Sprouts Farmers Market closes $600 million revolving credit facility
FIGS (FIGS) reported Q1 EPS of $0.05, $0.01 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $110.1 million versus the consensus estimate of $116.92 million.
GUIDANCE:
FIGS sees FY2022 revenue of $510-530 million, versus the consensus of $556.5 million.
- Net revenues are expected to be in the range of $510 to $530 million, representing year over year growth of approximately 22% to 26%, compared to the previous outlook of $550 to $560 million, reflecting supply chain challenges and broader macroeconomic factors, including high inflation and shifts in consumer spending patterns.
- Gross margin is expected to be in the range of 67% to 68%, compared to the Company’s previous outlook of 70%+, primarily due to a significant increase in the Company’s use of air freight to help mitigate supply chain challenges.
- Adjusted EBITDA margin(3) is expected to be in the range of 16% to 18%, compared to the Company’s previous outlook of 20%+, as the Company balances continued investment with the near-term impact on gross margin.