Funko(US:FNKO)2022-05-06 06:58Financial Performance - Net sales increased by 63% to $308.3 million compared to Q1 2021[8, 9] - Core Collectible Brands grew 53% to $239.6 million[8] - Loungefly net sales grew 103% to $50.1 million[8] - Toy & Game Brands and Digital Brands collectively increased 140% to $18.6 million[8] - Gross margin contracted 610 bps to 35%[8] - Net income increased 31% to $14.5 million[8] - Adjusted EBITDA increased 22% to $36.3 million[8] Strategic Initiatives - The Chernin Group-Led Consortium is set to acquire 25% of Funko shares from ACON Investments for $263 million[6] - Funko and eBay are partnering to make eBay the preferred resale channel for Funko, as well as creating exclusive product releases[8] Balance Sheet - Cash & Cash Equivalents decreased 55.6% year-over-year to $33.1 million[19] - Inventory increased 160.8% year-over-year to $161.5 million[19] - Total debt decreased 7.7% year-over-year to $168.9 million[19]