Funko 2018 sales soar by a third

Licensed collectables specialist grew gross profit by 30 per cent for the full year, with fourth quarter far outperforming expectations

Written by Rhys Thomas

Posted 01.03.2019 | Toys

Funko 2018 sales soar by a third thumbnail

Funko has smashed Wall Street predictions for the full year 2018, with net sales soaring by a third and gross profit increasing a phenomenal 30 per cent.

“Once again, Funko had a terrific quarter and full year, significantly exceeding our own expectations,” says Brian Mariotti, Funko’s CEO.

The pop-culture collectable company capped off the year with a tremendous fourth quarter. Net sales rocketed to $233.2 million in the final three months of last year, an increase of 38 per cent from the $169.5 million it made in the same period of 2017. Funko says the increase was driven by strong and balanced demand for the its products across a broader number of properties, allowing it to keep up with demand that outstripped its expectations.

“In order to better serve our retail customers and our fans, we consciously made in-quarter decisions to better meet the strong demand we saw for our products,” says Brian Maritotti. “Some of these decisions reduced our gross margin, but allowed us to enlarge our market and satisfy better-than-expected demand for our products.”

Looking to the coming year, Funko expects its graphs to continue upwards, with full-year net sales in the range of $810-825 million.

“For 2019, we expect our sales growth target to be 18 per cent to 20 per cent,” Brian adds, “as we see greater opportunities for growth, and we plan to continue to make investments to improve our operations and efficiencies over the longer term.”

Top image: Nasdaq
Quick Look: Thunderbirds Are Go thumbnail

Quick Look: Thunderbirds Are Go

All-new episodes, a brand-new toy line and exciting activations at events and on social media are rocketing ITVS GE’s hit ...

Level Up Licensing: BLE will demystify esports thumbnail

Level Up Licensing: BLE will demystify esports

Anna Knight, VP of Global Licensing Group, the organiser of next month's Brand Licensing Europe, digs into the show’s focus ...

ESM to develop transmedia content for Slugterra thumbnail

ESM to develop transmedia content for Slugterra

Epic Story Media working on live-action gameshow tied to VR experience, new Slugisodes shorts and collectable toys

Press Releases

Milkshake picks up Pirata & Capitan S2 thumbnail

Milkshake picks up Pirata & Capitan S2

UK kids’ block acquires second series of the Millimages pre-school animation after successful first run

Moorcroft is Chelsea’s Choice thumbnail

Moorcroft is Chelsea’s Choice

Moorcroft and RHS present the limited-edition vase Chelsea’s Choice, celebrating Chelsea Flower Show 18 Plant of the Year

Henson back catalogue hits Amazon thumbnail

Henson back catalogue hits Amazon

More than 100 days’ of The Jim Henson Company’s content including Fraggle Rock now streaming on Amazon Prime Video

Pingu cooks up creative competition thumbnail

Pingu cooks up creative competition

Readers of lifestyle mag Lettuce Club are tasked with inventing tasty Pingu-themed recipes