Funko показала рекордную прибыль во втором квартале благодаря росту в Европе и оптимизации ассортимента

Funko delivered a positive second quarter, with management attributing the results to broad-based growth across geographies and product categories. CEO Josh Simon emphasized the impact of the company's 'make culture pop' strategy, which is now transitioning from concept to tangible execution. Notably, core collectibles experienced robust demand, and the European market stood out with nearly 20% sales growth. Management also highlighted the improved efficiency in SKU management, particularly within Loungefly, as a key contributor to the company's operational improvement. CFO Yves Le Pendeven cited both higher SKU productivity and improved gross margin performance, underscoring a disciplined focus on cost structure and inventory health. Is now the time to buy FNKO? Find out in our full research report (it's free). Funko (FNKO) Q2 CY2026 Highlights: - Revenue: $207.7 million vs analyst estimates of $200.2 million (7.4% year-on-year growth, 3.7% beat) - Adjusted EPS: $0.26 vs analyst estimates of -$0.19 (significant beat) - Adjusted EBITDA: $40.9 million vs analyst estimates of $7.60 million (19.7% margin, significant beat) - EBITDA guidance for the full year is $105 million at the midpoint, above analyst estimates of $77.6 million - Operating Margin: 10.7%, up from -18% in the same quarter last year - Market Capitalization: $331.5 million While we enjoy listening to the management's commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Our Top 5 Analyst Questions From Funko's Q2 Earnings Call - Eric Christian Wold (Texas Capital): Asked about wholesale order demand for Q3 and the holiday season. CFO Yves Le Pendeven replied that order visibility has normalized, with healthy inventory and strong point-of-sale trends indicating solid underlying demand. - Eric Christian Wold (Texas Capital): Inquired about shelf space allocation among major retail partners. CEO Josh Simon highlighted incremental displays at Smith's and Walmart, and noted branded activations with Sony and Disney are boosting in-store visibility. - Keegan Tierney Cox (DA Davidson): Asked which franchises drove strongest demand and the outlook for the second half. Simon responded that momentum is broad-based, with anime, gaming, and key film releases like Spider-Man: Brand New Day and Avengers: Doomsday expected to sustain growth. - Keegan Tierney Cox (DA Davidson): Questioned assumptions behind guidance and risks from rising input costs. Le Pendeven said upside depends on continued sell-through and consumer resilience, while tariffs and freight costs could create downside pressure. - Stephen Laszczyk (Goldman Sachs): Queried the revenue potential of new formats like Pop! Mystery and Bitty Pop! Simon emphasized platform potential across IPs and regions, with initial consumer response and licensor support encouraging but too early to quantify full impact.