EarningsQ2 2026 Earnings Report
DE:FU2 Q2 2026 EPS Results
Actual EPS€0.23
Consensus EPS-€0.18
Beat/MissBeat by +€0.42
One Year Ago EPS-€0.43
DE:FU2 Q2 2026 Revenue Results
Actual Revenue€185.36M
Expected Revenue€179.33M
Beat/MissBeat by +€6.03M
YoY Revenue Growth+7.37%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeAfter Close
Conference CallThursday, August 6, 2026
DE:FU2 Upcoming Earnings
Funko's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:FU2 Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a largely positive operational and strategic picture: revenue growth across key regions and categories, strong POS and SKU productivity improvements, record normalized gross margin, sizable improvement in adjusted EBITDA, progress on deleveraging, and multiple product and manufacturing innovations (Pop! Mystery, HP additive manufacturing, QuickStrike). Key risks and lowlights include the headline distortion from a one-time $25M tariff credit, ongoing tariff and input-cost uncertainty, a discounted sale of tariff claims, and work remaining on Loungefly recovery and Q4 visibility. On balance the progress on profitability, product innovation, retail placement, and financial deleveraging outweigh the one-time accounting effects and remaining execution risks.Company Guidance
Top-Line Growth
Net sales grew 7% in Q2 and were up 6% for the first half of FY2026, driven by broad-based strength rather than a single product or region.
Regional Performance
U.S. sales increased ~3% while Europe delivered a strong 19% sales increase in the quarter, with Europe also showing >20% POS growth year-to-date.
Product Category Strength
Core collectibles grew 9% in the quarter. New product formats (Pop! Mystery, Bitty Pop!, Pop! Yourself) and premium Mondo offerings are expanding the product portfolio and shelf presence.
Improved Profitability (Normalized)
Reported gross margin was 6.6% (impacted by accounting items); normalized for a $25M tariff-related credit, gross margin was 44.4% (above guidance range of 42%–44%) — described as a record high underlying gross margin.
Adjusted EBITDA and Financial Progress
Adjusted EBITDA was $40.9M (vs. negative $16.5M last year). Excluding the tariff benefit, adjusted EBITDA was $15M, which management noted was still well above guidance. Company raised FY adjusted EBITDA guidance to $100M–$110M and reiterated net sales guidance of flat to +3%.
Deleveraging Actions
Executed sale of IEEPA tariff claims (nominal $22M) for $19M proceeds and used proceeds to pay down $15M of debt, demonstrating progress on deleveraging the balance sheet.
Retail and Channel Momentum
POS sales were up 6% in the quarter and 9% year-to-date. Management secured incremental in-store placements and experiential displays (e.g., ~350 Smyths stores, HMV, Hamleys) and pallet/end-cap placements at major retailers like Walmart.
Speed and Go-to-Market Innovation
Partnership with HP for additive manufacturing enables creating products in weeks vs. months (first product sold out at Fanatics Fest). QuickStrike/rapid-response launches (e.g., Knicks championship pack same-night preorder) are delivering surprise hits and strong sell-through.
SKU Productivity & Portfolio Optimization
Loungefly sales were down 2% but with approximately 50% fewer SKUs, indicating improved SKU productivity and progress on reducing underperforming assortments.
Management Strengthening
Hired new Chief Commercial Officer Kristen Hamilton (ex-Crunchyroll, Hasbro) to bolster global e‑commerce, DTC, and anime expertise.
DE:FU2 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed