\nFIGS, Inc. (NYSE: FIGS) (the \u201cCompany\u201d), the global leading healthcare apparel brand dedicated to improving the lives of healthcare professionals, today released its second quarter 2025 financial results and published a financial highlights presentation on its investor relations website at ir.wearfigs.com\/financials\/quarterly-results\/<\/a>.<\/p>\n
Second Quarter 2025 Financial Highlights<\/b><\/p>\n Key Operating Metrics<\/b><\/p>\n \n\u201cWe were encouraged to see our momentum continue in Q2, where strong execution drove our largest revenue quarter in our history and powered overall results ahead of expectations,\u201d said Trina Spear, Chief Executive Officer and Co-Founder. \u201cWe delivered product merchandising actions that our community loves and impactful marketing that make our Awesome Humans feel truly seen. Adding to this strategic focus, we also believe we are continuing to move further past the COVID overhang toward a more normalized purchasing and replenishment backdrop. The result is top-line growth that when combined with our profitability, demonstrated the true power of our model in the quarter.\u201d<\/p>\n Full Year 2025 Financial Outlook<\/b><\/p>\n \nNet Revenues growth vs. 2024<\/p>\n<\/td>\n \nup low-single-digits<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAdjusted EBITDA Margin(2)(4)<\/sup><\/p>\n<\/td>\n \n8.5% to 9.0%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nSarah Oughtred, Chief Financial Officer, commented, \u201cOur growing confidence is supported by our heightened focus on reinvigorating our customer funnel and accelerating growth in our core business. Thoughtful action has positioned us to drive strong year-to-date demand, while also supporting decisive strategic actions as we continue to manage the business in this dynamic trade environment. This overall revenue strength and early cost mitigation success give us confidence in raising our full year 2025 top- and bottom-line outlooks.\u201d<\/p>\n (1)<\/sup> \u201cActive customers,\u201d \u201cnet revenues per active customer\u201d and \u201caverage order value\u201d are key operational and business metrics that are important to understanding the Company\u2019s performance. Please see the sections titled \u201cNon-GAAP Financial Measures and Key Operating Metrics\u201d and \u201cKey Operating Metrics\u201d below for information regarding how the Company calculates its key operational and business metrics and for comparisons of active customers, net revenues per active customer and average order value to the prior year period.<\/p>\n<\/td>\n<\/tr>\n (2)<\/sup> \u201cNet income margin\u201d and \u201cadjusted EBITDA margin\u201d are calculated by dividing net income and adjusted EBITDA by net revenues, respectively.<\/p>\n<\/td>\n<\/tr>\n (3)<\/sup> Adjusted EBITDA,\u201d \u201cadjusted EBITDA margin\u201d and \u201cfree cash flow\u201d are non-GAAP financial measures. Please see the sections titled \u201cNon-GAAP Financial Measures and Key Operating Metrics\u201d and \u201cReconciliations of GAAP to Non-GAAP Measures\u201d below for more information regarding the Company\u2019s use of non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures.<\/p>\n<\/td>\n<\/tr>\n (4)<\/sup> The Company has not provided a quantitative reconciliation of its adjusted EBITDA margin outlook to a GAAP net income margin outlook because it is unable, without making unreasonable efforts, to project certain reconciling items. These items include, but are not limited to, future stock-based compensation expense, income taxes, expenses related to non-ordinary course disputes, and transaction costs. These items are inherently variable and uncertain and depend on various factors, some of which are outside of the Company\u2019s control or ability to predict. For more information regarding the Company\u2019s use of non-GAAP financial measures, please see the section titled \u201cNon-GAAP Financial Measures and Key Operating Metrics.\u201d<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Conference Call Details<\/b><\/p>\n \nFIGS management will host a conference call and webcast today at 2:00 p.m. PT \/ 5:00 p.m. ET to discuss the Company\u2019s financial and business results and outlook. To participate, please dial 1-833-470-1428 (US) or 1-404-975-4839 (International) and the conference ID 420966. The call is also accessible via webcast at ir.wearfigs.com<\/a>. A recording will be available shortly after the conclusion of the call until 11:59 p.m. ET on August 14, 2025. To access the replay, please dial 1-866-813-9403 (US) or 1-929-458-6194 (International) and the conference ID 818213. An archive of the webcast will be available on FIGS\u2019 investor relations website at ir.wearfigs.com<\/a>.<\/p>\n Non-GAAP Financial Measures and Key Operating Metrics<\/b><\/p>\n \nIn addition to the GAAP financial measures set forth in this press release, the Company has included non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K. The Company uses \u201cadjusted EBITDA\u201d and \u201cadjusted EBITDA margin\u201d to provide useful supplemental measures that assist in evaluating its ability to generate earnings, provide consistency and comparability with its past financial performance and facilitate period-to-period comparisons of its core operating results as well as the results of its peer companies. The Company uses \u201cfree cash flow\u201d as a useful supplemental measure of liquidity and as an additional basis for assessing its ability to generate cash. The Company calculates \u201cadjusted EBITDA\u201d as net income adjusted to exclude: other income, net; gain\/loss on disposal of assets; provision for income taxes; depreciation and amortization expense; stock-based compensation and related expense; transaction costs; and expenses related to non-ordinary course disputes. The Company calculates \u201cadjusted EBITDA margin\u201d by dividing adjusted EBITDA by net revenues. The Company calculates \u201cfree cash flow\u201d as net cash (used in) provided by operating activities reduced by capital expenditures, including purchases of property and equipment and capitalized software development costs.<\/p>\n \nReconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are included below under the heading \u201cReconciliations of GAAP to Non-GAAP Measures.\u201d<\/p>\n \nThe Company has also included herein \u201cactive customers,\u201d \u201cnet revenues per active customer\u201d and \u201caverage order value,\u201d which are key operational and business metrics that are important to understanding Company performance. The Company believes the number of active customers is an important indicator of growth as it reflects the reach of the Company\u2019s digital platform, brand awareness and overall value proposition. The Company defines an active customer as a unique customer account that has made at least one purchase in the preceding 12-month period. In any particular period, the Company determines the number of active customers by counting the total number of customers who have made at least one purchase in the preceding 12-month period, measured from the last date of such period. The Company believes measuring net revenues per active customer is important to understanding engagement and retention of customers, and as such, the value proposition for its customer base. The Company defines net revenues per active customer as the sum of total net revenues in the preceding 12-month period divided by the current period active customers. The Company defines average order value as the sum of the total net revenues in a given period divided by the total orders placed in that period. Total orders are the summation of all completed individual purchase transactions in a given period. The Company believes its relatively high average order value demonstrates the premium nature of its products. As the Company expands into and increases its presence in additional product categories, price points and international markets, average order value may fluctuate.