Latest news with #BittyPop!
Business Wire
2 days ago
- Business
- Business Wire
Funko Announces Amendment to Existing Credit Agreement
EVERETT, Wash.--(BUSINESS WIRE)--Funko, Inc. (Nasdaq: FNKO), a leading pop culture lifestyle brand, today announced that on July 16, 2025 it executed an amendment to its existing credit facilities, originally dated September 17, 2021. As part of our tariff mitigation plans, we have proactively amended our existing credit agreement to allow more covenant flexibility. We received consent to the amendment from 100% of our bank group and appreciate their continued support and partnership. Share The amendment modifies the company's existing credit agreement to include waivers for the maximum net leverage ratio and the minimum fixed charge coverage ratio financial covenants for the fiscal quarters ended June 30, 2025 and ending September 30, 2025. The amended credit agreement also adds or modifies other covenants and reduces the revolving commitments under the company's existing credit facilities from $150 million to $135 million as of July 16, 2025, and to $125 million on December 31, 2025. Funko's Chief Financial Officer, Yves Le Pendeven commented, 'As part of our comprehensive tariff mitigation plans, we have proactively amended our existing credit agreement to allow more covenant flexibility during this dynamic period. We received consent to the amendment from 100% of our bank group and appreciate their continued support and partnership.' Separately, Funko has engaged Moelis & Company LLC to advise the company on options for refinancing its credit facilities, which mature on September 17, 2026. For more information on the amended credit agreement, please refer to the full text of the amendment filed as Exhibit 10.1 to Funko's Current Report on Form 8-K. About Funko Funko is a leading global pop culture lifestyle brand, with a diverse collection of brands, including Funko, Loungefly, and Mondo, and an industry-leading portfolio of licenses. Funko delivers industry-defining products that span vinyl figures, micro-collectibles, fashion accessories, apparel, action toys, high-end art, music collectibles, among others, many of which are at the forefront of the growing Kidult economy. Through these products, which include the iconic original Pop! line, Bitty Pop!, and Pop! Yourself, Funko inspires fans across the globe to express their passions, build community, and have fun. Founded in 1998 and headquartered in Washington state, Funko has offices, retail locations, operations, and licensed partnerships in major consumer geographies across the globe. Learn more at and follow us on TikTok, X, and Instagram. Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding the Company's intention to realize the full potential of the business, including Funko's future refinancing of its credit facilities, tariff mitigation plans and intended covenant flexibility These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to execute our business strategy; our ability to manage our inventories and growth; risks relating to our indebtedness, including our ability to comply with financial and negative covenants under our Credit Agreement, as amended, and our ability to continue as a going concern; our ability to maintain and realize the full value of our license agreements; impacts from economic downturns; changes in the retail industry and markets for our consumer products; our ability to maintain our relationships with retail customers and distributors; our ability to compete effectively; fluctuations in our gross margin; our dependence on content development and creation by third parties; the ongoing level of popularity of our products with consumers; our ability to develop and introduce products in a timely and cost-effective manner; our ability to obtain, maintain and protect our intellectual property rights or those of our licensors; potential violations of the intellectual property rights of others; risks associated with counterfeit versions of our products; our ability to attract and retain qualified employees and maintain our corporate culture; our use of third-party manufacturing; risks associated with climate change; increased attention to sustainability and environmental, social and governance initiatives; geographic concentration of our operations; risks associated with our international operations, including risks related to tariffs and trade restrictions; changes in effective tax rates or tax law; our dependence on vendors and outsourcers; risks relating to government regulation; risks relating to litigation, including products liability claims and securities class action litigation; any failure to successfully integrate or realize the anticipated benefits of acquisitions or investments; future development and acceptance of blockchain networks; risks associated with receiving payments in digital assets; risk resulting from our e-commerce business and social media presence; our ability to successfully operate our information systems and implement new technology; our ability to secure additional financing on favorable terms or at all; the potential for our or our third-party providers' electronic data or the electronic data of our customers to be compromised; the influence of our significant stockholder, TCG, and the possibility that TCG's interests may conflict with the interests of our other stockholders; risks relating to our organizational structure; including the Tax Receivable Agreement ("TRA") which confers certain benefits upon the parties to the TRA ("TRA Parties") that will not benefit Class A common stockholders to the same extent as it will benefit the TRA Parties; volatility in the price of our Class A common stock; and risks associated with our internal control over financial reporting. These and other important factors discussed under the caption 'Risk Factors' in our quarterly report on Form 10-Q for the quarter ended March 31, 2025, and our other filings with the Securities and Exchange Commission could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
Business Wire
