Funko (FNKO) 10-Q 6 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	May 04, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-38274
Entity Registrant Name	FUNKO, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	35-2593276
Entity Address, Address Line One	2802 Wetmore Avenue
Entity Address, City or Town	Everett
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98201
City Area Code	425
Local Phone Number	783-3616
Title of 12(b) Security	Class A Common Stock,$0.0001 par value per share
Trading Symbol	FNKO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001704711
Current Fiscal Year End Date	--12-31
Class A common shares outstanding
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		37,512,021
Class B common shares outstanding
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,529,497

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Net sales	$ 189,177	$ 136,700
Cost of sales (exclusive of depreciation and amortization shown separately below)	110,853	81,417
Selling, general, and administrative expenses	51,267	47,313
Depreciation and amortization	10,262	10,989
Total operating expenses	172,382	139,719
Income (loss) from operations	16,795	(3,019)
Interest expense, net	2,237	2,655
Other expense, net	1,179	914
Income (loss) before income taxes	13,379	(6,588)
Income tax expense (benefit)	2,293	(856)
Net income (loss)	11,086	(5,732)
Less: net income (loss) attributable to non-controlling interests	4,572	(1,606)
Net income (loss) attributable to Funko, Inc.	$ 6,514	$ (4,126)
Earnings (loss) per share of Class A common stock:
Basic (in dollars per share)	$ 0.18	$ (0.12)
Diluted (in dollars per share)	$ 0.17	$ (0.12)
Weighted average shares of Class A common stock outstanding:
Basic (in shares)	36,193,572	34,943,875
Diluted (in shares)	37,839,041	34,943,875

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 11,086	$ (5,732)
Other comprehensive income (loss):
Foreign currency translation gain (loss), net of tax effect of $(75) and $458 for the three months ended March 31, 2021 and 2020, respectively	423	(2,498)
Comprehensive income (loss)	11,509	(8,230)
Less: Comprehensive income (loss) attributable to non-controlling interests	4,724	(2,528)
Comprehensive income (loss) attributable to Funko, Inc.	$ 6,785	$ (5,702)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Foreign currency translation loss, tax	$ (75)	$ 458

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 74,697	$ 52,255
Accounts receivable, net	114,655	131,837
Inventory	61,934	59,773
Prepaid expenses and other current assets	15,658	15,486
Total current assets	266,944	259,351
Property and equipment, net	53,868	56,141
Operating lease right-of-use assets	56,774	58,079
Goodwill	126,801	125,061
Intangible assets, net	201,757	205,541
Deferred tax asset	58,384	54,682
Other assets	4,670	4,735
Total assets	769,198	763,590
Current liabilities:
Current portion of long-term debt, net of unamortized discount	14,666	10,758
Current portion of operating lease liabilities	14,636	13,840
Accounts payable	31,706	29,199
Income taxes payable	2,217	425
Accrued royalties	33,906	40,525
Accrued expenses and other current liabilities	41,451	43,949
Total current liabilities	138,582	138,696
Long-term debt, net of unamortized discount	168,371	180,012
Operating lease liabilities, net of current portion	55,736	57,512
Deferred tax liability	788	780
Liabilities under tax receivable agreement, net of current portion	67,713	60,297
Other long-term liabilities	4,909	3,848
Commitments and Contingencies (Note 7)
Stockholders’ equity:
Additional paid-in-capital	222,902	216,141
Accumulated other comprehensive income	1,989	1,718
Retained earnings	30,917	24,403
Total stockholders’ equity attributable to Funko, Inc.	255,813	242,267
Non-controlling interests	77,286	80,178
Total stockholders’ equity	333,099	322,445
Total liabilities and stockholders’ equity	769,198	763,590
Class A common shares outstanding
Stockholders’ equity:
Common stock, value	4	4
Class B common shares outstanding
Stockholders’ equity:
Common stock, value	$ 1	$ 1

