Funko is still popular and nets a good sales increase

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Funko is still popular and nets a good sales increaseIt’s been a while since we’ve heard big news about Funko. The company though is still going strong and enjoys quite a lot of popularity.

Its latest earnings reports tells a good story. The company nets a 38% increase of its sales. The revenue climbs up to $191.2 million for the second quarter of the year.

This also brings in a 35% increase of gross profit. The net income is now $11.4 million and income from operations jumped 98%.

Sales of Funko’s collectable figures jumped 39%. The Loungefly line also nets 30% increase.

“We believe these results and our continued opportunities for growth demonstrate that the world is increasingly viewing pop culture through the lens of Funko,” said Funko CEO, Brian Mariotti.

“Funko has become a solid entertainment content platform, and our brand continues to grow in awareness and popularity around the world. This unique position enables us to develop new and increasingly profitable sources of revenue that we expect will propel continued growth for many years to come.”

The increased revenue comes at a time where there’s more and more competitors for Funko’s popular lines like the POP vinyl figures. The company itself is also expanding into new categories which brings new challenges. So far it seems Funko is doing things right and enjoys success.