secwatch.observer — SEC 8-K summary
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Issuer:     Funko, Inc. (FNKO)
CIK:        0001704711
Form:       8-K
Filed at:   2022-05-05T23:59:59+00:00
Accession:  0001704711-22-000018
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Funko Q1 net sales +63% YoY to $308.3M; raises FY22 guidance to $1.275-1.325B
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- Net sales $308.3M (+63% YoY); net income $14.5M (+31% YoY); GAAP EPS $0.23, adjusted EPS $0.34.
- Loungefly brand sales surged 103.5% YoY to $50.1M; DTC sales rose 36% on higher conversion.
- Gross margin fell 610 bps to 35.3% due to freight inflation; adjusted EBITDA $36.3M (+21.8% YoY).
- FY 2022 guidance raised: net sales $1.275-1.325B, adjusted EPS $1.80-$1.90, adj. EBITDA margin ~14.6%.
- Q2 gross margin expected down sequentially; SG&A % of sales to increase on distribution center relocation spend.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1704711/000170471122000018/0001704711-22-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1704711/000170471122000018/fnko-20220505.htm
  HTML page:      https://secwatch.observer/filing/0001704711-22-000018

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer