Financial Data and Key Metrics Changes - For Q4, net sales were $273 million, up 9% compared to Q3, exceeding expectations [26] - Gross margin was at 41%, slightly higher than guidance, maintaining above 40% for seven of the last eight quarters [26] - SG&A expenses decreased by 12% year-over-year to $91 million [26] - Adjusted EBITDA for Q4 was $23 million, at the high end of expectations [26] Business Line Data and Key Metrics Changes - Funko core product lines are expected to grow high single digits year-over-year in 2026, while Loungefly is projected to decline by double digits due to SKU cuts [28][29] - The Bitty Pop! product line has shown strong growth, contributing positively to sales [31] Market Data and Key Metrics Changes - In the EU, sales increased by 20% from January 2025 to January 2026, outperforming market growth [22] - The company is the second largest collectible brand by market share in Europe, following Pokémon [22] Company Strategy and Development Direction - The "Make Culture Pop!" strategy focuses on participating in cultural moments and expanding into new markets, particularly in Asia and Latin America [10][24] - A new Chief International Officer has been appointed to drive growth in Asia and Latin America, targeting significant opportunities in these regions [24] - The company aims to leverage its relationships with licensors and creators to tap into emerging cultural trends, especially from Asia [25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2026, citing a strong entertainment slate and growth in collectibles, licensed IP, and the kidult market as key drivers [32][33] - The company expects net sales to be flat to up 3% in 2026, with a substantial improvement in profitability anticipated [28][30] Other Important Information - The company has renewed licenses with major studios, ensuring a strong position for the upcoming film slate [45] - The introduction of a new program called HyperStrike aims to enhance speed in product development and capitalize on viral trends [16][20] Q&A Session Summary Question: Describe the shape of the flat to +3% guidance past Q1 - The guidance is expected to be consistent throughout the year, with Q2 anticipated to show growth over last year [34] Question: To what extent does Funko view original content creation as a growth driver? - Original content creation is seen as a long-term growth driver, with plans to partner with major studios for development [35] Question: Does Funko need to use any of its extended credit agreement in 2026? - The company does not expect to need additional borrowing and plans to manage operations on cash flows [38] Question: Can you break out the POS trends and inventory restocking domestically versus Europe? - Double-digit growth in POS sales was observed in Europe, while the US saw improving trends throughout Q4 [39] Question: What would you highlight as the key initiatives to drive top line results and margin versus 2025? - Key initiatives include leveraging the content slate, expanding international growth, and launching new products [40]

Financial Data and Key Metrics Changes - For Q4, net sales were $273 million, up 9% compared to expectations, indicating better performance than anticipated [26] - Gross margin was reported at 41%, slightly higher than guidance, maintaining above 40% for seven of the last eight quarters [26] - SG&A expenses decreased by 12% year-over-year to $91 million [27] - Adjusted EBITDA for Q4 was $23 million, at the high end of expectations [27] Business Line Data and Key Metrics Changes - Funko's core product lines are expected to grow in high single digits year-over-year, while Loungefly is projected to decline in double digits due to SKU cuts [28][29] - The Bitty Pop! product line has shown strong growth, contributing positively to sales [31] Market Data and Key Metrics Changes - In the EU, sales increased by 20% from January 2025 to January 2026, outperforming market growth [22] - The company is the second largest collectible brand by market share in the EU, following Pokémon [22] Company Strategy and Development Direction - The "Make Culture POP!" strategy focuses on participating in cultural moments and expanding into new markets, particularly in Asia and Latin America [10][25] - A new Chief International Officer has been appointed to drive growth in Asia and Latin America, targeting significant toy markets [24] - The company is exploring original content creation as a long-term growth driver, leveraging partnerships with major studios [35][45] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2026, citing a strong entertainment slate and trends in collectibles, licensed IP, and kidult demographics as growth drivers [32][33] - The company expects net sales to be flat to up 3% in 2026, with a substantial improvement in profitability [28][30] Other Important Information - The company has launched a new program called HyperStrike to quickly design and manufacture products in response to pop culture moments [16] - Funko has renewed licenses with major studios, ensuring a strong lineup for the upcoming film slate [45] Q&A Session Summary Question: Describe the shape of the flat to +3% guidance past Q1 - The guidance is expected to be consistent throughout the year, with Q2 anticipated to show growth over last year [34] Question: To what extent does Funko view original content creation as a growth driver? - Original content creation is seen as a serious long-term growth driver, with a focus on storytelling through partnerships with major studios [35] Question: Does Funko need to use any of its extended credit agreement in 2026? - The company does not expect to need additional borrowing and plans to manage on operating cash flows [38] Question: Can you break out the POS trends and inventory restocking domestically versus Europe? - Double-digit growth in POS sales was observed in Europe, with improving trends in the U.S. throughout Q4 [39] Question: What would you highlight as the key initiatives to drive top line results and margin versus 2025? - Key initiatives include leveraging the content slate, expanding international growth, and launching new products [40]

