Q4 2024 Funko Inc Earnings Call Transcript
Key Points
- Funko Inc (FNKO) stabilized net sales at over $1 billion and achieved gross profit and adjusted EBITDA growth by more than $100 million in 2024.
- The company delivered $294 million in net sales for Q4 2024, reaching the top end of its guidance range and marking a year-over-year increase.
- Direct-to-consumer sales grew to 29% of overall sales, contributing to higher margins and providing valuable consumer insights.
- Funko Inc (FNKO) experienced significant growth in its core Collectibles business, with a 10% increase, and a 23% rise in sales outside the US.
- The company's Bitty Pop! line saw an impressive 83% year-over-year growth in Q4, reflecting strong consumer interest in miniature collectibles.
- Funko Inc (FNKO) faces challenges from 20% tariffs on imports from China, impacting approximately one-third of its global product purchases.
- The company is experiencing softening consumer behavior in the US market, affecting sales and consumer spending patterns.
- Funko Inc (FNKO) anticipates a decline in net sales and adjusted EBITDA in the first half of 2025 due to tariffs and weakening US consumer sentiment.
- There are disruptions at the Mexico-US border affecting the delivery times of Pop! Yourself products, leading to increased shipping costs.
- The company is navigating uncertainties related to tariffs and inflation, which could impact future financial performance.
Good afternoon, and welcome to Funko's 2024 fourth-quarter financial results conference call. (Operator Instructions) Please be advised that reproduction of this call in whole or in part, is not permitted without written authorization from the company. As a reminder, this call is being recorded.
I will now turn the call over to Funko's Director of Investor Relations, Rob Jaffe. Please proceed.
Hello, everyone, and thank you for joining us today to discuss Funko's 2024 fourth-quarter financial results. On the call are Cynthia Williams, our Chief Executive Officer; and Yves Le Pendeven, the company's Chief Financial Officer.
This call is being broadcast live at investor.funko.com. A playback will be available for at least one year on the company's website. I want to remind everyone that during the course of this call, management's discussion will include forward-looking information.
These statements represent our best judgment as of today about the company's future results and
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