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Segments | 12 Months Ended
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Dec. 31, 2025
Segment Reporting [Abstract] |
Segments | Segments The Company identifies its segments according to how the business activities are managed and evaluated and for which discrete financial information is available and regularly reviewed by its Chief Operating Decision Maker (“CODM”) to allocate resources and assess performance. The Company’s current CODM is our Chief Executive Officer, Josh Simon. Because the CODM reviews financial performance and allocates resources at a consolidated level on a regular basis, the Company has one segment. The segment derives revenue from customers by providing a wide variety of branded categories, including Core Collectible (predominately figures), Loungefly (predominately softlines including bags, wallets, backpacks and accessories) and Other (predominately Mondo and other emerging brands). All product lines, designs, licenses, and marketing/sales strategies are centrally managed as a single operating entity rather than at a geographic or subsidiary level. The accounting policies of the segment are the same as those described in the summary of significant accounting policies above. The CODM assesses performance for the segment and decides how to allocate resources (including employees, property, financial, and capital resources) based on consolidated net loss that also is reported on the Company's consolidated statements of operations. The CODM uses consolidated net loss to monitor budget-to-actual results on a monthly basis. During the monthly finance review, consolidated net income (loss) along with other finance metrics are presented to the CODM to understand how branded categories are tracking to budget, specific to net sales. During the year ended December 31, 2025, there were no changes to the measures used for finance metrics utilized, other than product costs are now reported inclusive of all inventoriable costs. The following table sets forth segment information for revenue, segment net loss and significant expenses:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (in thousands, except per share data)
Net sales | $ | 908,209 |  |  | $ | 1,049,850 |  |  | $ | 1,096,086 |
Less (add): |  |  |  |  |
Product, freight, duties, shipping and other inventoriable costs | 398,473 |  |  | 446,435 |  |  | 583,371 |
License and royalty costs | 158,467 |  |  | 168,883 |  |  | 179,714 |
Salaries, benefits, incentive and stock compensation | 145,687 |  |  | 145,593 |  |  | 157,940 |
Warehouse labor and third-party logistics fees | 36,934 |  |  | 52,244 |  |  | 62,416 |
Advertising and marketing | 51,547 |  |  | 51,567 |  |  | 31,256 |
Other selling, general and administrative fees | 103,547 |  |  | 109,554 |  |  | 125,453 |
Depreciation and amortization | 59,097 |  |  | 62,583 |  |  | 59,763 |
Other expense (income) | 18,396 |  |  | 23,497 |  |  | (71,886) |
Income tax expense | 4,356 |  |  | 4,564 |  |  | 132,497 |
Net loss | $ | (68,295) |  |  | $ | (15,070) |  |  | $ | (164,438) |
The following table presents summarized product information:
| Year ended December 31,
| 2025 |  | 2024 |  | 2023
Core Collectible | $ | 723,327 |  |  | $ | 804,407 |  |  | $ | 803,181 |
Loungefly | 155,031 |  |  | 171,833 |  |  | 214,523 |
Other | 29,851 |  |  | 73,610 |  |  | 78,382 |
Total net sales | $ | 908,209 |  |  | $ | 1,049,850 |  |  | $ | 1,096,086 |
The following tables present summarized geographical information, shipped to (net sales) and used in (long-term assets) (in thousands):
| Year ended December 31,
| 2025 |  | 2024 |  | 2023
Net sales: |  |  |  |  |
United States | $ | 546,328 |  |  | $ | 681,986 |  |  | $ | 755,620 |
Europe | 288,348 |  |  | 283,792 |  |  | 268,496 |
Other International | 73,533 |  |  | 84,072 |  |  | 71,970 |
Total net sales | $ | 908,209 |  |  | $ | 1,049,850 |  |  | $ | 1,096,086 |
| December 31,
| 2025 |  | 2024
Long-lived assets: |  |  |
United States | $ | 79,773 |  |  | $ | 88,705 |
Europe | 13,086 |  |  | 15,055 |
Other International | 32,253 |  |  | 31,236 |
Total long-lived assets | $ | 125,112 |  |  | $ | 134,996 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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