Funko Q2 net sales $247.7M (+3.2%), adj EBITDA $27.9M beat; reiterates FY outlook

Funko, Inc.

2024-Q2 EPS reported -$0.34 revenue$463,356,000

Net sales $247.7M vs $240.0M YoY; gross margin 42.0% (was 29.2%); net income $5.4M ($0.10 EPS) vs loss $75.9M.
Adj EBITDA $27.9M vs negative $7.6M; inventory $109.0M (down from $119.5M Dec 2023); debt $223.9M (down from $273.6M).
Core Collectible sales +6.4% to $186.7M; Loungefly -13.4% to $41.5M; international sales up 20.8% in Europe.
Reiterated FY2024: net sales $1.047-1.103B, adj EBITDA $65-85M; Q3 guidance: net sales $282-297M, adj EBITDA $21-25M.
Appointed Yves Le Pendeven as CFO, previously acting CFO since March 2024.

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