FUNKO, INC., 10-Q filed on 8/3/2023
Quarterly Report
v3.23.2
Cover Page - shares
 6 Months Ended
Jun. 30, 2023
Aug. 01, 2023
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2023  
Document Transition Report false  
Entity File Number 001-38274  
Entity Registrant Name FUNKO, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 35-2593276  
Entity Address, Address Line One 2802 Wetmore Avenue  
Entity Address, City or Town Everett  
Entity Address, State or Province WA  
Entity Address, Postal Zip Code 98201  
City Area Code 425  
Local Phone Number 783-3616  
Title of 12(b) Security Class A Common Stock,$0.0001 par value per share  
Trading Symbol FNKO  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Amendment Flag false  
Document Fiscal Year Focus 2023  
Document Fiscal Period Focus Q2  
Entity Central Index Key 0001704711  
Current Fiscal Year End Date --12-31  
Class A common shares outstanding    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   48,507,993
Class B common shares outstanding    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   3,293,140
v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Statement [Abstract]        
Net sales $ 240,028 $ 315,716 $ 491,906 $ 624,059
Cost of sales (exclusive of depreciation and amortization shown separately below) 170,019 212,597 372,322 412,246
Selling, general, and administrative expenses 85,632 82,693 185,693 161,113
Depreciation and amortization 14,893 11,483 28,869 21,954
Total operating expenses 270,544 306,773 586,884 595,313
(Loss) income from operations (30,516) 8,943 (94,978) 28,746
Interest expense, net 7,264 1,667 12,950 2,877
Loss on debt extinguishment 0 0 494 0
Gain on tax receivable agreement liability adjustment (99,620) 0 (99,620) 0
Other (income) expense, net (401) 435 421 832
Income (loss) before income taxes 62,241 6,841 (9,223) 25,037
Income tax expense (benefit) 138,103 (8,952) 127,783 (5,274)
Net (loss) income (75,862) 15,793 (137,006) 30,311
Less: net (loss) income attributable to non-controlling interests (2,864) 1,121 (8,697) 5,757
Net (loss) income attributable to Funko, Inc. $ (72,998) $ 14,672 $ (128,309) $ 24,554
(Loss) earnings per share of Class A common stock:        
Basic (in dollars per share) $ (1.54) $ 0.34 $ (2.71) $ 0.58
Diluted (in dollars per share) $ (1.54) $ 0.28 $ (2.71) $ 0.53
Weighted average shares of Class A common stock outstanding:        
Basic (in shares) 47,427,510 43,740,737 47,338,090 42,041,750
Diluted (in shares) 47,427,510 53,823,583 47,338,090 53,976,346
v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Statement of Comprehensive Income [Abstract]        
Net (loss) income $ (75,862) $ 15,793 $ (137,006) $ 30,311
Other comprehensive (loss) income:        
Foreign currency translation (loss) gain, net of tax effect of $(405) and $859 for the three months ended June 30, 2023 and 2022, respectively and $(688) and $1,159 for the six months ended June 30, 2023 and 2022, respectively 1,394 (3,379) 2,448 (4,661)
Comprehensive (loss) income (74,468) 12,414 (134,558) 25,650
Less: Comprehensive (loss) income attributable to non-controlling interests (2,709) 459 (8,426) 4,749
Comprehensive (loss) income attributable to Funko, Inc. $ (71,759) $ 11,955 $ (126,132) $ 20,901
v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Statement of Comprehensive Income [Abstract]        
Foreign currency translation (loss) gain, tax $ (405) $ 859 $ (688) $ 1,159
v3.23.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 36,827 $ 19,200
Accounts receivable, net 137,441 167,895
Inventory 187,311 246,429
Prepaid expenses and other current assets 44,651 39,648
Total current assets 406,230 473,172
Property and equipment, net 104,157 102,232
Operating lease right-of-use assets 66,060 71,072
Goodwill 135,865 131,380
Intangible assets, net 175,314 181,284
Deferred tax asset, net of valuation allowance 0 123,893
Other assets 9,935 8,112
Total assets 897,561 1,091,145
Current liabilities:    
Line of credit 141,000 70,000
Current portion of long-term debt, net of unamortized discount 21,883 22,041
Current portion of operating lease liabilities 18,330 18,904
Accounts payable 81,389 67,651
Income taxes payable 1,341 871
Accrued royalties 53,291 69,098
Accrued expenses and other current liabilities 92,790 112,832
Total current liabilities 410,024 361,397
Long-term debt, net of unamortized discount 142,067 153,778
Operating lease liabilities, net of current portion 76,897 82,356
Deferred tax liability 401 382
Liabilities under tax receivable agreement, net of current portion 0 99,620
Other long-term liabilities 5,420 3,923
Commitments and Contingencies (Note 7)
Stockholders’ equity:    
Additional paid-in-capital 319,531 310,807
Accumulated other comprehensive loss (426) (2,603)
(Accumulated deficit) retained earnings (68,294) 60,015
Total stockholders’ equity attributable to Funko, Inc. 250,816 368,224
Non-controlling interests 11,936 21,465
Total stockholders’ equity 262,752 389,689
Total liabilities and stockholders’ equity 897,561 1,091,145
Class A common shares outstanding    
Stockholders’ equity:    
Common stock, value 5 5
Class B common shares outstanding    
Stockholders’ equity:    
Common stock, value $ 0 $ 0
v3.23.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Jun. 30, 2023
Dec. 31, 2022
Class A common shares outstanding    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 200,000,000 200,000,000
Common stock, shares issued (in shares) 47,497,000 47,192,000
Common stock, shares outstanding (in shares) 47,497,000 47,192,000
Class B common shares outstanding    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 50,000,000 50,000,000
Common stock, shares issued (in shares) 3,293,000 3,293,000
Common stock, shares outstanding (in shares) 3,293,000 3,293,000
v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net (loss) income $ (137,006) $ 30,311
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation, amortization and other 27,851 21,586
Equity-based compensation 8,437 7,322
Amortization of debt issuance costs and debt discounts 607 433
Loss on debt extinguishment 494 0
Gain on tax receivable agreement liability adjustment (99,620) 0
Deferred tax expense 123,206 0
Other (3,124) 2,588
Changes in operating assets and liabilities, net of amounts acquired:    
Accounts receivable, net 33,405 (9,667)
Inventory 61,640 (68,921)
Prepaid expenses and other assets 237 (27,985)
Accounts payable 13,400 57,661
Income taxes payable 559 (15,542)
Accrued royalties (15,807) (9,776)
Accrued expenses and other liabilities (26,315) (18,149)
Net cash used in operating activities (12,036) (30,139)
Investing Activities    
Purchases of property and equipment (22,712) (33,713)
Acquisitions of businesses and related intangible assets, net of cash acquired (5,274) (13,968)
Other 420 61
Net cash used in investing activities (27,566) (47,620)
Financing Activities    
Borrowings on line of credit 71,000 70,000
Debt issuance costs (1,957) 0
Payments of long-term debt (11,258) (9,000)
Distributions to TRA Parties (1,103) (10,224)
Proceeds from exercise of equity-based options 287 559
Net cash provided by financing activities 56,969 51,335
Effect of exchange rates on cash and cash equivalents 260 (942)
Net change in cash and cash equivalents 17,627 (27,366)
Cash and cash equivalents at beginning of period 19,200 83,557
Cash and cash equivalents at end of period $ 36,827 $ 56,191
v3.23.2
Organization and Operations
 6 Months Ended
Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Operations Organization and Operations
The unaudited condensed consolidated financial statements include Funko, Inc. and its subsidiaries (together, the “Company”) and have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). All intercompany balances and transactions have been eliminated.
The Company was formed as a Delaware corporation on April 21, 2017. The Company was formed for the purpose of completing an initial public offering (“IPO”) of its Class A common stock and related transactions in order to carry on the business of Funko Acquisition Holdings, L.L.C. (“FAH, LLC”) and its subsidiaries.
Funko, Inc. operates and controls all of FAH, LLC’s operations and, through FAH, LLC and its subsidiaries, conducts FAH, LLC’s business as the sole managing member. Accordingly, the Company consolidates the financial results of FAH, LLC and reports a non-controlling interest in its unaudited condensed consolidated financial statements representing the common units of FAH, LLC interests still held by other owners of FAH, LLC (collectively, the “Continuing Equity Owners”).
