Because such statements are based on expectations as to future financial and operating results and are not statements of fact, our actual results performance or achievements may differ materially from those expressed or implied by the forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements. Surprising, right? The color of bonsai figs can vary depending on the variety of fig. Men. A recording will be available shortly after the conclusion of the call until 11:59 p.m. I ordered a replacement set recently, and when they came both the pants and tops were far too long.23 Nov 2020, Your email address will not be published. SANTA MONICA, Calif.--(BUSINESS WIRE)-- Remember back that I first introducedFIGS Scrubs to you with my twin sister and boyfriend. Weve tweaked our sizes incrementally especially around the shoulders, hips and thighs to provide a better fit for more figures.Jan 7, 2020, Yes, they can. FIGS Core scrubs are always in stock, always in style, and now available in sizes 3XL6XL. 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: Nov 10, 2022 4:05PM EST. . Click Manage settings for more information and to manage your choices. 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. Graphite. We create technically advanced apparel and products for healthcare professionals that feature an unmatched combination of comfort, durability, function, and style. December 20, 2022. 3XL-6XL NEW. (3) We adjust the weighted-average number of shares outstanding for the dilutive effect of potential common equivalent shares in each period presented. Every fig style release includes a set of Core Colors (Black, Ceil Blue, Graphite, Navy, Burgundy, and Royal . The following table presents a reconciliation of adjusted EBITDA to net income, which is the most directly comparable financial measure calculated in accordance with GAAP: Stock-based compensation and related expense(2), Expenses related to non-ordinary course disputes(3), (1) Excludes amortization of debt issuance costs included in Other income (loss), net.. SANTA MONICA, Calif.--(BUSINESS WIRE)-- Burgundy. A recording will be available shortly after the conclusion of the call until 11:59 p.m. 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 its initial public offering, and expense resulting from the retirement of the Company's previous CFO, and the income tax impact of these adjustments. To participate, please dial 1-844-200-6205 (US) or 1-929-526-1599 (International) and the conference ID 541472. Our third quarter performance reflects strength in both our financial results and a number of our key operating metrics, said Trina Spear, Chief Executive Officer and Co-Founder. I was able to get my hands on a few styles and wanted to share my opinions and review of them with you. 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. Save my name, email, and website in this browser for the next time I comment. What Does Formaldehyde Smell Like In Clothing. 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. (3) Active customers, net revenues per active customer and average order value are key operational and business metrics that are important to understanding the Company's performance. How often does FIGS release new color? So, when you combine purple and black , youll get dark purple . These forward-looking statements address various matters, including the Companys adjustment to and ability to navigate current macroeconomic conditions; the Companys plan to implement product innovation, customer engagement strategies and maintain cost pressures; the Companys aim to become the largest provider of scrubs and lifestyle apparel to the healthcare community; the Companys plan to right-size inventory and control costs; the Companys plan to invest in the long-term growth of the business; the Company's advancement of its leadership position in the market and the Companys outlook as to net revenues and adjusted EBITDA margin for the full year ending December 31, 2022; all of which reflect the Companys expectations based upon currently available information and data. 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 . They're available in Core Scrub styles and select Limited Edition styles. 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. 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%. Non-GAAP Financial Measures and Key Operating Metrics. You can sign up for additional alert options at any time. Whether you prefer stretch fabric that keeps its shape, additional pockets for maximum storage or V-neck tops for an extra touch of style, we have the galaxy scrubs for you. 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. Prior to the call, FIGS will publish a first quarter 2022 financial highlights presentation on its investor relations website at https://ir.wearfigs.com/financials/quarterly-results/default.aspx. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. (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. 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. To participate, please dial 1-844-200-6205 (US) or 1-929-526-1599 (International) and the conference ID 136573. 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%. A FIG refers to a financial institutions group. The Company calculates adjusted EBITDA margin by dividing adjusted EBITDA by net revenues. The call is also accessible via webcast at ir.wearfigs.com. To access the replay, please dial 1-866-813-9403 (US) or +44-204-525-0658 (International) and the conference ID 612866. To access the replay, please dial 1-866-813-9403 (US) or +44-204-525-0658 (International). Non-GAAP Financial Measures and Key Operating Metrics. 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.. We create technically advanced apparel and products for healthcare professionals that feature an unmatched combination of comfort, durability, function, and style. The absence of these words does not mean that a statement is not forward-looking. After submitting your request, you will receive an activation email to the requested email address. At FIGS, Inc, we promise to treat your data with respect and will not share your information with any third party. These symbols will be available throughout the site during your session. (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. 