For over a decade, Funko Pops have grown into a substantial part of the fandom economy. TV show, video game, actor, you name it—if it’s significant in some way and has a decent fanbase, it’s gotten a Pop sooner or later for someone to snatch up and put on their shelf.
But according to a recent SEC filing, the company brought up “substantial doubt” about its odds of continuing past the next 12 months. The filing arrived alongside its financial report covering the third quarter of the 2025-2026 fiscal year, which ended September 30, 2025, and mentions rising debt amid a “challenging retail environment” from the United States’ ongoing tariffs.
Funko reported respective declines in worldwide and domestic sales by 14.3% and 20.1% year-over-year for its third quarter. While the company mentioned some wins in good sales of Bitty Pops and upcoming KPop Demon Hunters merch, it admitted it’s been hurt by retailers having slower-than-usual restocks of their supply, or canceling orders entirely. Further hurting things are the raised prices on some of its products due to those aforementioned tariffs, whose legitimacy is currently being debated by the Supreme Court.
In its filing, Funko mentions the need for additional financing, or failing that, pursue “strategic alternatives” such as scaling back its operations or potentially selling the company. There’s no specific timetable to review said alternatives, and it acknowledged there’s no guarantee “this process will result in any particular outcome.” So by the time we approach 2027, Funko may be in an entirely different place, or not be around at all.
[via ICv2]
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