Slide 1: Q4 2025 Earnings
Q4 2025 EARNINGS March 12, 2026 Q4 EARNINGS | 2025 1
Slide 2: Presentation Disclosures
Presentation Disclosures This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements, i
Slide 3: Table of Contents
Disney Hercules Limited Edition POP! Hades (Pottery Deco) Table of Contents Executive Summary 4 Financial Summary 8 Brand Highlights 13 Appendix 18 Q4’25 EARNINGS | 3
Slide 4: Executive Summary
DC Superman 2025 POP! Superman Executive Summary Q4 EARNINGS | 2025 Q4’25 EARNINGS | 4
Slide 5: CEO Josh Simon quote
“We closed the year with two consecutive quarters of solid financial results. Our fourth quarter performance was driven by strong sales of entertainment properties, notably KPop Demon Hunters and Stranger Things, as well as our Bitty Pop! franchise and the launch of Pop! Yourself in Europe. "Looking
Slide 6: Executive Summary
Executive Summary Funko delivered better-than-expected Net Sales and Adjusted EBITDA and 1improved its Balance Sheet Net sales of $273M were above expectations, on strong sales of KPop Demon Hunters, Stranger Things, Bitty Pop!; launch of Pop! Yourself in Europe. 1 Adjusted EBITDA of $23M or 8.5
Slide 7: Make Culture POP!
MAKE CULTURE Turning pop culture into collectibles & collectibles into culture CULTURE CREATIVITY COMMERCE generates demand gives it form puts it in fans’ hands Being at the center of moments Creating products that are a Meeting fans everywhere they are, fans care about, while they’re canvas for ico
Slide 8: Financial Summary
Financial Summary Q4 EARNINGS | 2025 Q4’25 EARNINGS | 8
Slide 9: Q4'25 Results Above Guidance
Q4’25 Results Above Guidance Guidance Actual Commentary Q4 sales up modestly Q4 sales ($273M) Better-than-expected on strong sales of KPop Demon Hunters, Net sales vs. Q3 ($251M) were up 9% vs. Q3 Stranger Things, Bitty Pop!; launch of Pop! Yourself in Europe Gross margin ~40% 40.9% Slightly better-
Slide 10: Q4'25 Net Sales Bridge
Q4’25 Net Sales Bridge $294M $1M ($12M) $273M ($10M) ($273M) Q4-2024 Core Collectibles Loungefly Other Q4-2025 Core Collectibles: Net sales related to core collectibles declined $12M, primarily in the United States, reflecting the continued impact of tariff disruption and macroeconomic uncertainty.
Slide 11: Q4'25 Gross Margin Bridge
Q4’25 Gross Margin Bridge 3.7% -1.0% 1.4% 42.4% -4.1% 40.9% -1.4% Q4-2024 Channel & Improved Royalty minimum Duties & Inventory reserves Q4-2025 product sales product guarantee tariffs adjustments mix shift margins (1) shortfall (1) Product margin is equal to gross product sales less factory costs o
Slide 12: 2026 Outlook
2026 Outlook Q1’26 Full Year Commentary Guidance Guidance Core Pop! sales expected to grow high-single-digit Net sales %, offset by a double-digit % decrease in Loungefly Flat to down 2% Flat to up 3% (vs. LY) sales due to a significant reduction in less-profitable SKUs Gross margin ~41% to 43% ~41%
Slide 13: Brand Highlights
Brand Highlights Q4 EARNINGS | 2025 Q4’25 EARNINGS | 13
Slide 14: Top 10 Properties
Q4’25 41% Top 10 Properties of Q4 Net Sales 7% of Q4 Net Sales 1. 6. 2. 7. 3. 8. 4. 9. 5. 10. Q4’25 EARNINGS | 14
Slide 15: Topps – 2026 MLB Series One Baseball Super Box
Topps – 2026 MLB Series One Baseball Super Box Funko is collaborating with Topps Trading Cards on its 2026 MLB Series One Baseball SuperBox. The SuperBox, now being sold in Walmart, Target, GameStop, Dick's Sporting Goods, select Major League Baseball team retailers and others, includes a Bitty Pop!
Slide 16: Viral Hit of the Year
Viral Hit of the Year Embracing Pop Culture: By winning the 2026 Viral Hit of the Year award for KPop Demon Hunters, Funko remains a defining voice in the pop culture industry. Q4’25 EARNINGS|| 16 Q4’25EARNINGS
Slide 17: Bitty Pop! Expansion
Bitty Pop! Expansion In Q4’25, Bitty Pop! was officially introduced in the toy aisle of 1,800 Walmart stores, helping to expand and strengthen our relationship with a key wholesale partner. Q4’25 EARNINGS|| 17 Q4’25EARNINGS
Slide 18: Appendix
The Electric State POP! Cosmo Appendix Q4 EARNINGS | 2025 Q4’25 EARNINGS | 18
Slide 19: Q4'25 Financial Summary
Q4’25 Financial Summary Q4-2025 Q4-2024 Net sales $273.1 M $293.7 M Gross margin 40.9% 42.4% SG&A $90.9 M $102.8 M Adjusted net income1 $2.5 M $4.4 M Adj. EBITDA1 $23.3 M $26.3 M Adj. EBITDA margin1 8.5% 8.9% 1 Adjusted net income, adjusted EBITDA and adjusted EBITDA margin are non-GAAP measures. Fo
Slide 20: Reconciliation of Non-GAAP Financial Metrics
Reconciliation of Non-GAAP Financial Metrics Three Months Ended December 31, 2025 2024 (in thousands) Net loss $ (180) $ (1,420) Interest expense, net 5,199 4,212 Income tax expense (benefit) 1,436 1,705 Depreciation and amortization 14,778 16,174 EBITDA $ 21,233 $ 20,671 Adjustments: Equity-based c
Slide 21: Reconciliation of Non-GAAP Financial Metrics cont'd
Reconciliation of Non-GAAP Financial Metrics cont'd Three Months Ended December 31, 2025 2024 (in thousands) Net loss $ (180) $ (1,420) Equity-based compensation (1) 2,630 3,072 Acquisition transaction costs and other expenses (2) (302) 1,583 Certain severance, relocation and related costs (3) — 12
Slide 22: Reconciliation of Non-GAAP Financial Metrics cont'd
Reconciliation of Non-GAAP Financial Metrics cont'd Represents non-cash charges related to equity-based compensation programs, which vary from period to period depending on (1) timing of awards. For the three months ended December 31, 2025, includes gain on the sale of certain assets held for sale.