FUNKO GAMES SELL-IN EXCEEDING EXPECTATIONS

Tuesday August 13, 2019

<img src="https://naturallycoolkids.com/wp-content/uploads/2019/07/tWZQaXf.jpg" width="600"> <IMG SRC="/images/news/rickmorty.jpg" ALIGN="LEFT"> The future is bright for Funko�s new game line (see "<A HREF="https://icv2.com/articles/news/view/43637/funko-unveils-funkoverse-board-games">Funko Unveils Funkoverse Board Games</A>"), company President Andrew Perlmutter told analysts in the conference call last week, as the company reported another blockbuster quarter. "Retail adoption and sell-in is outpacing our expectations," Perlmutter said (transcript via <A HREF="https://seekingalpha.com/">SeekingAlpha</A>). "The major retailers we work with have placed orders, including several that don�t traditionally carry boardgames, and those orders have exceeded our expectations." The company is pursuing a global launch for the Funkoverse line, with versions in French, German, and Spanish joining the English language games, Perlmutter said. Meanwhile Funko�s Q2 had massive sales and profit increases, leading the company to increase its full-year guidance. Sales were up 38% to $191.2 million from $138.7 million in Q2 2018. U.S. sales were up 26%, while international sales grew 65%. Sales of POP! Vinyl figures, which at nine years old would normally be expected to tail off, were up 34% in the quarter. Net income grew to $11.4 million from $0.3 million in Q2 2018. Funko raised its guidance for sales for the year to $840 to $850 million, with net profits expected to be $61.5 million to $65.3 million. Funkoverse Rick and Morty 100 Strategy Game <img src="https://www.funko.com/craftmin/assets/RM-2up.png">