Q2 adjusted EBITDA margin expanded to 18.6%, beating analyst expectations
Company increased share repurchase authorization by $100 mln
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$196.60 mln
$185.85 mln (8 Analysts)
Q2 Net Income
$28.40 mln
Q2 Adjusted EBITDA
Beat
$36.60 mln
$25.16 mln (8 Analysts)
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the apparel & accessories peer group is "buy"
Wall Street's median 12-month price target for FIGS, Inc. is $17.00, about 55.7% above its August 5 closing price of $10.92
The stock recently traded at 37 times the next 12-month earnings vs. a P/E of 56 three months ago
Result Drivers
Order growth and higher AOV - Co said revenue growth was primarily driven by an increase in orders and higher average order value, attributed to higher average unit retail from pricing and favorable product mix
Broad-based category and geography growth - Co said growth was broad-based across categories, with non-scrubwear revenue up 40.3% and international revenue up 67% yr/yr
Gross margin boost from tariff refunds and pricing - Co said gross margin rose mainly due to IEEPA tariff refunds, favorable pricing, and efficiency efforts, partly offset by higher tariffs
FIGS•
