Funko Inc (NASDAQ:FNKO) reported its latest quarterly results after the bell Thursday, which saw revenue soar year-over-year.
The manufacturer of licensed pop culture toys saw its fourth-quarter revenue rise 28% compared to the year-ago quarter to $169.5 million. Net income fell to $9.2 million due in part to a $5.1 million pre-tax loss linked to extinguishment of debt.
Funko’s earnings per diluted share for the quarter was 7 cents, while its gross margin surge 180 basis points to 39.3% year-over-year. The company’s income from operations increased 2% to $21.4 million year-over-year.
Its adjusted pro forma net income was $11.2 million, or 22 cents per share, while adjusted EBITDA was $33.6 million. For its fiscal 2017, Funko brought in net sales of $516.1 million, marking a 20.9% increase compared to the year-ago quarter.
Net income for the period was $7.3 million, including the aforementioned tax loss. The company’s income from operations was flat year-over-year at $44.1 million, while its earnings were 7 cents per share.
Funko’s gross margin increased 420 basis points to 38.5% year-over-year. The company’s adjusted pro forma net income was $18.7 million, or 37 cents per share, while its adjusted EBITDA was $91.9 million.
“We are pleased with our fourth quarter and 2017 results and the underlying trends in our business. 2017 was an incredible year for Funko, we increased net sales 21% to $516 million, we sold across a record number of properties, we made three strategic acquisitions, and we completed an initial public offering,” said CEO Brian Mariotti.
FNKO stock soared more than 10% after Thursday’s market close.