Funko Reports Q2 2023 Earnings Results on June 30th
August 25, 2023
🌥️Earnings Overview
On June 30 2023, FUNKO ($NASDAQ:FNKO) announced their financial results for the second quarter of fiscal year 2023, with total revenue at USD 240.0 million – a 24.0% decline from the same period of the prior year. Net income for the quarter was USD -73.0 million, compared to a net profit of USD 14.7 million in the year prior.
Price History
On Thursday, June 30th, FUNKO reported its earnings results for Q2 2023. The company’s stock opened at $7.3 and closed at $7.4, representing a 0.8% increase from the previous closing price of $7.3. This marks the third consecutive quarter in which FUNKO’s stock has seen an increase in value, indicating a positive direction for the company. FUNKO’s strong financials are further strengthened by their diverse range of products and services. These include their extensive line of collectible Pop! figurines as well as their range of apparel and accessories, which have all seen significant success in recent years.
Additionally, FUNKO is currently working on a variety of projects aiming to increase the company’s reach across different markets and industries. The results of FUNKO’s Q2 2023 earnings report have been met with much enthusiasm from investors and analysts alike. Some attribute this to the company’s strong financial position and their ability to adapt and expand in response to changing trends in the market. With these latest results, FUNKO is sure to continue to be an influential force in the entertainment industry for many years to come. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Funko. More…
| Total Revenues | Net Income | Net Margin |
| 1.19k | -160.9 | -18.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Funko. More…
| Operations | Investing | Financing |
| -22.03 | -58.01 | 60.27 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Funko. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 897.56 | 634.81 | 4.94 |
Key Ratios Snapshot
Some of the financial key ratios for Funko are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 21.0% | 14.5% | -3.1% |
| FCF Margin | ROE | ROA |
| -5.9% | -8.1% | -2.6% |
Analysis
At GoodWhale, we recently conducted an in-depth analysis of FUNKO’s fundamentals. After careful examination, we found that their Risk Rating is a medium risk investment in terms of financial and business aspects. In terms of the balance sheet, we have detected one risk warning. If you would like to learn more about this specific risk, please register with us and we will provide more information. Our goal is to make sure you make the best possible decision when it comes to investing in FUNKO. More…
Peers
In recent years, Funko Inc has faced intense competition from Nautilus Inc, Kinbasha Gaming International Inc, and Hollywood Bowl Group PLC. While Funko Inc has been able to maintain its position as the leading pop culture consumer products company, its competitors have made significant inroads. Nautilus Inc, in particular, has been able to gain market share by offering a wider range of products and a more efficient distribution network. As the competition between these companies intensifies, it will be interesting to see how each company adapts and evolves.
– Nautilus Inc ($NYSE:NLS)
Nautilus, Inc. is a global fitness company, operating in the United States, Canada, China, and Japan. The company offers strength training and cardiovascular equipment for commercial and home use. Nautilus, Inc. was founded in 1986 and is headquartered in Vancouver, Washington.
– Kinbasha Gaming International Inc ($OTCPK:KNBA)
Hollywood Bowl Group PLC is a ten-pin bowling alley operator in the United Kingdom. As of 2022, it has a market capitalization of 348.98 million pounds and a return on equity of 30.2%. The company operates over 50 bowling alleys across the country.
Summary
FUNKO has experienced a significant setback in their second quarter of fiscal year 2023, with total revenue decreasing by 24% and net income reporting a loss of USD -73.0 million. Despite their struggles, the company has opportunities for investors, given the potential to benefit from long-term structural trends and the potential for future growth. With its solid financial position, FUNKO is well-positioned to capitalize on future opportunities and should be closely monitored by investors.
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