By Daniella Parra
Healthcare apparel brand FIGS, Inc. (NYSE: FIGS) said net revenue was $124.9 million, an increase of 4.7% year over year and active customers increased 3.8% year over year to 2.7 million in Q1.
Adjusted EBITDA was $9.0 million, a decrease of $4.0 million YOY and gross margin was 67.6%, a decrease of 130 basis points, Figs said.
“First quarter results were ahead of expectations, supported by customer growth, strong full-priced selling, record AOV, and ultimately, a return to growth in the U.S.,” said Trina Spear, Chief Executive Officer and Co-Founder. “These positive signs bolster our conviction that the industry is on the path to normalization and our actions are resonating.”
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