Funko CEO Josh Simon leads a turnaround after the company warned it might lack cash for debt payments. Second-quarter sales rose 7% to $207.7 million, and its $15.4-million profit depended on a $25.4-million benefit from expected tariff refunds.
Simon became CEO in September 2025 after running global consumer products at Netflix. Funko has shifted production from China to Vietnam and other countries, renegotiated the timing of its debt payments and sped up product launches. It is also broadening its licenses and developing original characters.
Last year, Funko lost $67.4 million on $908.2 million in sales, down 13% from the previous year, and disclosed $225 million in debt. The company cited China tariffs, canceled retail orders and loan covenants it expected to breach; an analyst also said Funko overestimated demand and made too many figures.
