Funko sales were up 141% over 2020 and up 24% over 2019, according to the results the company released Thursday after the close; Funko also announced a CEO transition.
Sales for Q2 2021 were $236.1 million, up from $98.1 million in Q2 2020 and $191.2 million in Q2 2019 (see “Funko Games Sell-In Exceeds“).
Net income was $20.9 million, up $36 million from the Q2 2020 loss, and also up substantially over the $11.4 million profit in Q2 2019. Sales of figure products and non-figure products (including Loungefly, games, plush) went up by about the same rate, the company reported. The strong Q2 performance follows a record Q1 (see “Funko Plans Over 40 Games“).
Funko’s direct-to-consumer sales now account for 11% of sales; they were up 191% over the same quarter last year. Funko expects its in-person sales in 2021 to beat 2019 numbers, the last year there was a significant number of conventions, by over 40%.
Funko released its first NFT products in Q2; Mariotti reported that the first drop, of Teenage Mutant Ninja Turtles, sold out 20,000 standard packs and 10,000 premium packs in 15 minutes.
Current CEO Brian Mariotti will transition to a new role as Chief Creative Officer, managing product innovation, fan engagement, business development, M&A, and Funko’s Digital Pop! product line. Current President Andrew Perlmutter will become CEO on January 3.
Source: ICv2