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Class A common shares outstanding
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	36,836,000	35,657,000
Common stock, shares outstanding (in shares)	36,836,000	35,657,000
Class B common shares outstanding
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	13,040,000	14,040,000
Common stock, shares outstanding (in shares)	13,040,000	14,040,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating Activities
Net income (loss)	$ 11,086	$ (5,732)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and other	10,586	11,937
Equity-based compensation	2,690	2,413
Amortization of debt issuance costs and debt discounts	322	317
Other	805	851
Changes in operating assets and liabilities:
Accounts receivable, net	17,521	43,760
Inventory	(1,952)	7,312
Prepaid expenses and other assets	1,610	6,437
Accounts payable	2,483	(12,923)
Income taxes payable	1,789	(491)
Accrued royalties	(6,619)	(14,209)
Accrued expenses and other liabilities	(2,856)	(2,720)
Net cash provided by operating activities	37,465	36,952
Investing Activities
Purchases of property and equipment	(3,884)	(4,961)
Other	199	0
Net cash used in investing activities	(3,685)	(4,961)
Financing Activities
Borrowings on line of credit	0	28,267
Payments on line of credit	0	(25,281)
Payments of long-term debt	(7,982)	(2,938)
Distributions to continuing equity owners	(2,445)	(2,675)
Payments under tax receivable agreement	(6)	(166)
Proceeds from exercise of equity-based options	33	41
Net cash used in financing activities	(10,400)	(2,752)
Effect of exchange rates on cash and cash equivalents	(938)	945
Net increase in cash and cash equivalents	22,442	30,184
Cash and cash equivalents at beginning of period	52,255	25,229
Cash and cash equivalents at end of period	$ 74,697	$ 55,413

Organization and Operations

Organization and Operations	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Operations	Organization and Operations The unaudited condensed consolidated financial statements include Funko, Inc. and its subsidiaries (together, the “Company”) and have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). All intercompany balances and transactions have been eliminated. The Company was formed as a Delaware corporation on April 21, 2017. The Company was formed for the purpose of completing an initial public offering (“IPO”) of its Class A common stock and related transactions in order to carry on the business of Funko Acquisition Holdings, L.L.C. (“FAH, LLC”) and its subsidiaries. Reorganization transactions occurring at the time of our IPO resulted in Funko, Inc. being the sole managing member of FAH, LLC. As the sole managing member of FAH, LLC, Funko, Inc. operates and controls all of FAH, LLC’s operations and, through FAH, LLC and its subsidiaries, conducts FAH, LLC’s business. Accordingly, the Company consolidates the financial results of FAH, LLC and reports a non-controlling interest in its unaudited condensed consolidated financial statements representing the common units of FAH, LLC interests still held by other owners of FAH, LLC (collectively, the “Continuing Equity Owners”). Interim Financial Information In the opinion of management, all adjustments considered necessary for a fair presentation of the results as of the date of and for the interim periods presented have been included, and such adjustments consist of normal recurring adjustments. Certain prior-year amounts have been reclassified to conform to the current year presentation. The unaudited condensed consolidated results of operations for the current interim period are not necessarily indicative of the results for the entire year ending December 31, 2021, due to seasonality and other factors. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes included in its Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission on March 11, 2021.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Use of Estimates The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates and assumptions. Significant Accounting Policies A description of the Company’s significant accounting policies is included in the audited consolidated financial statements within its Annual Report on Form 10–K for the year ended December 31, 2020.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Acquisitions	AcquisitionsTokenWave LLC. On March 26, 2021, the Company acquired a majority of the membership interests of TokenWave LLC, the developer of TokenHead, a mobile app and website for showcasing and tracking Non-Fungible Token (“NFT”) holdings. This transaction represents an opportunity to expand the Company’s product offerings into digital NFTs. The Company accounted for the acquisition as a business combination. The purchase consideration, fair value of the assets acquired and liabilities assumed, and acquisition related transaction costs were not material. The activity of TokenWave LLC included in the Company’s consolidated statements of operations from the acquisition date to March 31, 2021 was not material.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company’s financial instruments, other than those discussed below, include cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities. The carrying amount of these financial instruments approximate fair value due to the short-term nature of these instruments. For financial instruments measured at fair value on a recurring basis, the Company prioritizes the inputs used in measuring fair value according to a three-tier fair value hierarchy defined by U.S. GAAP. For a description of the methods and assumptions that the Company uses to estimate the fair value and determine the classification according to the fair value hierarchy for each financial instrument, see the Company’s audited consolidated financial statements and related notes included in its Annual Report on Form 10-K for the year ended December 31, 2020. Cash equivalents. As of March 31, 2021, cash equivalents included $39.8 million of highly liquid money market funds, which are classified as Level 1 within the fair value hierarchy. Debt. The estimated fair value of the Company’s debt instruments, which are classified as Level 3 financial instruments, at March 31, 2021 and December 31, 2020, was approximately $185.9 million and $193.9 million, respectively. The carrying values of the Company’s debt instruments at March 31, 2021 and December 31, 2020, were $183.0 million and $190.8 million, respectively.

