at 68.5% of rev.
- Active customers 2.6M (+8.7% YoY); AOV $116 (+1.8% YoY); net rev per active customer $210 (-2.8%).
- Raising FY 2024 net rev outlook to -2% to +2%; adj EBITDA margin guidance 9.5%-10.5% (from prior expectations).
- Company cites improved momentum from new products; plans to ramp marketing investments to fuel growth.

## SEC filing metadata
- accession: 0001628280-24-022237
- form_type: 8-K
- ticker: FIGS
- cik: 0001846576
- company_name: FIGS, Inc.
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1846576/000162828024022237/0001628280-24-022237-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1846576/000162828024022237/figs-20240509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-022237
- JSON: https://secwatch.observer/filing/0001628280-24-022237.json
- Plain text: https://secwatch.observer/filing/0001628280-24-022237.txt

## Key facts
- Earnings Releases
  FIGS, Inc. reported three months ended March 31, 2024 results: net income Net income ... was $1.4 million.
  - Period: three months ended March 31, 2024
  - Net income: Net income ... was $1.4 million
  - Result: reported results
  source text: were $1.4 million (or $0.01 in diluted earnings per share), a decrease of $0.5 million year over year as compared to net income in the same period last year
  evidence_url: https://www.sec.gov/Archives/edgar/data/1846576/000162828024022237/0001628280-24-022237-index.htm

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