FIGS, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 04:05 pm EDT
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FIGS, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 142.36 million compared to USD 128.59 million a year ago. Net income was USD 6.15 million compared to USD 4.04 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to USD 0.02 a year ago. Diluted earnings per share from continuing operations was USD 0.03 compared to USD 0.02 a year ago.
For the nine months, sales was USD 400.73 million compared to USD 360.94 million a year ago. Net income was USD 12.64 million compared to USD 17.8 million a year ago. Basic earnings per share from continuing operations was USD 0.08 compared to USD 0.11 a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to USD 0.09 a year ago.
FIGS, Inc. operates as a direct-to-consumer healthcare apparel and lifestyle brand. The Company sells products designed to serve the particular needs of healthcare professionals primarily through its direct-to-consumer (DTC) digital platform, consisting of its Website, mobile app and B2B business (TEAMS). Its offerings include scrubwear and non-scrubwear, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel. Its non-scrubwear products are designed as an integrated system that complements its scrubwear and are comprised of base layer and outer layer products. Its underscrubs include sports bras, performance leggings, performance tops and super-soft pima cotton tops. Its under underscrubs include several styles of underwear. Its outer layer products include footwear, lab coats, and a variety of vests, jackets, and fleeces. It also offers necessities, such as scrub caps, lanyards, badge reels, tote bags, baseball caps and beanies.