Profits at Funko continued on an upward trajectory in the second quarter, climbing 35 per cent to $71.2m during the three months ending 30 June.
Driven by a larger number of active properties and solid business in all, net sales increased 38 per cent to $191.2 million from $138.7 million in the same period last year. The licensee currently has 592 active properties, compared with 510 last year.
On a product category basis, net sales of figures, Funko’s bread and butter, increased 39 per cent to $159.7 million, while sales in its growing list of other categories, including softlines from the Loungefly fashion accessories brand, increased 30 per cent to $31.5 million.
While sales in Funko’s domestic US market were up by a quarter to $123m, it was overseas where the company made real gains. Net sales internationally increased 65 per cent to 68m, with strong growth across all regions.
“Funko once again delivered very strong results in the second quarter,” says Brian Mariotti, Funko’s CEO. “We believe these results and our continued opportunities for growth demonstrate that the world is increasingly viewing pop culture through the lens of Funko.
“Funko has become a solid entertainment content platform, and our brand continues to grow in awareness and popularity around the world. This unique position enables us to develop new and increasingly profitable sources of revenue that we expect will propel continued growth for many years to come.
“Our strong results in the first half of 2019 have allowed us to increase our guidance for the full year. More importantly, the growing range of opportunities for revenue growth, international expansion and entry into new categories make us confident that our best days lie ahead, and that our fans, partners, employees and shareholders can look forward to the future.”