Funko Q4 net sales $273.1M, down 7% YoY; FY25 net loss widens to $67.4M; guides FY26 EBITDA $70-80M

Funko, Inc.

Q4 net sales $273.1M (down 7.0% YoY); gross margin 40.9%; adjusted EBITDA $23.3M.
Full year 2025 net sales $908.2M (down 13.5% YoY); net loss $67.4M vs $14.7M loss in 2024.
Adjusted EBITDA for 2025 was $26.6M, down from $94.7M in 2024.
FY 2026 outlook: net sales flat to up 3%, gross margin ~41-43%, adjusted EBITDA $70-80M.
Inventory reduced to $83.1M; $16M debt paid in Q4; credit agreement amended, maturity extended to Dec 2027.

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