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Schedule I: Condensed Financial Information of Registrant | 12 Months Ended
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Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract] |
Schedule I: Condensed Financial Information of Registrant | Schedule I: Condensed Financial Information of Registrant FUNKO, INC. CONDENSED STATEMENTS OF OPERATIONS (PARENT COMPANY ONLY)
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (in thousands)
Intercompany revenue | $ | — |  |  | $ | 148 |  |  | $ | 226 |
Selling, general, and administrative expenses | 11,737 |  |  | 13,803 |  |  | 10,812 |
Total operating expenses | 11,737 |  |  | 13,803 |  |  | 10,812 |
Loss from operations | (11,737) |  |  | (13,655) |  |  | (10,586) |
Interest expense, net | 103 |  |  | (387) |  |  | (321) |
Tax receivable agreement liability adjustment | 427 |  |  | (547) |  |  | 100,223 |
Equity in net loss of subsidiaries | (56,153) |  |  | (186) |  |  | (114,697) |
Loss before income taxes | (67,360) |  |  | (14,775) |  |  | (25,381) |
Income tax (benefit) expense | — |  |  | (57) |  |  | 128,698 |
Net loss | $ | (67,360) |  |  | $ | (14,718) |  |  | $ | (154,079) |
See accompanying notes to condensed financial information. Schedule I: Condensed Financial Information of Registrant (continued) FUNKO, INC. CONDENSED STATEMENTS OF COMPREHENSIVE LOSS (PARENT COMPANY ONLY)
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (in thousands)
Net loss | $ | (67,360) |  |  | $ | (14,718) |  |  | $ | (154,079) |
Other comprehensive income (loss): |  |  |  |  |
Foreign currency translation (loss) gain, net of tax effect of $0, $0 and $(770) for the years ended December 31, 2025, 2024 and 2023, respectively | 6,297 |  |  | (1,496) |  |  | 2,423 |
Comprehensive loss attributable to Funko, Inc. | $ | (61,063) |  |  | $ | (16,214) |  |  | $ | (151,656) |
See accompanying notes to condensed financial information. Schedule I: Condensed Financial Information of Registrant (continued) FUNKO, INC. CONDENSED BALANCE SHEETS (PARENT COMPANY ONLY)
| December 31,
| 2025 |  | 2024
| (in thousands, except per share data)
Assets |  |  |
Current assets: |  |  |
Cash and cash equivalents | $ | 3,486 |  |  | $ | 1,258 |
Income tax receivable | 202 |  |  | 202 |
Total current assets | 3,688 |  |  | 1,460 |
Intercompany receivable | 110,887 |  |  | 113,009 |
Investment in subsidiaries | 71,359 |  |  | 119,097 |
Total assets | $ | 185,934 |  |  | $ | 233,566 |
Liabilities and Stockholders' Equity |  |  |
Current liabilities: |  |  |
Current portion of liabilities under tax receivable agreement | $ | 120 |  |  | $ | 547 |
Total current liabilities | 120 |  |  | 547 |
Commitments and contingencies |  |  |
Stockholders' equity: |  |  |
Class A common stock, par value $0.0001 per share, 200,000 shares authorized; 55,327 shares and 52,967 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 5 |  |  | 5 |
Class B common stock, par value $0.0001 per share, 50,000 shares authorized; 91 shares and 1,430 shares issued and outstanding as of December 31, 2025 and 2024, respectively | — |  |  | — |
Additional paid-in-capital | 357,330 |  |  | 343,472 |
Accumulated other comprehensive income (loss) | 4,621 |  |  | (1,676) |
Accumulated deficit | (176,142) |  |  | (108,782) |
Total stockholders' equity | 185,814 |  |  | 233,019 |
Total liabilities and stockholders' equity | $ | 185,934 |  |  | $ | 233,566 |
See accompanying notes to condensed financial information. Schedule I: Condensed Financial Information of Registrant (continued) FUNKO, INC. CONDENSED STATEMENTS OF CASH FLOWS (PARENT COMPANY ONLY)
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (in thousands)
Operating Activities |  |  |  |  |
Net loss | $ | (67,360) |  |  | $ | (14,718) |  |  | $ | (154,079) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |  |  |  |  |
Equity in net loss of subsidiaries | 56,153 |  |  | 186 |  |  | 114,697 |
Equity-based compensation | 11,536 |  |  | 13,602 |  |  | 10,534 |
Deferred tax (benefit) expense | — |  |  | (57) |  |  | 123,124 |
Tax receivable liability adjustment | (427) |  |  | 547 |  |  | (100,223) |
Changes in operating assets and liabilities, net of amounts acquired: |  |  |  |  |
Income tax receivable | — |  |  | 110 |  |  | 7,219 |
Due from related parties, net | 2,121 |  |  | 5,778 |  |  | 436 |
Accrued expenses and other liabilities | — |  |  | (374) |  |  | 370 |
Net cash provided by operating activities | 2,023 |  |  | 5,074 |  |  | 2,078 |
Investing Activities |  |  |  |  |
Net cash used in investing activities | — |  |  | — |  |  | — |
Financing Activities |  |  |  |  |
Tax receivable agreement payments | — |  |  | (8,960) |  |  | (4) |
Proceeds from exercise of equity-based options | 227 |  |  | 1,410 |  |  | 749 |