07-07-2025
- Business
- Business Wire
Funko Announces Appointment of Michael Lunsford as Interim Chief Executive Officer
EVERETT, Wash.--(BUSINESS WIRE)--Funko, Inc. (Nasdaq: FNKO), a leading pop culture lifestyle brand, today announced that Michael Lunsford has been appointed as the Company's Interim Chief Executive Officer, effective July 5, 2025. The appointment follows the departure of Cynthia Williams from her role as the Company's Chief Executive Officer, effective on the same date. Mr. Lunsford previously served as Funko's Interim Chief Executive Officer in 2023-2024 and continues to serve as a member of the Company's Board of Directors. 'The Board of Directors thanks Cynthia for her many accomplishments during her tenure at Funko,' said Chairman of the Board, Charles Denson. 'We believe a change in leadership is necessary to deliver full shareholder value and believe Mike's appointment positions us accordingly. Mike is experienced in leading several companies, including Funko, through successful corporate transitions. The Board has asked Mike to help us realize the full potential of the business, including helping to identify a new chief executive officer, accelerating our organic growth, and exploring all financial and strategic options for the business.' 'I believe we have yet to achieve the full potential of Funko,' said Lunsford. 'We have an iconic brand, passionate fans, great licensing and retail partners, and a dedicated team of highly capable employees. The recent changes to the global business environment have constrained our growth initiatives, and we intend to first address those challenges but always with an eye towards the long-term growth of the business. We will continue to focus on profitable growth and delighting our fans.' About Funko Funko is a leading global pop culture lifestyle brand, with a diverse collection of brands, including Funko, Loungefly, and Mondo, and an industry-leading portfolio of licenses. Funko delivers industry-defining products that span vinyl figures, micro-collectibles, fashion accessories, apparel, action toys, high-end art, music collectibles, among others, many of which are at the forefront of the growing Kidult economy. Through these products, which include the iconic original Pop! line, Bitty Pop!, and Pop! Yourself, Funko inspires fans across the globe to express their passions, build community, and have fun. Founded in 1998 and headquartered in Washington state, Funko has offices, retail locations, operations, and licensed partnerships in major consumer geographies across the globe. Learn more at and follow us on TikTok, X, and Instagram. Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding the Company's intention to realize the full potential of the business, including identifying a new chief executive officer, accelerating its organic growth, and exploring all financial and strategic options for the business. These forward-looking statements are based on management's current expectations. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to execute our business strategy; our ability to manage our inventories and growth; risks relating to our indebtedness, including our ability to comply with financial and negative covenants under our Credit Agreement, as amended, and our ability to continue as a going concern; our ability to maintain and realize the full value of our license agreements; impacts from economic downturns; changes in the retail industry and markets for our consumer products; our ability to maintain our relationships with retail customers and distributors; our ability to compete effectively; fluctuations in our gross margin; our dependence on content development and creation by third parties; the ongoing level of popularity of our products with consumers; our ability to develop and introduce products in a timely and cost-effective manner; our ability to obtain, maintain and protect our intellectual property rights or those of our licensors; potential violations of the intellectual property rights of others; risks associated with counterfeit versions of our products; our ability to attract and retain qualified employees and maintain our corporate culture; our use of third-party manufacturing; risks associated with climate change; increased attention to sustainability and environmental, social and governance initiatives; geographic concentration of our operations; risks associated with our international operations, including risks related to tariffs and trade restrictions; changes in effective tax rates or tax law; our dependence on vendors and outsourcers; risks relating to government regulation; risks relating to litigation, including products liability claims and securities class action litigation; any failure to successfully integrate or realize the anticipated benefits of acquisitions or investments; future development and acceptance of blockchain networks; risks associated with receiving payments in digital assets; risk resulting from our e-commerce business and social media presence; our ability to successfully operate our information systems and implement new technology; our ability to secure additional financing on favorable terms or at all; the potential for our or our third-party providers' electronic data or the electronic data of our customers to be compromised; the influence of our significant stockholder, TCG, and the possibility that TCG's interests may conflict with the interests of our other stockholders; risks relating to our organizational structure; including the Tax Receivable Agreement ("TRA") which confers certain benefits upon the parties to the TRA ("TRA Parties") that will not benefit Class A common stockholders to the same extent as it will benefit the TRA Parties; volatility in the price of our Class A common stock; and risks associated with our internal control over financial reporting. These and other important factors discussed under the caption 'Risk Factors' in our quarterly report on Form 10-Q for the quarter ended March 31, 2025, and our other filings with the Securities and Exchange Commission could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
