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FIGS, Inc. - FIGS STOCK NEWS

Welcome to our dedicated page for FIGS news (Ticker: FIGS), a resource for investors and traders seeking the latest updates and insights on FIGS stock.

FIGS, Inc. (FIGS) is a pioneering healthcare apparel company revolutionizing the traditional $10 billion medical apparel industry. Known for its focus on innovation, FIGS utilizes premium fabrics that are not only ridiculously soft but also highly functional. Their scrubs are anti-microbial, wrinkle-resistant, stain-repellent, lint-free, and offer four-way stretch, ensuring comfort and durability for medical professionals.

FIGS operates through a customer-centric, vertically integrated e-commerce platform, transforming the way healthcare professionals shop for their apparel. This approach has streamlined the purchasing process, making it more efficient and user-friendly.

A key initiative of the company is Threads for Threads, where for every set of scrubs sold, FIGS donates a set to a healthcare provider in need. This initiative underscores the company's commitment to social responsibility.

FIGS has successfully raised over $10 million in capital from prominent investors, including Campfire Capital, JH Partners, Mohr Davidow Ventures, Irving Place Capital, Raptor Ventures, Karlin Ventures, Riverwood Capital, 500 Startups, Suffolk Equity Partners, the Milken Family, Will Smith, Peter Morton, Steve Tisch, and John Fisher. This financial backing has enabled the company to expand its product offerings beyond scrubs to include outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.

The company’s products are primarily marketed and sold within the United States through its digital platforms, ensuring a wide reach and accessibility for its customers. FIGS continues to innovate and expand its product lines to meet the evolving needs of healthcare professionals.

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FIGS, Inc. (NYSE: FIGS) has appointed three new independent directors to its Board of Directors, effective April 1, 2022. A.G. Lafley, Ken Lin, and Jeffrey Wilke bring extensive experience in public company leadership, technology, and operations. Lafley previously served as CEO of Procter & Gamble, Lin is the founder of Credit Karma, and Wilke held key leadership roles at Amazon. Co-CEO Heather Hasson expressed confidence in their ability to help FIGS capitalize on growth opportunities in the healthcare apparel market.

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FIGS, Inc. reported a record net revenue of $420 million for 2021, marking a 60% increase year-over-year. In Q4 2021, the company achieved net revenues of $128.7 million, up 42.7%. However, the gross margin decreased to 69.9%. The net income for the full year was a loss of $9.6 million, impacted by stock-based compensation related to its IPO. Active customers grew by 46% to 1.9 million, with an outlook for 2022 net revenues between $550-$560 million.

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FIGS, Inc. (NYSE: FIGS) will release its fourth quarter and full year 2021 results on March 8, 2022, after U.S. markets close. A conference call will follow at 2:00 p.m. PT to discuss financial results and outlook. A shareholder letter detailing the results will be published on the investor relations website. Shareholders can submit questions via the Say Q&A platform starting March 1, 2022. The Q&A will close on March 7, 2022. For more information, visit ir.wearfigs.com.

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FIGS, Inc. (NYSE: FIGS) announced preliminary and unaudited results for Q4 and full year 2021, reporting net revenues of $128 million for Q4, a 42% increase from Q4 2020, and $419 million for the full year, up 59% year-over-year. Active customers grew by 46% to 1.9 million. The average order value rose to $113. The company aims for over $1 billion in annual net revenues by 2025, with a gross margin of at least 70% and adjusted EBITDA margin of over 20%. These results highlight FIGS’ growth trajectory in the healthcare apparel market.

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FIGS, Inc. (NYSE: FIGS) announced its participation in a fireside chat at the 24th Annual ICR Conference on January 10, 2022, at 2:00 PM EST. The Co-CEOs, Heather Hasson and Trina Spear, along with CFO Daniella Turenshine, will engage in this discussion. The chat will be accessible via live webcast and will be archived for 90 days. FIGS is known for its direct-to-consumer healthcare apparel brand that focuses on providing comfort, durability, and style to healthcare professionals through its digital platform.

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FIGS, Inc. (NYSE: FIGS) announced the retirement of CFO Jeffrey Lawrence, effective December 24, 2021. Daniella Turenshine, previously Senior VP of Finance and Strategy, will succeed him. Under her leadership, FIGS has achieved significant revenue growth and profitability. Lawrence praised the company’s IPO success and expressed confidence in Turenshine’s capabilities. Both executives highlighted a commitment to the healthcare community and the company’s future growth. The transition reflects FIGS' strategic direction as it continues to innovate in the healthcare apparel sector.

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FIGS, Inc. (NYSE: FIGS) reported its third-quarter 2021 financial results, raising its full-year revenue outlook to $410 million, up from $395 million. The company continues to focus on providing advanced healthcare apparel to professionals through its direct-to-consumer model. A conference call is scheduled for November 10, 2021, at 2:00 p.m. PT to discuss these results and the business outlook.

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FIGS, Inc. (NYSE: FIGS) has announced a new shareholder Q&A platform to facilitate interaction before its Q3 2021 earnings conference call, scheduled for November 10, 2021, at 2:00 p.m. PT / 5:00 p.m. ET. Shareholders can submit and upvote questions via the Say platform until November 9, 2021.

This initiative aims to enhance shareholder engagement and improve transparency around financial and business results.

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FAQ

What is the current stock price of FIGS (FIGS)?

The current stock price of FIGS (FIGS) is $6.215 as of November 4, 2024.

What is the market cap of FIGS (FIGS)?

The market cap of FIGS (FIGS) is approximately 1.1B.

What is FIGS, Inc. known for?

FIGS, Inc. is known for revolutionizing the medical apparel industry with premium, functional scrubs and healthcare apparel.

What are the key features of FIGS medical apparel?

FIGS medical apparel is anti-microbial, wrinkle-resistant, stain-repellent, lint-free, and offers four-way stretch.

How does FIGS sell its products?

FIGS sells its products primarily through its customer-centric, vertically integrated e-commerce platform.

What is the Threads for Threads initiative?

Through the Threads for Threads initiative, FIGS donates a set of scrubs to a healthcare provider in need for every set sold.

Who are some of FIGS' investors?

FIGS’ investors include Campfire Capital, JH Partners, Mohr Davidow Ventures, Irving Place Capital, Raptor Ventures, and others.

What other products does FIGS offer besides scrubs?

FIGS offers outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.

Where are FIGS products marketed and sold?

FIGS products are primarily marketed and sold in the United States via their digital platforms.

How has FIGS transformed the way medical professionals shop?

FIGS has streamlined the shopping process for medical professionals through its efficient and user-friendly e-commerce platform.

What is unique about FIGS' fabric technology?

FIGS' fabric technology includes features like anti-microbial properties, wrinkle resistance, stain repellence, lint-free quality, and four-way stretch.

How does FIGS support social responsibility?

FIGS supports social responsibility through its Threads for Threads initiative, donating scrubs to healthcare providers in need.

FIGS, Inc.

NYSE:FIGS

FIGS Rankings

FIGS Stock Data

1.06B
162.58M
21.28%
75.48%
13.54%
Apparel Manufacturing
Apparel & Other Finishd Prods of Fabrics & Similar Matl
Link
United States of America
SANTA MONICA