FIGS Results Presentation Deck
November 2024, 26 slides
  1. FIGS
  2. Results Presentation Decks
earnings presentation gallate | FIGS
dis aimer in at | FIGS
our to celebrate empower serve those who serve mission | FIGS
fig large replenishment driven sector with strong long term growth fundamentals disrupting the apparel industry globally with best in class product and storytelling that centers around an community sustainable brand differentiators within marketing product innovation and merchandising strategy numerous growth opportunities within the us international teams and retail community hubs strong balance sheet and cash flow provide flexibility to both invest in growth and return value to shareholders why figs arty | FIGS
at a glance executed brand campaign in the company history opened second community hub retail store in completed state of the art fulfillment center transition net revenues by geography declined and international grew net revenues by category grew and non declined given the impacts of footwear inventory and pricing as well as action to phase down select lines ahead of future non upgrades generated free cash flow of million and repurchased million worth of common stock through our share repurchase program gros margin margin us i lilt | FIGS
ope a in active customers net revenues per active customer key operating metrics | FIGS
ope a in average order value key operating metrics | FIGS
div a product innovation with purpose build and deepen connection with community international teams retail operate with financial discipline and invest in the future optimize supply chain to support innovation and future growth continue to improve fulfillment to support scale increase reliability flexibility and speed to market strategy continued disruption technical across styles categories fabrications better serve our professionals drive awareness engagement through powerful purposeful storytelling unwavering commitment advocacy expand penetrate global by reaching them where they are we are now countries opportunity serve institutions around world who want professionalize standardize their our by engaging them new ways | FIGS
product innovation we leveraged strategic collaborations and product innovation to bring exciting new products across the layering system to our community figs new balance is the first of its kind this proprietary model exclusive for figs was designed specifically for professionals who go the extra mile shift after shift figs team capsule included iconic pinnacle pieces like our figs team and figs team on shift stadium jacket engineered with peak performance function and comfort made to win gold high waisted scrub pants brings our ultra comfy ultra flexible fabric in a new silhouette our favorite scrub jacket has met its match with our scrub pants complete with pockets high stretch and maximum figs core is the first digital stethoscope with high fidelity audio a full color display with disease indication and lead designed specifically for figs with custom branding and digital interface | FIGS
build and deepen connection with community in our team celebrated the team medical team at the team welcome experience and our figs celebration of service in we showed up for our community by outfitting the medical professionals supporting the and and celebrating this community in a way that has never been done before we brought the to new york city with our opening ceremony at square park where we hosted over professionals to support the team medical team and awesome humans everywhere in we hosted a grand opening for our second community hub in the event welcomed from the greater and northeast region for a private celebration and ribbon cutting ceremony | FIGS
impact voting engagement campaign figs has partnered with the non profit voting organization to empower professionals to make their voices heard at the polls studies show workers vote less often than workers in other professions yet their perspective is essential to creating the world we want to live in together with figs launched a custom tool for workers to register request mail in ballots and access up to date voting information specific to their state amplifying their influence on issues that matter to them and the future of this breast cancer awareness month figs was to support the fight against breast cancer with a contribution to cancer funding critical screenings education and community clinics our limited edition color ing pink symbolizes our unwavering commitment featuring three awesome humans and breast cancer survivors our campaign inspires us all to join the fight because cancer cro | FIGS
i nat i expanding global presence disrupting global apparel with product innovation and powerful top of funnel marketing campaigns experienced record net revenues in international with year over year growth in and comparing against an exceptional year over year growth rate in growth attributable to increasing sales from existing base of international markets while also adding new markets year to date continued to localize site experience as well as build out organic and paid marketing channels via ambassador network and digital marketing look to open new markets in and beyond excellence west option bes a genial a | FIGS
serving institutions serving hospitals medical offices and concierge clinics to professionalize and standardize their teams achieved record net revenues in teams top of funnel campaign drove a surge in teams leads above trend during the month of august plan to invest in an outbound sales function to more build out new relationships of the teams business is inbound to date continue to see an outsized international teams opportunity given traditional buying habits in some of these markets grand street dental | FIGS
creating community presence executing a retail strategy that enables professionals to connect with figs and their peers celebrated one year anniversary of our first community hub location in century city with results exceeding expectations opened second community hub location in in august with an official grand opening in continue to employ a thoughtful and disciplined test learn apply and win strategy expect to open a few additional locations in while exploring a range of formats and location types to serve the local communities you can | FIGS
fig large industry sector with strong long term growth fundamentals sustainable differentiators numerous growth opportunities strong margin and cash flow dynamics ade workers in the workers aging population focus on health wellness proven merchandising strategy highly concentrated productive core cros | FIGS
den | FIGS
non net revenues mix and yoy growth us international net revenues mix and yoy growth a | FIGS
the decline in gross margin compared to was primarily driven by higher discounted sales and to a lesser extent product mix shift related to limited edition in toa i | FIGS
ope a in the increase in selling expense as a percentage of net revenues primarily reflects higher fulfillment expenses associated with the transition to our new center in higher than anticipated post transition expenses as we ramped the of this facility and higher shipping expenses the increase in marketing expenses as a percentage of net revenues was primarily due to a strategic investment in the biggest top of funnel marketing campaign we have ever done our first of its kind partnership outfitting the team medical team the decrease in a expenses as a percentage of net revenues was primarily related to lower stock based compensation expense partially offset by a write down of assets at our prior distribution center operating | FIGS
a it net income loss margin adjusted margin profitability a on i | FIGS
a a a cash cash equivalents short term investments cash flow changes free cash flow balance sheet and results am | FIGS
full year outlook our third quarter financial performance continued to show positive signs with brand interest and engagement remaining high newness and innovation resonating and frequency improving we also experienced several challenges in the quarter including the impacts of our footwear inventory and pricing our promotional timing and the costs to ramp up our fulfillment center which we are addressing to further strengthen our performance additionally our focus on a strong balance sheet and cash flow provide ongoing flexibility to invest in our core business return value to shareholders and find unique ways to disrupt the industry spear chief executive officer and founder down to flat if i net revenues growth adjusted margin | FIGS
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