Funko Non-GAAP EPS of -$0.35 misses by $0.24, revenue of $333.04M beats by $15.13M
- Funko press release (NASDAQ:FNKO): Q4 Non-GAAP EPS of -$0.35 misses by $0.24.
- Revenue of $333.04M (-1.0% Y/Y) beats by $15.13M.
- Shares -2%.
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For the first quarter of 2023 the Company expects:
- Revenue of between $225 million and $255 million.
- Excluding an anticipated inventory write down, gross margin is expected to be in line to slightly below the fourth quarter of 2022, and improve sequentially throughout the year.
- SG&A to be sequentially lower from the fourth quarter of 2022 by approximately $25 million at the midpoint of the revenue range.
- Adjusted EBITDA of between $(50) million and $(45) million, returning to positive territory in the second half of 2023.
- Adjusted Net Loss of $(53) to $(48) million based on a blended tax rate of 25%, and adjusted loss per diluted share of $(1.00) to $(0.90) based on a weighted average diluted share count of 52.3 million shares.
For the full year 2023 the Company expects:
- Revenue growth year-over-year between 0% and 5%.
- Adjusted EBITDA for the year to be between $50 million and $75 million.