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Funko turns licensed characters and designs into physical products for fans. Collectibles, mainly figures, generate most of its revenue, with Pop! among its principal brands. Loungefly adds bags, wallets and other fashion accessories, while Mondo is a smaller part of the business. Funko designs most products in-house and uses outside manufacturers, primarily in Vietnam and China, to make them.
Retailers and distributors buy most of its products for resale to consumers. Customers include Amazon, Hot Topic, Walmart and Target; Funko also sells directly through its websites and flagship stores. Retail customers do not commit to long-term purchase volumes, so sales depend on consumer interest translating into retailer orders.
Nearly all sales come from licensed products. A relatively small group of content owners supplies the rights behind most sales, with Disney, Lucasfilm and Marvel together accounting for a substantial share. Funko pays royalties for those rights, sometimes with minimum guarantees. Licenses are not automatically renewed, and Funko generally must stop selling the related products when an agreement ends. Keeping those rights and matching products to changing pop-culture interests are central to the business.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
JAKKS Pacific competes with Funko for shelf space and character licenses, selling licensed figures and other character merchandise to overlapping mass-market retailers. Its sales to Target and Walmart are worth watching for signs of retailer demand for these products.
Funko depends on The Walt Disney Company for permission to use Disney, Marvel and Lucasfilm characters on merchandise; those separately licensed properties together accounted for approximately 28% of Funko’s 2025 sales. Watch Disney’s content-release schedules, audience response and licensing decisions, which can affect Funko’s product sales and its right to keep selling them.
Hasbro competes with Funko for collectors’ spending and retailer shelf space: both sell licensed toys and collectibles through retailers and directly to fans. Hasbro’s Consumer Products results are the closer comparison for Funko than its games and digital-gaming business.
GameStop buys Funko products to resell to fans through its stores and online, making it both a customer and a window into spending on pop-culture merchandise. Watch its collectibles sales, which include toys and apparel, rather than treating its gaming-console and software sales as a read on Funko.
Hasbro, Inc. earningsHAS
Hasbro and Funko both sell licensed toys and collectibles to retailers and fans, so Hasbro’s report will show how demand and shelf-space competition in that shared market are shaping up.
Focus on Hasbro’s Consumer Products sales, not its games business. Stronger sales would show that retailers and fans are still buying licensed toys and collectibles, while also signaling a stronger rival for Funko’s shelf space; weaker sales would point to softer demand in the shared market, but would not by themselves prove that Funko’s own sales are falling.
Fed Interest Rate Decision
The Fed’s rate decision signals the direction of borrowing costs, which can change interest expense on Funko’s $219.9 million of Credit Facilities debt and leave more or less cash for operations and debt service.
Expected4.0%Last release4.0%
If it comes in above expectations
If rates rise more than expected, interest on debt that resets with rates can increase, leaving Funko less cash for inventory, other operating needs and scheduled debt payments.
If it comes in below expectations
If rates fall more than expected, interest on debt that resets with rates can ease, leaving Funko more cash for inventory, other operating needs and scheduled debt payments.
Funko, Inc. earningsThis company
Funko sells licensed collectibles through retailers and other channels, and this report will show whether sales are stabilizing and product costs are still squeezing its margins.
Read net sales alongside gross margin, the share of sales left after product costs. Stable or rising sales with a steady or improving margin would show that demand and product economics are holding up; falling sales with a shrinking margin would show that weak demand and cost pressure are still squeezing Funko’s business.
The Walt Disney Company earningsDIS
Disney licenses its Disney, Marvel and Lucasfilm characters to Funko under separate agreements; those properties together accounted for about 28% of Funko’s 2025 sales, making Disney’s content and licensing decisions important to what Funko can sell.
Read audience response to Disney content separately from licensing decisions. A strong response can support demand for related character merchandise, while continued licensing lets Funko keep selling it. A weaker response could dampen demand, and less favorable or discontinued licenses could threaten access to those properties; popular content alone does not guarantee a license will be renewed.
Retail Sales MoM (Oct)
Retail sales track purchases at retailers, where Funko sells its Pop!, Loungefly and other pop-culture products; stronger or weaker consumer spending can change retailer orders and Funko’s net sales.
Stronger retail sales suggest consumers are spending more, which may support retailer orders for Funko’s Pop!, Loungefly and other products; weaker sales suggest softer demand that may lead retailers to order less.
GameStop Corp. earningsGME
GameStop resells Funko products, so its collectibles sales, including toys and apparel, offer a better read on customer demand for Funko-related merchandise than its sales of consoles and software.
Watch GameStop’s collectibles sales, not its console and software sales, as a read on this merchandise category. Growth means GameStop is selling more items such as toys and apparel to customers, supporting demand in a retailer that carries Funko products; a decline points to weaker customer buying. GameStop’s sales to shoppers do not reveal how much it ordered from Funko.
