Funko closed the third quarter of 2025 with steady outcomes and stronger-than-expected margins, signaling continued resilience in a market nonetheless discovering its footing. The corporate reported internet gross sales of $250.9 million, a 14% lower versus $292.8 million throughout the identical interval final yr. Gross revenue reached $100.8 million, representing a 40.2% margin, almost flat yr over yr.
“We delivered a stable 2025 third-quarter efficiency, with internet gross sales according to inner expectations and gross margin and bottom-line profitability properly forward of expectations,” says Funko CEO Josh Simon. “Gross sales of our Bitty Pop! line, which made Walmart’s 2025 High Toy Checklist, was a key contributor, and our robust gross margin benefited from the swift implementation earlier this yr of our tariff mitigation plans.”
In Q3, gross sales of Core Collectibles slipped 12% whereas Loungefly declined by 5.5%. Gross sales within the “Different” class slipped 67%.
On the stability sheet, Funko ended the quarter with $39.2 million in money and money equivalents, $99.8 million in inventories, and $241 million in complete debt.
“I’m solely 60 days into the function, nevertheless it’s already clear how highly effective the Funko model is and the way a lot progress alternative lies forward,” Simon provides. “Our Make Tradition POP! technique is all about being on the middle of the moments everyone seems to be speaking about. Starting with lightning-fast launches like KPop Demon Hunters — the place we’ll be one of many solely licensees on cabinets this vacation season — we’re shifting quick to show popular culture into merchandise, increasing into new fandoms, delivering daring retail experiences, and celebrating the creativity that makes Funko distinctive.”
Funko comes off a triumphant return to New York Comedian Con (NYCC) final month, the place it debuted its Premium Blind Field vary and kicked off what must be a powerful This autumn due to massive content material tie-ins like Depraved: For Good, Stranger Issues 5, and the aforementioned KPop Demon Hunters. The corporate expects modest gross sales progress, with a gross margin of almost 40% and adjusted EBITDA margins within the mid-to-high single digits.
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