NASDAQ$FNKO
Funko Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Funko's Q4 2022 results were impacted by operational issues, but strong consumer demand continued.
Funko reported a decrease in net sales by 1% to $333.0 million and a significant decrease in net income, which fell 368% to $(46.7) million. The company faced challenges with operational issues, but saw strong direct-to-consumer growth of 37%.
- Net sales decreased by 1% to $333.0 million compared to Q4 2021.
- Net income decreased 368% to $(46.7) million.
- Adjusted EBITDA decreased 116% to $(6.3) million.
- Gross margin decreased to 28.3% due to storage and container rental charges.
Headline financials
Revenue & EPS history
Funko · Revenue · Quarterly
$333M
Revenue by segment
Funko · $333M total across 3 segments · Q4 2022
- Core Collectible$244M-4.3%73.3%
- Loungefly$70.7M—21.2%
- Other$18.2M-77.6%5.5%
Forward guidance
Funko is focused on identifying and addressing opportunities for improvement, expecting sequential improvement throughout the year as initiatives take hold. For Q1 2023, the company anticipates revenue between $225 million and $255 million, and an adjusted EBITDA between $(50) million and $(45) million, returning to positive territory in the second half of 2023.
Tailwinds
- Gross margin is expected to improve sequentially throughout the year.
- SG&A is expected to be sequentially lower from the fourth quarter of 2022 by approximately $25 million at the midpoint of the revenue range.
- Returning to positive Adjusted EBITDA territory in the second half of 2023.
- Focus on gross margin opportunities.
- Focus on fulfillment costs.
Headwinds
- Revenue of between $225 million and $255 million for Q1 2023.
- Excluding an anticipated inventory write down, gross margin is expected to be in line to slightly below the fourth quarter of 2022.
- Adjusted EBITDA of between $(50) million and $(45) million for Q1 2023.
- Adjusted Net Loss of $(53) to $(48) million for Q1 2023.
- Adjusted loss per diluted share of $(1.00) to $(0.90) for Q1 2023.
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 2022
+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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