---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-046350"
form_type: "8-K"
ticker: "FIGS"
cik: "0001846576"
company_name: "FIGS, Inc."
filed_at: "2024-11-07T23:59:59+00:00"
generated_at: "2026-05-30T03:51:09.294201+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# FIGS Q3 revenue falls 1.5% to $140.2M, posts net loss; FY24 outlook cut to down 1%-flat; invests $25M in OOG

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-24-046350
- form_type: 8-K
- ticker: FIGS
- cik: 0001846576
- company_name: FIGS, Inc.
- filed_at: 2024-11-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1846576/000162828024046350/0001628280-24-046350-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1846576/000162828024046350/figs-20241104.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-046350
- JSON: https://secwatch.observer/filing/0001628280-24-046350.json
- Plain text: https://secwatch.observer/filing/0001628280-24-046350.txt

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