Funko has seen its net sales increase 36.6% to $365.6 million for its third quarter (ending 30 September 2022).
The company enjoyed double digit net sales growth across all brand categories, as well as strong international growth, with Europe net sales growing 32.9% year on year while ‘other international’ grew 42.6%.
Direct to consumer net sales increased 36.5% year on year, driven by strong growth in average order value and ecommerce site traffic.
Funko also more than doubled Digital Pop! NFT net sales, with multiple top-tier drops, increasing drop frequency and average revenue per drop. Integration of high end collectables company, Mondo also began during the period.
Gross profit increased 32.6% to $127.9 million.
“We delivered another quarter of record net sales growth, with robust demand across our brand portfolio,” commented Andrew Perlmutter, ceo at Funko. “Our sustained success is a testament to our employees, our partners, and our loyal and highly engaged fan base. As we continue to support our rapid growth, we are making needed short-term investments to upgrade our infrastructure to help provide the capability and capacity to support our future growth.”
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