Funko (FNKO) Tops Q3 Revenue Estimates

Funko (NASDAQ: FNKO) reported Q3 revenue of $142.8 million versus the consensus estimate of $142.62 million.

Third Quarter 2017 Highlights

• Net sales increased 21.0% to $142.8 million, driven in part by a 26.6% increase in the number of active properties;
• Gross margin(1) increased 170 basis points to 40.9% and benefited primarily from higher product margins in Europe;
• Selling, general, and administrative (SG&A) expenses increased 73.9% to $32.5 million and was driven by additional expenses related to the continued growth in the business as well as recent strategic acquisitions and investments in key areas such as Europe and our digital and direct to consumer initiatives;
• Net income was $8.3 million versus $17.2 million in the third quarter of 2016;
• EBITDA(2) was $25.8 million versus $27.4 million in the third quarter of 2016; and
• Adjusted EBITDA(2) was $27.0 million versus $31.0 million in the third quarter of 2016.

For earnings history and earnings-related data on Funko (FNKO) click here.

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