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Funko, Inc. (FNKO) Stock Surged 11.91% Pre-Market, Here’s Why

Funko, Inc. (FNKO) stock soared 11.91% in the pre-market trading session at the price of $20.60 after it had been scheduled to present at forthcoming investor meetings.

FNKO, located in Washington, is a pop-culture fashion and lifestyle brand. The company develops and distributes licensed pop-culture products, including action toys, vinyl figures, garments, board games, plush, housewares, and other accessories.

FNKO Scheduled Investor Conferences

On 3rd March 2022, FNKO has scheduled to present at various investor conferences. The “Bank of America 2022 Consumer and Retail Technology Meeting” will be on 9th March 2022 at 1:50 p.m. The “D.A. Davidson Consumer Growth Conference” will be held on 10th March 2022, Thursday, at 10:15 a.m. The audio webcast and replay of the event will be available on the FNKO investor website.

FNKO Q4 2021 Financial Highlights

On 3rd March 2022, FNKO published its financial results for the Q4 and fiscal year ended 31st December 2021. The company also presented its business outlook for fiscal 2022. FNKO calculated net sales of US$336.3M for the Q4 of 2021. It represents a growth of 48% from US$226.5 in the same quarter of 2020.

For the Q4 of 2021, the gross margin dropped to 33.9% from 37.2% in the same quarter of 2020. Net income totaled US$17.4M in the Q4 of 2021 compared to US$14.9M in Q4 of 2020. Net income attributable to FNKO was US$11.7M for the Q4 of 2021 compared to US$8.9M in the Q4 of the previous year. For the Q4 of 2021, the company has an Adjusted EBITDA of US$38.9M. Adjusted EBITDA was $33.2M in the prior year.

As of 31st December 2021, liquidity totaled US$183.6M, a 44% gain from 31st December 2020. Cash and cash equivalents were $83.6 million on 31st December 2021. As of 31st December 2021, FNKO has total debt of US$173.2M, a 9% drop from last year.

FNKO 2022 Business Outlook

The company expects growth of 20% to 25% in net sales for fiscal 2022. Net income has expected to range from US$95.8M to US$104.8M for the full year 2022. Earnings per share for 2022 has anticipated to range from $1.75 to $1.91.

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