$FNKO

Funko, Inc.

CIK:0001704711|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 207,719	$ 193,469	$ 408,638	$ 384,208
Cost of sales (exclusive of depreciation and amortization)	90,090	131,429	202,182	245,297
Selling, general, and administrative expenses	79,723	82,259	163,410	167,066
Depreciation and amortization	15,767	14,528	30,541	29,790
Total operating expenses	185,580	228,216	396,133	442,153
Income (loss) from operations	22,139	(34,747)	12,505	(57,945)
Interest expense, net	5,198	4,522	10,082	8,371
Other expense, net	480	887	936	1,055
Income (loss) before income taxes	16,461	(40,156)	1,487	(67,371)
Income tax expense	1,016	848	4,169	1,692
Net income (loss)	15,445	(41,004)	(2,682)	(69,063)
Less: net income (loss) attributable to non-controlling interests	61	(514)	9	(985)
Net income (loss) attributable to Funko, Inc.	$ 15,384	$ (40,490)	$ (2,691)	$ (68,078)
Income (loss) per share of Class A common stock:
Basic (in dollars per share)	$ 0.28	$ (0.74)	$ (0.05)	$ (1.26)
Diluted (in dollars per share)	$ 0.27	$ (0.74)	$ (0.05)	$ (1.26)
Weighted average shares of Class A common stock outstanding:
Basic (in shares)	55,859,890	54,362,341	55,643,544	53,948,365
Diluted (in shares)	57,460,533	54,362,341	55,643,544	53,948,365

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net loss	$ (2,682)	$ (69,063)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	30,541	29,790
Equity-based compensation	5,196	6,377
Other, net	1,133	1,301
Changes in operating assets and liabilities:
Accounts receivable, net	23,318	24,572
Inventories	(6,160)	(5,761)
Prepaid expenses and other assets	2,499	5,529
Accounts payable	(5,992)	3,207
Accrued royalties	(5,109)	(14,967)
Accrued expenses and other liabilities	(19,114)	(25,427)
Net cash provided by (used in) operating activities	23,630	(44,442)
Investing Activities
Purchases of property and equipment	(18,954)	(16,211)
Other, net	0	970
Net cash used in investing activities	(18,954)	(15,241)
Financing Activities
Borrowings on revolving credit facility	0	85,000
Debt amendment costs	(3,648)	0
Payments of term debt	(21,303)	(11,530)
Proceeds from sale of tariff receivable	(19,248)	0
Payments under tax receivable agreement	(249)	0
Other, net	179	193
Net cash (used in) provided by financing activities	(5,773)	73,663
Effect of exchange rates on cash and cash equivalents	(338)	516
Net change in cash and cash equivalents	(1,435)	14,496
Cash and cash equivalents at beginning of period	42,148	34,655
Cash and cash equivalents at end of period	$ 40,713	$ 49,151

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 40,713	$ 42,148
Accounts receivable, net	93,561	117,018
Inventories	88,800	83,136
Prepaid expenses and other current assets	51,540	48,094
Total current assets	274,614	290,396
Property and equipment, net	64,498	68,679
Operating lease right-of-use assets, net	41,671	46,928
Goodwill	133,848	133,900
Intangible assets, net	127,925	135,826
Other assets	11,191	9,505
Total assets	653,747	685,234
Current liabilities:
Revolving credit facility	1,500	1,125
Current portion of term debt	16,939	21,932
Current portion of operating lease liabilities	16,989	18,792
Accounts payable	58,206	64,748
Accrued royalties	54,712	59,821
Accrued expenses and other current liabilities	87,583	77,499
Total current liabilities	235,929	243,917
Long-term debt	182,659	202,246
Operating lease liabilities	43,273	48,680
Other long-term liabilities	3,867	4,261
Commitments and Contingencies (Note 6)
Stockholders’ equity:
Additional paid-in-capital	362,526	357,330
Accumulated other comprehensive income	4,003	4,621
Accumulated deficit	(178,833)	(176,142)
Total stockholders’ equity attributable to Funko, Inc.	187,701	185,814
Non-controlling interests	318	316
Total stockholders’ equity	188,019	186,130
Total liabilities and stockholders’ equity	653,747	685,234
Class A Common Stock
Stockholders’ equity:
Common stock, value	5	5
Class B Common Stock
Stockholders’ equity:
Common stock, value	$ 0	$ 0