---
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"
generated_at: "2026-06-09T00:37:15.395899+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Funko Q3 net loss $15M, sales down 14%; board director change

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001704711-23-000042
- JSON: https://secwatch.observer/filing/0001704711-23-000042.json
- Plain text: https://secwatch.observer/filing/0001704711-23-000042.txt

## Key facts
- Earnings Releases
  Funko, Inc. reported third quarter ended September 30, 2023 results: revenue $312.9 million, net income $15.0 million, EPS $0.31 per share.
  - Period: third quarter ended September 30, 2023
  - Revenue: $312.9 million
  - Net income: $15.0 million
  - EPS: $0.31 per share
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1704711/000170471123000042/0001704711-23-000042-index.htm
- Executive change
  Michael Kerns was elected as Director at Funko, Inc..
  - Action: elected
  - Role: Director
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1704711/000170471123000042/0001704711-23-000042-index.htm
- Executive change
  Richard A. Paul resigned as Director at Funko, Inc..
  - Action: resigned
  - Role: Director
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1704711/000170471123000042/0001704711-23-000042-index.htm

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