FIGS Shares Dip Below 52-Week Low

Shares of FIGS, an apparel and lifestyle brand catering to the healthcare community, took a dive after hours on Wednesday, falling below the previous 52-week low mark.

The stock plummeted 15% to $5.11 post-bell. It had hit a 52-week low of $5.15 per share on November 1, 2024.

Financial Performance and Outlook

Fourth-quarter earnings per share for the company stood at 5 cents, with revenue totaling $144.9 million. In the same period last year, EPS was reported at 2 cents while revenue was $144.8 million.

FIGS anticipates a mid single-digit decline to flat net revenue growth in 2024 compared to 2023.

CFO Transition and Successor Search

On the same day, FIGS announced that its Chief Financial Officer, Daniella Turenshine, is stepping down to pursue a similar role at another firm. Turenshine will continue in her position until April 12 and will act as an advisor during the transition period.

The company revealed that Kevin Fosty, VP and corporate controller of the organization, will take on the interim CFO role while a replacement for Turenshine is sought out.