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  "documentTitle": "FIGS, Inc. (FIGS)",
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  "authorName": "Spruce Point Capital Management",
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      "text": "FIGS recently made an unusual practice of eliminating its written 2022 Gross Margin guidance in its press release, while on the conference call claiming to maintain it in H2 2022. But looking carefully, we see FIGS updated its “Forward-looking statements” to remove the coverage of the word gross margin. Even more telling, FIGS removed from its Forward-looking statements the words “to fuel profitable growth”.",
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      "text": "Comparison of guidance updates across three periods for Net Revenue, Gross Margin, and Adjusted EBITDA Margin.",
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