<\/p>\n \nActive customers as of June 30, 2025 and 2024, respectively, net revenues per active customer as of June 30, 2025 and 2024, respectively, and average order value for the three and six months ended June 30, 2025 and 2024, respectively, are presented below under the heading \u201cKey Operating Metrics.\u201d<\/p>\n About FIGS<\/b><\/p>\n \nFIGS is a founder-led, direct-to-consumer healthcare apparel and lifestyle brand that seeks to celebrate, empower, and serve current and future generations of healthcare professionals. We create technically advanced apparel and products that feature an unmatched combination of comfort, durability, function, and style. We share stories about healthcare professionals\u2019 experiences in ways that inspire them. We build meaningful connections within the healthcare community that we created. Above all, we seek to make an impact for our community, including by advocating for them and always having their backs.<\/p>\n \nWe serve healthcare professionals in numerous countries in North America, Europe, the Asia Pacific region and the Middle East. We also serve healthcare institutions through our TEAMS platform.<\/p>\n Forward Looking Statements<\/b><\/p>\n \nThis press release contains various forward-looking statements about the Company within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are based on current management expectations, and which involve substantial risks and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, such forward-looking statements. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking. These forward-looking statements generally are identified by the words \u201canticipate\u201d, \u201cbelieve\u201d, \u201ccontemplate\u201d, \u201ccontinue\u201d, \u201ccould\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201cforecast\u201d, \u201cfuture\u201d, \u201cintend\u201d, \u201cmay\u201d, \u201cmight\u201d, \u201copportunity\u201d, \u201coutlook\u201d, \u201cplan\u201d, \u201cpossible\u201d, \u201cpotential\u201d, \u201cpredict\u201d, \u201cproject,\u201d \u201cshould\u201d, \u201cstrategy\u201d, \u201cstrive\u201d, \u201ctarget\u201d, \u201cwill\u201d or \u201cwould\u201d, the negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. These forward-looking statements address various matters, including the Company\u2019s belief that it is moving further past the COVID overhang towards a more normalized purchasing and replenishment backdrop; the Company\u2019s growing confidence, supported by heightened focus on reinvigorating its customer funnel and accelerating growth in its core business; the Company\u2019s approach to the dynamic trade environment; and the information under the section titled \u201cFull Year 2025 Financial Outlook,\u201d such as the Company\u2019s outlook as to net revenues growth and adjusted EBITDA margin for the full year ending December 31, 2025; all of which reflect the Company\u2019s expectations based upon currently available information and data. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, the Company\u2019s actual results, performance or achievements may differ materially from those expressed or implied by the forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements. The following important factors and uncertainties, among others, could cause actual results, performance or achievements to differ materially from those described in these forward-looking statements: the Company\u2019s ability to maintain its historical growth; the Company\u2019s ability to maintain profitability; the Company\u2019s ability to maintain the value and reputation of its brand; the Company\u2019s ability to attract new customers, retain existing customers, and to maintain or increase sales to those customers; the success of the Company\u2019s marketing efforts; the Company\u2019s ability to maintain a strong community of engaged customers and Ambassadors; negative publicity related to the Company\u2019s marketing efforts or use of social media; the Company\u2019s ability to successfully develop and introduce new, innovative and updated products; the competitiveness of the market for healthcare apparel; the Company\u2019s ability to maintain its key employees; the Company\u2019s ability to attract and retain highly skilled team members; risks associated with expansion into, and conducting business in, international markets; changes in, or disruptions to, the Company\u2019s shipping arrangements; the successful operation of the Company\u2019s fulfillment operations; the Company\u2019s ability to accurately forecast customer demand, manage its inventory, and plan for future expenses; the impact of changes in consumer confidence, shopping behavior and consumer spending on demand for the Company\u2019s products; the impact of macroeconomic trends on the Company\u2019s operations; the Company\u2019s reliance on a limited number of third-party suppliers; the impact of global trade policy on the Company\u2019s ability to source and distribute its products; the fluctuating costs of raw materials; the Company\u2019s ability to execute on its B2B growth strategy; Company\u2019s ability to execute on its retail growth strategy; the Company\u2019s failure to protect proprietary, confidential or sensitive information or personal customer data, or risks of cyberattacks; the Company\u2019s failure to protect its intellectual property rights; the fact that the operations of many of the Company\u2019s suppliers and vendors are subject to additional risks that are beyond its control; and other risks, uncertainties and factors discussed in the \u201cRisk Factors\u201d section of the Company\u2019s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 to be filed with the Securities and Exchange Commission (\u201cSEC\u201d), the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 27, 2025, and the Company\u2019s other periodic filings with the SEC. The forward-looking statements in this press release speak only as of the time made and the Company does not undertake to update or revise them to reflect future events or circumstances.