Funko Inc

FNKO remains in a Stage 2 advancing phase with a clear higher-high/higher-low sequence and supportive EMAs. However, price is currently extended above key moving averages and shows extreme overbought readings on RSI and options, deterring immediate entries. Given the speculative strategy and lack of mean-reversion permission, we await a disciplined pullback into rising EMAs or the breakout zone. Medium-term structure is bullish, but near-term timing requires patience to enter on dynamic support.

• ↑Net sales up 7% YoY to $207.7M, adjusted EBITDA $40.9M vs –$16.5M prior year
• ↑Gross margin hit a record 56.6% (44.4% normalized) aided by $25M tariff credit
• ↓Reliance on pop-culture trends drives unpredictable sales cycles