Business Wire
18-06-2025
- Entertainment
- Business Wire
Funko Hits Licensing Homerun With Personalized MLB Pop! Yourself Collectibles
EVERETT, Wash.--(BUSINESS WIRE)--Funko, Inc. (Nasdaq: FNKO), a leading global pop culture brand, is stepping up to the plate with a new Major League Baseball collaboration that expands the company's personalized collectibles experience, Pop! Yourself. Available now, collectors can show their pride by outfitting their personalized Pop! Yourself figure in official jerseys sporting the logo from any of the 30 MLB teams. Available for $45 each through the Pop! Yourself platform, the customizable keepsake comes with a team jersey of choice, two themed accessories (e.g., baseball, glove, foam finger, popcorn), and official MLB packaging. Share 'We're excited to work with Major League Baseball to offer baseball fans a new way to celebrate their love for the game and their favorite team through our Pop! Yourself experience,' said Jen Hann, General Manager of Pop! Yourself at Funko. 'The overwhelming response to Pop! Yourself has shown just how much fans enjoy creating personalized collectibles, and expanding the experience to include all 30 MLB teams is the next step in our mission to allow sports fans to express their fandom in fun and innovative ways.' Available for $45 each through the Pop! Yourself platform, the customizable keepsake comes with a team jersey of choice, two themed accessories (e.g., baseball, glove, foam finger, popcorn), and official MLB packaging. This launch adds to Funko's growing roster of licensed MLB items, including Pop! collectibles of fan-favorite players available at For fans to create their own personalized Pop! Yourself collectible, they can visit Pop! Yourself is Funko's personalized product offering, tapping into the $30 billion* personalized gifting market. As a leading pop culture lifestyle brand, Funko is delivering more customization than ever, making collecting more personal, meaningful, and fun. Pop! Yourself celebrates life's biggest (and smallest) moments, from birthdays and graduations to weddings, holidays, and everything in between. *Source: Market Research Future ABOUT FUNKO Funko is a leading global pop culture lifestyle brand, with a diverse collection of brands, including Funko, Loungefly, and Mondo, and an industry-leading portfolio of licenses. Funko delivers industry-defining products that span vinyl figures, micro-collectibles, fashion accessories, apparel, action toys, high-end art, music collectibles, among others, many of which are at the forefront of the growing Kidult economy. Through these products, which include the iconic original Pop! line, Bitty Pop!, and Pop! Yourself, Funko inspires fans across the globe to express their passions, build community, and have fun. Founded in 1998 and headquartered in Washington state, Funko has offices, retail locations, operations, and licensed partnerships in major consumer geographies across the globe. Learn more at and and follow us on TikTok, X, and Instagram.
Yahoo
23-04-2025
- Business
- Yahoo
Funko to Host 2025 First Quarter Financial Results Conference Call on Thursday, May 8, 2025
EVERETT, Wash., April 23, 2025--(BUSINESS WIRE)--Funko, Inc. (Nasdaq: FNKO), a leading pop culture lifestyle brand, today announced that it will host a conference call on Thursday, May 8, 2025, at 4:30 p.m. ET to discuss its financial results for the first quarter ended March 31, 2025. The conference call will be webcast and can be accessed on the investor relations section of the Funko website at After the call, a replay of the webcast will be available on the same website. About Funko: Funko is a leading global pop culture lifestyle brand, with a diverse collection of brands, including Funko, Loungefly, and Mondo, and an industry-leading portfolio of licenses. Funko delivers industry-defining products that span vinyl figures, micro-collectibles, fashion accessories, apparel, plush, action toys, high-end art, music and digital collectibles, many of which are at the forefront of the growing Kidult economy. Through these products, which include the iconic original Pop! line, Bitty Pop!, and Pop! Yourself, Funko inspires fans across the globe to express their passions, build community, and have fun. Founded in 1998 and headquartered in Washington state, Funko has offices, retail locations, operations, and licensed partnerships in major consumer geographies across the globe. Learn more at and and follow us on TikTok, X, and Instagram. View source version on Contacts Investor Contact: investorrelations@ Media Contact: pr@
Business Wire
23-04-2025
- Business
- Business Wire
Funko to Host 2025 First Quarter Financial Results Conference Call
EVERETT, Wash.--(BUSINESS WIRE)--Funko, Inc. (Nasdaq: FNKO), a leading pop culture lifestyle brand, today announced that it will host a conference call on Thursday, May 8, 2025, at 4:30 p.m. ET to discuss its financial results for the first quarter ended March 31, 2025. The conference call will be webcast and can be accessed on the investor relations section of the Funko website at After the call, a replay of the webcast will be available on the same website. About Funko: Funko is a leading global pop culture lifestyle brand, with a diverse collection of brands, including Funko, Loungefly, and Mondo, and an industry-leading portfolio of licenses. Funko delivers industry-defining products that span vinyl figures, micro-collectibles, fashion accessories, apparel, plush, action toys, high-end art, music and digital collectibles, many of which are at the forefront of the growing Kidult economy. Through these products, which include the iconic original Pop! line, Bitty Pop!, and Pop! Yourself, Funko inspires fans across the globe to express their passions, build community, and have fun. Founded in 1998 and headquartered in Washington state, Funko has offices, retail locations, operations, and licensed partnerships in major consumer geographies across the globe. Learn more at and and follow us on TikTok, X, and Instagram.
