secwatch.observer — SEC 8-K summary
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Issuer:     Funko, Inc. (FNKO)
CIK:        0001704711
Form:       8-K/A
Filed at:   2022-11-07T23:59:59+00:00
Accession:  0001193125-22-279232
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1704711/000119312522279232/0001193125-22-279232-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1704711/000119312522279232/d375187d8ka.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-279232

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