FIGS Reports Q2 2024 Financial Results

authorIntellectia.AI1970-01-01
5
FIGS.N
Illustration by Intellectia.AI

FIGS Reports Q2 2024 Financial Results

FIGS Inc. has released its financial results for the second quarter ending June 30, 2024.

Key Financial Metrics

Metric Q2 2024 Q2 2023 YoY Change Consensus Estimate
Revenue $144.2M $138.1M +4.4% $142.26M
Earnings Per Share (EPS) N/A $0.00 N/A $0.00

Interpretation: FIGS reported a revenue increase of 4.4% year-over-year (YoY) for Q2 2024, surpassing Wall Street's consensus estimate of $142.26 million. This growth was driven primarily by an increase in orders from existing customers. However, detailed data on EPS was not available for this quarter.

Dividends and Share Repurchase Program

Share Repurchase Program: On August 8, 2024, FIGS' Board of Directors authorized a share repurchase program for up to $50 million of the company’s outstanding Class A common stock, with no set expiration date.

Stock Price Movement

Post-Earnings Change: The stock price increased by approximately 3.44% following the earnings release.

Summary

FIGS delivered a strong performance in Q2 2024, with revenue growth outpacing expectations. The company has also announced a significant share repurchase program, signaling confidence in its financial health. However, no guidance or officer comments were provided for the upcoming quarters.

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