Debt

Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt consists of the following (in thousands): March 31, 2021 December 31, 2020 Term Loan Facility $ 185,893 $ 193,875 Debt issuance costs (2,856) (3,105) Total term debt 183,037 190,770 Less: current portion 14,666 10,758 Long-term debt, net $ 168,371 $ 180,012 Credit Facilities On October 22, 2018, the Company entered into a credit agreement (as amended, the “Credit Agreement”) providing for a term loan facility in the amount of $235.0 million (the “Term Loan Facility”) and a revolving credit facility of $50.0 million (the “Revolving Credit Facility”) (together the “Credit Facilities”). On February 11, 2019, the Company amended the Credit Agreement to increase the Revolving Credit Facility to $75.0 million. On September 23, 2019, the Company entered into a second amendment to the Credit Agreement, which extended the maturity date of the Term Loan Facility and the Revolving Credit Facility under the Credit Facilities to September 23, 2024 (the “Maturity Date”), reduced the interest margin applicable to all loans under the Credit Agreement by 0.75% and reduced certain fees incurred under the Credit Agreement. The second amendment also allows the Company to request an additional $25.0 million increase to the Term Loan Facility. On May 5, 2020 the Company entered into a third amendment to the Credit Agreement, which modified the financial covenants and adjusted the required leverage levels for the Leverage Ratio (as defined in the Credit Agreement) to provide the Company with additional flexibility. The Term Loan Facility matures on the Maturity Date and amortizes in quarterly installments in aggregate amounts equal to 5.00% of the original principal amount of the Term Loan Facility (the “Original Principal Amount”) in the first and second years of the Term Loan Facility, 10.00% of the Original Principal Amount in the third and fourth years of the Term Loan Facility and 12.50% of the Original Principal Amount in the fifth and sixth years of the Term Loan Facility, with any outstanding balance due and payable on the Maturity Date. The first amortization payment was on December 31, 2018. The Revolving Credit Facility also terminates on the Maturity Date and loans thereunder may be borrowed, repaid, and reborrowed up to such date. As amended, loans under the Credit Facilities bear interest, at the Company’s option, at either the Euro-Rate (as defined in the Credit Agreement), or in the case of swing loans, the Swing Rate (as defined in the Credit Agreement), plus 3.00% or the Base Rate (as defined in the Credit Agreement) plus 2.00%, with 0.25% step-downs based on the achievement of certain leverage ratios. The Euro-Rate is subject to a 1.00% floor and for loans based on the Euro-Rate, interest payments are due at the end of each applicable interest period. The Credit Facilities are secured by substantially all of the assets of the Company and any of its existing or future material domestic subsidiaries, subject to customary exceptions. As of March 31, 2021 and December 31, 2020, the Company was in compliance with all of the covenants in its Credit Agreement, as amended. At March 31, 2021 and December 31, 2020, the Company had $185.9 million and $193.9 million of borrowings outstanding under the Term Loan Facility and no outstanding borrowings under the Revolving Credit Facility, respectively. At both March 31, 2021 and December 31, 2020, the Company had $75.0 million available under the Revolving Credit Facility. There were no outstanding letters of credit as of March 31, 2021 and December 31, 2020.