Interim Financial Information
In the opinion of management, all adjustments considered necessary for a fair presentation of the results as of the date of and for the interim periods presented have been included, and such adjustments consist of normal recurring adjustments. Certain prior-year amounts have been reclassified to conform to the current year presentation. The unaudited condensed consolidated results of operations for the current interim period are not necessarily indicative of the results for the entire year ending December 31, 2023, due to seasonality and other factors. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes included in its Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange Commission (“SEC”) on March 1, 2023.
v3.23.2
Significant Accounting Policies
 6 Months Ended
Jun. 30, 2023
Accounting Policies [Abstract]  
Significant Accounting Policies Significant Accounting Policies
Use of Estimates
The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates and assumptions.
Significant Accounting Policies
A description of the Company’s significant accounting policies is included in the audited consolidated financial statements within its Annual Report on Form 10–K for the year ended December 31, 2022.
During the six months ended June 30, 2023, the Company approved an inventory reduction plan to improve U.S. warehouse operational efficiency. The Company recorded a $30.1 million one-time inventory write-down included in cost of sales as presented in the condensed consolidated statements of operations. The physical destruction plan will continue over the third quarter of 2023. The units have been identified and recorded based on an estimate of product costs, associated capitalized freight, net of allocated inventory reserves of the identified units and an estimate of physical destruction costs.
The Company applies the provisions of Accounting Standards Codification (“ASC”) Topic No. 740, “Income Taxes” (“ASC 740”). Under ASC 740, deferred tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company reviews its deferred tax assets for recoverability every quarter and valuation allowances are established when management determines, based on all the available evidence, that it is more likely than not that a deferred asset will not be realized. In reviewing all the available evidence management looks at historical pre-tax income or losses, projected future taxable income or loss, and the expected timing of the reversals of existing temporary differences, as deemed appropriate. In addition, all other available positive and negative evidence is taken into consideration for purposes of determining the proper balances of such valuation allowances. As a result of this review, the Company determined that based on all the available evidence, including the Company’s three-year cumulative pre-tax loss position as of June 30, 2023, it is not more likely than not that the results of operations will generate sufficient taxable income to realize its deferred tax assets. Consequently, the Company established a full valuation allowance of $123.2 million against its deferred tax assets, thus reducing the carrying balance to $0, and recognized a corresponding increase to tax expense in the consolidated statements of operations and comprehensive (loss) income for the three and six months ended June 30, 2023. Future changes to the balances of these valuation allowances, as a result of this continued review and analysis by the Company, could impact the financial statements within the period of change.
Pursuant to the Tax Receivable Agreement (“TRA”), the Company is required to make cash payments to the TRA Parties equal to 85% of the tax benefits, if any, that the Company realizes. Amounts payable under the Tax Receivable Agreement are contingent upon, among other things, (i) generation of taxable income over the term of the Tax Receivable Agreement and (ii) changes in tax laws. If the Company does not generate sufficient taxable income in the aggregate over the term of the Tax Receivable Agreement to utilize the tax benefits, then the Company would not be required to make the related Tax Receivable Agreement Payments, and this would reduce the TRA Liability accordingly.
As a result of the full valuation allowance on the deferred tax assets, and projected inability to fully utilize all or part of the related tax benefits, the Company determined that certain payments to the TRA Parties related to unrealized tax benefits under the TRA are no longer probable and estimable. Based on this assessment, the Company reduced its TRA Liability as of June 30, 2023, to $9.6 million, and recognized a gain of $99.6 million within the accompanying consolidated statements of operations and comprehensive (loss) income for the three and six months ended June 30, 2023. If utilization of the deferred tax assets subject to the TRA becomes more likely than not in the future, the Company will record a liability related to the TRA, which would be recognized as pre-tax expense within the consolidated statements of operations and comprehensive (loss) income.
v3.23.2
Acquisitions
 6 Months Ended
Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Acquisitions Acquisitions
Mondo. On June 8, 2022, the Company acquired 100% of the membership interests in Mondo Tees Buyer, LLC (“Mondo”), a high-end pop culture collectibles company that creates vinyl records, posters, soundtracks, toys, apparel, books, games and other collectibles. This transaction represents an opportunity to expand the Company’s product offerings into posters and other high-end collectibles. The Company accounted for the acquisition as a business combination. The final purchase consideration was $14.0 million in cash.
Goodwill of $5.5 million is calculated as the excess of the purchase price paid over the net assets acquired. The Company does not expect the Goodwill, as recognized, to be deductible for tax purposes. An intangible asset of $7.4 million was recognized for the Mondo trade name, with an estimated life of 10 years.
The activity of Mondo as included in the Company’s consolidated statements of operations from the acquisition date to June 30, 2023 was not material.
The following table shows the final purchase price allocation for the Mondo acquisition as of June 8, 2022:
Cash$37 
Accounts receivable702 
Inventory2,508 
Other current assets2,545 
Intangible assets7,370 
Goodwill5,458 
Current liabilities(4,615)
Consideration transferred$14,004 
v3.23.2
Fair Value Measurements
 6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The Company’s financial instruments, other than those discussed below, include cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities. The carrying amounts of these financial instruments approximate fair value due to the short-term nature of these instruments. For financial instruments measured at fair value on a recurring basis, the Company prioritizes the inputs used in measuring fair value according to a three-tier fair value hierarchy defined by U.S. GAAP. For a description of the methods and assumptions that the Company uses to estimate the fair value and determine the classification according to the fair value hierarchy for each financial instrument, see the Company’s audited consolidated financial statements and related notes included in its Annual Report on Form 10-K for the year ended December 31, 2022.
Cash equivalents. As of June 30, 2023 and December 31, 2022, cash equivalents included $0.5 million, respectively, of highly liquid money market funds, which are classified as Level 1 within the fair value hierarchy.
Crypto asset safeguarding liability and corresponding asset. The crypto asset safeguarding liability and corresponding safeguarding asset are measured and recorded at fair value on a recurring basis using prices available in the market the Company determines to be the principal market at the balance sheet date. As of June 30, 2023 and December 31, 2022, the estimated fair value of the crypto asset safeguarding liability and corresponding asset was $13.2 million and $11.3 million, respectively, classified at Level 1 within the fair value hierarchy.
Debt. The estimated fair value of the Company’s debt instruments, which are classified as Level 3 financial instruments, at June 30, 2023 and December 31, 2022, was approximately $166.2 million and $177.5 million, respectively. The carrying values of the Company’s debt instruments at June 30, 2023 and December 31, 2022, were $164.0 million and $175.8 million, respectively.
v3.23.2
Debt
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Debt Debt
Debt consists of the following (in thousands):
June 30, 2023December 31, 2022
Revolving Credit Facility$141,000 $70,000 
Term Loan Facility$148,500 $157,500 
Equipment Finance Loan17,742 20,000 
Debt issuance costs(2,292)(1,681)
Total term debt163,950 175,819 
Less: current portion
21,883 22,041 
Long-term debt, net$142,067 $153,778 
New Credit Facilities
On September 17, 2021, FAH, LLC and certain of its material domestic subsidiaries from time to time (the “Credit Agreement Parties”) entered into a new credit agreement (as amended from time to time, the “New Credit Agreement”) with JPMorgan Chase Bank, N.A., PNC Bank, National Association, KeyBank National Association, Citizens Bank, N.A., Bank of the West, HSBC Bank USA, National Association, Bank of America, N.A., U.S. Bank National Association, MUFG Union Bank, N.A., and Wells Fargo Bank, National Association (collectively, the “Initial Lenders”) and JPMorgan Chase Bank, N.A. as administrative agent, providing for a term loan facility in the amount of $180.0 million (the “New Term Loan Facility”) and a revolving credit facility of $100.0 million (the “New Revolving Credit Facility”) (together the “New Credit Facilities”). Proceeds from the New Credit Facilities were primarily used to repay and terminate the Company’s former credit facilities. On April 26, 2022, the Credit Agreement Parties entered into Amendment No. 1 to the New Credit Agreement (the “First Amendment”) with the Initial Lenders and JPMorgan Chase Bank, N.A. as administrative agent, which allows for additional Restricted Payments (as defined in the First Amendment) using specified funding sources. On July 29, 2022, the Credit Agreement Parties entered into Amendment No. 2 to the New Credit Agreement (the “Second Amendment”) with the Initial Lenders and Goldman Sachs Bank USA (collectively, the “Lenders”) and JPMorgan Chase Bank, N.A. as administrative agent, which increased the New Revolving Credit Facility to $215.0 million and converted the New Credit Facility interest rate index from Borrower (as defined in the New Credit Agreement) option LIBOR to SOFR.
