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Funko Reports Strong First Quarter 2026 Financial Results; Reiterates 2026 Full-Year Outlook

FNKO
  • Funko, Inc. reported Q1 2026 net sales of $200.9 million, a 5% increase from $190.7 million in Q1 2025.
  • Gross margin reached a record 44.2% ($88.8 million gross profit), up from 40.3% ($76.9 million) in the prior year period.
  • Net loss for the quarter was $18.1 million ($0.33 per share), an improvement from $28.1 million ($0.52 per share) in Q1 2025.
  • Adjusted net loss was $6.3 million ($0.11 per share), compared to $17.8 million ($0.33 per share) in the prior year.
  • Adjusted EBITDA was positive $11.3 million, reversing a negative $4.7 million adjusted EBITDA in Q1 2025.
  • Core Collectibles sales grew 17% year-over-year to $168.8 million, while Loungefly sales declined 23% to $27.2 million.
  • International sales were robust, with Europe revenue increasing 25.6% to $68.1 million, while U.S. sales dipped 3.7% to $117.4 million.
  • Cash and cash equivalents decreased to $34.3 million at March 31, 2026, from $42.1 million at December 31, 2025.
  • Inventories reduced to $76.8 million from $83.1 million, while total debt fell to $215.9 million from $225.3 million.
  • The company reiterated its full-year 2026 outlook expecting net sales flat to up 3% vs 2025, gross margin of ~41-43%, and adjusted EBITDA of $70-$80 million.
  • Q2 2026 guidance projects net sales of $195-$205 million, gross margin of ~42-44%, and adjusted EBITDA of $5-$10 million.