Liabilities under Tax Receivabl

Liabilities under Tax Receivable Agreement	3 Months Ended
	Mar. 31, 2021
Liabilities Under Tax Receivable Agreement [Abstract]
Liabilities under Tax Receivable Agreement	Liabilities under Tax Receivable AgreementOn November 1, 2017, the Company entered into a tax receivable agreement with FAH, LLC (the “Tax Receivable Agreement”) and each of the Continuing Equity Owners that provides for the payment by the Company to the Continuing Equity Owners of 85% of the amount of tax benefits, if any, that it realizes, or in some circumstances, is deemed to realize, as a result of (i) future redemptions funded by the Company or exchanges, or deemed exchanges in certain circumstances, of common units of FAH, LLC for Class A common stock of Funko, Inc. or cash, and (ii) certain additional tax benefits attributable to payments made under the Tax Receivable Agreement. During the three months ended March 31, 2021 and 2020, the Company acquired 1.2 million and a nominal amount, respectively of common units of FAH, LLC. As a result of these exchanges, during the three months ended March 31, 2021, the Company recognized an increase to its net deferred tax assets in the amount of $3.8 million. The following table summarizes changes in the amount of the Company’s Tax Receivable Agreement liability for the three months ended March 31, (in thousands): 2021 2020 Beginning Balance $ 62,317 $ 65,816 Additional liabilities for exchanges 5,973 4 Payments under tax receivable agreement (6) (166) Ending balance $ 68,284 $ 65,654 As of March 31, 2021, the Company’s total obligation under the Tax Receivable Agreement, including accrued interest, was $68.3 million, of which $0.6 million was included in accrued expenses and other current liabilities on the unaudited condensed consolidated balance sheets. There were no transactions subject to the Tax Receivable Agreement for which the Company did not recognize the related liability, as the Company concluded that it was probable that the Company would have sufficient future taxable income to utilize all of the related tax benefits. At December 31, 2020, the Company’s total obligation under the Tax Receivable Agreement, including accrued interest, was $62.3 million, of which $2.0 million was included in accrued expenses and other current liabilities on the condensed consolidated balance sheets.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies License Agreements The Company enters into license agreements with various licensors of copyrighted and trademarked characters and design in connection with the products that it sells. The agreements generally require royalty payments based on product sales and in some cases may require minimum royalty and other related commitments. Employment Agreements The Company has employment agreements with certain officers. The agreements include, among other things, an annual bonus based on certain performance metrics of the Company, as defined by the board of directors, and up to one year’s severance pay beyond termination date. Debt The Company has entered into a Credit Agreement which includes a Term Loan Facility and a Revolving Credit Facility. See Note 5, Debt. Tax Receivable Agreement The Company is party to the Tax Receivable Agreement with FAH, LLC and each of the Continuing Equity Owners that provides for the payment by the Company to the Continuing Equity Owners under certain circumstances. See Note 6, Liabilities under Tax Receivable Agreement. Legal Contingencies The Company is involved in claims and litigation in the ordinary course of business, some of which seek monetary damages, including claims for punitive damages, which are not covered by insurance. For certain pending matters, accruals have not been established because such matters have not progressed sufficiently through discovery, and/or development of important factual information and legal information is insufficient to enable the Company to estimate a range of possible loss, if any. An adverse determination in one or more of these pending matters could have an adverse effect on the Company’s consolidated financial position, results of operations or cash flows. The Company is, and may in the future become, subject to various legal proceedings and claims that arise in or outside the ordinary course of business. For example, on March 10, 2020, a purported stockholder of the Company filed a putative class action lawsuit in the United States District Court for the Central District of California against the Company and certain of its officers, entitled Ferreira v. Funko, Inc. et al. The complaint alleges that the Company violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) as well as Rule 10b-5 promulgated thereunder, by making allegedly materially misleading statements in its earnings announcement and Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, as well as by omitting material facts necessary to make the statements made therein not misleading. The lawsuit seeks, among other things, compensatory damages and attorneys’ fees and costs. Two additional complaints making substantially similar allegations— Nahas v. Funko, Inc. et al. and Dachev v. Funko, Inc. et al. —were filed April 3, 2020 in the United States District Court for the Central District of California and April 9, 2020 in the United States District Court for the Western District of Washington, respectively. On June 25, 2020, the Dachev action was voluntarily dismissed. On June 11, 2020, the Central District of California actions were consolidated for all purposes into one action under the Ferreira caption, and lead plaintiffs and lead counsel were appointed pursuant to the Private Securities Litigation Reform Act. Lead plaintiffs filed the consolidated complaint on July 31, 2020, against the Company and certain of its officers and directors, as well as entities affiliated with ACON Funko Investors, L.L.C. (“ACON”). The consolidated complaint added Section 10(b) and 20(a) claims based on the Company’s earnings announcement and Quarterly Report on Form 10-Q for the quarter ended June 30, 2019, as well as claims under