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) announced that its popular Summer Virtual Con, FunKon, will be hosted in Hollywood, featuring both virtual and in-person experiences. The three-day event includes celebrity appearances, exclusive content, and giveaways. CEO Brian Mariotti highlighted the success of previous virtual events, emphasizing the event's dual format as a way to engage fans. FunKon will also introduce a philanthropic initiative called Pops! With Purpose™. Fans can participate in exclusive activities, including the return of the competitive event Fundays.
Panini America and Funko, Inc. (FNKO) announced a collaboration to launch a new collectible product line called Funko Pop! Trading Card, debuting later this year. This line will feature notable NBA and NFL players, coinciding with the holiday shopping season. The trading cards will utilize Panini's well-known Prizm brand, displaying player imagery in a unique protective case that can be hung. Both companies express optimism about the partnership, which aims to blend their collector bases and enhance the fan experience.
Funko (Nasdaq: FNKO) reported strong financial results for Q1 2021, with net sales rising 38% to $189.2 million, driven by significant demand in the U.S. and Europe. Gross margin expanded to 41.4%, and net income increased to $11.1 million. Adjusted EBITDA rose to $29.8 million, with a margin of 15.7%. Direct-to-consumer sales soared over 160%, and the acquisition of a majority stake in TokenWave marks a strategic entry into the NFT market. Funko aims for continued growth, projecting 33% to 38% topline growth for 2021.
Funko, Inc. (Nasdaq: FNKO) announced a conference call on May 6, 2021, at 4:30 p.m. ET to discuss its financial results for Q1 2021, ending March 31, 2021. This call will be available via webcast on the investor relations section of Funko's website. Funko specializes in pop culture consumer products, designing and distributing licensed items like vinyl figures, board games, and apparel, catering to fans of various brands and characters.
Funko, Inc. (Nasdaq: FNKO) has acquired a majority stake in TokenWave, LLC, the creator of TokenHead, an app for tracking NFTs, with over 10 million NFTs displayed and more than 100,000 daily visits. This investment marks Funko's entry into the NFT market, planning to launch initial NFT offerings in June, starting at $9.99, on the WAX platform. CEO Brian Mariotti expressed excitement about leveraging Funko's licensing portfolio across various pop culture content to enhance digital asset offerings, aiming to combine digital and physical collectibles, potentially transforming the NFT market.
Funko, Inc. (FNKO) reported strong financial results for Q4 2020, with net sales rising 6% to $226.5 million. U.S. sales surged 18% to $171 million, marking a record quarter. Gross margin improved to 37.2%, and net income reached $14.9 million, up from a loss of $6.3 million in Q4 2019. The company expects a revenue growth of 25% to 30% for 2021, driven by its direct-to-consumer strategy and new product launches.
Funko (NASDAQ: FNKO) announced its Funko EMEA division received the prestigious ‘Licensee of the Year’ award at the 2021 Licensing International France Awards, recognizing its significant impact in the French market, the second largest in Europe for the company.
Additionally, Funko EMEA was acknowledged in the ‘Best Promotion or Event’ category for its collaboration with Warner Bros. Consumer Products on a prominent activation. Managing Director Andy Oddie expressed gratitude for the recognition, attributing it to Funko's substantial investments in the region.
Funko, Inc. (Nasdaq: FNKO) announced a conference call scheduled for March 11, 2021, at 4:30 p.m. ET to discuss its financial results for the fourth quarter and the fiscal year ended December 31, 2020. The call will be available via webcast on the investor relations section of Funko's website, where a recording will also be accessible post-call.
Funko, based in Everett, Washington, specializes in licensed pop culture products, including vinyl figures, action toys, and apparel.
Funko has partnered with ChizComm Beacon Media to promote its new toy line, Snapsies, across multiple media platforms. This agreement encompasses linear, digital, VOD, OTT, influencer, search, and social media efforts, including Funko's new @originalfunkokids channels on YouTube and Instagram. CEO Harold Chizick expressed pride in being selected to help Funko diversify its portfolio into toys, emphasizing the connection with kids and families as a key focus. Funko continues to design and distribute a wide range of pop culture products.
Funko, Inc. (Nasdaq: FNKO) is launching its inaugural Funko Fair, a two-week virtual event starting January 19, 2021, showcasing new products. CEO Brian Mariotti emphasized the event as an opportunity to engage fans with innovative pop culture merchandise. Notable licensors such as Warner Bros., The Pokémon Company, and Disney will participate. The event will be broadcasted through Funko’s social media channels, enhancing customer interaction and providing insights into upcoming product launches.
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