FIGS Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
FIGS$19.82-1.9%Stored close · as of Nov 6, 2026
Contents
Condensed Balance Sheets
(In thousands, except share and per share data)
| As of | ||
|---|---|---|
| March 31,2024 | December 31,2023 | |
| Assets · (Unaudited) | ||
| Current assets | ||
| Cash and cash equivalents | $155,328 | $144,173 |
| Short-term investments | 103,845 | 102,522 |
| Accounts receivable | 5,413 | 7,469 |
| Inventory, net | 130,466 | 119,040 |
| Prepaid expenses and other current assets | 10,526 | 12,455 |
| Total current assets | 405,578 | 385,659 |
| Non-current assets | ||
| Property and equipment, net | 28,054 | 24,864 |
| Operating lease right-of-use assets | 57,219 | 43,059 |
| Deferred tax assets | 18,040 | 18,291 |
| Other assets | 2,047 | 1,336 |
| Total non-current assets | 105,360 | 87,550 |
| Total assets | $510,938 | $473,209 |
| Liabilities and stockholders’ equity | ||
| Current liabilities | ||
| Accounts payable | $22,216 | $14,749 |
| Operating lease liabilities | 9,233 | 8,230 |
| Accrued expenses | 16,604 | 7,906 |
| Accrued compensation and benefits | 4,329 | 7,312 |
| Sales tax payable | 3,392 | 3,149 |
| Gift card liability | 7,647 | 8,240 |
| Deferred revenue | 1,884 | 2,160 |
| Returns reserve | 2,707 | 2,989 |
| Income tax payable | 3,813 | 2,557 |
| Total current liabilities | 71,825 | 57,292 |
| Non-current liabilities | ||
| Operating lease liabilities, non-current | 49,055 | 38,884 |
| Other non-current liabilities | 183 | 183 |
| Total liabilities | $121,063 | $96,359 |
| Commitments and contingencies (Note 9) | ||
| Stockholders’ equity | ||
| Class A Common stock — par value $0.0001 per share, 1,000,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 161,801,871 and 161,457,403 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively | 16 | 16 |
| Class B Common stock — par value $0.0001 per share, 150,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 8,283,641 shares issued and outstanding as of March 31, 2024 and December 31, 2023 | — | — |
| Preferred stock — par value $0.0001 per share, 100,000,000 shares authorized as of March 31, 2024 and December 31, 2023; zero shares issued and outstanding as of March 31, 2024 and December 31, 2023 | — | — |
| Additional paid-in capital | 326,696 | 315,075 |
| Accumulated other comprehensive income (loss) | (26) | 5 |
| Retained earnings | 63,189 | 61,754 |
| Total stockholders’ equity | 389,875 | 376,850 |
| Total liabilities and stockholders’ equity | $510,938 | $473,209 |
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