FIGS Inc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 27, 2025
FIGS$22.39+3.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Year ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net income | $2,720 | $22,637 | $21,186 |
| Adjustments to reconcile net income to net cash (used in) provided by operating activities: | |||
| Depreciation and amortization expense | 6,694 | 2,942 | 1,924 |
| Deferred income taxes | 6,648 | (7,320) | (732) |
| Non-cash operating lease cost | 8,483 | 2,863 | 2,381 |
| Stock-based compensation | 42,673 | 45,799 | 37,458 |
| Accretion of discount on available-for-sale securities | (5,741) | (1,678) | — |
| Changes in operating assets and liabilities: | |||
| Accrued interest | (758) | — | — |
| Accounts receivable | (1,219) | (603) | (4,425) |
| Inventory | 3,281 | 58,936 | (91,908) |
| Prepaid expenses and other current assets | (2,544) | (572) | (4,483) |
| Other assets | (737) | (79) | (197) |
| Accounts payable | (5,332) | (6,192) | 6,315 |
| Accrued expenses | 33,950 | (18,657) | 1,487 |
| Accrued compensation and benefits | (1,623) | 3,897 | (3,049) |
| Sales tax payable | 556 | (225) | (354) |
| Gift card liability | 1,364 | 358 | 2,292 |
| Deferred revenue | 2,452 | (626) | 2,190 |
| Returns reserve | 884 | (469) | 697 |
| Income tax payable | (2,211) | 2,557 | (3,973) |
| Operating lease liabilities | (8,278) | (2,660) | (2,071) |
| Other non-current liabilities | (100) | 7 | (67) |
| Net cash (used in) provided by operating activities | 81,162 | 100,915 | (35,329) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (17,021) | (16,348) | (5,348) |
| Purchases of available-for-sale securities | (246,949) | (150,139) | — |
| Maturities of available-for-sale securities | 196,580 | 49,300 | — |
| Purchases of held-to-maturity securities | — | — | (500) |
| Purchase of investment in equity securities | (27,534) | — | — |
| Net cash used in investing activities | (94,924) | (117,187) | (5,848) |
| Cash flows from financing activities: | |||
| Proceeds from capital contributions | — | — | 479 |
| Repurchases of Class A Common Stock | (45,454) | — | — |
| Proceeds from stock option exercises and employee stock purchases | 438 | 916 | 3,043 |
| Tax payments related to net share settlements on restricted stock units | — | (246) | — |
| Issuance of Class A Common Stock in exchange for services | 250 | — | — |
| Net cash (used in) provided by financing activities | (44,766) | 670 | 3,522 |
| Net decrease in cash, cash equivalents, and restricted cash | (58,528) | (15,602) | (37,655) |
| Cash, cash equivalents, and restricted cash, beginning of period | $144,173 | $159,775 | $197,430 |
| Cash and cash equivalents end of period | $85,645 | $144,173 | $159,775 |
| Supplemental disclosures: | |||
| Cash paid for income taxes, net of refunds received | $13,138 | $21,100 | $11,903 |
| Property and equipment included in accounts payable and accrued expenses | $536 | $453 | $19 |
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