Q1 2025 Figs Inc Earnings Call Transcript

May 8, 2025 / 09:00 PM GMT

Release Date Price: $5.05 (+3.27%)

Transcript 10-Q8-K

Key Points

Positve

FIGS Inc (FIGS) reported a 5% year-over-year increase in Q1 revenues, surpassing expectations.
The company achieved a record average order value (AOV) of $119, indicating strong brand strength.
FIGS Inc (FIGS) saw positive growth in the US market, driven by reactivation of lapsed customers.
International sales increased by 16%, with strong performance in markets like Mexico, Europe, and the Middle East.
The company maintains a strong balance sheet with $251.2 million in net cash equivalents and short-term investments.

Negative

Gross margin contracted by 130 basis points to 67.6%, partly due to higher freight expenses.
The company faces uncertainties due to recent tariffs, which could impact cost of goods sold.
Selling expenses increased to 26.2% of net revenues, reflecting higher costs from a new fulfillment center.
There is a potential for higher inventory growth in Q2 due to trade environment uncertainties.
FIGS Inc (FIGS) anticipates a slowdown in trends in the second half of the year due to reduced promotional activities.

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

FIGS.N - Figs Inc
Q1 2025 Figs Inc Earnings Call
May 08, 2025 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon.

Thank you for attending today's first quarter fiscal 2025 earnings conference call. My name is Jaylen. I'll be a moderator for today. All lines will be muted during the presentation portion of the call with the opportunity for questions and answers at the end. And I like to turn the conference over to our host, Tom Shaw, the senior Vice President of investor relations. Tom, you may proceed.

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Unidentified_2 [2]
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Good afternoon and thank you for joining us to discuss Fig's first quarter of 2025 results, which we released this afternoon. It can be found in

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