earnings
confidence high
sentiment negative
materiality 0.80
FIGS Q3 revenue falls 1.5% to $140.2M, posts net loss; FY24 outlook cut to down 1%-flat; invests $25M in OOG
FIGS, Inc.
2024-Q3 EPS reported
$0.00
revenue$403,726,000
- Q3 net revenues $140.2M (-1.5% YoY); net loss $(1.7)M ($(0.01) diluted EPS) vs prior year net income.
- Adjusted EBITDA $4.8M (margin 3.4%), down from 17.2% last year; operating expenses up 17.4% to $102.7M.
- Active customers up 3.8% to 2.7M, but AOV fell 5.3% to $108 and net revenue per active customer down 3.3% to $205.
- Full-year 2024 guidance: net revenue growth down 1% to flat (vs 2023), adjusted EBITDA margin ~8%.
- Closed $25M minority investment in OOG, an AI-powered healthcare education platform founded by Executive Chair Heather Hasson; special committee approved.