Section 20A of the Exchange Act. All defendants moved to dismiss the consolidated action on October 2, 2020, and briefing on the motions to dismiss concluded on January 29, 2021. On February 25, 2021, the Court granted all defendants’ motions to dismiss the Ferreira action, allowing the lead plaintiffs leave to amend the complaint. Lead plaintiffs filed their amended complaint on March 29, 2021, and the Company expects briefing on the motions to dismiss that complaint to conclude in July 2021. Five shareholder derivative actions based on the earnings announcement and Quarterly Report on Form 10-Q for the quarter ended September 30, 2019 have been brought on behalf of the Company against certain of its directors and officers. Specifically, on April 23, June 5, and June 10, 2020, the actions captioned Cassella v. Mariotti et al. , Evans v. Mariotti et al. , and Igelido v. Mariotti et al. , respectively, were filed in the United States District Court for the Central District of California. On July 6, 2020, these three actions were consolidated for all purposes into one action under the title In re Funko, Inc. Derivative Litigation , and on August 13, 2020, the consolidated action was stayed pending final resolution of the motion to dismiss in the Ferreira action. Additionally, on July 14 and July 31, 2020, the actions captioned Rubin v. Mariotti et al. and Fletcher v. Mariotti et al. , respectively, were filed in the United States District Court for the District of Delaware. These two actions were consolidated for all purposes into one action under the title In re Funko, Inc. Stockholder Derivative Litigation on September 8, 2020. On October 30, 2020, the consolidated action was transferred to the United States District Court for the Central District of California. The complaints filed in the shareholder derivative actions have alleged breaches of fiduciary duties, unjust enrichment, waste of corporate assets, insider trading, and violations of the Exchange Act. The actions seek, among other things, payment of damages to the Company and to disgorge the directors and officers from all profits and benefits they obtained due to their alleged wrongful conduct. Additionally, between November 16, 2017 and June 12, 2018, seven purported stockholders of the Company filed putative class action lawsuits in the Superior Court of Washington in and for King County against the Company, certain of its officers and directors, ACON, Fundamental Capital, LLC and Funko International, LLC (collectively, “Fundamental”), the underwriters of its IPO, and certain other defendants. On July 2, 2018, the suits were ordered consolidated for all purposes into one action under the title In re Funko, Inc. Securities Litigation . On August 1, 2018, plaintiffs filed a consolidated complaint against the Company, certain of its officers and directors, ACON, Fundamental, and certain other defendants. On October 1, 2018, the Company moved to dismiss the action. The motion was fully briefed as of November 30, 2018, and oral argument on the motion was held on May 3, 2019. On August 2, 2019, the Court granted the Company’s motion to dismiss the action, allowing plaintiffs leave to amend the complaint. The Court found, inter alia, that “Funko’s statements regarding its financial disclosures were not materially false or misleading” and that “plaintiffs have not shown that Funko’s ‘opinion statements’ were false or that such statements were not simply corporate optimism or puffery.” On October 3, 2019, plaintiffs filed a first amended consolidated complaint. The Company moved to dismiss that complaint on December 5, 2019. The motion was fully briefed as of March 17, 2020, and oral argument on the motion was held on May 15, 2020. On August 5, 2020, the Superior Court of Washington in and for King County dismissed the consolidated action with prejudice. Plaintiffs filed a notice of appeal to the Washington Court of Appeals on September 4, 2020 and their opening brief on February 12, 2021. The Company expects briefing on the appeal to conclude mid-2021. On June 4, 2018, a putative class action lawsuit entitled Kanugonda v. Funko, Inc., et al. was filed in the United States District Court for the Western District of Washington against the Company, certain of its officers and directors, and certain other defendants. On January 4, 2019, a lead plaintiff was appointed in that case. On April 30, 2019, the lead plaintiff filed an amended complaint against the previously named defendants. The parties to the federal action, now captioned Berkelhammer v. Funko, Inc. et al. , have agreed to a stay of that action pending developments in the state case. The complaints in Washington state court and Berkelhammer v. Funko, Inc. et al. allege that the Company violated Sections 11, 12, and 15 of the Securities Act of 1933, as amended, by making allegedly materially misleading statements in documents filed with the U.S. Securities and Exchange Commission in connection with the Company’s IPO and by omitting material facts necessary to make the statements made therein not misleading. The lawsuits seek, among other things, compensatory statutory damages and rescissory damages in account of the consideration paid for the Company’s Class A common stock by the plaintiffs and members of the putative class, as well as attorneys’ fees and costs. Finally, on December 8, 2020 and February 3, 2021, two purported stockholders of the Company filed complaints against the Company in the Court of Chancery of the State of Delaware to compel inspection of books and records pursuant to 8 Del. C. § 220. Those actions are captioned Silverberg v. Funko, Inc . and De La Combe v. Funko, Inc . On April 21, 2021, the De La Combe action was voluntarily dismissed. The Silverberg action remains pending. The Company is party to additional legal proceedings incidental to its business. While the outcome of these additional matters could differ from management’s expectations, the Company does not believe that the resolution of such matters is reasonably likely to have a material effect on its results of operations or financial condition.