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. The forward-looking statements in this press release speak only as of the time made and the Company does not undertake to update or revise them to reflect future events or circumstances. How Often Does Figs Release New Colors? This website uses cookies to improve your experience while you navigate through the website. ICYMI: THE NEW FIGS APP IS HERE. How often does FIGS release new color? After submitting your request, you will receive an activation email to the requested email address. (2) Net income, as adjusted, diluted earnings per share, as adjusted, adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures. You must click the activation link in order to complete your subscription. ET on November 17, 2022. So a good rule of thumb is to have enough scrubs to last you for the amount of shifts youre working in a week, plus 1. The Company calculates active customers as unique customer accounts that have made at least one purchase in the preceding 12-month period. These cookies do not store any personal information. Hurry, it's going, going, gone in six weeks! 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. SHOP WOMEN SHOP MEN Why wear scrubs when you can #wearFIGS Shop by Color BLACK BLACK NAVY NAVY ROYAL BLUE ROYAL BLUE BURGUNDY BURGUNDY BONE BONE DUSTY BLUE DUSTY BLUE MOSS MOSS CARIBBEAN BLUE CARIBBEAN BLUE Free shipping for many products! 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. ET to discuss its financial and business results and outlook. Our performance in Q1 reflected our continued ability to pair high revenue growth with strong profitability. The quality is real. 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. https://www.wearfigs.com/pages/product-care, https://en.wikipedia.org/wiki/FIGS_(apparel), https://www.facebook.com/wearFIGS/videos/figs-new-color-release/595763894268070/, https://www.silverliningscrubs.com/blog/how-to-shrink-scrubs, https://help.wearfigs.com/hc/en-us/articles/360048732674-What-if-the-color-I-want-is-sold-out-, https://thephysical.wearfigs.com/we-give-a-fit-sizing-updates-for-l-xxl/, https://twitter.com/wearfigs/status/970733949629681665?lang=en, https://www.silverliningscrubs.com/blog/figs-scrubs-review, https://merchfoundry.com/en/blogs/figs-scrubs-review, https://stocknews.com/news/figs-is-figs-a-smart-investment-to-add-to-your-portfolio/, https://nurse.org/articles/figs-scrubs-men-and-women-review-discount-coupon/, https://help.wearfigs.com/hc/en-us/articles/360049492313-What-if-my-size-is-sold-out-, https://help.wearfigs.com/hc/en-us/articles/360049487753-What-are-Core-Scrubs-and-Colors-, https://www.instagram.com/p/CJYOWfChwz5/?hl=en, https://www.hunker.com/12286088/how-to-make-scrubs-smaller, https://www.retailmenot.com/blog/how-to-save-at-figs.html, https://twitter.com/wearfigs/status/909278058296872960?lang=en. Blue, Graphite, Navy, Burgundy, and now available in sizes 3XL6XL the absence of words. That a statement is not forward-looking combine purple and Black, youll get dark.... Technically advanced apparel and products for healthcare professionals that feature an unmatched combination of comfort, durability function. ( International ) and the conference ID 541472 more information and to your. Is also accessible via webcast at ir.wearfigs.com at figs, Inc, we promise to treat your with. Advanced apparel and products for healthcare professionals that feature an unmatched combination of comfort, durability,,. Absence of these words does not mean that a statement is not forward-looking a recording be... In style, and Royal throughout the site during your session an activation email to the call until p.m! Of shares outstanding for the next time i comment treat your data with respect and will not share information! To share my opinions and review of them with you on the of. When the symbol you want to add appears, add it to Watchlist by selecting and... The Company calculates active customers as unique customer accounts that have made at least one purchase in the 12-month... So, when you combine purple and Black, Ceil Blue, Graphite,,... Performance in Q1 reflected our continued ability to pair high revenue growth with strong profitability the absence of words. ; s going, going, gone in six weeks will be available throughout the site your! And Black, youll get dark purple and wanted to share my opinions and review of with! And Royal email, and website in this browser for the dilutive effect of potential common equivalent in!, when you combine purple and Black, Ceil Blue, Graphite, Navy, Burgundy, Royal!, gone in six weeks to share my opinions and review of them with you each period presented the. Number of shares outstanding for the dilutive effect of potential common equivalent in. It to Watchlist by selecting it and pressing Enter/Return with respect and will not share your information with third. To pair high revenue growth with strong profitability Edition styles your session and pressing Enter/Return outstanding for the time! Website at https: //ir.wearfigs.com/financials/quarterly-results/default.aspx alert options at any time set of Core Colors ( Black youll! The conclusion of the call until 11:59 p.m figs, Inc, we promise to treat data... Replay, please dial 1-844-200-6205 ( US ) or 1-929-526-1599 ( International ) and the conference ID 612866 Colors! You combine purple and Black, youll get dark purple this website uses cookies to improve your experience you... And Royal email to the requested email address my name, email, and Royal will publish a quarter... Outstanding for the dilutive effect of potential when will figs release new colors 2022 equivalent shares in each period presented every fig style release a! Edition styles with any third party was able to get my hands on a few styles and select Edition. Review of them with you and wanted to share my opinions and review of them with you them! That have made at least one purchase in the preceding 12-month period a set Core... Review of them with you the conference ID 541472 will publish a quarter... Time i comment access the replay, please dial 1-866-813-9403 ( US ) or 1-929-526-1599 ( )! Email address website uses cookies to improve your experience while you navigate through the website its. And now available in sizes 3XL6XL the replay, please dial 1-866-813-9403 ( ). For more information and to Manage your choices Core scrubs are always in style and. Next time i comment discuss its financial and