{"schema_version":"secwatch.filing_event.v1","accession":"0001704711-24-000076","form_type":"8-K","ticker":"FNKO","cik":"0001704711","company_name":"Funko, Inc.","filed_at":"2024-05-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:19.668828+00:00","generated_at":"2026-06-02T06:27:46.084398+00:00","sec_items":["2.02","5.02","9.01"],"event_type":"leadership","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Funko appoints Cynthia Williams as CEO; Q1 net sales $215.7M, net loss $23.7M, FY guidance reiterated","bullets":["Q1 net sales $215.7M, down 14.4% YoY; net loss $23.7M ($0.45/share) vs $61.1M loss a year ago.","Gross margin 40.0% (vs 19.7% in Q1 2023, which included $30.1M inventory write-down); Adj. EBITDA $9.6M vs negative $14.0M.","Cynthia Williams appointed CEO effective May 20, 2024, replacing interim CEO Michael Lunsford; she also joins board as Class II director.","FY 2024 guidance reiterated: net sales $1.047B-$1.103B, adjusted EBITDA $65M-$85M; Q2 net sales guided $225M-$240M.","Inventory reduced to $112.3M from $119.5M at Dec 2023; total debt down to $246.4M from $273.6M."],"urls":{"canonical":"https://secwatch.observer/filing/0001704711-24-000076","json":"https://secwatch.observer/filing/0001704711-24-000076.json","markdown":"https://secwatch.observer/filing/0001704711-24-000076.md","text":"https://secwatch.observer/filing/0001704711-24-000076.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1704711/000170471124000076/0001704711-24-000076-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1704711/000170471124000076/fnko-20240508.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T06:27:46.084398+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":"48ddd05575b8a8042f5498ddcbd10ac28804bb64","claim":"Funko, Inc. reported first quarter ended March 31, 2024 results: net income $23.7 million, EPS $0.45 per share.","evidence_excerpt":"Net sales were $215.7 million compared with $251.9 million","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1704711/000170471124000076/0001704711-24-000076-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2024"},{"label":"Net income","value":"$23.7 million"},{"label":"EPS","value":"$0.45 per share"},{"label":"Result","value":"reported results"}]},{"claim_id":"48ddd05575b8a8042f5498ddcbd10ac28804bb64","claim":"Funko, Inc. reported first quarter ended March 31, 2024 results: net income $23.7 million, EPS $0.45 per share.","evidence_excerpt":"Net loss was $23.7 million, or $0.45 per share, compared with $61.1 million, or $1.17 per share","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1704711/000170471124000076/0001704711-24-000076-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2024"},{"label":"Net income","value":"$23.7 million"},{"label":"EPS","value":"$0.45 per share"},{"label":"Result","value":"reported results"}]},{"claim_id":"75366d424ee680858c06c4ddbbd56a2f63136bfa","claim":"Funko, Inc. reported 2024 full year results: revenue $1.047 billion to $1.103 billion. Guidance reaffirmed.","evidence_excerpt":"Based on its current outlook, the company reiterated its 2024 full-year outlook and provided guidance for its 2024 second quarter, as follows: Current Outlook 2024 Full Year Net Sales $1.047 billion to $1.103 billion Adjusted EBITDA* $65 million to $85 million","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1704711/000170471124000076/0001704711-24-000076-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"2024 full year"},{"label":"Revenue","value":"$1.047 billion to $1.103 billion"},{"label":"Guidance","value":"reaffirmed"},{"label":"Result","value":"guidance update"}]},{"claim_id":"24ca38349d","claim":"Cynthia Williams was appointed as Class II Director at Funko, Inc..","evidence_excerpt":"On May 8, 2024, following a search process, the Board of Directors (the “Board”) of the Company appointed Cynthia Williams as the Company’s Chief Executive Officer and a Class II director, in each case effective May 20, 2024 (the “Effective Date”).","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1704711/000170471124000076/0001704711-24-000076-index.htm","confidence":0.9,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Class II Director"}]},{"claim_id":"2c9d1153a1","claim":"Cynthia Williams was appointed as Chief Executive Officer at Funko, Inc..","evidence_excerpt":"On May 8, 2024, following a search process, the Board of Directors (the “Board”) of the Company appointed Cynthia Williams as the Company’s Chief Executive Officer and a Class II director, in each case effective May 20, 2024 (the “Effective Date”).","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1704711/000170471124000076/0001704711-24-000076-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chief Executive Officer"}]},{"claim_id":"41345b3716","claim":"Andrew Perlmutter resigned as Class II Director at Funko, Inc..","evidence_excerpt":"Andrew Perlmutter resigned as a Class II director of the Company, effective on the Effective Date.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1704711/000170471124000076/0001704711-24-000076-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Class II Director"}]},{"claim_id":"8641345f28","claim":"Michael Lunsford changed role as Interim Chief Executive Officer at Funko, Inc..","evidence_excerpt":"Ms. Williams succeeds Michael Lunsford, the Company’s Interim Chief Executive Officer.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1704711/000170471124000076/0001704711-24-000076-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"succeeded"},{"label":"Role","value":"Interim Chief Executive Officer"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}