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
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Statements of Cash Flows
(In thousands)
| Three months endedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income | $1,435 | $1,909 |
| Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ||
| Depreciation and amortization expense | 850 | 659 |
| Deferred income taxes | 251 | (440) |
| Non-cash operating lease cost | 1,761 | 666 |
| Stock-based compensation | 11,611 | 10,790 |
| Accretion of discount on available-for-sale securities | (1,376) | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 2,056 | 3,085 |
| Inventory | (11,426) | (2,397) |
| Prepaid expenses and other current assets | 198 | 2,303 |
| Other assets | (711) | 62 |
| Accounts payable | 6,407 | (12,439) |
| Accrued expenses | 6,214 | (4,894) |
| Accrued compensation and benefits | (2,983) | 231 |
| Sales tax payable | 243 | 332 |
| Gift card liability | (593) | (351) |
| Deferred revenue | (276) | (2,080) |
| Returns reserve | (282) | 44 |
| Income tax payable | 1,256 | 382 |
| Operating lease liabilities | (3,016) | (743) |
| Net cash (used in) provided by operating activities | 11,619 | (2,881) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (496) | (772) |
| Purchases of available-for-sale securities | (41,278) | — |
| Maturities of available-for-sale securities | 41,300 | — |
| Net cash used in investing activities | (474) | (772) |
| Cash flows from financing activities: | ||
| Proceeds from stock option exercises and employee stock purchases | 10 | 1 |
| Tax payments related to net share settlements on restricted stock units | — | (246) |
| Net cash (used in) provided by financing activities | 10 | (245) |
| Net change in cash and cash equivalents | 11,155 | (3,898) |
| Cash and cash equivalents, beginning of period | 144,173 | 159,775 |
| Cash and cash equivalents, end of period | $155,328 | $155,877 |
| Supplemental disclosures: | ||
| Property and equipment included in accounts payable and accrued expenses | $3,997 | $123 |
| Lease assets obtained in exchange for new operating lease liabilities | $15,921 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.