---
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"
generated_at: "2026-06-02T06:27:46.084398+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Funko appoints Cynthia Williams as CEO; Q1 net sales $215.7M, net loss $23.7M, FY guidance reiterated

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001704711-24-000076
- JSON: https://secwatch.observer/filing/0001704711-24-000076.json
- Plain text: https://secwatch.observer/filing/0001704711-24-000076.txt

## Key facts
- Earnings Releases
  Funko, Inc. reported first quarter ended March 31, 2024 results: net income $23.7 million, EPS $0.45 per share.
  - Period: first quarter ended March 31, 2024
  - Net income: $23.7 million
  - EPS: $0.45 per share
  - Result: reported results
  source text: Net sales were $215.7 million compared with $251.9 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1704711/000170471124000076/0001704711-24-000076-index.htm
- Earnings Releases
  Funko, Inc. reported first quarter ended March 31, 2024 results: net income $23.7 million, EPS $0.45 per share.
  - Period: first quarter ended March 31, 2024
  - Net income: $23.7 million
  - EPS: $0.45 per share
  - Result: reported results
  source text: Net loss was $23.7 million, or $0.45 per share, compared with $61.1 million, or $1.17 per share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1704711/000170471124000076/0001704711-24-000076-index.htm
- Earnings Releases
  Funko, Inc. reported 2024 full year results: revenue $1.047 billion to $1.103 billion. Guidance reaffirmed.
  - Period: 2024 full year
  - Revenue: $1.047 billion to $1.103 billion
  - Guidance: reaffirmed
  - Result: guidance update
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1704711/000170471124000076/0001704711-24-000076-index.htm
- Executive change
  Cynthia Williams was appointed as Class II Director at Funko, Inc..
  - Action: appointed
  - Role: Class II Director
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1704711/000170471124000076/0001704711-24-000076-index.htm
- Executive change
  Cynthia Williams was appointed as Chief Executive Officer at Funko, Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1704711/000170471124000076/0001704711-24-000076-index.htm
- Executive change
  Andrew Perlmutter resigned as Class II Director at Funko, Inc..
  - Action: resigned
  - Role: Class II Director
  source text: Andrew Perlmutter resigned as a Class II director of the Company, effective on the Effective Date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1704711/000170471124000076/0001704711-24-000076-index.htm
- Executive change
  Michael Lunsford changed role as Interim Chief Executive Officer at Funko, Inc..
  - Action: succeeded
  - Role: Interim Chief Executive Officer
  source text: Ms. Williams succeeds Michael Lunsford, the Company’s Interim Chief Executive Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1704711/000170471124000076/0001704711-24-000076-index.htm

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