Figs reports Q1 EPS 1c, consensus 0c

Reports Q1 revenue $119.3M, consensus $117.5M. “Net revenues came in at the upper end of our expectations with adjusted EBITDA margin(1) exceeding our guidance. Importantly, we saw improved momentum in our business, particularly in repeat frequency trends, toward the end of the first quarter and into the second. This recent performance reflects strong engagement with our new product innovation and powerful storytelling campaigns as we returned to our roots,” said Trina Spear, CEO. “In light of these encouraging trends, we’re strategically ramping investments, predominantly in marketing, to further fuel growth across our business. As a result of these factors, we are raising our full year net revenues outlook while revising our adjusted EBITDA margin outlook. Importantly, we expect to sustain strong free cash flow,(1) which will help to support long term sustainable profitable growth.”