- Adjusted EBITDA margin improved by 390 basis points year-over-year to 12.9%, with adjusted EBITDA of $19.7 million.
- FIGS reported its largest revenue quarter in history with net revenues increasing 6% year-over-year to $152.6 million, surpassing expectations.
- G&A expenses decreased to 22.8% of net revenues from 24.8% last year, mainly due to lower stock-based compensation despite higher people costs.
- Gross margin contracted 40 basis points to 67%, impacted by higher inventory reserves and tariffs but partially offset by duty drawback and lower return rates.
- Marketing expense was 15.2% of net revenues, slightly down from 15.9% last year.
- Net income was $7.1 million or diluted EPS of $0.04, compared to $1.1 million or $0.01 EPS last year.
- Scrubwear category grew 8%, the highest growth in the past 7 quarters, representing 83% of net revenues.
- Selling expenses decreased to 22.6% of net revenues from 25.6% last year, driven by efficiencies in fulfillment and shipping.
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Dafinchi