Is Funko The Next Big NFT Winner?

Funko could be gearing up to make an announcement on its NFT plans and offerings in the future.

“We’re certainly all over this, and I think you’ll see something fairly soon from Funko in the market.”

Funko Earnings: Funko reported fourth-quarter sales of $227 million, up 6% year-over-year. The company was hurt by weak results in Europe that saw sales down 24% year-over-year. The company reported its largest domestic quarter ever with U.S. sales of $171 million, up 18% year-over-year.

The company expanded its direct-to-consumer offerings with the launch of funkoeurope.com ahead of schedule. DTC sales nearly doubled in the quarter compared to the prior year.

Funko is guiding for fiscal 2021 revenue to be up 25% to 30% year-over-year. The company estimates fiscal 2021 earnings per share to be in a range of $0.84 to $0.96.

“We have a major master license toy announcement coming very, very soon. And that will also be in the second half of the year,” Mariotti said.

FNKO Price Action: Shares of Funko are down 5% to $17.93 on Tuesday.

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Disclosure: The author has a long position in FNKO.

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