secwatch.observer — SEC 8-K summary
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Issuer:     Funko, Inc. (FNKO)
CIK:        0001704711
Form:       8-K
Filed at:   2024-08-08T23:59:59+00:00
Accession:  0001704711-24-000130
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1704711/000170471124000130/0001704711-24-000130-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1704711/000170471124000130/fnko-20240808.htm
  HTML page:      https://secwatch.observer/filing/0001704711-24-000130

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