Funko Stock Price, News & Analysis

Funko, Inc. (FNKO) reported its fourth quarter and fiscal year 2022 results, revealing a 1% decline in net sales, totaling $333.0 million, with a staggering 368% decrease in net income to $(46.7) million. Despite the challenges, the Company saw a 29% increase in annual sales, reaching $1.3 billion. Funko projects Q1 2023 revenue between $225 million and $255 million, with expectations for adjusted EBITDA to return to positive in the second half of 2023. The Company has also recently appointed Steve Nave as Chief Financial Officer and Chief Operating Officer. Key initiatives include estimated annual cost savings of $150 million to $180 million.

Funko, a leading pop culture lifestyle brand, will hold a conference call on March 1, 2023, at 4:30 p.m. ET to discuss its financial results for the fourth quarter ending December 31, 2022. The call will be accessible via the investor relations section of Funko's website, where a recording will also be available afterward. Funko specializes in designing and distributing licensed products, including vinyl figures and board games, aimed at pop culture enthusiasts. For more information, visit Funko's Investor Relations.

Funko has launched a new initiative through its Pops! With Purpose collection, featuring limited-edition items of Venus Williams and Eazy E. For each pop sold, Funko will donate $10 to Color Compton, which empowers students by sharing their cultural history and introducing art. The pre-sale is available exclusively on Funko.com.

Since its inception in 2021, Pops! With Purpose has partnered with several organizations to give back to the community. Funko CEO Brian Mariotti emphasized the company's commitment to philanthropy and community engagement.

Funko, Inc. (NASDAQ: FNKO) announced key leadership changes aimed at enhancing operations and shareholder value. Brian Mariotti returns as CEO, succeeding Andrew Perlmutter, who transitions to President. Jennifer Fall Jung steps down as CFO, with Scott Yessner appointed interim CFO. A search for a permanent CFO is underway, and a new COO role is being created. The Board emphasizes that these changes focus on operational improvements and strategic growth, with no issues related to financial integrity reported. This represents a proactive approach to strengthen Funko's market position and drive profitability.

Funko, Inc. (Nasdaq: FNKO) reported robust third-quarter results for 2022, with net sales soaring by 36.6% to $365.6 million. Despite this growth, net income fell by 39.3% to $11.1 million, and adjusted EBITDA decreased by 11.2% to $35.7 million. The company saw strong performance internationally, with Europe up 32.9%. However, gross margin contracted to 35.0% due to rising product costs. Total liquidity stood at $150.1 million, down 22.4% from last year, while total debt increased by 40.9% to $250.2 million.

Funko, Inc. (NASDAQ: FNKO) has announced a conference call scheduled for November 3, 2022, at 4:30 p.m. ET to discuss its third-quarter financial results for the period ended September 30, 2022. The call will be accessible via the investor relations section of Funko's website, allowing investors to stay informed about the company's performance. A recording will be available post-call on their website.

Funko has announced a new addition to its Digital Pop! series featuring a bundle of a DC comic book cover, The Brave and the Bold #28, available for purchase starting October 7, 2022. This limited-edition collection will feature 30,000 units, combining a physical collectible with a digital NFT. The launch aims to enhance retail innovation in digital collectibles through a collaboration with Warner Bros. Consumer Products and will be exclusive to Walmart.com.

Funko (NASDAQ: FNKO) announced the opening of its new retail location, "Tha Dogg House," in Inglewood, CA, in early 2023. This co-branded experience with Snoop Dogg will feature exclusive collectibles and products from various pop culture categories. Located near SoFi Stadium, the store aims to create an immersive atmosphere celebrating Snoop's career. Funko's CEO and Chief Creative Officer highlighted Snoop's influence in enhancing the brand's connection with music and sports fandoms. This marks Funko's third U.S. retail venture, following locations in Hollywood and Everett.