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FNKO

Funko, Inc.

FNKO

Funko, Inc. • NASDAQ
$3.16 ▲ 2.27% (+0.07)
Market Cap $172.90 M
52w High $14.65
52w Low $2.22
Dividend Yield 0%
P/E -2.51
Volume 182.69K
Outstanding Shares 54.72M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $250.905M ▲ $94.323M ▲ $901K ▲ 0.359% ▲ $0.02 ▲ $22.316M ▲
Q2-2025 $193.469M ▲ $82.259M ▼ $-40.49M ▼ -20.928% ▼ $-0.74 ▼ $-21.106M ▼
Q1-2025 $190.739M ▼ $100.069M ▼ $-27.588M ▼ -14.464% ▼ $-0.52 ▼ $-8.104M ▼
Q4-2024 $293.729M ▲ $118.978M ▲ $-1.5M ▼ -0.511% ▼ $-0.028 ▼ $23.692M ▼
Q3-2024 $292.765M $108.073M $4.33M 1.479% $0.082 $27.434M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $39.177M ▼ $699.271M ▲ $515.658M ▲ $182.684M ▲
Q2-2025 $49.151M ▲ $694.909M ▲ $512.832M ▲ $181.169M ▼
Q1-2025 $25.934M ▼ $648.401M ▼ $434.246M ▼ $212.8M ▼
Q4-2024 $34.655M ▲ $707.254M ▼ $470.901M ▼ $233.019M ▼
Q3-2024 $28.546M $783.574M $543.142M $236.508M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $948K ▲ $11.236M ▲ $-7.781M ▲ $-15.815M ▼ $-9.974M ▼ $3.383M ▲
Q2-2025 $-41.004M ▼ $-22.18M ▲ $-8.882M ▼ $54.333M ▲ $23.217M ▲ $-31.839M ▼
Q1-2025 $-27.588M ▼ $-22.262M ▼ $-6.359M ▲ $19.33M ▲ $-8.721M ▼ $-28.814M ▼
Q4-2024 $-1.42M ▼ $59.782M ▲ $-11.841M ▼ $-40.667M ▼ $6.109M ▲ $47.787M ▲
Q3-2024 $4.597M $3.347M $-7.398M $-9.29M $-13.005M $-4.188M

Five-Year Company Overview

Income Statement

Income Statement Funko’s sales climbed strongly through the pandemic period but then cooled after their 2022 peak. Revenue is still well above pre‑pandemic levels, but the company has not turned that into consistent profits. Gross profit margins dipped meaningfully in 2023 but bounced back in 2024, suggesting some success in cleaning up pricing, mix, and costs. Even so, operating profit is very thin, and net results have hovered around break‑even or small losses in recent years. In simple terms: the company can sell a lot of product, but earnings are volatile and still fragile. The recent trend shows some repair in profitability, but the business remains sensitive to shifts in demand and costs.

Balance Sheet

Balance Sheet The balance sheet looks workable but not especially conservative. Total assets have come down from their peak, which likely reflects inventory and working capital being brought back in line after a heavy growth and overstock period. Debt is meaningful relative to the size of the business and to shareholders’ equity, so leverage is something to keep an eye on. Cash on hand is modest, which means the company does not have a big cushion and depends on ongoing cash generation and credit access. Overall, the financial foundation is adequate but not fortress‑like. It leaves less room for prolonged missteps or sharp downturns in demand.

Cash Flow

Cash Flow Cash flow tells a slightly better story than accounting earnings. After a weak year in 2022, cash generated from day‑to‑day operations has improved, with the last two years showing positive and strengthening cash inflows. Free cash flow has followed a similar path, helped by disciplined, relatively modest capital spending. This pattern suggests Funko has been tightening up its operations, managing inventories better, and being more careful with investment. While not spectacular, the cash profile has shifted from a drain to a source of support for the business.

Competitive Edge

Competitive Edge Funko has a distinctive place in pop‑culture collectibles. Its biggest strengths are its enormous library of licenses across movies, TV, gaming, sports, and more, plus the instantly recognizable Pop! design. These, combined with a very active fan community and strong presence both online and in key retailers, form a real competitive moat. The Loungefly and Mondo brands broaden its reach into fashion accessories and higher‑end collectibles, reinforcing the ecosystem. On the risk side, Funko is heavily tied to what is “hot” in entertainment at any moment and to the health of its licensing partners. The market is also crowded, with many brands and creators chasing fan dollars. The company needs to keep refreshing its offerings and managing retailer relationships carefully to maintain shelf space and relevance.

Innovation and R&D

Innovation and R&D Funko’s innovation is more about creative product and business model than traditional lab‑style R&D. The company’s fast design‑to‑shelf cycle is a key advantage, letting it react quickly to new shows, movies, and viral moments. Customization through Pop! Yourself deepens engagement and helps grow its direct‑to‑consumer channel. Experiments with digital collectibles, NFTs, and augmented reality show a willingness to test new formats, even if the long‑term payoff is uncertain. New product families like Bitty Pop! and continued expansion into video games, accessories, and international markets indicate an active pipeline of ideas. The opportunity is significant if these bets gain traction, but execution risk is high because fan tastes can shift quickly and not every innovation will stick.

Summary

Funko combines a powerful pop‑culture brand, deep licensing relationships, and a loyal fan base with a financial profile that has been choppy and still looks somewhat delicate. Sales are solid in scale but no longer surging, and profitability has been inconsistent, though recent margins and cash flow show some improvement. The balance sheet is serviceable but not especially cushioned, with noticeable leverage and limited cash. Strategically, the company’s position in collectibles is strong, supported by speed‑to‑market, customization, and a broad product universe. At the same time, it operates in a highly trend‑driven, discretionary category where hits and misses can rapidly change performance. Overall, Funko appears to be stabilizing after a rough patch, leaning on its brand and innovation engine. The key questions going forward are whether it can sustain healthier margins, keep cash flows positive, and successfully extend its pop‑culture appeal into new products, channels, and regions without overreaching.

NEWS

November 11, 2025 · 12:00 PM UTC

Funko's New Artist Collaborations “Premium Blind Box” Available Now

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November 6, 2025 · 4:05 PM UTC

Funko Reports Third Quarter 2025 Financial Results

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October 23, 2025 · 6:54 AM UTC

Funko to Host 2025 Third Quarter Financial Results Conference Call on Thursday, November 6, 2025

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