On March 08, Figs Inc. (FIGS) reported its financial results for the fourth quarter and full-year 2021. Consequently, the stock surged in the after-hours on Tuesday.
During the regular session, the stock varied between a high of $14.53 and a low of $13.35. It seems investors were looking forward to a beat earnings report as the stock closed the session in the green. At the close of the session, FIGS had a value of $14.04 per share with an increase of 3.54%. The session reported an above-average volume of 5.32 million. Following the announcement, the stock surged up to add a further 10.40% at an after-hours volume of 250.76K shares. Hence, the stock was trading at a price of $15.50 per share in the after-hours on Tuesday.
The direct-to-customer healthcare apparel and lifestyle company, Figs Inc. was founded in 2013. Currently, the company has a market capitalization of $2.22 billion with its 151.66 million shares outstanding. In the past five days, FIGS stock has declined by 5.20% while losing 22.62$ last month. The stock stands at a year-to-date loss of 49.06%.
FIGS’ 2021 Financials
Q4 2021
In Q4 2021, the company had net revenues of $128.7 million with YOY growth of 42.7%.
Moreover, the gross margin was 69.9% while the adjusted EBITDA was $31.9 million in the quarter.
FIGS reported an adjusted net income of $18.6 million with adjusted diluted EPS of $0.09.
Fiscal 2021
The company reported full-year 2021 revenues of $419.6 million with a growth of 59.5% YOY.
Furthermore, the gross margin was 71.8% and adjusted EBITDA was $105.2 million in fiscal 2021.
The adjusted net income in fiscal 2021, was $55.9 million with an adjusted diluted EPS of $0.30.
2022 Outlook
For fiscal 2022, the company expects net revenues between $550 and $560 million. Additionally, the expected gross margin and adjusted EBITDA margin are 70%+ and 20%+ respectively.
Recent Participation
On January 10, 2022, the company participated in the 24th Annual ICR Conference. The company’s co-Chief Executive Officers, Heather Hasson and Trina Spear along with Chief Financial Officer, Daniella Turenshine participated in a fireside chat at the conference.
FIGS’ Oximeters Donation
On January 05, the company announced including a free fingertip pulse oximeter in the first 10,000 orders of its products through its website and mobile app. The reason for this was to increase awareness about monitoring oxygen levels, particularly in the Covid surge.
