Funko, Inc. (FNKO) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi everybody, I'm Tristan, but most people know me online as Top Pops. Today we are here on Hollywood Boulevard in front of Funko Hollywood. This is the only store that you can find on the Walk of Fame that has literally every corner of entertainment. Music, TV, anime, gaming, sports, all in one place. Today I'm here to host Funko's first quarter financial results. So, let's go inside. Hey Groot. Morning, Spider-Man. Joining me are Josh Simon, CEO of Funko, Eve Lapendovin, CFO, and Jessica Kong, the GM of LoungeFly. Tristan, TPOP, thanks for being here. No, thank you. Now, just so everyone knows, you are a super creator, influencer in the world of collectibles. You cover the space more broadly. I think you know more about Funko and POP than probably all of us combined at the table. So we thought it would be great to have you here and bring a new perspective to our earnings call. I think, is this your first earnings call? It is. Okay, just to confirm. I figured. Well, awesome having you here. We appreciate it. No, it's so great to be here. And now, guys, I've spent a lot of time talking about Funko from the fan side, and today I get to ask the questions from the business side. So let's get right into it. How was Q1 for Funko? Great business question. You nailed it at the top. The Q1 was really strong. I think it was the example of our make culture pop strategy kind of starting to really manifest itself in the market. We ended Q4 with some momentum and we saw that continue into the year. Overall, our sales were up 5% in the quarter. And if you look at just the core collectibles business, we're up 17%. And if I can jump in too, it's obviously pleased about the sales growth, but we also reported our highest gross margin ever at 44%. And that drove an adjusted EBITDA of $...