---
schema_version: "secwatch.filing_event.v1"
accession: "0001704711-23-000024"
form_type: "8-K"
ticker: "FNKO"
cik: "0001704711"
company_name: "Funko, Inc."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T22:24:10.296756+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Funko Q1 net sales down 18% to $251.9M; net loss widens to $61.1M; raises FY Adj. EBITDA outlook to $65-75M

## Summary
- Net sales fell 18% to $251.9M; net loss surged 521% to $61.1M ($1.17 GAAP diluted loss).
- Adjusted EBITDA swung to a loss of $14.0M from +$36.3M; adjusted loss per share $0.49.
- Gross margin fell to 19.7% from 35.3% due to $30.1M inventory write-down; adjusted gross margin ~32%.
- Direct-to-consumer sales jumped 61% YoY; new Bitty Pop! and Fanatics partnership launched.
- FY2023 adjusted EBITDA guidance raised to $65M-$75M (midpoint $70M); Q2 sees $240-260M sales, Adj. EBITDA loss of $10M to zero.

## SEC filing metadata
- accession: 0001704711-23-000024
- form_type: 8-K
- ticker: FNKO
- cik: 0001704711
- company_name: Funko, Inc.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1704711/000170471123000024/0001704711-23-000024-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1704711/000170471123000024/fnko-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001704711-23-000024
- JSON: https://secwatch.observer/filing/0001704711-23-000024.json
- Plain text: https://secwatch.observer/filing/0001704711-23-000024.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.