secwatch.observer — SEC 8-K summary
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Issuer:     Funko, Inc. (FNKO)
CIK:        0001704711
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001704711-23-000042
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1704711/000170471123000042/0001704711-23-000042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1704711/000170471123000042/fnko-20231101.htm
  HTML page:      https://secwatch.observer/filing/0001704711-23-000042

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