On February 28, 2023, the Company entered into an Amendment No. 3 (the “Third Amendment”) to the New Credit Agreement to, among other things, (i) modify the financial covenants under the New Credit Agreement for the period beginning on the date of the Third Amendment through the fiscal quarter ending December 31, 2023 (the “Waiver Period”), (ii) reduce the size of the New Revolving Credit Facility from $215.0 million to $180.0 million as of the date of the Third Amendment and thereafter to $150.0 million on December 31, 2023, which reduction shall be permanent after the Waiver Period, (iii) restrict the ability to draw on the New Revolving Credit Facility during the Waiver Period in excess of the amount outstanding on the date of the Third Amendment, (iv) increase the margin payable under the Credit Facilities during the Waiver Period to (a) 4.00% per annum with respect to any Term Benchmark Loan or RFR Loan (each as defined in the New Credit Agreement), and (b) 3.00% per annum with respect to any Canadian Prime Loan or ABR Loan (as defined in the New Credit Agreement), (v) allow that any calculation of Consolidated EBITDA (each as defined in the New Credit Agreement) that includes the fiscal quarters during the Waiver Period may include certain agreed upon amounts for certain addbacks, (vi) further limit our ability to make certain restricted payments, including the ability to pay dividends or make other distributions on equity interests, or redeem, repurchase or retire equity interests, incur additional indebtedness, incur additional liens, enter into sale and leaseback transactions or issue additional equity interests or securities convertible into or exchange for equity interests (other than the issuance of common stock) during the Waiver Period, (vii) require a minimum qualified cash requirement of at least $10.0 million and (viii) require a mandatory prepayment of the New Revolving Credit Facility during the Waiver Period with any qualified cash proceeds in excess of $25.0 million. Following the Waiver Period, beginning in the fiscal quarter ending March 31, 2024, the Third Amendment resets the maximum Net Leverage Ratio and the minimum Fixed Charge Coverage Ratio (each as defined in the New Credit Agreement) that must be maintained by the Credit Agreement Parties to 2.50:1.00 and 1.25:1.00, respectively, which were the ratios in effect under the New Credit Agreement prior to the Third Amendment.
The New Term Loan Facility matures on September 17, 2026 (the “Maturity Date”) and amortizes in quarterly installments in aggregate amounts equal to 2.50% of the original principal amount of the New Term Loan Facility, with any outstanding balance due and payable on the Maturity Date. The first amortization payment commenced with the quarter ending on December 31, 2021. The New Revolving Credit Facility also terminates on the Maturity Date and loans thereunder may be borrowed, repaid, and reborrowed up to such date.
Subject to the interest rates during the Waiver Period as described above, loans under the New Credit Facilities will, at the Borrowers’ option, bear interest at either (i) SOFR, EURIBOR, HIBOR, CDOR, Daily Simple SONIA and/or the Central Bank Rate, as applicable, plus (x) 4.00% per annum and (y) solely in the case of Term SOFR based loans 0.10% per annum or (ii) ABR or the Canadian prime rate, as applicable, plus 3.00%, in each case of clauses (i) and (ii), subject to two 0.25% step-downs based on the achievement of certain leverage ratios following the Closing Date. Each of SOFR, EURIBOR, HIBOR, CDOR and Daily Simple SONIA rates are subject to a —% floor. For loans based on ABR, the Central Bank Rate or the Canadian prime rate, interest payments are due quarterly. For loans based on Daily Simple SONIA, interest payments are due monthly. For loans based on SOFR, EURIBOR, HIBOR or CDOR, interest payments are due at the end of each applicable interest period.
The New Credit Facilities are secured by substantially all of the assets of the Company and any of its existing or future material domestic subsidiaries, subject to customary exceptions. As of June 30, 2023, the Company was in compliance with the modified covenants that were amended pursuant to the Third Amendment and within the Waiver Period and as of December 31, 2022, the Company was in compliance with all of the covenants in its New Credit Agreement.
At June 30, 2023 and December 31, 2022, the Credit Agreement Parties had $148.5 million and $157.5 million, respectively, of borrowings outstanding under the New Term Loan Facility and $141.0 million and $70.0 million outstanding borrowings under the New Revolving Credit Facility, respectively. Outstanding borrowings under the New Revolving Credit Facility at June 30, 2023 are due within 30 days of the applicable draw. At June 30, 2023 and December 31, 2022, the Credit Agreement Parties had $0.0 million and $145.0 million available under the New Revolving Credit Facility, respectively.
There were no outstanding letters of credit as of June 30, 2023 and December 31, 2022.
Equipment Finance Loan
On November 25, 2022, Funko, LLC, Funko Games, LLC, Funko Acquisition Holdings, L.L.C., Funko Holdings LLC and Loungefly, LLC, (collectively, "Equipment Finance Credit Parties"), entered into a $20.0 million equipment finance agreement ("Equipment Finance Loan") with Wells Fargo Equipment Finance, Inc. The loan is to be repaid in 48 monthly equal installments starting January 15, 2023 utilizing an annual fixed interest rate of 5.71%.
The Equipment Finance Loan is secured by certain identified assets held within our Buckeye, Arizona warehouse.
At June 30, 2023 and December 31, 2022, the Company had $17.7 million and $20.0 million outstanding under the Equipment Finance Loan, respectively.
v3.23.2
Liabilities under Tax Receivable Agreement
 6 Months Ended
Jun. 30, 2023
Liabilities Under Tax Receivable Agreement [Abstract]  
Liabilities under Tax Receivable Agreement Liabilities under Tax Receivable Agreement
On November 1, 2017, the Company entered into a tax receivable agreement with FAH, LLC (the “Tax Receivable Agreement”) and each of the Continuing Equity Owners, and certain transferees of the Continuing Equity Owners have been joined as parties to the Tax Receivable Agreement (the parties entitled to payments under the Tax Receivable Agreement are referred to herein as the "TRA Parties") that provides for the payment by the Company to the TRA Parties of 85% of the amount of tax benefits, if any, that it realizes, or in some circumstances, is deemed to realize, as a result of (i) future redemptions funded by the Company or exchanges, or deemed exchanges in certain circumstances, of common units of FAH, LLC for Class A common stock of Funko, Inc. or cash, and (ii) certain additional tax benefits attributable to payments made under the Tax Receivable Agreement (the “TRA Payment”).
There were no common units of FAH, LLC acquired during the three and six months ended June 30, 2023. During the three and six months ended June 30, 2022 the Company acquired 5.8 million and 6.5 million, respectively, common units of FAH, LLC. As a result of these exchanges, during the three and six months ended June 30, 2022, the Company recognized an increase to its net deferred tax assets in the amount of $27.4 million and $29.9 million, respectively.
The following table summarizes changes in the amount of the Company’s Tax Receivable Agreement liability for the three and six months ended June 30, (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Beginning Balance$109,182 $85,556 $109,187 $82,884 
Additional liabilities for exchanges— 27,177 — 29,849 
Liability reduction(99,620)— (99,620)— 
Payments under tax receivable agreement— — (5)— 
Ending balance $9,562 $112,733 $9,562 $112,733 
As of June 30, 2023, the Company’s total obligation under the Tax Receivable Agreement, including accrued interest, was $9.6 million, which was included in accrued expenses and other current liabilities on the unaudited condensed consolidated balance sheets. As of December 31, 2022, the Company’s total obligation under the Tax Receivable Agreement, including accrued interest, was $109.2 million, of which $9.6 million was included in accrued expenses and other current liabilities on the unaudited condensed consolidated balance sheets. As reflected in Note 2. Significant Accounting Policies, the Company determined that payments to the TRA Parties related to unrealized tax benefits under the Tax Receivable Agreement are no longer probable and estimable. Based on this assessment, the Company reduced its Tax Receivable Agreement liability as of June 30, 2023.
v3.23.2
Commitments and Contingencies
 6 Months Ended
Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
License Agreements
The Company enters into license agreements with various licensors of copyrighted and trademarked characters and design in connection with the products that it sells. The agreements generally require royalty payments based on product sales and in some cases may require minimum royalty and other related commitments.
