International Growth
Funko's international performance continues to be strong, with an 8% growth in Europe's G5 markets, outpacing the overall toy market growth of 1%.
Successful Diversification Strategy
Funko has successfully diversified its supply chain, reducing U.S.-bound product manufacturing in China from one-third to approximately 5% by the end of the year.
Direct-to-Consumer Engagement
The Fan Rewards loyalty program and direct-to-consumer business continue to grow, enhancing fan engagement and profitability.
Positive Indicators in Sports Collectibles
The launch of sports-related products, such as the NBA All-Star Weekend Pop! Yourself, achieved 100% sell-through, indicating strong market traction.
Cost Reduction Initiatives
Funko has achieved annualized reductions across product costs, supply chain, and fixed expenses, including a 20% reduction in the global workforce.