Welcome to our dedicated page for Funko news (Ticker: FNKO), a resource for investors and traders seeking the latest updates and insights on Funko stock.
Funko Inc (FNKO) delivers pop culture-inspired collectibles and licensed merchandise to global audiences through innovative product design and strategic partnerships. This news hub provides investors and enthusiasts with essential updates directly from corporate sources.
Access official press releases, earnings reports, and strategic announcements in one centralized location. Our curated feed includes product launch details, licensing expansions, leadership updates, and financial disclosures – all critical for understanding Funko's market position.
Key coverage areas: quarterly financial results, new collectible line announcements, retail partnership developments, and corporate governance updates. Each update is verified for accuracy and timeliness to support informed analysis of FNKO's performance.
Bookmark this page for streamlined access to Funko's latest developments in the dynamic pop culture merchandise sector. Regular updates ensure you maintain current awareness of the company's strategic initiatives and market opportunities.
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.
Funko, Inc. (Nasdaq: FNKO) will host an Investor Day on September 13, 2022 at 2:00 p.m. Eastern Time. The event will feature CEO Andrew Perlmutter and leadership presenting the Company's five-year strategic growth plan, followed by a live Q&A session. A live webcast and a replay will be available on the Company's Investor Relations website for one year, with presentation materials accessible prior to the event.
Funko, Inc. (Nasdaq: FNKO) reported a remarkable second quarter for 2022, showcasing a 33.7% year-over-year increase in net sales, totaling $315.7 million. Despite this growth, net income fell 24.6% to $15.8 million, with net income margin contracting to 5.0%. Adjusted EBITDA also declined 22.7% to $31.8 million. The firm experienced significant sales growth across all geographies, particularly with a 114% increase in Loungefly sales. However, challenges included a 640 basis point decrease in gross margin due to rising freight costs and an increase in SG&A expenses by 50.7%.
Funko (Nasdaq: FNKO) is set to enter the lucrative video game market through a collaboration with 10:10 Games, announced during the San Diego Comic-Con. The first project is an AAA Action Platformer, expected to launch in 2023. This partnership aims to leverage industry talent, including BAFTA award winner Jon Burton, to create games reflecting the Funko brand’s unique identity. The game will cater to current and next-gen consoles and is anticipated to receive a 'T' rating for teens, featuring major third-party studio integration.
Funko, a leading pop culture brand, has been recognized as one of America’s fastest-growing online stores in Newsweek’s rankings for 2022. The company achieved an 'extremely high' growth designation in the Collectibles category, based on criteria including revenue and traffic growth. During the pandemic, Funko expanded its direct-to-consumer model, enhancing connections with fans and increasing product offerings on its websites. The recognition highlights Funko's successful DTC strategy, positioning it as a prominent player in the collectibles market.
Funko (Nasdaq: FNKO) has unveiled the 'Summer of Loungefly,' a vibrant brand experience scheduled for August 13, 2022, at Goya Studios in Los Angeles. This event celebrates Loungefly's latest collections featuring beloved franchises like Lisa Frank, Care Bears, and Disney. Attendees can enjoy themed installations, interactive photo opportunities, and special snacks, creating a unique fusion of fashion and fandom. With over-the-top designs and a focus on body positivity in their new Stitch Shoppe line, this marks the largest event for Loungefly to date.
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