By Karen Roman
Healthcare apparel brand FIGS, Inc. (NYSE: FIGS) said it expects flat net revenue growth and an adjusted EBITDA margin around 8% for fiscal year 2024.
Net revenue was $140.2 million in the third quarter, down 1.5%, while gross margin was 67.1% due to higher discounted sales, it said.
The company also announced a $25 million minority investment in OOG, Inc., a new online platform for healthcare professionals.
“The third quarter included several key investments to support and scale FIGS, highlighted by our incredible Olympics campaign with the Team USA Medical Team and the completed transition of our fulfillment center to a state-of-the-art, highly-automated facility,” said Trina Spear, FIGS’ CEO and co-founder.
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