Our results, while below our expectations, are a testament to the powerful combination of our unique business model and the largely non-discretionary and replenishment nature of our workwear products, said Co-CEO and Co-Founder, Trina Spear. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are included below under the heading Reconciliations of GAAP to Non-GAAP Measures.. The Company calculates adjusted EBITDA as net income adjusted to exclude: other income (loss), net; gain/loss on disposal of assets; provision for income taxes; depreciation and amortization expense; stock-based compensation and related expense; transaction costs; and expenses related to non-ordinary course disputes. SANTA MONICA, Calif.--(BUSINESS WIRE)-- (1) Represents certain legal fees incurred in connection with the litigation claims described in the section titled Legal Proceedings appearing in the Companys Quarterly Report on Form 10-Q for the quarter ended September 30, 2022. Gross margin was 70.6%, . You know I LOVE FIGS and their scrubs, lifewear and casual pieces! These items include, but are not limited to, future stock-based compensation expense, income taxes, expenses related to non-ordinary course disputes, and transaction costs. After submitting your request, you will receive an activation email to the requested email address. Taking your scrub top off over your head (and against your face) can expose you to those germs. If you experience any issues with this process, please contact us for further assistance. Nov 10, 2022 4:05PM EST. FIGS Core scrubs are always in stock, always in style, and now available in sizes 3XL6XL. For lifewear vests, fleece jackets, and tees or underscrubs we have had the same positive experience. FIGS Releases Third Quarter 2022 Financial Results. How do I play music from my phone to my 2007 Honda Accord. We create technically advanced apparel and products for healthcare professionals that feature an unmatched combination of comfort, durability, function, and style. With frequency trends continuing to slow largely due to sustained macroeconomic pressures, we are adjusting our plans to focus even more on product innovation and customer engagement strategies, while managing cost pressures. This video is all about Figs brand new red scrubs! Berry figs tend to have red pulp sometimes ranging to purple, with dark or light skin. Inspired by all the ways you GO fast, slow, get 'em, 'til you drop, for it, hard, big, etc. DOWNLOAD NOW, FREE SHIPPING FOR $50+ ORDERS AND FREE RETURNS. The absence of these words does not mean that a statement is not forward-looking. We are using cookies to give you the best experience on our website. The following table presents a reconciliation of diluted earnings per share, as adjusted and net income, as adjusted to net income, which is the most directly comparable financial measure calculated in accordance with GAAP: Expenses related to non-ordinary course disputes(1), Weighted-average shares used to compute Diluted EPS, as adjusted. These items are inherently variable and uncertain and depend on various factors, some of which are outside of the Companys control or ability to predict. FIGS is a founder-led, direct-to-consumer healthcare apparel and lifestyle brand that seeks to celebrate, empower, and serve current and future generations of healthcare professionals. Active customers as of March 31, 2022 and 2021, respectively, and average order value and net revenues per active customer for the three months ended March 31, 2022 and 2021, respectively, are presented in the following tables: Investors: SANTA MONICA, Calif.--(BUSINESS WIRE)-- SANTA MONICA, Calif. -- (BUSINESS . Net Revenues Growth of 25.2% YoY, Net Income of $ 4.0 million, Net Income Margin of 3.1% and Adjusted EBITDA Margin of 16.4% FIGS, Inc. (NYSE: FIGS) (the "Company"), the direct-to-consumer healthcare apparel and lifestyle brand, today released its third quarter 2022 financial results and published a financial highlights presentation on its investor relations website at ir.wearfigs.com . Figs are a type of fruit that come in many different colors. Different scrubs have different colors, and dark fig scrubs tend to be a dark purple color. An archive of the webcast will be available on FIGS investor relations website at ir.wearfigs.com. Velma is an American adult animated mystery comedy television series based on the character Velma Dinkley from the Scooby-Doo franchise. Sugar figs tend to have amber/brown pulp, sometimes ranging to red, with dark skin of various colors. Select Core scrub styles are now available in sizes 3XL - 6XL in Black, Navy, Burgundy, and Royal Blue. This press release contains various forward-looking statements about the Company within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are based on current management expectations, and which involve substantial risks and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, such forward-looking statements. If you miss out on a style or color, don't worry there will be something else coming soon! ET to discuss the Companys financial and business results and outlook. It can be worn by anyone with warm undertones. FREE SHIPPING FOR $50+ ORDERS AND FREE RETURNS. (1) Net income, as adjusted, diluted earnings per share, as adjusted, adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures. I am happy to wear their burgundy or wine color in this post. Black. To enhance engagement with the company's verified retail and institutional shareholder base, FIGS is partnering with Say Technologies to allow shareholders to submit and upvote questions, a selection of which will be answered by FIGS management during the conference call. (2) Includes stock-based compensation expense and payroll taxes related to equity award activity. November 6, 2022; Introducing our NEW color, Hydrogreen! Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Changes in operating assets and liabilities: Net cash (used in) provided by operating activities, Proceeds from issuance of Class A common stock in initial public offering, net of underwriting discounts, Payments of initial public offering issuance costs, net of reimbursements, Proceeds from stock option exercises and employee stock purchases, Tax payments related to net share settlements on restricted stock units, Net cash provided by financing activities, Net (decrease) increase in cash, cash equivalents, and restricted cash, Cash, cash equivalents, and restricted cash, beginning of period, Cash, cash equivalents, and restricted cash, end of period, RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES. Our performance in Q1 reflected our continued ability to pair high revenue growth with strong profitability. Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by net revenues. These items are inherently variable and uncertain and depend on various factors, some of which are outside of the Companys control or ability to predict. Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by net revenues. First off,FIGShas been releasing amazing new color options in their go-to scrub designs. The call is also accessible via webcast at ir.wearfigs.com. These forward-looking statements generally are identified by the words anticipate, believe, contemplate, continue, could, estimate, expect, forecast, future, intend, may, might, opportunity, outlook, plan, possible, potential, predict, project, should, strategy, strive, target, will or would, the negative of these words or other similar terms or expressions. How often does FIGS release new color? Ive tried so many different brands and will never go back., Color Mixing: Purple (mix Crimson and Ultramarine Deep) A tint of Purple (Mix Crimson and Ultramarine deep and a little bit of Burnt umber) Violet (Mix Ultramarine deep and Crimson, in a proportion 2:1). Non-GAAP Financial Measures and Key Operating Metrics. ICYMI: THE NEW FIGS APP IS HERE. (3) Represents certain legal fees incurred in connection with the litigation claims described in the section titled Legal Proceedings appearing in the Companys Quarterly Report on Form 10-Q for the quarter ended September30, 2022. Type a symbol or company name. Our Core Colors (Black, Ceil Blue, Graphite, Navy and Royal Blue) are replenished/restocked frequently, so have no fear therethose should almost always be available. V-neck tops have a wider neck and are easier to take off without touching your face and spreading germs. This video is all about Figs brand new red scrubs! The Company calculates active customers as unique customer accounts that have made at least one purchase in the preceding 12-month period. FIGS management will host a conference call and webcast today at 2:00 p.m. PT / 5:00 p.m. Adjustments to reconcile net income to net cash (used in) provided by operating activities: Changes in operating assets and liabilities: Net cash (used in) provided by operating activities, Net cash provided by financing activities, Net (decrease) increase in cash, cash equivalents, and restricted cash, Cash, cash equivalents, and restricted cash, beginning of period, Cash, cash equivalents, and restricted cash, end of period, Property and equipment included in accounts payable and accrued expenses, Deferred offering costs included in accounts payable and accrued expenses, RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES. Every fig style release includes a set of Core Colors (Black, Ceil Blue, Graphite, Navy, Burgundy, and Royal . This press release contains various forward-looking statements about the Company within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are based on current management expectations, and which involve substantial risks and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, such forward-looking statements. Today, Im happy to discuss their new Fall Color options and an Update on Quality 1-year later! Net revenues were $110.1 million, an increase of 26.4% year over year, driven by higher average order values and strength in lifestyle products. A recording will be available shortly after the conclusion of the call until 11:59 p.m. (1) Net income, as adjusted, diluted earnings per share, as adjusted, adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures. Our Core Colors (Black, Ceil Blue, Graphite, Navy, Royal Blue, and Burgundy) are replenished/restocked frequently, so have no fear therethose should almost always be available. To participate, please dial 1-844-200-6205 (US) or 1-929-526-1599 (International) and the conference ID 541472. All sizes of our Core Scrubs are replenished frequently and should never be out of stock. What Does Scale Look Like On A Fiddle Leaf Fig? 2021, Prepaid expenses and other current assets, Class A Common stock par value $0.0001 per share, 1,000,000,000 shares authorized as of September 30, 2022 and December 31, 2021; 159,025,697 and 152,098,257 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively, Class B Common stock par value $0.0001 per share, 150,000,000 shares authorized as of September 30, 2022 and December 31, 2021; 6,872,643 and 12,158,187 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively, Preferred stock par value $0.0001 per share, 100,000,000 shares authorized as of September 30, 2022 and December 31, 2021; zero shares issued and outstanding as of September 30, 2022 and December 31, 2021, Total liabilities and stockholders equity, STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS), Net income (loss) before provision for income taxes, Net income (loss) and comprehensive income (loss), Earnings (loss) attributable to Class A and Class B common stockholders, Weighted-average shares outstandingbasic, Weighted-average shares outstandingdiluted. 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