NASDAQ$FNKO

Funko Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Funko's Q4 2020 sales increased by 6% to $227 million, driven by growth in the United States and strength in Loungefly branded products.

Funko reported a strong fourth quarter with a 6% increase in net sales to $226.5 million. The company saw significant growth in the U.S. and its Loungefly brand, contributing to an increase in net income and adjusted EBITDA.

  • Net sales increased 6% to $226.5 million.
  • U.S. net sales increased 18% to $171 million.
  • Net income increased $21.2 million to $14.9 million.
  • Adjusted EBITDA increased 29% to $33.2 million.

Headline financials

Total Revenue

$227M

Previous: $214M+6.1%
EPS (adj)

$0.29

Previous: $0.18+61.1%
Gross Margin

37.2%

Previous: 29.2%+27.4%
Adjusted EBITDA Margin

14.7%

Previous: 12.0%+22.5%
Capital Expenditures

$3.78M

Previous: $15.1M-75.0%
Free Cash Flow

$43.1M

Previous: $12.7M+240.3%
Net Income

$14.9M

Previous: -$6.3M+336.5%
Operating Income

$20.2M

Previous: -$5.84M+445.3%
Gross Profit

$84.2M

Previous: $62.4M+34.9%
Cash & Equivalents

$52.3M

Previous: $25M+109.0%
Total Assets

$764M

Previous: $796M-4.1%
Stock-Based Comp

$2.62M

Previous: $3.21M-18.4%

Revenue & EPS history

Funko · Revenue · Quarterly

$227M

Q4 2020+6.1%vs Q4 2019
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Funko · $227M total across 3 segments · Q4 2020

  • Core Collectible
    $170M
  • Loungefly
    $31.6M
  • Other
    $25.5M-41.2%

Forward guidance

The Company expects net sales growth of 25% to 30% for the full year 2021.

Tailwinds

  • Net sales growth of 25% to 30%
  • Adjusted EBITDA margin of 13.5% to 14.0%
  • Adjusted Net Income of $44 million to $51 million
  • Blended tax rate of 25%
  • Adjusted Earnings per Diluted Share of $0.84 per share to $0.96 per share

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 Q4 2020

Historical avgQ4 2020

+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

Earnings price reactions
QuarterReport dateReaction (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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