Welcome to our dedicated page for Funko news (Ticker: FNKO), a resource for investors and traders seeking the latest updates and insights on Funko stock.
Funko, Inc. (FNKO) is a leading provider of pop culture consumer products, known for its distinctive and playful designs. Founded in 1998, Funko has grown substantially since its acquisition by the current CEO in 2005. The company’s products, including the wildly popular Pop! Vinyl figures, are recognized globally and are based on licensing agreements with top creators in the entertainment industry. This allows Funko to create products that resonate deeply with fans of movies, TV shows, video games, musicians, and sports teams.
Funko's product lineup extends beyond figures to include fashion accessories, apparel, plush products, homewares, and even non-fungible tokens (NFTs). The company effectively targets a diverse consumer base, from children to adults, through a wide range of retail channels, including mass market and specialty retailers, bookstores, department stores, online platforms, convenience stores, hobby shops, and mall outlets. Importantly, no single customer accounts for more than 10% of Funko's annual sales, which demonstrates a well-distributed revenue stream.
With a continuously expanding library of licenses, Funko can offer a broad array of products at various price points, making it accessible to different segments of pop culture enthusiasts. The company’s extensive reach and product diversity have cemented its position as a significant player in the global consumer products market.
Recent achievements include innovative product launches and strategic partnerships that have further solidified Funko’s market presence. Financially, Funko continues to display robust performance, backed by its diverse product lines and loyal customer base. For the latest news and updates on Funko, visit their official website or follow their social media channels.
Funko (NASDAQ: FNKO) has joined How2Recycle, marking a commitment to sustainability by featuring the How2Recycle label on its Pop! vinyl products. This label informs consumers about the recyclability of packaging, stating that outer cardboard boxes can typically be recycled curbside in the U.S. Funko's President, Andrew Perlmutter, expressed pride in this initiative, aimed at educating fans on proper recycling practices for a healthier planet. The How2Recycle label standardizes recycling instructions across packaging types, promoting broader consumer awareness.
Funko, Inc. (Nasdaq: FNKO), a leading consumer products company, will present at the Jefferies Virtual Global Interactive Entertainment Conference on November 11-12, 2021. Deirdre Cross, Vice President of Funko Games, will engage in a fireside chat with Jefferies analyst Stephanie Wissink on November 11 at 2:15 p.m. Eastern time. The presentation will be webcast and accessible via Funko's investor relations website. Participants are advised to log in 10 minutes prior to the session, and a replay will be available after the event.
Funko reported a robust third quarter for 2021, with net sales increasing 40.0% year-over-year to $267.7 million. The net income grew 17.8% to $18.4 million, but margins declined slightly due to rising freight costs. The company experienced strong performance across all geographies, particularly in Europe, where sales rose 65.7%. Direct-to-consumer sales surged 88%, marking a significant shift in sales strategy. Looking ahead, Funko forecasts net sales between $950 million and $975 million for the year.
Funko, Inc. (NASDAQ: FNKO) has announced a conference call to discuss its financial results for the third quarter ending on September 30, 2021. The call is scheduled for Thursday, November 4, 2021, at 4:30 p.m. ET. Investors can access the call via the Funko investor relations website, where a recording will also be available afterward. Funko is recognized for its diverse range of pop culture consumer products including vinyl figures, action toys, and apparel.
Funko, a leader in pop culture products, announces a collaboration with Macy’s and Lucasfilm to feature a Grogu-themed balloon in the 2021 Macy’s Thanksgiving Day Parade on November 25. This giant balloon, measuring 41-feet high and inspired by Funko's Pop! figure, aims to captivate fans of the Star Wars series. A limited-edition product line will be available for purchase on Funko.com, along with select items at Macy’s Herald Square, generating excitement around the parade and enhancing Funko's market presence.
Funko, a pop culture consumer products company, has announced its expansion into the holiday market with new Pop!-inspired Hallmark ornaments and wrapping paper, available exclusively at Walmart. This collection includes beloved characters from movies, TV, and comics, aiming to enhance holiday celebrations. Funko, known for its innovative products, will also introduce advent calendars, games, and mugs to its holiday lineup. The ornaments, available for pre-order, reflect Funko's commitment to delighting fans and engaging new customers this season.
Funko, Inc. (Nasdaq: FNKO) announced an executive leadership transition to enhance long-term growth. Andrew Perlmutter, currently President, is set to become CEO, while Brian Mariotti will transition to Chief Creative Officer, effective January 3, 2022. This change aims to leverage Mariotti's creative strengths while allowing Perlmutter to focus on strategic operations. With a deep background in collectibles, Perlmutter is expected to lead the company’s growth strategy, focusing on product diversification, direct-to-consumer channels, and international expansion.
Funko reported impressive financial results for Q2 2021 with net sales soaring 141% year-over-year to $236.1 million. Gross margin improved to 39%, while net income surged to $20.9 million, marking a significant recovery from a net loss in Q2 2020. The company witnessed broad-based strength in all regions, particularly in the U.S. and Europe, where sales grew 110% and 393%, respectively. Funko's direct-to-consumer sales jumped over 190%. For 2021, the company anticipates net sales between $900 million and $930 million.
Funko (Nasdaq: FNKO) has launched a new philanthropic initiative called Pops! With Purpose, aiming to connect Funko Pop! characters with meaningful causes. This program will debut at FunKon 2021 with an auction and will feature a diverse product assortment in the coming year, collaborating with organizations such as Make-A-Wish and It Gets Better Project. Funko has a track record of community engagement through its Funko Cares program, having donated significantly since its inception in 2018.
Funko, Inc. (Nasdaq: FNKO) announced a conference call scheduled for August 5, 2021, at 4:30 p.m. ET to discuss its financial results for the second quarter ended June 30, 2021. The call will be available via webcast on the company's investor relations website. Funko is known for its wide array of licensed pop culture products, including vinyl figures and toys, aimed at consumers who love engaging with their favorite brands.
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