Segments

Segments	3 Months Ended
	Mar. 31, 2021
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 (the “CODM”) to allocate resources and assess performance. Because its CODM reviews financial performance and allocates resources at a consolidated level on a regular basis, the Company has one segment. The following tables present summarized product information as a percent of sales: Three Months Ended March 31, 2021 2020 Figures 79.6 % 81.4 % Other 20.4 % 18.6 % Three Months Ended March 31, 2021 2020 Pop! Branded Products 79.5 % 82.7 % Loungefly Branded Products 13.0 % 9.9 % Other 7.5 % 7.4 % The following tables present summarized geographical information (in thousands): Three Months Ended March 31, 2021 2020 Net sales: United States $ 136,521 $ 98,509 Europe 39,765 25,578 Other International 12,891 12,613 Total net sales $ 189,177 $ 136,700 March 31, 2021 December 31, 2020 Long-term assets: United States $ 70,364 $ 72,813 Vietnam and China 15,284 16,144 United Kingdom 29,664 29,998 Total long-lived assets $ 115,312 $ 118,955

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Funko, Inc. is taxed as a corporation and pays corporate federal, state and local taxes on income allocated to it from FAH, LLC based upon Funko, Inc.’s economic interest held in FAH, LLC. FAH, LLC is treated as a pass-through partnership for income tax reporting purposes. FAH, LLC’s members, including the Company, are liable for federal, state and local income taxes based on their share of FAH, LLC’s pass-through taxable income. The Company recorded $2.3 million of income tax expense and $0.9 million of income tax benefit for the three months ended March 31, 2021 and 2020, respectively. The Company’s effective tax rate for the three months ended March 31, 2021 was 17.1%. The Company’s effective tax rate is less than the statutory rate of 21% primarily because the Company is not liable for income taxes on the portion of FAH, LLC’s earnings that are attributable to non-controlling interests. The Company is party to the Tax Receivable Agreement with FAH, LLC and each of the Continuing Equity Owners that provides for the payment by the Company to the Continuing Equity Owners under certain circumstances. See Note 6, Liabilities under Tax Receivable Agreement.

