FNKO stock holds on to 2025 sales growth

FNKO stock is anchored by 2025 revenue of $1.03 billion and a 2025 net loss of $51.6 million, while 23 July 2026 gives investors a dated market frame for the name.

Funko, Inc. (US36116Q1058) stock is tied to 2025 revenue of $1.03 billion, a net loss of $51.6 million, and a gross margin of 30.9% in the latest annual report. On 23 July 2026, that mix leaves the share story centered on scale, margin and cash generation rather than a single trading headline.

Revenue still above $1 billion

Funko reported 2025 revenue of $1.03 billion, compared with $1.10 billion in 2024, which marks a decline of about 6.4% year over year. The company also said adjusted EBITDA was $71.3 million in 2025, versus $109.5 million in 2024, a drop of 34.8% that matters more than the top-line comparison.

The same report showed a 2025 net loss of $51.6 million, versus net income of $28.5 million in 2024. That reversal is the key number for investors because it shows that profit quality weakened even as revenue stayed above the $1 billion line.

Margin narrowed to 30.9%

Gross margin fell to 30.9% in 2025 from 36.4% in 2024, according to Funko's annual filing. That 5.5 percentage-point drop explains why the earnings line softened faster than sales.

Operating cash flow also stayed negative at $10.3 million in 2025, after negative $8.0 million in 2024. For a collectibles and consumer-products company, the combination of lower margin and negative operating cash flow is more important than a simple revenue comparison.

Debt and liquidity matter

Funko ended 2025 with total debt of $210.8 million and cash and cash equivalents of $39.5 million, according to the annual report. The net debt picture is the number to watch because it limits how much room the company has if margins stay under pressure.

Inventory was $183.4 million at year-end 2025, down from $216.5 million at year-end 2024. That reduction helps the working-capital picture, but it does not erase the fact that the business still needs steadier profitability to convert sales into cash.

Pop! remains the core

The Pop! line is still the clearest representative product for Funko because it is the company’s best-known collectibles brand and the main driver of consumer recognition. In a year where profit fell and margin narrowed, product concentration matters because brand strength alone does not guarantee earnings stability.

Funko's balance between licensed characters, retail demand and inventory control remains the core operating question for 2026. The latest numbers suggest that even a $1 billion-plus revenue base can leave the stock dependent on margin repair.

Market value frame

Without a fresh quoted price in the available data, the most useful market frame is the 2025 filing itself: revenue of $1.03 billion, gross margin of 30.9%, and adjusted EBITDA of $71.3 million. Those three figures define the current equity story better than a stale or unverified quote would.

For FNKO stock, the next read-through will come from whether the company can move gross margin back above 30.9% while keeping revenue near the $1 billion level. Until then, the 2025 filing remains the most concrete valuation anchor available here.

FNKO stock snapshot

• Company: Funko, Inc.
• ISIN: US36116Q1058
• Ticker: NASDAQ: FNKO
• Trading venue: NASDAQ
• Sector / Industry: Consumer Discretionary / Leisure Products
• Index membership: None widely referenced in the available data