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FIGS, Inc., together with its subsidiary, FIGS Canada, Inc., operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. The company designs and sells scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel. It also offers sports apparel, performance leggings and tops, super-soft pima cotton tops, vests, fleeces, and jackets; and necessities comprising scrub caps, lanyards, badge reels, bags, baseball caps, and beanies. The company markets and sells its products to healthcare professionals through its direct-to-consumer digital platform comprising website, mobile app, and B2B business, as well as retail stores. FIGS, Inc. was incorporated in 2013 and is headquartered in Santa Monica, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $631M | $47M | $34M | $53M | 7.8% | 13.6% | 1159.2% |
| 2024 | $556M | $9M | $3M | $64M | 0.7% | 1.8% | -88.0% |
| 2023 | $546M | $37M | $23M | $85M | 6.0% | 7.9% | 6.8% |
| 2022 | $506M | $40M | $21M | $-41M | 6.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 505.83 | 545.65 | 555.56 | 631.10 |
| Cost Of Revenue | 151.38 | 168.68 | 179.94 | 211.26 |
| Gross Profit | 354.46 | 376.96 | 375.62 | 419.84 |
| Operating Expense | 316.79 | 342.92 | 373.36 | 381.69 |
| Operating Income | 37.67 | 34.05 | 2.27 | 38.15 |
| EBITDA | 39.59 | 36.99 | 8.96 | 47.18 |
| EBIT | 37.67 | 34.05 | 2.27 | 38.15 |
| Pretax Income | 38.73 | 40.81 | 14.34 | 47.21 |
| Tax Provision | 17.54 | 18.17 | 11.62 | 12.96 |
| Net Income | 21.19 | 22.64 | 2.72 | 34.25 |
| Net Income Common Stockholders | 21.19 | 22.64 | 2.72 | 34.25 |
| Total Expenses | 468.17 | 511.60 | 553.29 | 592.95 |
| Interest Expense | 0 | 0 | 0 | 0 |
| Interest Income | 1.71 | 6.78 | 11.24 | 8.75 |
| Selling General And Administration | 316.79 | 342.92 | 373.36 | 381.69 |
| Normalized EBITDA | 39.59 | 36.99 | 8.96 | 47.18 |
| Normalized Income | 21.19 | 22.64 | 2.72 | 34.25 |
| Basic EPS | 0.13 | 0.13 | 0.02 | 0 |
| Diluted EPS | 0.11 | 0.12 | 0.02 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.27 |
| Net Income From Continuing Operation Net Minority Interest | 21.19 | 22.64 | 2.72 | 34.25 |
| Reconciled Depreciation | 1.92 | 2.94 | 6.69 | 9.04 |
| Reconciled Cost Of Revenue | 151.38 | 168.68 | 179.94 | 211.26 |
| Net Interest Income | 1.71 | 6.78 | 11.24 | 8.75 |
| Net Income From Continuing And Discontinued Operation | 21.19 | 22.64 | 2.72 | 34.25 |
| Total Operating Income As Reported | 37.67 | 34.05 | 2.27 | 38.15 |
| Diluted Average Shares | 187.55 | 182.41 | 180.10 | 0 |
| Basic Average Shares | 165.27 | 168.07 | 169.20 | 0 |
| Diluted NI Availto Com Stockholders | 21.19 | 22.64 | 2.72 | 34.25 |
| Net Income Including Noncontrolling Interests | 21.19 | 22.64 | 2.72 | 34.25 |
| Net Income Continuous Operations | 21.19 | 22.64 | 2.72 | 34.25 |
| Other Income Expense | -0.65 | -0.01 | 0.83 | 0.31 |
| Other Non Operating Income Expenses | -0.65 | -0.01 | 0.83 | 0.31 |
| Net Non Operating Interest Income Expense | 1.71 | 6.78 | 11.24 | 8.75 |
| Interest Expense Non Operating | 0 | 0 | 0 | 0 |
| Interest Income Non Operating | 1.71 | 6.78 | 11.24 | 8.75 |
| Selling And Marketing Expense | 196.14 | 202.24 | 230.47 | 238.96 |
| General And Administrative Expense | 120.65 | 140.68 | 142.88 | 142.74 |
| Other Gand A | 120.65 | 140.68 | 142.88 | 142.74 |
| Operating Revenue | 505.83 | 545.65 | 555.56 | 631.10 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| FIGS, Inc.this co. | FIGS | $2.5B | 79.11↑ premium | 5.70 | 7.8% | 47.90 |
| Global Business Travel Group, Inc. | GBTG | $3.0B | 26.18 | 1.87 | 6.6% | 12.80 |
| Visteon Corporation | VC | $2.9B | 18.07 | 1.85 | 12.2% | 6.60 |
| Brightstar Lottery PLC | BRSL | $2.4B | - | 2.76 | 9.2% | 6.75 |
| Peloton Interactive, Inc. | PTON | $2.4B | - |
| -7.24 |
| 28.7% |
| 18.11 |
| Ardagh Metal Packaging S.A. | AMBP | $2.3B | - | -3.30 | -1.6% | 8.88 |
| Capri Holdings Limited | CPRI | $2.3B | - | 21.91 | -317.7% | 18.31 |
| Driven Brands Holdings Inc. | DRVN | $2.1B | - | 2.64 | -48.2% | 12.08 |
| The Goodyear Tire & Rubber Company | GT | $2.0B | - | 0.62 | -50.6% | 6.94 |
| Peer Median | - | 22.13 | 1.86 | 2.5% | 10.48 | |