NASDAQ$FNKO
Funko Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Funko reported solid financial results, with net sales at the top end of guidance and better-than-expected profitability due to improved gross margins.
Funko reported Q3 2024 financial results with net sales of $292.8 million and net income of $4.6 million. The company updated its full-year 2024 outlook, expecting net sales to be at the low end to slightly below the previous range and raising the full-year outlook for Adjusted EBITDA to above the high end of the range.
- Net sales were $292.8 million, compared to $312.9 million in the prior year.
- Gross profit was $119.8 million, with a gross margin of 40.9%, compared to $104.0 million with a gross margin of 33.2% in the prior year.
- Net income was $4.6 million, or $0.08 per diluted share, compared to a net loss of $16.2 million, or $0.31 per share in the prior year.
- Adjusted EBITDA was $31.0 million, compared to $25.4 million in the prior year.
Headline financials
Revenue & EPS history
Funko · Revenue · Quarterly
$293M
Revenue by segment
Funko · $313M total across 3 segments · Q3 2023
- Core Collectible$233M-17.4%74.5%
- Loungefly$57.4M-3.6%18.4%
- Other$22.2M-5.9%7.1%
Forward guidance
Funko provided guidance for its 2024 fourth quarter, including net sales between $280 million and $294 million, gross margin between 38% and 40%, and adjusted EBITDA between $17 million and $22 million. The company lowered the range for net sales and raised the range for adjusted EBITDA for full year 2024.
Tailwinds
- Gross margin %: 38% to 40%
- Adjusted net income (loss)*: ($3) million to $1 million
Headwinds
- Net sales: $280 million to $294 million
- SG&A expense, in dollars: $93 million to $99 million
- Adjusted net income (loss) per diluted share*: ($0.05) to $0.02
- Adjusted EBITDA*: $17 million to $22 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
+0.2%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+4.2%
Avg return
30 days after
56%
19 / 34 earnings
Positive
+25.1%
Q1 2020
Best reaction
-59.2%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.6% | +26.3% | +16.2% | |
| Q4 2025 | -4.0% | -18.6% | -15.3% | |
| Q3 2025 | +10.3% | +22.2% | -0.3% | |
| Q1 2025 | -16.5% | +11.7% | +14.5% | |
| Q4 2024 | -13.5% | -28.8% | -49.3% | |
| Q3 2024 | -3.4% | -9.2% | +0.9% | |
| Q2 2024 | +11.7% | +11.0% | +11.6% | |
| Q1 2024 | +8.9% | +28.2% | +43.5% | |
| Q4 2023 | +7.0% | -0.8% | -10.6% | |
| Q3 2023 | +22.1% | +9.6% | -5.0% | |
| Q2 2023 | -13.2% | -12.7% | -4.4% | |
| Q1 2023 | +15.0% | +13.5% | +27.4% | |
| Q4 2022 | -8.0% | -9.6% | -12.8% | |
| Q3 2022 | -59.2% | -47.1% | -45.8% | |
| Q2 2022 | -19.2% | -22.0% | -23.1% | |
| Q1 2022 | +19.5% | +8.9% | +21.7% | |
| Q4 2021 | +9.5% | -4.0% | -1.6% | |
| Q3 2021 | +10.8% | +8.1% | -7.6% | |
| Q2 2021 | -3.3% | -5.0% | -0.5% | |
| Q1 2021 | +19.1% | +9.5% | +10.2% | |
| Q4 2020 | +23.0% | +24.3% | +58.0% | |
| Q3 2020 | -9.4% | +12.0% | +63.2% | |
| Q2 2020 | -4.8% | +2.9% | +2.6% | |
| Q1 2020 | +25.1% | +18.4% | +88.1% | |
| Q4 2019 | -8.1% | -17.5% | -57.8% | |
| Q3 2019 | -12.7% | -16.1% | -18.0% | |
| Q2 2019 | +10.0% | +9.1% | +8.1% | |
| Q1 2019 | +3.4% | +9.7% | +4.6% | |
| Q4 2018 | +3.8% | -6.7% | +7.8% | |
| Q3 2018 | -25.3% | -25.7% | -31.5% | |
| Q2 2018 | +8.5% | +7.3% | +50.3% | |
| Q1 2018 | +2.5% | +3.5% | +28.4% | |
| Q4 2017 | +7.1% | +13.0% | +3.4% | |
| Q3 2017 | -10.7% | -17.2% | -34.7% | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — |
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