Funko posts Q4 net loss $10.8M, sales down 12.6% YoY; CFO leaves March 15

Funko, Inc.

Q4 net sales $291.2M (-12.6% YoY); gross margin 37.6% vs 28.3% a year ago.
Q4 net loss $10.8M ($0.21/sh) vs loss $42.2M ($0.89/sh) prior year.
Adjusted Q4 EBITDA $23.5M vs negative $6.3M; FY2024 adjusted EBITDA guidance $65M-$85M.
CFO/COO Steve Nave resigns effective March 15, 2024; Yves LePendeven named Acting CFO.
Inventory slashed to $119.5M from $246.4M; debt reduced $26M in Q4.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed (interim)

Yves LePendeven

Acting Chief Financial Officer

FNKO · Funko, Inc.

Effective: 2024-03-15
Filed: March 7, 2024, 6:59 PM ET

Also on March 6, 2024, the Company’s Board of Directors (the “Board”) appointed Yves LePendeven as the Company’s Acting Chief Financial Officer and designated him as the Company’s principal financial officer and principal accounting officer, in each case effective as of the Effective Date.

Departed

Steve Nave

Chief Financial Officer and Chief Operating Officer

FNKO · Funko, Inc.

Effective: 2024-03-15
Successor: Yves LePendeven
Filed: March 7, 2024, 6:59 PM ET

On March 6, 2024, Steve Nave resigned as Chief Financial Officer and Chief Operating Officer of Funko, Inc. (the “Company”), effective March 15, 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Funko, Inc. updated its the quarter and fiscal year ended December 31, 2023 guidance (initiated).

Period: the quarter and fiscal year ended December 31, 2023
Guidance: initiated
Result: reported results

Exact text from the filing

On March 7, 2024 , Funko, Inc. (the “Company”) announced its financial results for the quarter and fiscal year ended December 31, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Yves LePendeven was appointed as Acting Chief Financial Officer at Funko, Inc..

Action: appointed
Role: Acting Chief Financial Officer

Exact text from the filing

Also on March 6, 2024, the Company’s Board of Directors (the “Board”) appointed Yves LePendeven as the Company’s Acting Chief Financial Officer and designated him as the Company’s principal financial officer and principal accounting officer, in each case effective as of the Effective Date.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Steve Nave resigned as Chief Financial Officer and Chief Operating Officer at Funko, Inc..

Action: resigned
Role: Chief Financial Officer and Chief Operating Officer

Exact text from the filing

On March 6, 2024, Steve Nave resigned as Chief Financial Officer and Chief Operating Officer of Funko, Inc. (the “Company”), effective March 15, 2024.

View on SEC.gov

24 earnings releases filed in the last 30 days. Browse all earnings releases →

Funko, Inc. filing history →

Source: SEC EDGAR

accession 0001704711-24-000011

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