Employment Agreements
The Company has employment agreements with certain officers. The agreements include, among other things, an annual bonus based on certain performance metrics of the Company, as defined by the board of directors, and up to one year’s severance pay beyond termination date.
Debt
The Company is party to a New Credit Agreement which includes a New Term Loan Facility and a New Revolving Credit Facility. The Company is also party to an Equipment Finance Loan. See Note 5, Debt.
Tax Receivable Agreement
The Company is party to the Tax Receivable Agreement that provides for the TRA Payment by the Company to the TRA Parties under certain circumstances. See Note 6, Liabilities under Tax Receivable Agreement.
Leases
The Company has entered into non-cancellable operating leases for office, warehouse, and distribution facilities, with original lease periods expiring through 2032. Some operating leases also contain the option to renew for five-year periods at prevailing market rates at the time of renewal. In addition to minimum rent, certain of the leases require payment of real estate taxes, insurance, common area maintenance charges, and other executory costs.
Legal Contingencies
The Company is involved in claims and litigation in the ordinary course of business, some of which seek monetary damages, including claims for punitive damages, which are not covered by insurance. For certain pending matters, accruals have not been established because such matters have not progressed sufficiently through discovery, and/or development of important factual information and legal information is insufficient to enable the Company to estimate a range of possible loss, if any. An adverse determination in one or more of these pending matters could have an adverse effect on the Company’s consolidated financial position, results of operations or cash flows.
The Company is, and may in the future become, subject to various legal proceedings and claims that arise in or outside the ordinary course of business. For example, several stockholder derivative actions based on the Company’s earnings announcement and Quarterly Report on Form 10-Q for the quarter ended September 30, 2019 have been brought on behalf of the Company against certain of its directors and officers. Specifically, on April 23, June 5, and June 10, 2020, the actions captioned Cassella v. Mariotti et al., Evans v. Mariotti et al., and Igelido v. Mariotti et al., respectively, were filed in the United States District Court for the Central District of California. On July 6, 2020, these three actions were consolidated for all purposes into one action under the title In re Funko, Inc. Derivative Litigation, and on August 13, 2020, the consolidated action was stayed pending final resolution of the motion to dismiss in the Ferreira action. On May 9, 2022, another complaint, asserting substantially similar claims, was filed in the U.S. District Court for the Central District of California, captioned Smith v. Mariotti, et al. On July 5, 2022, two purported stockholders filed an additional derivative action in the Court of Chancery of the State of Delaware, captioned Fletcher, et al. v. Mariotti. The Company has reached a non-monetary settlement in principle in the consolidated action, Smith v. Mariotti, and Fletcher, et al. v. Mariotti and the actions are stayed pending finalization of the settlement.
On June 11, 2021, a purported stockholder filed a related derivative action, captioned Silverberg v. Mariotti, et al., in the Court of Chancery of the State of Delaware. The Company moved to dismiss the Silverberg complaint on April 3, 2023. Plaintiff responded on May 3, 2023, and briefing was completed on May 18, 2023.
Additionally, between November 16, 2017 and June 12, 2018, seven purported stockholders of the Company filed putative class action lawsuits in the Superior Court of Washington in and for King County against the Company, certain of its officers and directors, ACON, Fundamental Capital, LLC and Funko International, LLC (collectively, “Fundamental”), the underwriters of its IPO, and certain other defendants.
On July 2, 2018, the suits were ordered consolidated for all purposes into one action under the title In re Funko, Inc. Securities Litigation. On August 1, 2018, plaintiffs filed a consolidated complaint against the Company, certain of its officers and directors, ACON, Fundamental, and certain other defendants. The Company moved to dismiss twice, and the Court twice granted the Company's motions to dismiss, the second time with prejudice. Plaintiffs appealed, and on November 1, 2021, the Court of Appeals reversed the trial court’s dismissal decision in most respects. On May 4, 2022, the Washington State Supreme Court denied the Company’s petition, and the case was remanded to the Superior Court for further proceedings. The Company filed its answer on September 19, 2022 and discovery is currently ongoing. Plaintiffs filed a motion for class certification on July 7, 2023, and briefing will be completed on the class certification motion on October 25, 2023.
On June 4, 2018, a putative class action lawsuit entitled Kanugonda v. Funko, Inc., et al. was filed in the United States District Court for the Western District of Washington against the Company, certain of its officers and directors, and certain other defendants. On January 4, 2019, a lead plaintiff was appointed in that case. On April 30, 2019, the lead plaintiff filed an amended complaint against the previously named defendants. The Company moved to dismiss the Complaint in the federal action, now captioned Berkelhammer v. Funko, Inc. et al., on June 14, 2023, and briefing is scheduled to be completed on the motion to dismiss on August 18, 2023.
The cases in Washington state court and Berkelhammer v. Funko, Inc. et al. allege that the Company violated Sections 11, 12, and 15 of the Securities Act of 1933, as amended, by making allegedly materially misleading statements in documents filed with the U.S. Securities and Exchange Commission in connection with the Company’s IPO and by omitting material facts necessary to make the statements made therein not misleading. The lawsuits seek, among other things, compensatory statutory damages and rescissory damages in account of the consideration paid for the Company’s Class A common stock by the plaintiffs and members of the putative class, as well as attorneys’ fees and costs.
On January 18, 2022, a purported stockholder filed a putative class action lawsuit in the Court of Chancery of the State of Delaware, captioned Shumacher v. Mariotti, et al., relating to the Company’s corporate “Up-C” structure and bringing direct claims for breach of fiduciary duties against certain current and former officers and directors. On March 31, 2022, the defendants moved to dismiss the action. In response to defendants’ motion to dismiss. Plaintiff filed an Amended Complaint on May 25, 2022. The amendment did not materially change the claims at issue, and the Defendants again moved to dismiss on July 29, 2022. On December 15, 2022, Plaintiff opposed the Defendants’ motion to dismiss, and also moved for attorneys’ fees. Briefing on the motion to dismiss was completed on February 8, 2023; briefing on Plaintiff’s fee application was completed on April 6, 2023. The Court heard oral argument on both motions on July 24, 2023.
On June 2, 2023, a purported stockholder filed a putative class action lawsuit in the United States District Court for the Western District of Washington, captioned Studen v. Funko, Inc., et al.. The Complaint alleges that the Company and certain individual defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as well as Rule 10b-5 promulgated thereunder by making allegedly materially misleading statements in documents filed with the SEC, as well as in earnings calls and presentations to investors, regarding a planned upgrade to its enterprise resource planning system and the relocation of a distribution center, as well as by omitting material facts about the same subjects necessary to make the statements made therein not misleading. The lawsuits seek, among other things, compensatory damages and attorneys’ fees and costs. The parties have agreed that the Company is not required to respond to the complaint until after a lead plaintiff is appointed by the Court.
The Company is party to additional legal proceedings incidental to its business. While the outcome of these additional matters could differ from management’s expectations, the Company does not believe that the resolution of such matters is reasonably likely to have a material effect on its results of operations or financial condition.
v3.23.2
Segments
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Segments Segments
The Company identifies its segments according to how the business activities are managed and evaluated and for which discrete financial information is available and regularly reviewed by its Chief Operating Decision Maker (the “CODM”) to allocate resources and assess performance. Because its CODM reviews financial performance and allocates resources at a consolidated level on a regular basis, the Company has one segment.
The following table presents summarized product information as a percent of sales:
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Core Collectible72.4 %73.8 %72.6 %75.7 %
Loungefly20.8 %22.2 %20.8 %19.2 %
Other6.8 %4.0 %6.6 %5.1 %
The following tables present summarized geographical information (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Net sales:
United States$171,219 $231,196 $349,004 $463,361 
Europe50,495 63,392 109,831 120,449 
Other International18,314 21,128 33,071 40,249 
Total net sales$240,028 $315,716 $491,906 $624,059 
June 30, 2023December 31, 2022
Long-term assets:
United States$126,481 $131,549 
United Kingdom20,570 21,056 
Vietnam and China33,101 28,811 
Total long-lived assets$180,152 $181,416 
v3.23.2
Income Taxes
 6 Months Ended
Jun. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Funko, Inc. is taxed as a corporation and pays corporate federal, state and local taxes on income allocated to it from FAH, LLC based upon Funko, Inc.’s economic interest held in FAH, LLC. FAH, LLC is treated as a pass-through partnership for income tax reporting purposes. FAH, LLC’s members, including the Company, are liable for federal, state and local income taxes based on their share of FAH, LLC’s pass-through taxable income.
