Figs reports Q4 EPS 5c, consensus 2c

Reports Q4 revenue $144.918M, consensus $149.58M. “Looking back on 2023, we delivered strong growth and profitability, reduced inventory levels by 33% and generated cash flow from operations of $100 million, while advancing a number of our growth strategies,” said Trina Spear, Chief Executive Officer and Co-Founder. “Looking ahead to 2024, we expect demand to be impacted by macroeconomic factors, and we also recognize the healthcare workforce related stress that is affecting our community. We are taking swift action to rebuild momentum and reignite the word of mouth flywheel that has driven our success as a digital brand. We are confident that our strategic initiatives, supported by our robust balance sheet will unlock the long term potential of FIGS.”