Press release
Funko Reports Fourth Quarter 2021 and Fiscal 2021 Financial Results and Introduces Outlook for Fiscal 2022
Net sales increased 48% year-over-year in the fourth quarter 2021 to a record of $336.3 million and increased 58% for the full fiscal year to $1.029 billion
About this update from Funko, Inc.
[{"type":"text","content":"\nNet sales increased 48% year-over-year in the fourth quarter 2021 to a record of $336.3 million and increased 58% for the full fiscal year to $1.029 billion\n\n~\n\nFor the full fiscal year 2022, the Company anticipates net sales growth of 20% to 25%, Adjusted net income of $95.8 to $104.8 million and adjusted EPS of $1.75 to $1.91\n\n EVERETT, Wash.--(BUSINESS WIRE)--\nFunko, Inc. (\"Funko,” or the “Company”) (Nasdaq: FNKO), a leading pop culture lifestyle brand, today reported its consolidated financial results for the fourth quarter and fiscal year ended December 31, 2021. The Company also introduced financial guidance for the full fiscal year 2022.\n\nFourth Quarter 2021 Financial Highlights (Compared to Fourth Quarter 2020)\n\n\nNet sales increased 48% to $336.3 million\n\n\nNet income increased 17% to $17.4 million\n\n\nAdjusted EBITDA1 increased 17% to $38.9 million\n\n\nGAAP earnings per diluted share of $0.28\n\n\nAdjusted earnings per diluted share of $0.38\n\n\nFiscal Year 2021 Financial Highlights (Compared to Full Fiscal Year 2020)\n\n\nNet sales increased 58% to $1.029 billion\n\n\nNet income increased 595% to $67.9 million\n\n\nAdjusted EBITDA1 increased 87% to $149.9 million\n\n\nNet income margin expanded 510 basis points to 6.6%\n\n\nAdjusted EBITDA margin1 expanded 230 basis points to 14.6%\n\n\nGAAP earnings per diluted share of $1.08\n\n\nAdjusted earnings per diluted share of $1.42\n\n\nTotal liquidity2 increased 44% to $183.6 million compared to prior year\n\n\n“We are thrilled to cap off the year with another exceptionally strong performance during the fourth quarter, enabling us to reach a milestone of more than $1 billion in annual sales. Perhaps most encouraging is that our performance remains broad-based with growth in all channels, geographies and brand categories,” said Andrew Perlmutter, Chief Executive Officer. “We continue to execute against our key growth pillars designed to drive both product growth and channel expansion, including both direct-to-consumer and in international markets. As we look to the remainder of fiscal 2022, we are pleased to be entering the year with strong momentum and more excited than ever about our growth prospects.”\n\nFourth Quarter 2021 Achievements\n\n\nNet sales increased 48% to $336.3 million in the fourth quarter of 2021 compared to $226.5 million in the fourth...