Funko Earnings Call Transcripts
Fiscal Year 2026
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Sales rose 7% in Q2 with broad-based growth, record normalized gross margin, and improved EBITDA. New product launches and experiential activations drove momentum, while tariff credits and debt reduction strengthened the balance sheet.
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The meeting covered board introductions, voting on three proposals, and confirmation of director elections, auditor ratification, and executive compensation approval. No questions were submitted during the Q&A session.
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Q1 saw 5% sales growth and record 44% gross margin, driving $11M adjusted EBITDA. Guidance for Q2 and the year remains positive, with continued innovation, retail expansion, and strong global demand, especially in collectibles and Loungefly accessories.
Fiscal Year 2025
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Q4 net sales and profitability exceeded expectations, with strong growth in Europe and improving U.S. trends. 2026 guidance calls for flat to modest sales growth but a substantial EBITDA increase, driven by licensing renewals, cost controls, and new product initiatives.
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Q3 net sales reached $250.9M with a 40.2% gross margin, and adjusted EBITDA exceeded expectations. The Make Culture Pop strategy, new licensing deals, and product innovations position the company for modest Q4 growth, despite ongoing refinancing and market caution.
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Q2 sales fell 22% year-over-year due to U.S. tariff disruptions, resulting in a $26.7 million adjusted net loss and negative adjusted EBITDA. Cost-cutting, price increases, and production shifts are underway, with improved performance expected in the second half.
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Net sales and gross margin met or exceeded guidance, with international markets driving growth and U.S. performance pressured by tariffs. The 2025 outlook was withdrawn due to macro uncertainty, but cost controls, supply chain shifts, and pricing actions are expected to offset tariff impacts in the second half.
Fiscal Year 2024
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Q4 net sales rose 1% year-over-year to $294 million, with gross margin up to 42% and adjusted EBITDA at $26 million. Direct-to-consumer and international sales drove growth, while 2025 guidance reflects tariff and consumer headwinds but expects improvement in the second half.
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Q3 results exceeded profitability guidance with strong gross margin and Adjusted EBITDA, despite lower net sales. Full-year sales outlook was trimmed, but profit guidance was raised. Strategic initiatives and new product launches are driving fan engagement and operational efficiency.
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Q2 saw a return to profitability with net sales up 3% year-over-year and strong gross margin. Direct-to-consumer sales and international growth, especially in Europe, drove results, while guidance for 2024 was reiterated amid ongoing market uncertainties.