The Company recorded income tax expense of $138.1 million and $127.8 million for the three and six months ended June 30, 2023, respectively and an income tax benefit of $9.0 million and $5.3 million for the three and six months ended June 30, 2022, respectively. As reflected in Note 2. Significant Accounting Policies, the Company established a full valuation allowance of $123.2 million against its deferred tax assets. The Company’s effective tax rate for the six months ended June 30, 2023 was (1385.5)%. The Company’s effective tax rate differs from the statutory rate of 21% primarily due to the establishment of the valuation allowance as of June 30, 2023.

The Company is party to the Tax Receivable Agreement that provides for the TRA Payment by the Company to the TRA Parties under certain circumstances. See Note 6, Liabilities under Tax Receivable Agreement.
v3.23.2
Stockholders’ Equity
 6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
Stockholders' Equity Stockholders’ EquityThe following is a reconciliation of changes in stockholders’ equity for the three and six months ended June 30, 2023 and 2022:
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
(In thousands)
Class A common stock
Beginning balance$5 $4 $5 $4 
Shares issued— 1 — 1 
Ending balance$5 $5 $5 $5 
Class B common stock
Beginning balance$— $1 $— $1 
Redemption of common units of FAH, LLC— (1)— (1)
Ending balance$— $— $— $— 
Additional paid-in capital
Beginning balance$314,537 $260,090 $310,807 $252,505 
Equity-based compensation4,795 3,953 8,437 7,322 
Shares issued for equity-based compensation awards199 482 287 559 
Redemption of common units of FAH, LLC— 33,678 — 37,901 
Recapitalization of FAH, LLC— 5,873 — 5,873 
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets— 182 — 98 
Ending balance$319,531 $304,258 $319,531 $304,258 
Accumulated other comprehensive (loss) income
Beginning balance$(1,665)$142 $(2,603)$1,078 
Foreign currency translation (loss) gain, net of tax1,239 (2,717)2,177 (3,653)
Ending balance$(426)$(2,575)$(426)$(2,575)
(Accumulated deficit) retained earnings
Beginning balance$4,704 $77,932 $60,015 $68,050 
Net (loss) income attributable to Funko, Inc.(72,998)14,672 (128,309)24,554 
Ending balance$(68,294)$92,604 $(68,294)$92,604 
Non-controlling interests
Beginning balance$15,748 $71,579 $21,465 $74,920 
Distributions to TRA Parties(1,103)(6,816)(1,103)(10,224)
Redemption of common units of FAH, LLC— (33,678)— (37,901)
Recapitalization of FAH, LLC— (5,873)— (5,873)
Foreign currency translation (loss) gain, net of tax155 (662)271 (1,008)
Net (loss) income attributable to non-controlling interests(2,864)1,121 (8,697)5,757 
Ending balance$11,936 $25,671 $11,936 $25,671 
Total stockholders’ equity$262,752 $419,963 $262,752 $419,963 
The following is a reconciliation of changes in Class A and Class B common shares outstanding for the three and six months ended June 30, 2023 and 2022:
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
(In thousands)
Class A common shares outstanding
Beginning balance47,326 40,797 47,192 40,088 
Shares issued for equity-based compensation awards
171 223 305 248 
Redemption of common units of FAH, LLC— 5,812 — 6,496 
Ending balance47,497 46,832 47,497 46,832 
Class B common shares outstanding
Beginning balance3,293 10,007 3,293 10,691 
Redemption of common units of FAH, LLC— (5,804)— (6,488)
Recapitalization of Class B common shares— (910)— (910)
Ending balance3,293 3,293 3,293 3,293 
Total Class A and Class B common shares outstanding
50,790 50,125 50,790 50,125 
v3.23.2
Non-controlling interests
 6 Months Ended
Jun. 30, 2023
Noncontrolling Interest [Abstract]  
Non-controlling interests Non-controlling interests
Funko, Inc. is the sole managing member of FAH, LLC and as a result consolidates the financial results of FAH, LLC and reports a non-controlling interest representing the common units of FAH, LLC held by the Continuing Equity Owners. Changes in Funko, Inc.’s ownership interest in FAH, LLC while Funko, Inc. retains its controlling interest in FAH, LLC will be accounted for as equity transactions. As such, future redemptions or direct exchanges of common units of FAH, LLC by the Continuing Equity Owners will result in a change in ownership and reduce the amount recorded as non-controlling interest and increase or decrease additional paid-in capital when FAH, LLC has positive or negative net assets, respectively.
Net (loss) income and comprehensive (loss) income are attributed between Funko, Inc. and non-controlling interest holders based on each party’s relative economic ownership interest in FAH, LLC. As of June 30, 2023 and December 31, 2022, Funko, Inc. owned 47.5 million and 47.2 million of FAH, LLC common units, respectively, representing a 91.4% and 91.6% economic ownership interest in FAH, LLC, respectively.
Net (loss) income and comprehensive (loss) income of FAH, LLC excludes certain activity attributable to Funko, Inc., including equity-based compensation expense for share-based compensation awards issued by Funko, Inc., income tax (benefit) expense for corporate, federal, state and local taxes attributable to Funko, Inc. and tax receivable agreement liability adjustments. The following represents the amounts excluded from the computation of net (loss) income and comprehensive (loss) income of FAH, LLC for the three and six months ended June 30, 2023 and 2022:
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
(In thousands)
Funko, Inc.
Equity-based compensation$4,795 $3,953 $8,437 $7,322 
Income tax expense (benefit)$134,174 $(9,683)$123,206 $(6,675)
Tax receivable agreement liability adjustment$(99,620)$— $(99,620)$— 
v3.23.2
Earnings per Share
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Earnings per Share Earnings per Share
Basic (loss) earnings per share of Class A common stock is computed by dividing net (loss) income attributable to Funko, Inc. by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted (loss) earnings per share of Class A common stock is computed by dividing net (loss) income attributable to Funko, Inc. by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities.
The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted (loss) earnings per share of Class A common stock (in thousands, except shares and per share amounts):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Numerator:
Net (loss) income$(75,862)$15,793 $(137,006)$30,311 
Less: net (loss) income attributable to non-controlling interests(2,864)1,121 (8,697)5,757 
Net income attributable to Funko, Inc. — basic$(72,998)$14,672 $(128,309)$24,554 
Add: Reallocation of net (loss) income attributable to non-controlling interests from the assumed exchange of common units of FAH, LLC for Class A common stock— 619 — 4,206 
Net (loss) income attributable to Funko, Inc. — diluted$(72,998)$15,291 $(128,309)$28,760 
Denominator:
Weighted-average shares of Class A common stock outstanding — basic47,427,510 43,740,737 47,338,090 42,041,750 
Add: Dilutive common units of FAH, LLC that are convertible into Class A common stock
— 7,847,603 — 9,794,925 
Add: Dilutive Funko, Inc. equity compensation awards
— 2,235,243 — 2,139,671 
Weighted-average shares of Class A common stock outstanding — diluted47,427,510 53,823,583 47,338,090 53,976,346 
(Loss) earnings per share of Class A common stock — basic$(1.54)$0.34 $(2.71)$0.58 
(Loss) earnings per share of Class A common stock — diluted$(1.54)$0.28 $(2.71)$0.53 
For the three months ended June 30, 2023 and 2022, an aggregate of 10.9 million and 2.2 million, respectively, and for the six months ended June 30, 2023 and 2022, an aggregate of 10.7 million and 2.0 million, respectively, of potentially dilutive securities were excluded from the weighted-average in the computation of diluted earnings per share of Class A common stock because the effect would have been anti-dilutive. For the three and six months ended June 30, 2023, there were 4.4 million common units of FAH, LLC that are convertible into Class A common stock, and, excluded from the computations of diluted (loss) earnings per share because the effect would have been anti-dilutive under the if-converted method. For the three and six months ended June 30, 2022, there were no common units of FAH, LLC that were excluded from the calculations of diluted earnings per share.