<\/p>\n FIGS, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n CONSOLIDATED BALANCE SHEETS<\/b><\/p>\n (In thousands, except share and per share data)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n As of<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n June 30, \n\u00a0<\/p>\n<\/td>\n December 31, Assets<\/b><\/p>\n<\/td>\n (Unaudited)<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Current assets<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCash and cash equivalents<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n50,849<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n85,645<\/p>\n<\/td>\n<\/tr>\n \nShort-term investments<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n187,991<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n159,469<\/p>\n<\/td>\n<\/tr>\n \nAccounts receivable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,125<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,625<\/p>\n<\/td>\n<\/tr>\n \nInventory, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n135,528<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n115,759<\/p>\n<\/td>\n<\/tr>\n \nPrepaid expenses and other current assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,119<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13,268<\/p>\n<\/td>\n<\/tr>\n Total current assets<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n393,612<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n382,766<\/p>\n<\/td>\n<\/tr>\n Non-current assets<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nProperty and equipment, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n33,109<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n35,274<\/p>\n<\/td>\n<\/tr>\n \nOperating lease right-of-use assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n49,297<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n50,497<\/p>\n<\/td>\n<\/tr>\n \nDeferred tax assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,541<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,643<\/p>\n<\/td>\n<\/tr>\n \nInvestment in equity securities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27,735<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27,534<\/p>\n<\/td>\n<\/tr>\n \nOther assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,830<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,073<\/p>\n<\/td>\n<\/tr>\n Total non-current assets<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n123,512<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n127,021<\/p>\n<\/td>\n<\/tr>\n Total assets<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 517,124<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 509,787<\/b><\/p>\n<\/td>\n<\/tr>\n Liabilities and stockholders\u2019 equity<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Current liabilities<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccounts payable<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n19,023<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9,401<\/p>\n<\/td>\n<\/tr>\n \nOperating lease liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,548<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,596<\/p>\n<\/td>\n<\/tr>\n \nAccrued expenses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,236<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n42,316<\/p>\n<\/td>\n<\/tr>\n \nAccrued compensation and benefits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,379<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,689<\/p>\n<\/td>\n<\/tr>\n \nSales tax payable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,502<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,705<\/p>\n<\/td>\n<\/tr>\n \nGift card liability<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,023<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,604<\/p>\n<\/td>\n<\/tr>\n \nDeferred revenue<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,996<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,612<\/p>\n<\/td>\n<\/tr>\n \nReturns reserve<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,002<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,873<\/p>\n<\/td>\n<\/tr>\n \nIncome tax payable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n654<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n346<\/p>\n<\/td>\n<\/tr>\n Total current liabilities<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n78,363<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n90,142<\/p>\n<\/td>\n<\/tr>\n Non-current liabilities<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOperating lease liabilities, non-current<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n42,147<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n42,430<\/p>\n<\/td>\n<\/tr>\n \nOther non-current liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n83<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n83<\/p>\n<\/td>\n<\/tr>\n Total liabilities<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 120,593<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 132,655<\/b><\/p>\n<\/td>\n<\/tr>\n \nCommitments and contingencies<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Stockholders\u2019 equity<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nClass A common stock \u2014 par value $0.0001 per share, 1,000,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 154,836,829 and 154,003,352 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15<\/p>\n<\/td>\n<\/tr>\n \nClass B common stock \u2014 par value $0.0001 per share, 150,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 8,283,641 shares issued and outstanding as of June 30, 2025 and December 31, 2024<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n<\/tr>\n \nPreferred stock \u2014 par value $0.0001 per share, 100,000,000 shares authorized as of June 30, 2025 and December 31, 2024; zero shares issued and outstanding as of June 30, 2025 and December 31, 2024<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n<\/tr>\n \nAdditional paid-in capital<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n324,975<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n312,622<\/p>\n<\/td>\n<\/tr>\n \nAccumulated other comprehensive income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n70<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21<\/p>\n<\/td>\n<\/tr>\n \nRetained earnings<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n71,471<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n64,474<\/p>\n<\/td>\n<\/tr>\n Total stockholders\u2019 equity<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 396,531<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 377,132<\/b><\/p>\n<\/td>\n<\/tr>\n Total liabilities and stockholders\u2019 equity<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 517,124<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 509,787<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n FIGS, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/p>\n (In thousands, except share and per share data)<\/b><\/p>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Three months ended \n\u00a0<\/p>\n<\/td>\n Six months ended \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet revenues<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n152,640<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n144,225<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n277,541<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n263,518<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCost of goods sold<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n50,394<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n46,961<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n90,836<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n84,118<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Gross profit<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 