FIGS, Inc.

General Information
Business:

(Note: FIGS has requested that up to 1 percent of the stock in its IPO will be offered “to retail investors through Robinhood Financial, LLC, as a selling group member, via its online brokerage platform. This is the first initial public offering to be included on the Robinhood platform and there may be risks associated with the use of the Robinhood platform that we cannot foresee, including risks related to the technology and operation of the platform, and the publicity and the use of social media by users of the platform that we cannot control.” the prospectus says.

Our mission is to celebrate, empower and serve those who serve others.

We are a founder-led direct-to-consumer healthcare apparel and lifestyle brand that seeks to celebrate, empower and serve current and future generations of healthcare professionals. We are committed to helping this growing, global community of professionals, whom we refer to as Awesome Humans, look, feel and perform at their best—24/7, 365 days a year. We create technically advanced apparel and products that feature an unmatched combination of comfort, durability, function and style, all at an affordable price. In doing so, we have redefined what scrubs are—giving rise to our tag-line: why wear scrubs, when you can #wearFIGS?

We have revolutionized the large and fragmented healthcare apparel market. We branded a previously unbranded industry and de-commoditized a previously commoditized product—elevating scrubs and creating premium products for healthcare professionals. Most importantly, we built a community and lifestyle around a profession. As a result, we have become the industry’s category-defining healthcare apparel and lifestyle brand.

We market and sell 98% of our products through our digital platform, consisting of our website and mobile app, to a rapidly growing community of loyal customers. From 2017 to 2020, we grew net revenues from $17.6 million to $263.1 million, representing a compound annual growth rate, or CAGR, of 146%. In addition, in 2020, we delivered operating income and Adjusted EBITDA of $57.9 million and $69.1 million, respectively.

We developed cutting-edge fabric technology and product designs to specifically address their needs. Our proprietary fabric technology, called FIONx, offers four-way stretch, anti-odor, anti-wrinkle and moisture-wicking properties. Our scrubs feature easy-to-access zippered pockets for professional and personal items such as stethoscopes, scissors, smartphones and ID badges. Our lifestyle apparel and other non-scrub offerings allow medical professionals to be outfitted—on and off shift. By enabling all healthcare professionals to have access to these products, we make the healthcare community more inclusive and aim to elevate the entire healthcare ecosystem.

Industry: Apparel - Online DTC Retail for Healthcare Workers
Employees: 202
Founded: 2013
Contact Information
Address 2834 Colorado Avenue, Suite 100 Santa Monica, California 90404
Phone Number (424) 300-8330
Web Address http://www.wearfigs.com/
View Prospectus: FIGS, Inc.
Financial Information
Market Cap $2824.33mil
Revenues $263.11 mil (last 12 months)
Net Income $49.76 mil (last 12 months)
IPO Profile
Symbol FIGS
Exchange NYSE
Shares (millions): 26.4
Price range $22.00 - $22.00
Est. $ Volume $580.6 mil
Manager / Joint Managers Goldman Sachs/ Morgan Stanley/ Barclays/ Credit Suisse/ BofA Securities
CO-Managers Cowen/ Guggenheim Securities/ KeyBanc Capital Markets/ Piper Sandler/ Oppenheimer/ Telsey Advisory Group/ Academy Securities/ R. Seelaus/ Samuel A. Ramirez/ Siebert Williams Shank
Expected To Trade: 5/27/2021
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
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