Shares of the Company’s Class B common stock do not participate in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class B common stock under the two-class method has not been presented.
v3.23.2
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Pay vs Performance Disclosure        
Net (loss) income attributable to Funko, Inc. $ (72,998) $ 14,672 $ (128,309) $ 24,554
v3.23.2
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2023
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.23.2
Significant Accounting Policies (Policies)
 6 Months Ended
Jun. 30, 2023
Accounting Policies [Abstract]  
Use of Estimates
Use of Estimates
The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates and assumptions.
v3.23.2
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Summary of Purchase Price Allocations
The following table shows the final purchase price allocation for the Mondo acquisition as of June 8, 2022:
Cash$37 
Accounts receivable702 
Inventory2,508 
Other current assets2,545 
Intangible assets7,370 
Goodwill5,458 
Current liabilities(4,615)
Consideration transferred$14,004 
v3.23.2
Debt (Tables)
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Summary of Debt Debt consists of the following (in thousands):
June 30, 2023December 31, 2022
Revolving Credit Facility$141,000 $70,000 
Term Loan Facility$148,500 $157,500 
Equipment Finance Loan17,742 20,000 
Debt issuance costs(2,292)(1,681)
Total term debt163,950 175,819 
Less: current portion
21,883 22,041 
Long-term debt, net$142,067 $153,778 
v3.23.2
Liabilities under Tax Receivable Agreement (Tables)
 6 Months Ended
Jun. 30, 2023
Liabilities Under Tax Receivable Agreement [Abstract]  
Summary of Tax Receivable Agreement Liability
The following table summarizes changes in the amount of the Company’s Tax Receivable Agreement liability for the three and six months ended June 30, (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Beginning Balance$109,182 $85,556 $109,187 $82,884 
Additional liabilities for exchanges— 27,177 — 29,849 
Liability reduction(99,620)— (99,620)— 
Payments under tax receivable agreement— — (5)— 
Ending balance $9,562 $112,733 $9,562 $112,733 
v3.23.2
Segments (Tables)
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Summary of Main Product Categories as Percent of Sales The following table presents summarized product information as a percent of sales:
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Core Collectible72.4 %73.8 %72.6 %75.7 %
Loungefly20.8 %22.2 %20.8 %19.2 %
Other6.8 %4.0 %6.6 %5.1 %
Summary of Net Sales and Long-Lived Assets
The following tables present summarized geographical information (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Net sales:
United States$171,219 $231,196 $349,004 $463,361 
Europe50,495 63,392 109,831 120,449 
Other International18,314 21,128 33,071 40,249 
Total net sales$240,028 $315,716 $491,906 $624,059 
June 30, 2023December 31, 2022
Long-term assets:
United States$126,481 $131,549 
United Kingdom20,570 21,056 
Vietnam and China33,101 28,811 
Total long-lived assets$180,152 $181,416 
v3.23.2
Stockholders’ Equity (Tables)
 6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
Summary Of Reconciliation of Changes in Stockholders' Equity The following is a reconciliation of changes in stockholders’ equity for the three and six months ended June 30, 2023 and 2022:
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
(In thousands)
Class A common stock
Beginning balance$5 $4 $5 $4 
Shares issued— 1 — 1 
Ending balance$5 $5 $5 $5 
Class B common stock
Beginning balance$— $1 $— $1 
Redemption of common units of FAH, LLC— (1)— (1)
Ending balance$— $— $— $— 
Additional paid-in capital
Beginning balance$314,537 $260,090 $310,807 $252,505 
Equity-based compensation4,795 3,953 8,437 7,322 
Shares issued for equity-based compensation awards199 482 287 559 
Redemption of common units of FAH, LLC— 33,678 — 37,901 
Recapitalization of FAH, LLC— 5,873 — 5,873 
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets— 182 — 98 
Ending balance$319,531 $304,258 $319,531 $304,258 
Accumulated other comprehensive (loss) income
Beginning balance$(1,665)$142 $(2,603)$1,078 
Foreign currency translation (loss) gain, net of tax1,239 (2,717)2,177 (3,653)
Ending balance$(426)$(2,575)$(426)$(2,575)
(Accumulated deficit) retained earnings
Beginning balance$4,704 $77,932 $60,015 $68,050 
Net (loss) income attributable to Funko, Inc.(72,998)14,672 (128,309)24,554 
Ending balance$(68,294)$92,604 $(68,294)$92,604 
Non-controlling interests
Beginning balance$15,748 $71,579 $21,465 $74,920 
Distributions to TRA Parties(1,103)(6,816)(1,103)(10,224)
Redemption of common units of FAH, LLC— (33,678)— (37,901)
Recapitalization of FAH, LLC— (5,873)— (5,873)
Foreign currency translation (loss) gain, net of tax155 (662)271 (1,008)
Net (loss) income attributable to non-controlling interests(2,864)1,121 (8,697)5,757 
Ending balance$11,936 $25,671 $11,936 $25,671 
Total stockholders’ equity$262,752 $419,963 $262,752 $419,963 
Summary Of Reconciliation of Changes in Class A and Class B Common Shares Outstanding The following is a reconciliation of changes in Class A and Class B common shares outstanding for the three and six months ended June 30, 2023 and 2022:
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
(In thousands)
Class A common shares outstanding
Beginning balance47,326 40,797 47,192 40,088 
Shares issued for equity-based compensation awards
171 223 305 248 
Redemption of common units of FAH, LLC— 5,812 — 6,496 
Ending balance47,497 46,832 47,497 46,832 
Class B common shares outstanding
Beginning balance3,293 10,007 3,293 10,691 
Redemption of common units of FAH, LLC— (5,804)— (6,488)
Recapitalization of Class B common shares— (910)— (910)
Ending balance3,293 3,293 3,293 3,293 
Total Class A and Class B common shares outstanding
50,790 50,125 50,790 50,125 
v3.23.2
Non-controlling interests (Tables)
 6 Months Ended
Jun. 30, 2023
Noncontrolling Interest [Abstract]  
Schedule of Amounts Excluded from the Computation of Net Income (Loss) and Comprehensive Income (Loss) of FAH, LLC The following represents the amounts excluded from the computation of net (loss) income and comprehensive (loss) income of FAH, LLC for the three and six months ended June 30, 2023 and 2022:
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
(In thousands)
Funko, Inc.