102,246<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 97,264<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 186,705<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 179,400<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOperating expenses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSelling<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34,433<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n36,934<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n67,111<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n65,393<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nMarketing<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23,151<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23,003<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n41,307<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n40,248<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGeneral and administrative<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34,747<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n35,774<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n68,583<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n71,763<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Total operating expenses<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 92,331<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 95,711<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 177,001<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 177,404<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet income from operations<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,915<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,553<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,704<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,996<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther income, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInterest income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,119<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,830<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,195<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,677<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(10<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Total other income, net<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2,116<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2,830<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 4,191<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 5,667<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet income before provision for income taxes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12,031<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,383<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13,895<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,663<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nProvision for income taxes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,932<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,283<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,898<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,128<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net income<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 7,099<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 1,100<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 6,997<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 2,535<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nEarnings attributable to Class A and Class B common stockholders<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Basic earnings per share<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.04<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.01<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.04<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.01<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Diluted earnings per share<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.04<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.01<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.04<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.01<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Weighted-average shares outstanding\u2014basic<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 162,683,329<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 170,393,480<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 162,575,259<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 170,158,479<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Weighted-average shares outstanding\u2014diluted<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 172,929,960<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 179,688,524<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 173,517,269<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 180,195,183<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n FIGS, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b><\/p>\n (In thousands)<\/b><\/p>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Six months ended \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Cash flows from operating activities:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet income<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n6,997<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,535<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Adjustments to reconcile net income to net cash (used in) provided by operating activities:<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,152<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,963<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDeferred income taxes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n102<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,991<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNon-cash operating lease cost<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,805<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,977<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nStock-based compensation<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14,856<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,108<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccretion of discount and accrued interest on available-for-sale securities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,089<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,954<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Changes in operating assets and liabilities:<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccounts receivable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(386<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5,250<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nInventory<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(19,769<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(254<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nPrepaid expenses and other current assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,149<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5,973<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nOther assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n243<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(878<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nAccounts payable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,536<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,679<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccrued expenses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(19,582<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,310<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccrued compensation and benefits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,690<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,208<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nSales tax payable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(203<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n68<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGift card liability<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n419<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(206<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nDeferred revenue<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,616<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n665<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nReturns reserve<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(871<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n525<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome tax payable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n308<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(917<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nOperating lease liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4,936<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,023<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Net cash (used in) provided by operating activities<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,195<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28,158<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Cash flows from investing activities:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPurchases of property and equipment<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,399<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(9,489<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nPurchases of available-for-sale securities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(136,598<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(137,850<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nMaturities of available-for-sale securities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n110,100<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n106,555<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther investing activities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(201<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net cash used in investing activities<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(29,098<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(40,784<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Cash flows from financing activities:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nRepurchases of Class A Common Stock<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,688<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nProceeds from stock option exercises and employee stock purchases<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n185<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n264<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net cash (used in) provided by financing activities<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,503<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n264<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net change in cash and cash equivalents<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(34,796<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(12,362<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nCash and cash equivalents beginning of period<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n85,645<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n144,173<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCash and cash equivalents end of period<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n50,849<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n131,811<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n FIGS, INC.<\/b><\/p>\n RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES \nThe following table presents a reconciliation of adjusted EBITDA to net income, which is the most directly comparable financial measure calculated in accordance with GAAP, and presents adjusted EBITDA margin with net income margin, which is the most directly comparable financial measure calculated in accordance with GAAP:<\/p>\n \n\u00a0<\/p>\n<\/td>\n Three months ended \n\u00a0<\/p>\n<\/td>\n Six months ended \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n (in thousands, except margin)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n \nNet income<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n7,099<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,100<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n6,997<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,535<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAdd (deduct):<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther income, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,116<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,830<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4,191<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5,667<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nProvision for income taxes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,932<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,283<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,898<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,128<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization expense(1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,153<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,113<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,152<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,963<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nStock-based compensation and related expense(2)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,659<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,266<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15,046<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21,963<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAdjusted EBITDA(3)<\/sup><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n19,727<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n12,932<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n28,902<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n25,922<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet revenues<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n152,640<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n144,225<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n277,541<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n263,518<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet income margin(4)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4.7<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.5<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nAdjusted EBITDA Margin<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12.9<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10.4<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n (1)<\/sup> Excludes amortization of debt issuance costs included in \u201cOther income, net.