Funko (NASDAQ: FNKO) reported Q1 EPS of $0.17, $0.06 better than the analyst estimate of $0.11. Revenue for the quarter came in at $189 million versus the consensus estimate of $180.3 million.

“Improving consumer demand in the U.S. and Europe contributed to broad-based strength within our brands, products and distribution channels, leading to a record first quarter,” said Brian Mariotti, Chief Executive Officer. “Throughout the pandemic, our teams have maintained a relentless focus on delivering innovation and engaging with our fans around the world, positioning the business to drive topline growth as the demand environment strengthens. In the first quarter, this enabled us to achieve sales growth of 38%, strong Adjusted EBITDA margins2 and a substantial increase on the bottom line.”

“We are confident that our innovation pipeline, strategic focus and experienced teams will enable us to deliver continued growth and expansion in the dynamic macro environment,” continued Mariotti. “We’re investing behind our key strategic priorities and expect to achieve topline growth of 33% to 38% in 2021, above our previously stated range, while also driving increased profitability.”

GUIDANCE:

• Net sales growth of 33% to 38%;
• Adjusted EBITDA margin2 of 14.0% to 14.5%;
• Adjusted Net Income2 of $52.5 million to $59.6 million, based on a blended tax rate of 25%; and
• Adjusted Earnings per Diluted Share2 of $0.98 to $1.12, based on estimated adjusted average diluted shares outstanding of 53.3 million for the full year.

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