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Mar 31, 2021
Funko Q1 2021 Earnings Report
Funko's first quarter 2021 sales increased, driven by strong consumer demand in the U.S. and Europe, and the company raised its full year outlook.
Key Takeaways
Funko reported a record first quarter with net sales up 38% to $189.2 million. The increase reflects broad-based strength across geographies, products and channels. Improved consumer demand in the U.S. and Europe contributed to broad-based strength within brands, products and distribution channels, leading to a record first quarter.
Net sales increased 38% to $189.2 million.
Gross margin expanded 100 basis points to 41.4%.
Net income increased $16.8 million to $11.1 million.
Adjusted EBITDA margin expanded 790 basis points to 15.7%.
Funko
Funko
Funko Revenue by Segment
Funko Revenue by Geographic Location
Revenue by Segment
Core Collectible Revenue
CapyFin.comLoungefly Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comEurope Revenue
CapyFin.comOther International Revenue
CapyFin.com Forward Guidance
The Company expects net sales growth of 33% to 38%, Adjusted EBITDA margin of 14.0% to 14.5%, Adjusted Net Income of $52.5 million to $59.6 million, and Adjusted Earnings per Diluted Share of $0.98 to $1.12 for the full year 2021.
Positive Outlook
- Net sales growth of 33% to 38%
- Adjusted EBITDA margin of 14.0% to 14.5%
- Adjusted Net Income of $52.5 million to $59.6 million
- Adjusted Earnings per Diluted Share of $0.98 to $1.12
- Based on estimated adjusted average diluted shares outstanding of 53.3 million for the full year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income