On U.S. Sales Decline
Funko reported losses for Q4 and full year 2024, albeit smaller than in the previous year, with continuing U.S. sales declines. Funko lost $1.5 million in Q4, an improvement from the $10.8 million loss in Q4 2023. For the year, Funko lost $14.7 million, improved from a $154.1 million loss in 2023.
Global sales increased a slight 0.9%, from $291.2 million in Q4 2023 to $293.7 million in Q4 2024, but U.S. sales, where Funko has been warning of consumer weakness (see “Funko Sees Warning Signs“), lagged, down 9.7% from $197.4 million to $178.2 million for the quarter.
Underlying sales trends included growth in sports merch, a 7% increase in sales of products based on anime in Q4, and continued growth in direct-to-consumer sales, which are now 29% of sales, up from 25%.
For the year, sales were down 4.2%, from $1.096 billion in 2023 to $1.050 billion. Funko released guidance for 2025, with sales expected to be flat to up slightly. Sports, music, and gaming are seen as growth segments.
Source: ICv2
