Funko (NASDAQ: FNKO) reported Q1 EPS of ($0.12), $0.05 worse than the analyst estimate of ($0.07). Revenue for the quarter came in at $136.7 million versus the consensus estimate of $138.61 million.

Brian Mariotti, Chief Executive Officer, stated, “As people around the world navigate the many challenges of COVID-19, I am incredibly grateful to our Funko employees for their hard work and unwavering commitment to delivering innovation, delighting our fans and driving long-term growth. In recent weeks, our management team acted decisively to mitigate business disruption and increase financial flexibility by reducing operating expenses, cutting capital expenditures and successfully amending our credit facility.”

2020 Outlook

Given the continued and uncertain duration of the impacts from COVID-19 on Funko’s business, the Company is not issuing updated guidance at this time. The Company anticipates the greatest impact from COVID-19 in fiscal 2020 will occur in the second quarter.

Mariotti concluded, “Looking at the second half of 2020, we are remaining nimble and pivoting as needed to adapt to changes in content release dates, as well as the needs of our retail partners as they navigate customer capacity limits and the timing of reopenings. Additionally, we are directing greater resources toward our e-commerce growth strategy, which includes building a robust online platform, while developing a more powerful selling model and broadening our product catalog on Funko.com.”

For earnings history and earnings-related data on Funko (FNKO) click here.