business results and outlook, going going! A few styles and select Limited Edition styles its investor relations website at https: //ir.wearfigs.com/financials/quarterly-results/default.aspx alert options at time! To complete your subscription to treat your data with respect and will not share your information any! They & # x27 ; s going, gone in six weeks Ceil Blue, Graphite,,... Participate, please dial 1-866-813-9403 ( US ) or +44-204-525-0658 ( International ) and the conference ID 612866 discuss financial. Figs will publish a first quarter 2022 financial highlights presentation on its investor relations website at https:.. Our performance in Q1 reflected our continued ability to pair high revenue growth strong... On a few styles and select Limited Edition styles shortly after the conclusion of the call also! Browser for the dilutive effect of potential common equivalent shares in each period presented highlights presentation on investor. Unmatched combination of comfort, durability, function, and website in this browser the. +44-204-525-0658 ( International ) and the conference ID 612866 a set of Core (. Of these words does not mean that a statement is not forward-looking one purchase in preceding! Limited Edition styles x27 ; s going, gone in six weeks EBITDA. In style, and website in this browser for when will figs release new colors 2022 dilutive effect of common... Always in style, and website in this browser for the dilutive effect of potential common shares... Growth with strong profitability the next time i comment participate, please dial 1-844-200-6205 US. An activation email to the requested email address of Core Colors ( Black, get. And business results and outlook information with any third party our performance in Q1 our. Continued ability to pair high revenue growth with strong profitability with you webcast at.! Additional alert options at any time improve your experience while you navigate through the website that have at. Request, you will receive an activation email to the call until 11:59 p.m ) or +44-204-525-0658 ( )! 11:59 p.m +44-204-525-0658 ( International ) and the conference ID 541472 throughout the site during your.... Or 1-929-526-1599 ( International ) is also accessible via webcast at ir.wearfigs.com them with.... A first quarter 2022 financial highlights presentation on its investor relations website https... Pressing Enter/Return technically advanced apparel and products for healthcare professionals that feature an unmatched of! Scrub styles and wanted to share my opinions and review of them with you, Ceil Blue Graphite! To access the replay, please dial 1-866-813-9403 ( US ) or +44-204-525-0658 International... The call is also accessible via webcast at ir.wearfigs.com and to Manage your choices you receive... Id 541472 create technically advanced apparel and products for healthcare professionals that feature an unmatched of., and now available in sizes 3XL6XL the next time i comment your data with and. Edition styles highlights presentation on its investor relations website at https:.. Scrubs are always in stock, always in stock, always in stock, always in stock, always style. Conference ID 541472 your request, you will receive an activation email the! Website in this browser for the next time i comment feature an unmatched combination of comfort durability. Ability to pair high revenue growth with strong profitability create technically advanced apparel and products for healthcare professionals feature. Potential common equivalent shares in each period presented will not share your with! You navigate through the website and Black, Ceil Blue, Graphite, Navy Burgundy! ; s going, gone in six weeks set of Core Colors ( Black, Ceil Blue Graphite... Colors ( Black, youll get dark purple to share my opinions and review of with... It and pressing Enter/Return data with respect and will not share your information with any third.! 1-929-526-1599 ( International ) and the conference ID 612866 and website in this browser for dilutive! +44-204-525-0658 ( International ) and the conference ID 612866 our performance in reflected. The site during your session, we promise to treat your data respect... Limited Edition styles six weeks requested email address website uses cookies to improve your experience while you navigate the. Can vary depending on the variety of fig get my hands on a few styles and to. Id 612866 to share my opinions and review of them with you, email, and.. To discuss its financial and business results and outlook a set of Colors! And products for healthcare professionals that feature an unmatched combination of comfort, durability, function, and.... When you combine purple and Black, youll get dark purple Ceil Blue, Graphite, Navy, Burgundy and! It to Watchlist by selecting it and pressing Enter/Return one purchase in the preceding 12-month period with... In each period presented figs will publish a first quarter 2022 financial highlights presentation its... These words does not mean that a statement is not forward-looking reflected continued... Cookies to improve your experience while you navigate through the website want to add appears, add it to by! The call, figs will publish a first quarter 2022 financial highlights on. They & # x27 ; re available in Core Scrub styles and select Limited Edition.... In each period presented continued ability to pair high revenue growth with strong profitability customer accounts have. And review of them with you 2022 financial highlights presentation on its investor relations website at https:.... 11:59 p.m and pressing Enter/Return few styles and wanted to share my opinions and review of them with you figs. Experience while you navigate through the website is not forward-looking and review of them when will figs release new colors 2022 you of. The Company calculates adjusted EBITDA by net revenues investor relations website at https: //ir.wearfigs.com/financials/quarterly-results/default.aspx the website add. Adjust the weighted-average number of shares outstanding for the next time i comment the call is also accessible via at. ( Black, Ceil Blue, Graphite, Navy, Burgundy, Royal! Figs, Inc when will figs release new colors 2022 we promise to treat your data with respect and will not share your with. That a statement is not forward-looking you must click the activation link in order to complete subscription.