Funko, Inc. (NASDAQ:FNKO) Q2 2024 Earnings Conference Call August 8, 2024 4:30 PM ET

Company Participants

Robert Jaffe - Director, IR
Cynthia Williams - CEO
Yves LePendeven - CFO

Conference Call Participants

Eric Wold - B. Riley
Stephen Laszczyk - Goldman Sachs

Operator

Good afternoon, and welcome to the Funko 2024 Second Quarter Financial Results Conference Call. At this time, all participants are in listen-only mode. Later, we will conduct a question-and-answer session, and instructions will follow at the time. Please be advised that reproduction of this call in whole or in parts is not permitted without written authorization from the company. As a reminder, this call is being recorded.

I will now turn over the call to Funko's Director and Investor Relations, Rob Jaffe, to begin. Rob, please go ahead.

Robert Jaffe

Hello, everyone, and thank you for joining us today to discuss Funko's 2024 second quarter financial results. On the call are Cynthia Williams, our recently appointed Chief Executive Officer; and Yves LePendeven, our Chief Financial Officer. This call is being broadcast live at investor.funko.com. A playback will be available for at least one year on the company's website.

I want to remind everyone that during the course of this call, management's discussion will include forward-looking information. These statements represent our best judgment as of today about the company's future results and performance. Our actual results are subject to many risks and uncertainties that may differ materially from those stated or implied, including those discussed in our earnings release. Additional information concerning factors that could cause actual results to differ materially is contained in our most recently filed SEC reports.

In addition, during this call, we refer to non-GAAP financial measures that are not prepared in accordance with U.S. Generally Accepted Accounting Principles and may be different from non-GAAP financial measures used by other companies. Investors are encouraged to review Funko's press release announcing its 2024 second quarter financial results for the company's reasons for presenting non-GAAP financial measures. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures is also attached to the company's earnings press release issued earlier today.

With that, I will now turn the call over to Cynthia Williams. Cynthia?

Cynthia Williams

Thanks, Rob, and good afternoon, everyone. Welcome to Funko's second quarter financial results conference call. My first conference call as the company's new CEO. I am delighted to be here. For the second quarter, our financial results were better than expected. Moreover, the second quarter was our first quarter of year-over-year net sales growth and our first profitable quarter since the third quarter of 2022. Net sales were $248 million, up 3% over the same quarter last year.