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.
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.
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