Funko Q2 2021 Earnings Report
Key Takeaways
Funko's Q2 2021 net sales increased by 141% year-over-year to $236.1 million. The company saw broad-based strength across all geographies, products, and channels, with significant growth in the U.S. and Europe. Net income also increased significantly to $20.9 million, and adjusted EBITDA reached $41.1 million.
Net sales increased 141% year-over-year to $236.1 million.
Gross margin expanded 250 basis points year-over-year to 39%.
Net income increased $36.0 million year-over-year to $20.9 million.
Adjusted EBITDA increased $40.8 million year-over-year to $41.1 million.
Funko
Funko
Funko Revenue by Segment
Funko Revenue by Geographic Location
Forward Guidance
In 2021, the Company expects net sales of $900 million to $930 million; Adjusted EBITDA margin of 14.0% to 14.5%; Adjusted Net Income of $57.4 million to $64.2 million, based on a blended tax rate of 25%; and Adjusted Earnings per Diluted Share of $1.06 to $1.19, based on estimated adjusted average diluted shares outstanding of 54 million for the full year.
Positive Outlook
- Net sales of $900 million to $930 million
- Adjusted EBITDA margin of 14.0% to 14.5%
- Adjusted Net Income of $57.4 million to $64.2 million
- Blended tax rate of 25%
- Adjusted Earnings per Diluted Share of $1.06 to $1.19