Q4 2024 Figs Inc Earnings Call Transcript

Feb 27, 2025 / 10:00 PM GMT

Release Date Price: $5.58 (-2.11%)

Transcript 10-K8-K

Key Points

Positve

FIGS Inc (FIGS) reported a 5% year-over-year revenue growth in Q4 2024, surpassing their implied range for the quarter.
The international business segment grew by 45% in Q4, reaching an all-time high of 16% of net revenues.
The company ended the year with a strong financial position, boasting over $245 million in net cash and investments.
FIGS Inc (FIGS) successfully launched new product lines, including the Team USA collection and partnerships with New Balance and Echo.
The company made significant strides in community support, including opening a new operating theater in Kenya and advocating for healthcare professionals on Capitol Hill.

Negative

FIGS Inc (FIGS) experienced inconsistencies in performance throughout the year, with challenges in customer acquisition and pressures on healthcare professionals.
The company faced gross margin pressure due to changing product mixes and strategic SGNA investments.
There is an anticipated negative impact on top-line performance in 2025 due to a shift in promotional strategies.
Selling expenses significantly deleveraged in Q4 due to duty reclassification impacts and fulfillment center inefficiencies.
The company expects net revenues for fiscal 2025 to decline in the low single-digit range year-over-year, reflecting headwinds from reduced promotions and potential declines in active customers.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

FIGS.N - Figs Inc
Q4 2024 Figs Inc Earnings Call
Feb 27, 2025 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon everyone, and thank you for joining today's 6th 4th quarter fiscal 2024 earnings conference call. My name is Reagan, and I'll be your moderator today. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. If you like to ask a question, please press 1 on your telephone keypad. I would now like to pass the conference over to our host, Tom Shaw, SVP of Investor Relations. Tom, you may now proceed.

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Unidentified_2 [2]
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Good afternoon and thank you for joining us to discuss Fig's 4th quarter and

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