Equity-based compensation$4,795 $3,953 $8,437 $7,322 
Income tax expense (benefit)$134,174 $(9,683)$123,206 $(6,675)
Tax receivable agreement liability adjustment$(99,620)$— $(99,620)$— 
v3.23.2
Earnings per Share (Tables)
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Schedule of Reconciliations of Numerators and Denominators Used to Compute Basic and Diluted Earnings Per Share The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted (loss) earnings per share of Class A common stock (in thousands, except shares and per share amounts):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Numerator:
Net (loss) income$(75,862)$15,793 $(137,006)$30,311 
Less: net (loss) income attributable to non-controlling interests(2,864)1,121 (8,697)5,757 
Net income attributable to Funko, Inc. — basic$(72,998)$14,672 $(128,309)$24,554 
Add: Reallocation of net (loss) income attributable to non-controlling interests from the assumed exchange of common units of FAH, LLC for Class A common stock— 619 — 4,206 
Net (loss) income attributable to Funko, Inc. — diluted$(72,998)$15,291 $(128,309)$28,760 
Denominator:
Weighted-average shares of Class A common stock outstanding — basic47,427,510 43,740,737 47,338,090 42,041,750 
Add: Dilutive common units of FAH, LLC that are convertible into Class A common stock
— 7,847,603 — 9,794,925 
Add: Dilutive Funko, Inc. equity compensation awards
— 2,235,243 — 2,139,671 
Weighted-average shares of Class A common stock outstanding — diluted47,427,510 53,823,583 47,338,090 53,976,346 
(Loss) earnings per share of Class A common stock — basic$(1.54)$0.34 $(2.71)$0.58 
(Loss) earnings per share of Class A common stock — diluted$(1.54)$0.28 $(2.71)$0.53 
v3.23.2
Significant Accounting Policies (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Nov. 01, 2017
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Mar. 31, 2023
Dec. 31, 2022
Mar. 31, 2022
Dec. 31, 2021
Accounting Policies [Abstract]                  
Inventory write-down       $ 30,100          
Decrease in deferred tax asset valuation allowance   $ 123,200   123,200          
Deferred tax assets, valuation allowance   0   0          
Percentage of tax benefit paid to equity owner 85.00%                
Liability reduction   99,620 $ 0 99,620 $ 0        
Obligations under tax receivable agreement   $ 9,562 $ 112,733 $ 9,562 $ 112,733 $ 109,182 $ 109,187 $ 85,556 $ 82,884
v3.23.2
Acquisitions - Narrative (Details) - USD ($)
$ in Thousands
Jun. 08, 2022
Jun. 30, 2023
Dec. 31, 2022
Business Acquisition [Line Items]      
Goodwill   $ 135,865 $ 131,380
Mondo      
Business Acquisition [Line Items]      
Percentage of voting interests acquired 100.00%    
Cash consideration paid $ 14,000    
Goodwill 5,458 5,500  
Intangible assets $ 7,370 $ 7,400  
Estimated useful life (in years ) 10 years    
v3.23.2
Acquisitions - Summary of Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Jun. 08, 2022
Business Acquisition [Line Items]      
Goodwill $ 135,865 $ 131,380  
Mondo      
Business Acquisition [Line Items]      
Cash     $ 37
Accounts receivable     702
Inventory     2,508
Other current assets     2,545
Intangible assets 7,400   7,370
Goodwill $ 5,500   5,458
Current liabilities     (4,615)
Consideration transferred     $ 14,004
v3.23.2
Fair Value Measurements - Additional Information (Detail) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents $ 0.5 $ 0.5
Level 1 | Fair Value, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Safeguarding liability 13.2 11.3
Crypto asset safeguarding asset 13.2 11.3
Level 3 | Estimate of Fair Value Measurement    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Estimated fair value of debt instruments 166.2 177.5
Secured debt $ 164.0 $ 175.8
v3.23.2
Debt - Summary of Debt (Detail) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Nov. 25, 2022
Debt Instrument [Line Items]      
Line of credit $ 141,000 $ 70,000  
Debt issuance costs (2,292) (1,681)  
Total term debt 163,950 175,819  
Less: current portion 21,883 22,041  
Long-term debt, net 142,067 153,778  
Equipment Finance Loan | Loans Payable      
Debt Instrument [Line Items]      
Equipment Finance Loan 17,742 20,000 $ 20,000
Revolving Credit Facility      
Debt Instrument [Line Items]      
Line of credit 141,000 70,000  
Term Loan Facility      
Debt Instrument [Line Items]      
Secured debt $ 148,500 $ 157,500  
v3.23.2
Debt - Additional Information (Detail)
Feb. 28, 2023
USD ($)
Nov. 25, 2022
USD ($)
Sep. 17, 2021
USD ($)
step_down
Dec. 31, 2023
USD ($)
Jun. 30, 2023
USD ($)
Feb. 27, 2023
USD ($)
Dec. 31, 2022
USD ($)
Jul. 29, 2022
USD ($)
Debt Instrument [Line Items]                
Number of spread | step_down     2          
Line of credit         $ 141,000,000   $ 70,000,000  
S O N I A Rate                
Debt Instrument [Line Items]                
Interest rate margins     4.00%          
Prime Rate                
Debt Instrument [Line Items]                
Interest rate margins     3.00%          
Step down percent     0.25%          
Interest rate of borrowings     0.00%          
Revolving Credit Facility                
Debt Instrument [Line Items]                
Line of credit         141,000,000   70,000,000  
Term Loan Facility                
Debt Instrument [Line Items]                
Outstanding borrowings         148,500,000   157,500,000  
Revolving Credit Facility                
Debt Instrument [Line Items]                
Line of credit         141,000,000   70,000,000  
Letters of Credit                
Debt Instrument [Line Items]                
Line of credit         0   0  
Secured Debt                
Debt Instrument [Line Items]                
Debt instrument, face amount     $ 180,000,000          
Long term debt maturity percentage first and second year     2.50%          
Line of Credit | Revolving Credit Facility                
Debt Instrument [Line Items]                
Line of credit     $ 100,000,000     $ 215,000,000   $ 215,000,000
Remaining borrowing capacity         0   145,000,000  
Line of Credit | Revolving Credit Facility | SOFR                
Debt Instrument [Line Items]                
Interest rate margins     0.10%          
Line of Credit | Revolving Credit Facility | Third Amendment                
Debt Instrument [Line Items]                
Line of credit $ 180,000,000              
Cash requirement, minimum 10,000,000              
Mandatory repayment, proceeds threshold $ 25,000,000              
Net leverage ratio 2.50              
Debt Instrument fixed charge coverage ratio 1.25              
Line of Credit | Revolving Credit Facility | Third Amendment | Forecast                
Debt Instrument [Line Items]                
Line of credit       $ 150,000,000        
Line of Credit | Revolving Credit Facility | Term Benchmark Loan Or RFR Loan                
Debt Instrument [Line Items]                
Interest rate margins 4.00%              
Line of Credit | Revolving Credit Facility | Canadian Prime Loan Or ABR Loan | Prime Rate                
Debt Instrument [Line Items]                
Interest rate margins 3.00%              
Loans Payable | Equipment Finance Loan                
Debt Instrument [Line Items]                
Interest rate of borrowings   5.71%            
Long-term debt, gross   $ 20,000,000     $ 17,742,000   $ 20,000,000  
Debt instrument term   48 months            
v3.23.2
Liabilities under Tax Receivable Agreement - Additional Information (Detail) - USD ($)
$ in Thousands, shares in Millions
 3 Months Ended 6 Months Ended
Nov. 01, 2017
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Mar. 31, 2023
Dec. 31, 2022
Mar. 31, 2022
Dec. 31, 2021
Liabilities Under Tax Receivable Agreement [Line Items]                  
Percentage of tax benefit paid to equity owner 85.00%                
Obligations under tax receivable agreement   $ 9,562 $ 112,733 $ 9,562 $ 112,733 $ 109,182 $ 109,187 $ 85,556 $ 82,884
Accrued Expenses and Other Current Liabilities                  
Liabilities Under Tax Receivable Agreement [Line Items]                  
Obligations under tax receivable agreement             $ 9,600    
FAH, LLC                  
Liabilities Under Tax Receivable Agreement [Line Items]                  
Common units acquired (in shares)   0.0 5.8 0.0 6.5        
Increase in deferred tax assets     $ 27,400   $ 29,900        
v3.23.2
Liabilities under Tax Receivable Agreement - Schedule of Liability Activity (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Liabilities Under Tax Receivable Agreement [Roll Forward]        
Beginning Balance $ 109,182 $ 85,556 $ 109,187 $ 82,884
Additional liabilities for exchanges 0 27,177 0 29,849
Gain on tax receivable agreement liability adjustment (99,620) 0 (99,620) 0
Payments under tax receivable agreement 0 0 (5) 0
Ending balance $ 9,562 $ 112,733 $ 9,562 $ 112,733
v3.23.2
Commitments and Contingencies (Detail)
 2 Months Ended 6 Months Ended 7 Months Ended
Jul. 05, 2022
stockholder
Jul. 06, 2020
lawsuit
Jul. 02, 2018
lawsuit
Jun. 10, 2020
lawsuit
Jun. 30, 2023
Jun. 12, 2018
stockholder
Lessee, Lease, Description [Line Items]            
Severance payment period (up to)         1 year  
Number of plaintiffs           7
Cassella v. Mariotti et al., Evans v. Mariotti et al., and Igelido v. Mariotti et al.            
Lessee, Lease, Description [Line Items]            
Number of additional putative class action lawsuits filed | lawsuit   1 1 3    
Fletcher, et al. v. Mariotti            
Lessee, Lease, Description [Line Items]            
Number of plaintiffs 2          
Funko Acquisition Holdings, L.L.C.            
