FIGS, Inc.
For the period ended Mar 31, 2025. Filed May 8, 2025.
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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, 2025 · Filed May 8, 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 1. Condensed Consolidated Balance Sheets
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share data)
| As of | ||
|---|---|---|
| March 31,2025 | December 31,2024 | |
| Assets · (Unaudited) | ||
| Current assets | ||
| Cash and cash equivalents | $90,008 | $85,645 |
| Short-term investments | 161,203 | 159,469 |
| Accounts receivable | 6,554 | 8,625 |
| Inventory, net | 131,577 | 115,759 |
| Prepaid expenses and other current assets | 10,369 | 13,268 |
| Total current assets | 399,711 | 382,766 |
| Non-current assets | ||
| Property and equipment, net | 34,119 | 35,274 |
| Operating lease right-of-use assets | 48,194 | 50,497 |
| Deferred tax assets | 10,648 | 11,643 |
| Investment in equity securities | 27,735 | 27,534 |
| Other assets | 1,907 | 2,073 |
| Total non-current assets | 122,603 | 127,021 |
| Total assets | $522,314 | $509,787 |
| Liabilities and stockholders’ equity | ||
| Current liabilities | ||
| Accounts payable | $10,736 | $9,401 |
| Operating lease liabilities | 11,599 | 10,596 |
| Accrued expenses | 54,224 | 42,316 |
| Accrued compensation and benefits | 5,071 | 5,689 |
| Sales tax payable | 3,756 | 3,705 |
| Gift card liability | 9,305 | 9,604 |
| Deferred revenue | 1,959 | 4,612 |
| Returns reserve | 3,701 | 3,873 |
| Income tax payable | 618 | 346 |
| Total current liabilities | 100,969 | 90,142 |
| Non-current liabilities | ||
| Operating lease liabilities, non-current | 39,726 | 42,430 |
| Other non-current liabilities | 83 | 83 |
| Total liabilities | 140,778 | 132,655 |
| Commitments and contingencies (Note 10) | ||
| Stockholders’ equity | ||
| Class A common stock — par value $0.0001 per share, 1,000,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 154,070,851 and 154,003,352 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively | 15 | 15 |
| Class B common stock — par value $0.0001 per share, 150,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 8,283,641 shares issued and outstanding as of March 31, 2025 and December 31, 2024 | — | — |
| Preferred stock — par value $0.0001 per share, 100,000,000 shares authorized as of March 31, 2025 and December 31, 2024; zero shares issued and outstanding as of March 31, 2025 and December 31, 2024 | — | — |
| Additional paid-in capital | 317,173 | 312,622 |
| Accumulated other comprehensive income (loss) | (24) | 21 |
| Retained earnings | 64,372 | 64,474 |
| Total stockholders’ equity | 381,536 | 377,132 |
| Total liabilities and stockholders’ equity | $522,314 | $509,787 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.