Filing Flows › Figs (FIGS) › Q1 2025
Figs (FIGS) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Figs (FIGS) reported revenue of $125M for the first quarter 2025 (Q1 2025), +5% from a year earlier and -18% from the quarter before. Operating margin was -0.2%, net loss $102K (0.1% of revenue).
Figs, Q1 2025: revenue $125M (+5% year over year), operating margin -0.2%, net loss $102K, operating cash flow $9.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $125M | -18% | +5% |
| Operating profit | −$211K | — | — |
| Net earnings | −$102K | — | — |
| Operating cash flow | $9.2M | -70% | -21% |
| Free cash flow | $7.9M | — | -29% |
What changed
Revenue was $124.9M in Q1 2025, up 5% year over year and down 18% from the previous quarter. Scrubwear was the largest line at 80% of revenue. Scrubwear added $4.7M year over year (up 5%), 83% of the total change.
Gross margin was 67.6%, down 1.2 points from a year earlier. Operating costs exceeded revenue by $211K, an operating margin of -0.2%. Operating expenses grew 4% against revenue growth of 5%. The fastest-growing cost line was Sales & marketing (+15%). The quarter ended with a net loss of $102K, after a profit of $1.9M the previous quarter. Non-operating items added $2.1M, 111% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $9.2M (down 21% year over year). Non-cash charges added back $2.0M of depreciation and $7.2M of share-based compensation. After capital expenditures ($1.3M), free cash flow as the company reports it was $7.9M.
Questions
What was Figs' revenue in the first quarter 2025?
Figs (FIGS) reported revenue of $125M for the first quarter 2025 (Q1 2025), +5% from a year earlier and -18% from the quarter before.
Was Figs profitable in the first quarter 2025?
Operating loss was $211K (-0.2% of revenue) and net loss $102K.
Source: Figs 10-Q on SEC EDGAR.