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FIGS (FIGS)
NYSE:FIGS
Holding FIGS?
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.01Last Year’s EPS
$0.05Same Quarter Last Year
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -13.79%
|Next Earnings Date:Feb 26, 2025
Earnings Call Sentiment|Neutral
The earnings call for FIGS Q3 2024 presented a mixed picture. While there were significant achievements in terms of international growth and a successful marketing campaign during the Olympics, these were overshadowed by challenges in the footwear segment, a decline in net revenue, and a significant drop in adjusted EBITDA margin. The company's strong cash position is a positive sign, but operational and financial challenges remain.Company Guidance
During the FIGS Q3 2024 earnings call, the company provided guidance reflecting mixed results and strategic initiatives. The company adjusted its full-year revenue outlook to a range of negative 1% to flat growth, citing challenges such as footwear inventory issues and promotional timing shifts. Gross margins were better than expected at 67.1% due to a favorable product mix, although year-over-year they contracted by 130 basis points. Notably, adjusted EBITDA margin was 3.4%, down from 17.2% in the previous year, mainly due to increased marketing and fulfillment expenses. The company emphasized foundational initiatives like fit standardization and international expansion, targeting markets like Japan, and highlighted the success of top-of-funnel marketing campaigns like their Olympic partnership. Looking ahead to 2025, FIGS anticipates improved margins with tailwinds from reduced transition costs associated with their fulfillment center and a normalization of marketing expenses.Strong International Performance
International growth reached 17% in Q3, despite an 11-point negative impact from duty subsidies and tough comparisons from last year's 81% growth due to Mexico and the Philippines market entries.
Record Cash Position
FIGS ended Q3 with a record amount of cash, cash equivalents, and short-term investments totaling $281.7 million, and no debt.
Successful Marketing Campaign
The Olympics campaign exceeded expectations with over a billion earned media impressions and increased brand search and site traffic.
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FIGS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FIGS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $6.67 | $4.78 | -28.34% |
| Aug 08, 2024 | $5.72 | $4.92 | -13.99% |
| May 09, 2024 | $5.62 | $5.39 | -4.09% |
| Feb 28, 2024 | $6.03 | $5.23 | -13.27% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does FIGS (FIGS) report earnings?
FIGS (FIGS) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is FIGS (FIGS) earnings time?
FIGS (FIGS) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FIGS EPS forecast?
FIGS EPS forecast for the fiscal quarter 2024 (Q4) is $0.01.
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