The rise of Funko continues. The Washington-based purveyor of pop culture collectibles and consumer products reported first quarter earnings that surpassed all expectations.

Funko, famous for it’s ever-growing selection of Pop! Vinyl figures, reported a net sales increase of 22% to $166.8 million in the first quarter of 2019, up from $137.2 million in the first quarter of 2018. Gross profit increased 24%, net income increased 216%, income from operations rose 76%, and gross margin increased 70 basis points to 38.1%.

Sales of its collectible figures lines increased 18%, with major growth seen in the Loungefly brand and other softline products, which experienced a net sales increase of 43%

“Funko started 2019 with a very strong quarter, once again exceeding our own expectations,” says Brian Mariotti, Funko’s CEO. “Demand for our products and pop culture in general is global and our growth was balanced with strong increases in all geographic markets… we remain focused on optimizing our long term growth and improving our operations.”

With summer movie season upon us, and properties such as Avengers: Endgame continuing to do massive global box office, Funko will see an uptick in sales carried by active pop culture properties.

“For the balance of the year, we look forward to continuing our expansion into new product categories, broadening our retailer network and increasing the portion of our sales coming from international markets,” Mariotti adds.

The company has been on a roll all year, with a baseball sponsorship, a new collection tracker app, a children’s book series, and construction of a Hollywood flagship store just a few of the highlights.

About the author

James Zahn

James Zahn

James Zahn, AKA The Rock Father, is Editor-in-Chief of The Toy Book, a Senior Editor at The Toy Insider and The Pop Insider, and Editor of The Toy Report, The Toy Book‘s weekly industry newsletter. As a pop culture and toy industry expert, Zahn has appeared as a panelist and guest at events including Comic-Con International: San Diego (SDCC) Wizard World Chicago, and the ASTRA Marketplace & Academy. Zahn has more than 30 years of experience in the entertainment, retail, and publishing industries, and is frequently called upon to offer expert commentary for publications such as Forbes, Marketwatch, the Wall Street Journal, the New York Times, USA Today, Reuters, the Washington Post, and more. James has appeared on History Channel’s Modern Marvels, was interviewed by Larry King and Anderson Cooper, and has been seen on Yahoo! Finance, CNN, CNBC, FOX Business, NBC, ABC, CBS, WGN, The CW, and more. Zahn joined the Adventure Media & Events family in 2016, initially serving as a member of the Parent Advisory Board after penning articles for the Netflix Stream Team, Fandango Family, PBS KIDS, Sprout Parents (now Universal Kids), PopSugar, and Chicago Parent. He eventually joined the company full time as a Senior Editor and moved up the ranks to Deputy Editor and Editor-in-Chief.