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  "documentTitle": "FIGS, Inc. (FIGS)",
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  "notes": "Includes a table of quarterly international revenue growth and a testimonial from a former executive.",
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      "text": "FIGS management has made bold claims about international expansion that are inconsistent with the record of other high growth retailers and minimize international challenges. In fact, FIGS' recent international growth is already starting to slow, even as it enters more countries.",
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      "text": "FIGS management has made bold claims about international expansion that are inconsistent with the record of other high growth retailers and minimize international challenges.",
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      "text": "QoQ Growth: 8%",
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      "text": "To this day, I'm surprised that they've been able to scale the company. It gets back to maybe they've just been like really lucky... really scaling this thing to a billion dollars and up and going international, I don't know how they're gonna do it.",
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      "text": "\"We’re expanding into Canada later this year, and within the next five years, we plan to be in every country around the world.\" — Entrepreneur Interview with Spear, May 28, 2019",
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      "text": "Source: FIGS 424B filed 5/28/21, FIGS 10-K filed 3/10/22, FIGS 10-Q filed 5/12/22, FIGS 10-Q filed 8/4/22",
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      "text": "We Are Skeptical That FIGS Will Achieve Its International Goals",
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