Funko, Inc. (FNKO)

Nice press announcement from Ebay:

New collaboration brings exclusive-to-eBay Funko Products to collectors, beginning with Vinyl GOLD™
SAN JOSE, Calif., Aug. 15, 2022 /PRNewswire/ -- eBay, a global commerce leader that connects millions of buyers and sellers around the world, announced today the launch of a series of exclusive Funko products as part of a newly formed collaboration with Funko, a leading pop culture and lifestyle brand. Through this collaboration, eBay combines its global reach and unique inventory to continue to bring a seamless experience that allows enthusiasts to access high passion and high value items, including exclusive-to-eBay Funko products.

"With millions of sales of Funko products on our marketplace last year, we recognize that this incredibly engaged community of collectors are already shopping on eBay," said Dawn Block, VP Collectibles, Electronics and Home at eBay. "Our collaboration with Funko to bring exclusive inventory onto our platform allows us to deliver even more of the rare collectibles these enthusiasts are coveting."
Funko's collection on eBay will offer enthusiasts access to rare, sought after Funko products from iconic fandoms – the first of which is available today at https://www.ebay.com/e/_collectibles/funkopop-kawhi?preview=true. Additional drops in the series will launch later this year.
"Creating iconic products that connect fans to their passion is at the core of what we do," said Johanna Gepford, Senior Vice President for the Direct to Commerce business at Funko. "Collaborating with eBay allows us to broaden our reach delighting even more Funko collectors around the world."
The collectibles market has fueled this collaboration between eBay and Funko, as eBay continues to shape the future of collecting through new digital and physical capabilities. eBay recently expanded its Authenticity Guarantee service to trading cards, and also launched the eBay vault, a secure storage facility and digital marketplace for trading cards. These enhancements followed industry-leading tools introduced in 2021, including Price Guide and Collection and Image Scan.
eBay Collectibles by the Numbers
Collectibles is a top eBay category.
In 2021, there were over 4M listings and 88M searches for Funko Pop on eBay.
In 2021, Trading Cards GMV more than doubled pre-pandemic levels, with an average of 2 trading cards purchased every second on eBay.
In 2021, Sports Ticket Stubs GMV increased 60% YoY, Coins and Bills GMV increased 34% YoY and Comics GMV increased 22% YoY.

By Audrey Jensen
Reporter, Phoenix Business Journal
Aug 5, 2022

Toymaker Funko announced record sales growth in the second quarter but also saw a significant drop in net income in part due to moving its main distribution operations to Arizona.

Funko Inc. (Nasdaq: FNKO) reported net sales of $315 million in Q2, an increase of 33.7% year over year, as well as net income of $15.8 million, a nearly 25% decrease over a year.

Part of the company's increased selling, general and administrative expenses, which increased by 50.7% to $82.7 million in the second quarter, was a result of relocating and consolidating its distribution centers to Arizona, among other reasons like personnel costs, Funko executives said in its earnings call on Thursday. “We had a lot of cash associated with moving the inventory between our distribution centers in Everett down to Buckeye," the company said during the call.
Some of the expenses for the second quarter included a $6.5 million increase in professional fees, which included one-time transaction expenses to consolidate the Washington warehouse and distribution center and move them to Buckeye, and a $3 million increase for rent, facility and warehouse support as the new Buckeye warehouse and distribution facility started operations in the second quarter, the company's most recent quarterly report said.

The company recently started operations at its new, main distribution and warehouse facility in Buckeye, one of the fastest-growing cities in Arizona and the U.S. The city has become a landing spot for industrial development due to its proximity to California.
Funko signed a lease for 958,000 square feet of space at 10 West Commerce Park, which is located at 2600 Miller Road just south of Interstate 10 and adjacent to the Five Below distribution facility.
In January, the company said it was moving its distribution operations out of Everett, Washington, where it had two warehouses and its headquarters currently resides. The new Arizona facility is expected to employ 300 people.
The building, which is fully leased to Funko, also sold for nearly $130 million this summer to California-based Cohen Asset Management inc. and Boston-based Intercontinental Real Estate Corp.
Funko shares fell 1.07% in Thursday trading to close at $26.69.