Funko

Q2 FY2026 EarningsQ2 FY26 results significantly exceeded consensus across all key financial metrics, driven by robust performance in Core Collectible products and a substantial one-time tariff recovery. Revenue reached $207.7M vs. $200.22M expected, while gross margin surged to 56.6%, far outperforming the 43.0% consensus. Diluted GAAP EPS of $0.27 beat the expected loss of $0.26, bolstered by a $25.4M pre-tax benefit from IEEPA tariff recoveries. While the top-line beat was supported by organic growth in Europe (+19.4% YoY), the bottom-line variance was primarily driven by the one-time legal/tariff windfall and disciplined SG&A reductions.