Financial Data and Key Metrics Changes - For Q4 2025, net sales were $273 million, up 9% compared to Q3, exceeding expectations [25] - Gross margin was at 41%, slightly higher than guidance, marking the seventh of the last eight quarters above 40% [25] - SG&A expenses decreased by 12% year-over-year to $91 million [26] - Adjusted EBITDA for Q4 was $23 million, at the high end of expectations [26] - For 2026, net sales are expected to be flat to up 3% compared to 2025, with adjusted EBITDA projected between $70 million and $80 million [27] Business Line Data and Key Metrics Changes - Funko core product lines are expected to grow high single digits year-over-year, while Loungefly is projected to decline by double digits due to SKU cuts [27][28] - The Bitty Pop! product line has shown strong growth, contributing positively to sales [30] Market Data and Key Metrics Changes - In Europe, sales increased by 20% from January 2025 to January 2026, outperforming market growth [22] - The company is the second largest collectible brand by market share in Europe, following Pokémon [22] Company Strategy and Development Direction - The "Make Culture Pop!" strategy focuses on participating in cultural moments and expanding the brand's presence in collectibles [10] - The company aims to grow in Asia and Latin America, appointing a new Chief International Officer to drive this initiative [23] - Funko is exploring original content creation as a long-term growth driver, leveraging partnerships with major studios [35] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2026, citing a strong entertainment slate and growth in collectibles, licensed IP, and the "kidult" market [32][33] - The company is confident in maintaining gross margins due to renewed licensing agreements and cost management strategies [29] Other Important Information - Funko launched a new program called HyperStrike to quickly design and manufacture products in response to cultural trends [15] - The company is expanding its product offerings, including a partnership with Rideback for new storytelling initiatives [21] Q&A Session Summary Question: Describe the shape of the flat to +3% guidance past Q1 - The growth is expected to be consistent throughout the year, with Q2 anticipated to show improvement over last year [34] Question: To what extent does Funko view original content creation as a growth driver? - Original content is seen as a potential long-term growth driver, with a focus on storytelling through partnerships with major studios [35] Question: Does Funko need to use any of its extended credit agreement in 2026? - The company does not expect to need additional borrowing and plans to manage operations with existing cash flows [37] Question: Can you break out the POS trends and inventory restocking domestically versus Europe? - Europe continues to see double-digit growth in POS sales, while the US has shown improving trends throughout Q4 [39] Question: What would you highlight as the key initiatives to drive top line results and margin versus 2025? - Key initiatives include a strong content slate, growth in Bitty Pop!, and international expansion [40]

Q4 2025 EARNINGS March 12, 2026 Q4 EARNINGS | 2025 1 Presentation Disclosures This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding our product offerings, our strategic plan and speed to market, future financial results, including without limitation, full-year ...

Q3 Supplemental Information NOVEMBER 2025 Funko, LLC © 2025 Cautionary Notes This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding our future results of operations and financial position, industry dynamics, business strategy and plans and our objectives for fut ...

Financial Performance - Q2 2025毛利率为32.1%[7] - 渠道和产品销售组合变化对毛利率产生-0.6%的影响[7] - 产品利润率提高使毛利率增加3.5%[7] - 版权最低保证缺口导致毛利率下降-2.4%[7] - 关税导致毛利率下降-4.6%[7] - 库存准备金调整导致毛利率下降-5.8%[7] Sales & Top Properties - 前十大IP占比净销售额的33%[5] - 前十大IP占比未知[4] Global Expansion & Brand Engagement - Funko于2025年7月在东南亚开设了第一家授权商店，位于菲律宾[9] - Funko在2025年圣地亚哥动漫展（SDCC）上占据了最大的实体展位，通过四个沉浸式区域与各个年龄段和圈子的收藏家互动[13] - SDCC 2025上，每日都有售罄情况发生，表明产品受欢迎和品牌亲和力[13]

Company Overview - Funko's net sales in 2023 reached $1.1 billion[7] - In 2023, the United States accounted for 69% of Funko's sales, while international sales contributed 31%[7] - Core Collectibles represented 73% of 2023 sales, Loungefly accounted for 20%, and other brands made up the remaining 7%[8] - Wholesale channels accounted for 79% of 2023 sales, while direct-to-consumer (DTC) channels contributed 21%[9] Strategic Initiatives - The company aims to reduce SKU counts by approximately 30% to focus on core product lines[42, 48] - Funko implemented more than $150 million of annualized cost savings in 2023 compared to peak Q4 2022 levels[45] - Workforce reductions of approximately 25% were implemented from year-end 2022 levels[45] Financial Performance & Targets - In 2017, the Adjusted EBITDA margin was 17.4%, while in 2023, it was 7.0%[38] - The company expects equity-based compensation of approximately $15 million, depreciation and amortization of approximately $64 million, and interest expense of approximately $18 million for the full year 2024[69]