FIGS, Inc. (FIGS) SEC Filings & Earnings Calls

Supply Chain Disruption (WRO)

“Overall, we expect the WRO will adversely impact our net revenues, gross margin and inventory levels in the second half of 2026.” · word for word

Tariff Uncertainty

“Tariffs have increased our product costs, negatively impacting gross margin for the three months ended June 30, 2026.” · word for word

Legal Contingency (Securities Class Action Appeal)

“Plaintiffs filed an appeal from that dismissal and oral argument in the appeal took place on July 7, 2026. The appeal is now under submission.” · word for word

Tariff and product mix headwinds partially offset margin gains

“higher tariffs and product mix shift” · word for word

Tariff Impact on Gross Margin

“The tariffs in place from April 2025 through the February 2026 Supreme Court decision under IEEPA increased our product costs, negatively impacting gross margin for the three months ended March 31, 2026.” · word for word

Tariff Refund Uncertainty

“We have applied for a refund of approximately $20 million of IEEPA tariffs paid by us, however the ultimate extent and timing of such refunds remains uncertain.” · word for word

Negative Operating Cash Flow

“Cash flows from operating activities decreased from $9.2 million to $(3.2) million in the three months ended March 31, 2026” · word for word

Controlled company governance risk

“Heather Hasson and Catherine Spear... control more than 50% of the voting power for the election of directors, and, as a result, we are considered a 'controlled company' for the purposes of the NYSE listing requirements.”

Related party transaction risk

“License Agreement with OOG, Inc. ... Heather Hasson... is founder and chief executive officer of OOG and Catherine Spear... is a member of OOG’s board of directors.”

Stock option repricing dilution risk

“The independent directors of our Board approved a repricing on a one-for-one basis of certain fully vested, outstanding and underwater options... the vesting schedules of the Repriced Options were extended.” · word for word

Tariff and Trade Policy Risk

“While the U.S. tariffs on China only affect a small portion of our imports and we currently do not anticipate material impacts from China’s retaliatory tariffs, trade regulations are continuously evolving and we cannot predict additional near-term changes in global trade policy.” · word for word

Labor Cost Inflation

“Increases in labor costs, including wages, could adversely affect our business, financial condition and results of operations.” · word for word

Supply Chain Disruption from Xinjiang Restrictions

“the presumptive ban on virtually all imports from that region has from time to time affected and could in the future affect the global sourcing and availability of raw materials, such as cotton and rayon, used in the manufacturing of certain of our products and/or lead to our products being held for inspection by CBP and delayed, which has occurred from time” · word for word

Fulfillment Concentration Risk

“We rely on our sole fulfillment center in Goodyear, Arizona, which is leased by us and operated by a third-party logistics provider, for all of our product distribution.” · word for word

Tariff headwinds impacting gross margin; 15% global tariffs expected in 2026.

“Gross margin decreased 440 bps due to higher tariffs; FY2026 guidance assumes 15% global tariffs.”

Relocation execution risk; potential disruption.

“Relocation expected by April 15, 2026; subject to landlord delivery.”

Tariff escalation risk

“Without taking into account mitigation efforts, we estimate, based on the information available to us today, that the current tariff regime will negatively impact gross margin for 2025 by approximately 110 basis points, and gross margin for 2026 by approximately 440 basis points.” · word for word

Supply chain concentration

“During the nine months ended September 30, 2025, the production of our finished goods was divided approximately evenly between suppliers in Vietnam and Jordan.” · word for word

Fulfillment center single point of failure

“We rely on our sole fulfillment center in Goodyear, Arizona, which is leased by us and operated by a third-party logistics provider, for all of our product distribution.” · word for word

Tariff headwinds partially offset by lower duty rates and freight expenses.

“Gross margin improvement partially offset by higher tariffs.”