Funko cuts FY2022 adjusted EPS outlook to $0.70-$0.80 from $0.85-$0.95; Q3 sales up 36.6% but profits fall

Funko, Inc.

2022-Q3 EPS reported $0.73 revenue$989,666,000

FY2022 Adjusted Net Income guidance lowered to $39-$41M from $47-$49M; Adjusted EPS now $0.70-$0.80 vs prior $0.85-$0.95.
Q3 net sales $365.6M (+36.6% YoY), but net income down 39.3% to $11.1M; adjusted EBITDA fell 11.2% to $35.7M.
Gross margin contracted 100 bps to 35.0%; SG&A expenses rose 63.5% to $97.9M, pressured by infrastructure investments.
Inventory surged 88.7% to $265.8M; company expects sequential improvement in Q4.
Total liquidity $150.1M, down 22.4% YoY; total debt increased 40.9% to $250.2M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Funko, Inc. reported the third quarter ended September 30, 2022 results: revenue $365.6 million, net income $11.1 million. Guidance lowered.

Period: the third quarter ended September 30, 2022
Revenue: $365.6 million
Net income: $11.1 million
Guidance: lowered
Result: reported results

Exact text from the filing

Net sales increased 36.6% to $365.6 million • Gross profit increased 32.6% to $127.9 million • Gross margin 1 contracted 100 basis points to 35.0% • Net income decreased 39.3% to $11.1 million

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Source: SEC EDGAR

accession 0001193125-22-279232

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