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. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected and you are cautioned not to place undue reliance on these forward-looking statements. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. We market and sell our products directly through our digital platform to provide a seamless experience for healthcare professionals. 8.2K views, 2 likes, 0 loves, 0 comments, 0 shares, Facebook Watch Videos from FIGS: Introducing our NEW color, Hydrogreen! Active customers as of September 30, 2022 and 2021, respectively, net revenues per active customer as of September 30, 2022 and 2021, respectively, and average order value for the three and nine months ended September 30, 2022 and 2021, respectively, are presented in the following tables: Investors: (In thousands, except share and per share data), 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. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking. This is just the beginning! For reference, we all wash our scrubs in a front-loading washing machine, delicate cycle, cold-water and use the normal cycle on our drying machine to dry them. 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. So, 5 shifts=6 sets of scrubs. Click to view our accessibility statement link. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. . There will be something else soon!Jan 5, 2022. Browse our uniforms that blend a relaxed feel with an elegant look, and order your galaxy blue scrubs today! 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. FIGS management will host a conference call and webcast today at 2:00 p.m. PT / 5:00 p.m. (4) Net income (loss) margin represents Net income (loss) as a percentage of Net revenues. The fabric seems to have completely changed, as has the fit of the scrubs. Said another nurse: I own a few sets of Figs cargo pants and Casma tops. The Company has also included active customers, net revenues per active customer and average order value, which are key operational and business metrics that are important to understanding Company performance. Ultra-flattering, super functional and ridiculously easy to throw-on, zip-up and go. I was able to get my hands on a few styles and wanted to share my opinions and review of them with you. After submitting your request, you will receive an activation email to the requested email address. (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 March 31, 2022. These symbols will be available throughout the site during your session. ET on May 19, 2022. Regular Length Pants Review, FIGS Scrubs Review of Activewear Bra, Leggings & Socks. Find out more about how we use your information in our privacy policy and cookie policy. If youre looking for cheap scrubs, Figs will not be your first pick.3 Jun 2020, Your FIGs scrubs have to be washed in cold water and line dried but they will still shrink and accumulate lint.Mar 3, 2018, Were updating our sizing slightly to ensure every set of FIGS fits everybody and every body perfectly. For more information regarding the Companys use of non-GAAP financial measures, please see the section titled Non-GAAP Financial Measures and Key Operating Metrics.. Total orders are the summation of all completed individual purchase transactions in a given period. Active customers as of September 30, 2022 and 2021, respectively, net revenues per active customer as of September 30, 2022 and 2021, respectively, and average order value for the three and nine months ended September 30, 2022 and 2021, respectively, are presented in the following tables: View source version on businesswire.com: https://www.businesswire.com/news/home/20221110006032/en/. But we also launch new colors all the timeyou might find something you'll like even more! 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. In addition to the GAAP financial measures set forth in this press release, the Company has included non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K. Outfit Inspiration: 5 Easy Fall Outfit Ideas, Best Leather Jacket Alternative | Black Twill Moto Jacket, 2 Go-To Dresses for Any Occasion: LBD + Lace, Ultimate Holiday Gift Guide: Gifts for Healthcare Professionals, FIGS Scrubs Petite vs. Two new Limited Edition colors have arrived that celebrate your two biggest obsessions here in Core and Limited ESPRESSO + MINERAL MAUVE. How do I play music from my phone to my 2007 Honda Accord. All other shades of figs are considered to be dark figs. 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. FIGS was recognized as one of the fastest-growing companies in the United States by Inc. in 2018, with the company having a three-year growth of 9,948%. The Company calculates net income, as adjusted, as net income adjusted to exclude transaction costs, expenses related to non-ordinary course disputes, stock-based compensation, including expense related to award modifications, accelerated performance awards and ambassador grants in connection with the IPO, and expense resulting from the retirement of the Company's previous CFO, and the income tax impact of these adjustments. Contents and Care: 92% Recycled Polyester 8% Spandex. cayuga county sheriff arrests. Photo by - https://multivu.com. An archive of the webcast will be available on FIGS investor relations website at ir.wearfigs.com. The following table presents a reconciliation of Net income, as adjusted and Diluted earnings per share, as adjusted to Net income (loss), which is the most directly comparable financial measure calculated in accordance with GAAP: Three months ended IR@wearfigs.com. FIGS uses the ir.wearfigs.com website, as well as press releases, filings with the U.S. Securities and Exchange commission and public conference calls and webcasts, in order to achieve broad, non-exclusionary distribution of information to the public and for complying with our disclosure obligations under Regulation FD. 