By Katherine Hamilton
Funko swung to a loss and posted a steep drop in sales for the second quarter after shifting trade policies weighed on revenue.
Shares slid 13% to $3.19 after the market closed Thursday, which would be a 52-week low. At the close, shares are down 73% this year.
The collectibles maker, known for its figurines, posted a loss of $40.5 million, or 74 cents a share, compared with a profit of $5.1 million, or 10 cents a share, the year before.
Adjusted loss per share was 48 cents, wider than the 39-cent loss Wall Street forecast.
Revenue fell 22% to $193.5 million, ahead of the $188.3 million analysts anticipated.
Almost five points of its margin decline from the previous year was directly attributed to U.S. tariff changes, Chief Financial Officer Yves LePendeven told analysts. A shortfall in minimum guaranteed royalties caused by sales disruptions, the tripling of tariffs on imports and a build in inventory reserves all weighed on revenue, LePendeven said.
Funko said it expects sales to be down by a high single-digit percent in the second half of the year. It didn't give exact numbers because tariff uncertainty is making it difficult to have a clear view into the future, LePendeven said.
The company pulled its outlook when it reported earnings in May. Three months before that, it had been guiding for full-year revenue of $1.05 billion to $1.08 billion, compared with 2024's sales of $1.05 billion.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
August 07, 2025 18:54 ET (22:54 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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