Funko, Inc. (FNKO) SEC Filings, Apr-Jun 2026

Funko, Inc. reported that TCG Capital Management, LP, a director and more than ten percent owner, was granted equity-based compensation linked to Class A Common Stock. The grants were made to directors Jesse Jacobs and Mike Kerns for their board service but are held for the benefit of TCG Capital Management.

The filing shows 42,910 options to purchase Class A Common Stock at an exercise price of $5.22 per share, expiring on June 3, 2036, and 28,736 restricted stock units (RSUs), each representing a right to one share or equivalent cash. For each director, 21,445 options and 14,368 RSUs were granted on June 3, 2026, vesting on June 3, 2027, subject to continued service on the board.

Funko, Inc. director Mike Kerns received equity-based compensation tied to his board service. He was granted 21,445 options to purchase Class A Common Stock at an exercise price of $5.22 per share, expiring on June 3, 2036, and 14,368 restricted stock units.

Both the options and RSUs vest on June 3, 2027, subject to his continued service with Funko. Each RSU represents the right to one share of Class A Common Stock or an equivalent cash payment, at the issuer’s election. The grants are held by Kerns for the benefit of TCG Capital Management, LP, and he disclaims beneficial ownership except for his pecuniary interest.

Funko, Inc. director Jesse Jacobs reported receiving equity compensation tied to his board service. He was granted options to purchase 21,445 shares of Class A Common Stock at an exercise price of $5.22 per share, expiring on June 3, 2036, which vest on June 3, 2027. He also received 14,368 restricted stock units that each represent one share of Class A Common Stock or an equivalent cash payment, vesting on June 3, 2027, subject to continued service. The awards are held for the benefit of TCG Capital Management, LP under a stockholders agreement, and Jacobs disclaims beneficial ownership except to the extent of his pecuniary interest.

Funko, Inc. reported the results of its annual stockholder meeting held on June 3, 2026. A total of 43,348,062 Class A and Class B shares were represented, about 77.5% of shares outstanding as of the April 10, 2026 record date, indicating strong participation.

Stockholders elected three Class III directors—Diane Irvine, Jesse Jacobs and Sarah Kirshbaum Levy—to terms ending at the 2029 annual meeting. They also ratified PricewaterhouseCoopers LLP as independent registered public accounting firm for the year ending December 31, 2026, and approved on an advisory basis the compensation of the company’s named executive officers.

Funko, Inc. insider Andrew David Oddie, the company’s Chief International Officer, reported an open-market sale of Class A common stock. He sold 34,656 shares at a price of $6.00 per share on May 8, 2026 under a pre-arranged Rule 10b5-1 trading plan. After this transaction, he directly holds 34,657 shares of Class A common stock.

Andrew Oddie filed a Form 144 reporting the proposed sale of 34,656 restricted stock units of Common Stock. The filing lists Morgan Stanley Smith Barney LLC as broker. The record also shows three dispositions in March 2026: 6,250 shares for $23,187.50; 4,844 shares for $20,001.84; and 5,744 shares for $24,977.91.

Funko, Inc. reported Q1 2026 results showing higher sales and a smaller loss but continued leverage and risk. Net sales rose 5.3% to $200.9 million, while net loss improved to $18.1 million from $28.1 million. Gross margin expanded to 44.2% from 40.3%, helped by product mix, prior price increases and lower royalty impairments. Core Collectible revenue jumped 16.8% to $168.8 million, while Loungefly fell 23.1% to $27.2 million. U.S. sales declined 3.7% to $117.4 million, but Europe grew 25.6% to $68.1 million.

EBITDA turned positive at $4.7 million versus negative $8.1 million a year earlier, and Adjusted EBITDA improved to $11.3 million from negative $4.7 million. Cash and cash equivalents were $34.3 million as of March 31, 2026, with total debt under the Credit Agreement of $211.8 million. A Fifth Amendment to the Credit Agreement extended maturity to December 31, 2027, temporarily eased leverage and coverage covenants, and added a minimum Consolidated EBITDA test, while requiring amortization of revolving borrowings and prepayments of excess cash above $50 million. Management believes existing resources and operating cash flow will cover obligations for at least the next 12 months but acknowledges the need to refinance or otherwise strengthen the balance sheet before debt maturity.

Funko, Inc. reported a much stronger first quarter 2026, with results beating its own guidance and showing early turnaround signs. Net sales rose to $200.9 million from $190.7 million, helped by 17% year-over-year growth in Core Collectibles and solid European demand.

Gross margin improved to 44.2% from 40.3%, the highest level in the company’s history, driven by pricing, mix, fewer discounts and renewed licensing agreements with lower minimum royalties. Adjusted EBITDA swung to a profit of $11.3 million from a loss of $4.7 million, while GAAP net loss narrowed to $18.1 million, or $0.33 per share.

Funko also reduced inventories to $76.8 million and cut total debt to $215.9 million. The company reiterated its 2026 outlook, targeting flat to 3% net sales growth versus 2025 and full-year adjusted EBITDA of $70 million to $80 million, and guided Q2 2026 net sales to $195 million–$205 million with adjusted EBITDA of $5 million–$10 million.

Funko, Inc. is soliciting proxies for its 2026 virtual annual meeting of stockholders on June 3, 2026 at 9:00 a.m. Pacific Time. Holders of 55,835,463 Class A and 91,276 Class B shares as of April 10, 2026 may vote, with each share entitled to one vote.

Stockholders will vote on electing three Class III directors to terms ending in 2029, ratifying PricewaterhouseCoopers LLP as independent auditor for 2026, and approving on an advisory basis the compensation of named executive officers. The board recommends voting FOR all three proposals.