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. ET to discuss its financial and business results and outlook. I am happy to wear their burgundy or wine color in this post. Velma is an American adult animated mystery comedy television series based on the character Velma Dinkley from the Scooby-Doo franchise. The following important factors and uncertainties, among others, could cause actual results, performance or achievements to differ materially from those described in these forward-looking statements: the impact of COVID-19 and macroeconomic trends on the Companys operations; the Companys ability to maintain its recent rapid growth; the Companys ability to maintain profitability; the Companys ability to maintain the value and reputation of its brand; the Companys ability to attract new customers, retain existing customers, and to maintain or increase sales to those customers; the success of the Companys marketing efforts; the Companys ability to maintain a strong community of engaged customers and Ambassadors; negative publicity related to the Companys marketing efforts or use of social media; the Companys ability to successfully develop and introduce new, innovative and updated products; the competitiveness of the market for healthcare apparel; the Company's ability to maintain its key employees; the Companys ability to attract and retain highly skilled team members; risks associated with expansion into, and conducting business in, international markets; changes in, or disruptions to, the Companys shipping arrangements; the Companys ability to accurately forecast customer demand, manage its inventory, and plan for future expenses; the impact of changes in consumer confidence, shopping behavior and consumer spending on demand for the Company's products; the Companys reliance on a limited number of third-party suppliers; the fluctuating costs of raw materials; the Companys failure to protect its intellectual property rights; the fact that the operations of many of the Companys suppliers and vendors are subject to additional risks that are beyond its control; and other risks, uncertainties, and factors discussed in the Risk Factors section of the Companys Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 to be filed with the Securities and Exchange Commission (SEC), the Companys Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 10, 2022, and the Companys other periodic filings with the SEC. (In thousands, except share and per share data), Prepaid expenses and other current assets, Class A Common stock par value $0.0001 per share, 1,000,000,000 shares authorized as of March 31, 2022 and December 31, 2021; 158,530,688 and 152,098,257 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively, Class B Common stock par value $0.0001 per share, 150,000,000 shares authorized as of March 31, 2022 and December 31, 2021; 6,196,339 and 12,158,187 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively, Preferred stock par value $0.0001 per share, 100,000,000 shares authorized as of March 31, 2022 and December 31, 2021; zero shares issued and outstanding as of March 31, 2022 and December 31, 2021, Total liabilities and stockholders equity, STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME, Net income before provision for income taxes, Earnings attributable to Class A and Class B common stockholders, Weighted-average shares outstandingbasic. Outfit Details:FIGS Catarina XXS c/o; FIGS Yola XS c/o (can wear XXS as well); Crocs Kids Size;Sheec Socks(20% off with code PSSVIP20);Aveda Hair Care. We market and sell our products directly through our digital platform to provide a seamless experience for healthcare professionals. The Company calculates net revenues per active customer as the sum of the total net revenues in the preceding 12-month period divided by the current period active customers. The Company calculates average order value as the sum of the total net revenues in a given period divided by the total orders placed in that period. They stand up to repetitive movements and motions and dont bunch up or wrinkle in the usual places. For information regarding how the Company calculates its key operational and business metrics, please see the section titled Non-GAAP Financial Measures and Key Operating Metrics., (4) The Company has not provided a quantitative reconciliation of its adjusted EBITDA margin outlook to a GAAP net income margin outlook because it is unable, without making unreasonable efforts, to project certain reconciling items. FIGS on Instagram: ESPRESSO + MINERAL MAUVE. Required fields are marked *. Women. You can sign up for additional alert options at any time. The Company calculates adjusted EBITDA margin by dividing adjusted EBITDA by net revenues. For lifewear vests, fleece jackets, and tees or underscrubs we have had the same positive experience. 6 Steps to Cultivate Joy at Work:How to Simplify your work life so you can enjoy making memories with your family more! Importantly, our brand remains strong and we continue to gain market share as we strive to become the largest provider of scrubs and lifestyle apparel to the healthcare community.. The Company calculates adjusted EBITDA margin by dividing adjusted EBITDA by net revenues. 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. Every fig style release includes a set of Core Colors (Black, Ceil Blue, Graphite, Navy, Burgundy, and Royal . Looking ahead, we are well positioned to fuel profitable growth for the years to come due to our strong foundation, recession resistant industry and deep understanding of the healthcare community.. 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. SANTA MONICA, Calif.-- (BUSINESS WIRE)-- FIGS, Inc. (NYSE: FIGS) (the "Company"), the direct-to-consumer healthcare apparel and lifestyle brand, today released its first quarter 2022 financial results and published a financial highlights presentation on its investor relations website at ir.wearfigs.com/financials/quarterly-results . I was able to get my hands on a few styles and wanted to share my opinions and review of them with you. ICYMI: THE NEW FIGS APP IS HERE. FIGS Releases Third Quarter 2022 Financial Results. You can change your choices at any time by visiting your privacy controls. The call is also accessible via webcast at ir.wearfigs.com. IR@wearfigs.com. MEN'S HOME. FIGS management will host a conference call and webcast today at 2:00 p.m. PT / 5:00 p.m. The Company calculates diluted earnings per share, as adjusted as net income, as adjusted divided by diluted shares outstanding. 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