Other | (22) |  |  | — |  |  | — |
Net cash provided by (used in) financing activities | 205 |  |  | (7,550) |  |  | 745 |
Net change in cash and cash equivalents | 2,228 |  |  | (2,476) |  |  | 2,823 |
Cash and cash equivalents at beginning of period | 1,258 |  |  | 3,734 |  |  | 911 |
Cash and cash equivalents at end of period | $ | 3,486 |  |  | $ | 1,258 |  |  | $ | 3,734 |
Supplemental Cash Flow Information |  |  |  |  |
Establishment of liabilities under tax receivable agreement | — |  |  | 547 |  |  | — |
See accompanying notes to condensed financial information. Schedule I: Condensed Financial Information of Registrant (continued) FUNKO, INC. NOTES TO CONDENSED FINANCIAL INFORMATION (PARENT COMPANY ONLY) December 31, 2025 1. Organization Funko, Inc. (the “Parent Company”) was formed on April 21, 2017 as a Delaware corporation and is a holding company with no direct operations. The Parent Company's assets consist primarily of cash and cash equivalents, its equity interest in FAH, LLC, and certain deferred tax assets, net of valuation allowance. The Parent Company's cash inflows are primarily from distributions and other transfers from FAH, LLC. The amounts available to the Parent Company to fulfill cash commitments are subject to certain restrictions in FAH, LLC’s Credit Facilities. See Note 10, "Debt" to the Funko, Inc. Consolidated Financial Statements, appearing elsewhere in this Form 10-K. 2. Basis of Presentation These condensed Parent Company financial statements should be read in conjunction with the consolidated financial statements of Funko, Inc. and the accompanying notes thereto, included in this Form 10-K. For purposes of this condensed financial information, the Parent Company's interest in FAH, LLC is recorded based upon its proportionate share of FAH, LLC's net assets (similar to presenting them on the equity method). The net assets of the consolidated subsidiaries exceed 25 percent of consolidated net assets, therefore requiring Schedule I. The Parent Company is the sole managing member of FAH, LLC, and pursuant to the Amended and Restated LLC Agreement of FAH, LLC (the “LLC Agreement”), receives compensation in the form of reimbursements for all costs associated with being a public company. Intercompany revenue consists of these reimbursement payments and is recognized when the corresponding expense to which it relates is recognized. Certain intercompany balances presented in these condensed Parent Company financial statements are eliminated in the consolidated financial statements. For the years ended December 31, 2025, 2024, and 2023, the full amounts of intercompany revenue and equity in net income (loss) of subsidiaries in the Parent Company Statements of Operations were eliminated in consolidation. An intercompany receivable was owed to the Parent Company by FAH, LLC of $110.9 million and $113.0 million as of December 31, 2025 and 2024, respectively. Related party amounts that were not eliminated in the consolidated financial statements include the Parent Company's liabilities under the tax receivable agreement, which totaled $0.1 million and $0.5 million as of December 31, 2025 and 2024, respectively. 3. Commitments and Contingencies The Parent Company is party to a tax receivable agreement that provides for the payment by the Parent Company to the TRA Parties of 85% of the amount of any tax benefits that the Parent Company actually realizes, or in some cases is deemed to realize, as a result of certain transactions. See Note 13, "Liabilities under Tax Receivable Agreement," to the Funko, Inc. consolidated financial statements, appearing elsewhere in this Form 10-K, for more information regarding the Parent Company's tax receivable agreement. As described in Note 13, "Liabilities under Tax Receivable Agreement," to the Funko, Inc. consolidated financial statements, appearing elsewhere in the Form 10-K, amounts payable under the tax receivable agreement are contingent upon, among other things, (i) generation of future taxable income of Funko, Inc. over the term of the tax receivable agreement and (ii) future changes in tax laws. As of December 31, 2025 and 2024, liabilities under the tax receivable agreement totaled $0.1 million and $0.5 million, respectively. See Note 14, "Commitments and Contingencies," to the Funko, Inc. consolidated financial statements, appearing elsewhere in this Form 10-K, for information regarding pending and threatened litigation. Pursuant to the LLC Agreement, the Parent Company receives reimbursements for all costs associated with being a public company, which includes costs of litigation.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 4: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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