{"schema_version":"secwatch.filing_event.v1","accession":"0001704711-23-000042","form_type":"8-K","ticker":"FNKO","cik":"0001704711","company_name":"Funko, Inc.","filed_at":"2023-11-02T23:59:59+00:00","discovered_at":"2026-05-14T18:03:30.110714+00:00","generated_at":"2026-06-09T00:37:15.395899+00:00","sec_items":["2.02","5.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Funko Q3 net loss $15M, sales down 14%; board director change","bullets":["Net sales $312.9M, down 14.4% YoY; net loss $15.0M vs $9.6M income.","Adjusted net income $1.7M ($0.03/diluted) vs $15.1M; Adj. EBITDA $25.4M vs $35.7M.","FY2023 net sales guidance narrowed to $1.065B-$1.105B; adj. EBITDA unchanged $20M-$30M.","Board: Richard A. Paul resigned; Michael Kerns elected as director, effective Nov 2, 2023.","Inventories down to $162.1M from $246.4M; cash $31.9M."],"urls":{"canonical":"https://secwatch.observer/filing/0001704711-23-000042","json":"https://secwatch.observer/filing/0001704711-23-000042.json","markdown":"https://secwatch.observer/filing/0001704711-23-000042.md","text":"https://secwatch.observer/filing/0001704711-23-000042.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1704711/000170471123000042/0001704711-23-000042-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1704711/000170471123000042/fnko-20231101.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-09T00:37:15.395899+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2d0af9c48a2e02f4246af78f421bfc795e6a08c4","claim":"Funko, Inc. reported third quarter ended September 30, 2023 results: revenue $312.9 million, net income $15.0 million, EPS $0.31 per share.","evidence_excerpt":"Net sales were $312.9 million for the 2023 third quarter versus $365.6 million for the 2022 third quarter • Gross profit was $104.0 million, equal to gross margin of 33.2%, for the 2023 third quarter, which included $6.4 million of charges related to factory purchase order cancellations, versus 35.0% for the 2022 third quarter • SG&A expenses were $94.0 million for the 2023 third quarter, which included $9.9 million of one-time expenses comprised of $6.2 million primarily related to the termination of a lease agreement and $3.7 million for severance and related charges. This compares with $97.9 million for the 2022 third quarter, which included $1.1 million of one-time relocation costs in connection with the opening of a new warehouse and distribution facility in Buckeye, Arizona • Net loss was $15.0 million, or $0.31 per share, for the 2023 third quarter, versus net income of $9.6 million, or $0.19 per diluted share, for the 2022 third quarter","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1704711/000170471123000042/0001704711-23-000042-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"third quarter ended September 30, 2023"},{"label":"Revenue","value":"$312.9 million"},{"label":"Net income","value":"$15.0 million"},{"label":"EPS","value":"$0.31 per share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"7d58708419","claim":"Michael Kerns was elected as Director at Funko, Inc..","evidence_excerpt":"On November 1, 2023, Michael Kerns was elected to the Board to fill the vacancy created by Mr. Paul’s resignation, effective November 2, 2023.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1704711/000170471123000042/0001704711-23-000042-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"elected"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"d0f9ddf10b","claim":"Richard A. Paul resigned as Director at Funko, Inc..","evidence_excerpt":"On November 1, 2023, Richard A. Paul resigned as a member of the Company’s Board of Directors (the “Board”), effective November 2, 2023.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1704711/000170471123000042/0001704711-23-000042-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}