Net sales increased by 26% to $223.3m in the third quarter of 2019 from $176.9m in the third quarter of 2018.
Funko has reported overall strong growth in its third quarter financial results, which has seen net sales increase by 26% to $223.3m from $176.9m in the third quarter of 2018. The growth was driven primarily by an increase in the number of active properties and strong sales demand in the United States and Europe.
In the third quarter of 2019, the number of active properties increased 13% to 627 from 553 in the third quarter of 2018 and net sales per active property increased 11%. On a geographical basis, net sales in the United States increased 21% to $147.3m and net sales internationally increased 37% to $76m with strong growth in Europe.
On a product category basis, net sales of figures increased 24% to $176.5m and net sales of other products increased 33% to $46.8m versus the third quarter of 2018, driven primarily by continued growth of Loungefly and other softline products and the introduction of a games product line.
Other highlights of Funko’s financial results include the company’s gross profit, which this year increased by 26% to $85.5m and income from operations, which increased by 36% to $22.6m.
The table below show the breakdown of net sales on a geographical and product category basis (in thousands):
Brian Mariotti, Funko’s CEO, commented: “Funko once again delivered another quarter of strong growth and financial performance. We are driving results by executing against our strategic initiatives and investing in the long-term success of Funko. There continues to be strong global demand for our products as the proliferation of content persists around the world. We are continuing to make the investments needed to capitalise on our expanding growth opportunities in both new and existing markets.”