Funko, Inc. (NASDAQ:FNKO) Q1 2022 Earnings Conference Call May 5, 2022 4:30 PM ET

Company Participants

Ben Avenia-Tapper - Director of Investor Relations

Andrew Perlmutter - Chief Executive Officer & Director

Jennifer Fall Jung - Chief Financial Officer

Conference Call Participants

Stephanie Wissink - Jefferies

Megan Alexander - JPMorgan

Operator

Good afternoon, and welcome to Funko's Conference Call to discuss Financial Results for the First Quarter of 2022. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. Please be advised that, reproduction of this call in whole or in part is not permitted without written authorization from the company. As a reminder, this call is being recorded.

I will now turn the call over to Ben Avenia-Tapper, Director of Investor Relations to get started. Please proceed.

Ben Avenia-Tapper

Thank you, and good afternoon. With us on the call today are Andrew Perlmutter, Chief Executive Officer; and Jennifer Fall Jung, Chief Financial Officer.

Before we begin, I'd like to remind everyone that, during the course of this conference call, management will discuss forecasts, targets, and other forward-looking statements regarding the company and its financial results. While these statements represent our best current judgment about future results and performance as of today, our actual results are subject to many risks and uncertainties that could cause actual results to differ materially from what we expect.

In addition to any risks that, we highlight during the call, important factors that may affect our future results are described in our most recent SEC reports in today's earnings press release. In addition, we will refer to non-GAAP financial measures during the discussion. Reconciliations to their most directly comparable U.S. GAAP financial measures and supplemental financial information can be found in the earnings press release and 8-K that we released earlier today. All of these items, plus a visual presentation that investors can consult to follow along with this discussion are available on our Investor Relations website investor.funko.com.

I will now turn the call over to Andrew.

Andrew Perlmutter

Good afternoon, everyone, and thank you for joining us today. Q1 was an excellent start to the year building on the strength and momentum of 2021, we significantly outperformed our top line revenue expectations effectively navigating ongoing headwinds throughout the global supply chain. Revenue was $308 million, an increase of 63% over the prior-year, and well above our target range. Our results were broad based with strength across brand categories, geographies and channels, particularly within the domestic mass market and online retailer channels.