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Dec 31, 2024
Funko Q4 2024 Earnings Report
Funko reported a modest increase in Q4 2024 revenue, with improved margins and lower net losses.
Key Takeaways
Funko's Q4 2024 revenue reached $293.7 million, growing 1% year-over-year. The company achieved a gross profit of $124.4 million, with a gross margin of 42.4%. Net loss improved significantly to $1.5 million, compared to a $10.8 million loss in Q4 2023. Adjusted net income was $4.4 million, or $0.08 per diluted share. Strength in core collectibles and European sales contributed to the results, while Loungefly and other product categories declined.
Q4 2024 net sales grew 1% year-over-year to $293.7 million.
Gross profit increased to $124.4 million, with a 42.4% gross margin.
Net loss improved to $1.5 million, compared to a $10.8 million loss in Q4 2023.
Adjusted EBITDA rose to $26.3 million, surpassing expectations.
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
Funko expects measured revenue growth in 2025, with margin improvements and a focus on long-term diversification.
Positive Outlook
- FY 2025 net sales expected between $1.05B and $1.08B.
- Adjusted EBITDA projected between $80M and $100M.
- Continued expansion in sports, music, and gaming categories.
- DTC and EMEA sales momentum expected to continue.
- Ongoing cost discipline to support profitability.
Challenges Ahead
- Potential impact from 20% tariffs on Chinese imports.
- Q1 2025 adjusted net loss expected between $25M and $22M.
- Loungefly brand performance remains weak.
- Higher SG&A expenses could pressure operating margins.
- Competitive market dynamics may impact pricing strategy.
Revenue & Expenses
Visualization of income flow from segment revenue to net income