Q4 2025 Figs Inc Earnings Call Transcript
Key Points
- FIGS Inc (FIGS) reported a 33% increase in Q4 net revenues, surpassing $200 million for the first time in a quarter.
- The company achieved a record 2.9 million active customers globally, with a 9% year-over-year increase.
- International net revenue growth accelerated to 55% year over year, with significant contributions from existing markets.
- FIGS Inc (FIGS) exceeded its original full-year adjusted EBITDA margin target by over 200 basis points.
- The company ended the year with a record net cash and investment position of just over $300 million.
- Gross margin for Q4 contracted by 440 basis points to 62.9%, impacted by higher tariff pressures and inventory write-offs.
- The company faced a 5.6 million inventory write-off related to broken and aged inventory.
- Tariff impacts remain a concern, with a planned unmitigated tariff impact of approximately 280 basis points expected in 2026.
- Despite strong growth, the international expansion involves higher selling and marketing costs due to geographic impact.
- The Teams business, while growing, still represents a single-digit penetration to total revenue and has a slightly lower gross margin.
Good afternoon.
Thank you for attending the Fig 4th quarter fiscal 2025 earnings conference call. My name is Cameron and I'll be your moderator for 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 would like to ask a question, please press star followed by 1 on your telephone keypad. I would now like to pass the conference over to your host, Tom Shaw, senior Vice President of F Figs. You may proceed.
Good afternoon.
Thank you for joining us to discuss Fig's 4th quarter and full year 2025 results, which we released this afternoon and can be found in our earnings press release and in the shareholder presentation posted to our investor relations website at IR.warefigs.com.
Presenting on today's call are Trina Spear, our co-founder and Chief Executive Officer, and Sarah Alred, our Chief Financial Officer.
As a reminder, remarks on this call that do not concern past events are
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