Lessee, Lease, Description [Line Items]            
Operating leases, renewal term         5 years  
v3.23.2
Segments - Additional Information (Detail)
 6 Months Ended
Jun. 30, 2023
segment
Segment Reporting [Abstract]  
Number of reportable segments 1
v3.23.2
Segments - Summary of Main Product Categories as Percent of Sales (Detail) - Sales Revenue - Product Concentration Risk
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Core Collectible        
Schedule of Property and Equipment Net by Country [Line Items]        
Percent of sales 72.40% 73.80% 72.60% 75.70%
Loungefly        
Schedule of Property and Equipment Net by Country [Line Items]        
Percent of sales 20.80% 22.20% 20.80% 19.20%
Other        
Schedule of Property and Equipment Net by Country [Line Items]        
Percent of sales 6.80% 4.00% 6.60% 5.10%
v3.23.2
Segments - Summary of Net Sales and Long-Lived Assets (Detail) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Segment Reporting Information [Line Items]          
Net sales $ 240,028 $ 315,716 $ 491,906 $ 624,059  
Total long-lived assets 180,152   180,152   $ 181,416
United States          
Segment Reporting Information [Line Items]          
Net sales 171,219 231,196 349,004 463,361  
Total long-lived assets 126,481   126,481   131,549
Europe          
Segment Reporting Information [Line Items]          
Net sales 50,495 63,392 109,831 120,449  
Other International          
Segment Reporting Information [Line Items]          
Net sales 18,314 $ 21,128 33,071 $ 40,249  
United Kingdom          
Segment Reporting Information [Line Items]          
Total long-lived assets 20,570   20,570   21,056
Vietnam and China          
Segment Reporting Information [Line Items]          
Total long-lived assets $ 33,101   $ 33,101   $ 28,811
v3.23.2
Income Taxes (Detail) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Tax Disclosure [Abstract]        
Income tax (benefit) expense $ 138,103 $ (8,952) $ 127,783 $ (5,274)
Decrease in deferred tax asset valuation allowance $ 123,200   $ 123,200  
Effective income tax rate     (1385.50%)  
v3.23.2
Stockholders' Equity - Reconciliation of Changes in Stockholders' Equity (Detail) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning balance     $ 389,689  
Foreign currency translation (loss) gain, net of tax $ 1,394 $ (3,379) 2,448 $ (4,661)
Net (loss) income (75,862) 15,793 (137,006) 30,311
Ending balance 262,752 419,963 262,752 419,963
Common Stock | Class A common stock        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning balance 5 4 5 4
Shares issued 0 1 0 1
Ending balance 5 5 5 5
Common Stock | Class B common stock        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning balance 0 1 0 1
Redemption of common units of FAH, LLC 0 (1) 0 (1)
Ending balance 0 0 0 0
Additional paid-in capital        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning balance 314,537 260,090 310,807 252,505
Equity-based compensation 4,795 3,953 8,437 7,322
Shares issued for equity-based compensation awards 199 482 287 559
Redemption of common units of FAH, LLC 0 33,678 0 37,901
Recapitalization of FAH, LLC 0 5,873 0 5,873
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets 0 182 0 98
Ending balance 319,531 304,258 319,531 304,258
Accumulated other comprehensive (loss) income        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning balance (1,665) 142 (2,603) 1,078
Foreign currency translation (loss) gain, net of tax 1,239 (2,717) 2,177 (3,653)
Ending balance (426) (2,575) (426) (2,575)
(Accumulated deficit) retained earnings        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning balance 4,704 77,932 60,015 68,050
Net (loss) income (72,998) 14,672 (128,309) 24,554
Ending balance (68,294) 92,604 (68,294) 92,604
Non-controlling interests        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning balance 15,748 71,579 21,465 74,920
Redemption of common units of FAH, LLC 0 (33,678) 0 (37,901)
Recapitalization of FAH, LLC 0 (5,873) 0 (5,873)
Distributions to TRA Parties (1,103) (6,816) (1,103) (10,224)
Foreign currency translation (loss) gain, net of tax 155 (662) 271 (1,008)
Net (loss) income (2,864) 1,121 (8,697) 5,757
Ending balance $ 11,936 $ 25,671 $ 11,936 $ 25,671
v3.23.2
Stockholders' Equity - Reconciliation of Changes in Class A and Class B Common Shares Outstanding (Detail) - shares
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Class A common stock        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Common stock, shares outstanding (in shares) 47,326,000 40,797,000 47,192,000 40,088,000
Shares issued for equity-based compensation awards (in shares) 171,000 223,000 305,000 248,000
Redemption of common units of FAH, LLC (in shares) 0 5,812,000 0 6,496,000
Common shares outstanding (in shares) 47,497,000 46,832,000 47,497,000 46,832,000
Class B common stock        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Common stock, shares outstanding (in shares) 3,293,000 10,007,000 3,293,000 10,691,000
Redemption of common units of FAH, LLC (in shares) 0 5,804,000 0 6,488,000
Recapitalization of Class B common shares (in shares) 0 (910,000) 0 (910,000)
Common shares outstanding (in shares) 3,293,000 3,293,000 3,293,000 3,293,000
Class A and Class B common shares outstanding        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Common shares outstanding (in shares) 50,790,000 50,125,000 50,790,000 50,125,000
v3.23.2
Non-controlling interests - Additional Information (Detail) - shares
 6 Months Ended 12 Months Ended
Jun. 30, 2023
Dec. 31, 2022
Mar. 31, 2023
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
FAH, LLC            
Noncontrolling Interest [Line Items]            
Ownership percentage 91.40% 91.60%        
Class A common shares outstanding            
Noncontrolling Interest [Line Items]            
Common stock, shares outstanding (in shares) 47,497,000 47,192,000 47,326,000 46,832,000 40,797,000 40,088,000
Class A common shares outstanding | FAH, LLC            
Noncontrolling Interest [Line Items]            
Common stock, shares outstanding (in shares) 47,500,000 47,200,000        
v3.23.2
Non-controlling interests (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Noncontrolling Interest [Line Items]        
Income tax expense (benefit) $ 138,103 $ (8,952) $ 127,783 $ (5,274)
Tax receivable agreement liability adjustment (99,620) 0 (99,620) 0
Funko Acquisition Holdings, L.L.C.        
Noncontrolling Interest [Line Items]        
Equity-based compensation 4,795 3,953 8,437 7,322
Income tax expense (benefit) $ 134,174 $ (9,683) $ 123,206 $ (6,675)
v3.23.2
Earnings per Share - Schedule of Reconciliations of Numerators and Denominators Used to Compute Basic and Diluted Earnings Per Share (Detail) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Numerator:        
Net (loss) income $ (75,862) $ 15,793 $ (137,006) $ 30,311
Less: net (loss) income attributable to non-controlling interests (2,864) 1,121 (8,697) 5,757
Net income attributable to Funko, Inc. — basic (72,998) 14,672 (128,309) 24,554
Add: Reallocation of net (loss) income attributable to non-controlling interests from the assumed exchange of common units of FAH, LLC for Class A common stock 0 619 0 4,206
Net (loss) income attributable to Funko, Inc. — diluted $ (72,998) $ 15,291 $ (128,309) $ 28,760
Denominator:        
Weighted-average shares of Class A common stock outstanding — basic (in shares) 47,427,510 43,740,737 47,338,090 42,041,750
Add: Dilutive common units of FAH, LLC that are convertible into Class A common stock (in shares) 0 7,847,603 0 9,794,925
Add: Dilutive Funko, Inc. equity compensation awards (in shares) 0 2,235,243 0 2,139,671
Weighted-average shares of Class A common stock outstanding — diluted (in shares) 47,427,510 53,823,583 47,338,090 53,976,346
(Loss) earnings per share of Class A common stock — basic (in dollars per share) $ (1.54) $ 0.34 $ (2.71) $ 0.58
(Loss) earnings per share of Class A common stock — diluted (in dollars per share) $ (1.54) $ 0.28 $ (2.71) $ 0.53
v3.23.2
Earnings per Share - Additional Information (Detail) - Class A common shares outstanding - shares
shares in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]        
Anti-dilutive shares excluded from weighted-average in computation of diluted earnings per share (in shares) 10.9 2.2 10.7 2.0
Funko Acquisition Holdings, L.L.C.        
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]        
Anti-dilutive shares excluded from weighted-average in computation of diluted earnings per share (in shares)   0.0 4.4 0.0