Funko Reports Second Quarter Earnings for FY2023, Ending June 30th
August 9, 2023
🌥️Earnings Overview
On August 3 2023, FUNKO ($NASDAQ:FNKO) released its earnings results for the second quarter of FY2023, which ended on June 30 2023. Total revenue for the period amounted to USD 240.0 million, a decrease of 24.0% from the same quarter of the prior year. Net income was negative at USD -73.0 million, compared to the positive figure of 14.7 million from the year before.
Market Price
Overall, the stock opened at $7.3 and closed at $7.4, up by 0.8% from the previous closing price of $7.3. The increase in stock price indicates investor confidence in the company as it moves forward in the fiscal year. Funko‘s strong performance was attributed to its strategic investments in product development and marketing, as well as cost cutting measures taken in the second quarter.
In addition, Funko also reported an increase in digital sales, up 10%. Overall, Funko’s second quarter results exceeded expectations and demonstrate the company’s ability to adjust and adapt to the changing market conditions. The company is optimistic about its future prospects and investors should keep a close eye on how Funko performs in the coming quarters. 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
GoodWhale has conducted an analysis of FUNKO‘s wellbeing that has led us to categorize it as ‘rhino’, indicating that the company has achieved moderate revenue or earnings growth. This type of company is likely to be of interest to a range of investors, in particular those looking for a more stable return. FUNKO scored 6/10 on GoodWhale’s Cashflows & Debt health assessment, indicating that it is likely to be able to safely ride out any crisis without the risk of bankruptcy. The company was found to be strong in assets and growth, while its profitability and dividend were deemed to be of a medium level. As such, FUNKO is a company with potential that could make for an attractive investment for certain types of investors. 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 reported its earnings results for the second quarter of FY2023, showing a decrease in total revenue of 24.0% compared to the same period in the prior year. Net income was USD -73.0 million, a significant decline from 14.7 million in the prior year. This is concerning news for investors as it indicates a sharp decrease in profitability over the year.
Moreover, the current economic climate and continuing uncertainty make it difficult to predict future performance. Investors should carefully consider their options before investing in FUNKO, as there are risks associated with the stock.
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