FIGS Inc. holds annual meeting, elects directors

FIGS, Inc., a company specializing in apparel and finished fabric products with a market capitalization of $836 million, announced the results of its annual stockholders meeting held on June 4, 2025. According to InvestingPro data, the company maintains impressive gross profit margins of 67.35% and holds more cash than debt on its balance sheet. During the virtual meeting, stockholders voted on several key proposals, including the election of directors and the ratification of the company’s independent auditor.

Stockholders with Class A common stock were granted one vote per share, while Class B stockholders had twenty votes per share. In total, approximately 95.07% of the combined voting power of both classes was represented at the meeting, establishing a quorum. InvestingPro analysis reveals that management has been actively buying back shares, demonstrating confidence in the company’s direction. Subscribers can access 10+ additional exclusive insights about FIGS through the comprehensive Pro Research Report.

The first proposal involved the election of three Class I directors, Catherine Spear, Sheila Antrum, and Mario Marte, to serve until the 2028 annual meeting. Spear received 264,982,531 votes for, Antrum 272,750,379, and Marte 283,709,491, with all three being elected to the board.

The second proposal was the ratification of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. This was approved with a significant majority, garnering 303,225,953 votes for and 727,395 against.

The third proposal sought advisory approval of the compensation of the company’s named executive officers. This received 280,851,544 votes for, 6,295,421 against, and 1,411,307 abstained, leading to its approval.

The meeting’s decisions are detailed in the definitive proxy statement filed with the Securities and Exchange Commission on April 24, 2025. The results indicate stockholder confidence in the existing leadership and financial oversight.

This report is based on an SEC filing by FIGS, Inc. and serves to inform stockholders and the public of the outcomes of the annual meeting. The company’s current ratio of 3.96 indicates strong short-term financial health, with liquid assets well exceeding short-term obligations. For detailed financial analysis and future earnings forecasts, investors can access FIGS’s complete financial health assessment through InvestingPro’s extensive metrics and expert insights.

In other recent news, Figs Inc (NYSE:FIGS). reported its first-quarter 2025 earnings, revealing a revenue of $124.9 million, surpassing analyst expectations of $119.12 million. Despite this positive earnings surprise, the company posted a net loss of $100,000 for the quarter. The adjusted EBITDA margin was reported at 7.2%, exceeding initial projections. Figs also experienced a 5% year-over-year increase in net revenues, with a record high Average Order Value of $119. However, despite these financial achievements, Figs’ stock fell by 8.91% in after-hours trading, reflecting investor concerns over future guidance and the net loss.

Looking ahead, Figs anticipates a full-year net revenue decline in the low single digits, with an adjusted EBITDA margin forecasted between 7.5% and 8.5%. The company plans to focus on international expansion and B2B sales while addressing supply chain challenges. On the analyst front, no specific upgrades or downgrades were mentioned. The company remains committed to its growth strategy, emphasizing its strong balance sheet and the importance of maintaining product quality.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.