FIGS Net Revenue Jumps 4.4% in Q2, Exceeds Outlook
By Karen Roman
Healthcare apparel brand FIGS, Inc. (NYSE: FIGS) said net revenue was $144.2 million for the second quarter, up 4.4% year over year.
Gross margin was 67.4% in Q2 2024, down 2.1% from the same period the year prior, while net income decreased $3.5 million to reach $1.1 million, it said.
Adjusted EBITDA was $12.9 million, declining $6 million year over year, it reported. Adjusted EBITDA margin was 9.0% compared to 13.7% in Q2 2023, the company said in a statement.
“Both net revenues and adjusted EBITDA margin exceeded our outlook, and we saw continued momentum in the business, including a positive year-over-year repeat frequency trend,” said Trina Spear, FIGS’ CEO and Co-Founder. “Our strategy of combining pioneering product innovation with powerful top of funnel marketing is resonating.”
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