Funko, Inc. sells pop culture lifestyle and collectibles products under brands that include Funko, Loungefly and Mondo. Its updates commonly cover Core Collectibles, vinyl figures, micro-collectibles, fashion accessories, apparel, plush, action toys, high-end art and music collectibles, including the Pop!, Bitty Pop! and Pop! Yourself lines.
Company news also centers on quarterly and annual results, gross margin, inventory and debt trends, international sales, licensing and retail-channel activity. Other recurring items include credit-agreement amendments, Nasdaq inducement equity grants, board and executive changes, and investor presentation materials.
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.
Funko, a leading pop culture lifestyle brand, has appointed Trevor Edwards to its Board of Directors, effective July 27, 2022. Edwards, a strategic advisor with extensive experience in brand management, previously served as President of Nike. Funko's CEO Andrew Perlmutter expressed excitement about Edwards' appointment, emphasizing his expertise in building iconic brands. Funko continues to engage its fan community through events and has recently surpassed 3 million followers on Instagram, highlighting its commitment to innovation and consumer engagement.
Funko, Inc. (Nasdaq: FNKO), a prominent pop culture lifestyle brand, has scheduled a conference call for Thursday, August 4, 2022, at 4:30 p.m. ET to discuss its financial results for the second quarter ended June 30, 2022. The call will be available for webcast on the investor relations section of the Funko website, with a recording accessible afterward. Funko specializes in designing, sourcing, and distributing licensed pop culture products, including vinyl figures, action toys, and more.
Funko, Inc. (Nasdaq: FNKO), a leader in pop culture merchandise, will participate in a virtual fireside chat at the Jefferies Consumer Conference. The event is scheduled for 8:00 a.m. EDT on Monday, June 20, 2022, and will be accessible via the investor relations section of the Funko website. A recording of the chat will be available afterward. Funko provides a wide range of licensed pop culture products, including vinyl figures, toys, and apparel, catering to fans of various franchises.