\u201d<\/p>\n<\/td>\n<\/tr>\n (2)<\/sup> Includes stock-based compensation expense, payroll taxes, and costs related to equity award activity.<\/p>\n<\/td>\n<\/tr>\n (3)<\/sup> For the six months ended June 30, 2025, reflects $171,000 of stock-based compensation expense and payroll taxes inadvertently not reflected in our previously disclosed Adjusted EBITDA results for the three months ended March 31, 2025.<\/p>\n<\/td>\n<\/tr>\n (4)<\/sup> Net income margin represents net income as a percentage of net revenues.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nThe following table presents a reconciliation of free cash flow to net cash provided by operating activities, which is the most directly comparable financial measure calculated in accordance with GAAP:<\/p>\n \n\u00a0<\/p>\n<\/td>\n Six months ended \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n (in thousands)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n \nNet cash (used in) provided by operating activities<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(3,195<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n28,158<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLess: capital expenditures<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,399<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(9,489<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nFree cash flow<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(5,594<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n18,669<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n FIGS, INC.<\/b><\/p>\n KEY OPERATING METRICS \nActive customers as of June 30, 2025 and 2024, respectively, net revenues per active customer as of June 30, 2025 and 2024, respectively, and average order value for the three and six months ended June 30, 2025 and 2024, respectively, are presented in the following tables:<\/p>\n \n\u00a0<\/p>\n<\/td>\n As of June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n (in thousands)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n \nActive customers<\/p>\n<\/td>\n \n2,736<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,628<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n<\/td>\n As of June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \nNet revenues per active customer<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n208<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n210<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n<\/td>\n Three months ended \n\u00a0<\/p>\n<\/td>\n Six months ended \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \nAverage order value<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n117<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n113<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n118<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n115<\/p>\n<\/td>\n<\/tr>\n<\/table>\n FIGS, INC.<\/b><\/p>\n DISAGGREGATED NET REVENUES \nThe following table presents the disaggregation of the Company\u2019s net revenues for the three and six months ended June 30, 2025 and June 30, 2024:<\/p>\n \n\u00a0<\/p>\n<\/td>\n Three months ended \n\u00a0<\/p>\n<\/td>\n Change<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Six months ended \n\u00a0<\/p>\n<\/td>\n Change<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n<\/tr>\n \nBy geography:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nUnited States<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n129,948<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n125,291<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3.7<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n235,967<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n228,361<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nRest of the world<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,692<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n18,934<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n41,574<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n35,157<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n152,640<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n144,225<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n277,541<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n263,518<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nBy product:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nScrubwear<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n127,415<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n118,345<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7.7<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n226,984<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n213,241<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6.4<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nNon-Scrubwear<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,225<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n25,880<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2.5<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n50,557<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n50,277<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.6<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n152,640<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n144,225<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n277,541<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n263,518<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250807762808\/en\/<\/a><\/span><\/p>\n \nInvestors:\n
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\n \n \n \n \n \n \n \n \n \n
\n \n \n <\/tr>\n \n \u00a0<\/td>\n<\/tr>\n \n \n \n <\/tr>\n \n \u00a0<\/td>\n<\/tr>\n \n \n \n <\/tr>\n \n \u00a0<\/td>\n<\/tr>\n \n \n \n
\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n
\n<\/b>
2025<\/b><\/p>\n<\/td>\n\n \n
\n<\/b>
2024<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n
\n<\/b>
June 30,<\/b><\/p>\n<\/td>\n\n \n
\n<\/b>
June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n
\n<\/b>
June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n
<\/b>(Unaudited)<\/b><\/p>\n\n
\n \n \n
\n<\/b>
June 30,<\/b><\/p>\n<\/td>\n\n \n
\n<\/b>
June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n <\/tr>\n \n \u00a0<\/td>\n<\/tr>\n \n \n \n <\/tr>\n \n \u00a0<\/td>\n<\/tr>\n \n \n \n <\/tr>\n \n \u00a0<\/td>\n<\/tr>\n \n \n \n
\n \n \n
\n<\/b>
June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n
<\/b>(Unaudited)<\/b><\/p>\n\n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n
\n<\/b>
June 30,<\/b><\/p>\n<\/td>\n\n \n
\n<\/b>
June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n
<\/b>(In thousands, except percentages)
\n
<\/b>(Unaudited)<\/b><\/p>\n\n
\n \n \n
\n<\/b>
June 30,<\/b><\/p>\n<\/td>\n\n \n \n \n
\n<\/b>
June 30,<\/b><\/p>\n<\/td>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/p>\n
\n
Tom Shaw
\n
IR@wearfigs.com
\n<\/a><\/p>\n