Stockholders_ Equity

Stockholders’ Equity	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Stockholders' Equity	. Stockholders’ Equity The following is a reconciliation of changes in stockholders’ equity for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 (In thousands) Class A common stock Beginning balance $ 4 $ 3 Shares issued — — Ending balance $ 4 $ 3 Class B common stock Beginning balance $ 1 $ 1 Redemption of common units of FAH, LLC — — Ending balance $ 1 $ 1 Additional paid-in capital Beginning balance $ 216,141 $ 204,174 Equity-based compensation 2,690 2,413 Shares issued for equity-based compensation awards 33 45 Shares withheld related to net share settlement of equity-based — (98) Other 200 — Redemption of common units of FAH, LLC 6,032 37 Establishment of liabilities under tax receivable agreement and (2,194) (1) Ending balance $ 222,902 $ 206,570 Accumulated other comprehensive (loss) income Beginning balance $ 1,718 $ 791 Foreign currency translation gain (loss), net of tax 271 (1,576) Ending balance $ 1,989 $ (785) Retained earnings Beginning balance $ 24,403 $ 20,442 Net income (loss) attributable to Funko, Inc. 6,514 (4,126) Ending balance $ 30,917 $ 16,316 Non-controlling interests Beginning balance $ 80,178 $ 79,733 Distributions to Continuing Equity Owners (2,445) (2,675) Other 861 — Redemption of common units of FAH, LLC (6,032) (37) Foreign currency translation gain (loss), net of tax 152 (922) Net income (loss) attributable to non-controlling interests 4,572 (1,606) Ending balance $ 77,286 $ 74,493 Total stockholders’ equity $ 333,099 $ 296,598 The following is a reconciliation of changes in Class A and Class B common shares outstanding for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 (In thousands) Class A common shares outstanding Beginning balance 35,657 34,918 Shares issued for equity-based compensation awards 17 27 Redemption of common units of FAH, LLC 1,162 8 Ending balance 36,836 34,953 Class B common shares outstanding Beginning balance 14,040 14,515 Redemption of common units of FAH, LLC (1,000) — Ending balance 13,040 14,515 Total Class A and Class B common shares outstanding 49,876 49,468

Non-controlling Interests

Non-controlling Interests	3 Months Ended
	Mar. 31, 2021
Noncontrolling Interest [Abstract]
Non-controlling Interests	Non-controlling interests Funko, Inc. is the sole managing member of FAH, LLC and as a result consolidates the financial results of FAH, LLC and reports a non-controlling interest representing the common units of FAH, LLC held by the Continuing Equity Owners. Changes in Funko, Inc.’s ownership interest in FAH, LLC while Funko, Inc. retains its controlling interest in FAH, LLC will be accounted for as equity transactions. As such, future redemptions or direct exchanges of common units of FAH, LLC by the Continuing Equity Owners will result in a change in ownership and reduce the amount recorded as non-controlling interest and increase or decrease additional paid-in capital when FAH, LLC has positive or negative net assets, respectively. Net income (loss) and comprehensive income (loss) are attributed between Funko, Inc. and non-controlling interest holders based on each party’s relative economic ownership interest in FAH, LLC. As of March 31, 2021 and December 31, 2020, Funko, Inc. owned 36.8 million and 35.7 million of FAH, LLC common units, respectively, representing a 71.8% and 69.5% economic ownership interest in FAH, LLC, respectively. Net income (loss) and comprehensive income (loss) of FAH, LLC excludes certain activity attributable to Funko, Inc., including equity-based compensation expense for share-based compensation awards issued by Funko, Inc. and income tax expense (benefit) for corporate, federal, state and local taxes attributable to Funko, Inc. The following represents the amounts excluded from the computation of net income (loss) and comprehensive income (loss) of FAH, LLC for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 (In thousands) Funko, Inc. Equity-based compensation $ 2,690 $ 2,367 Income tax expense (benefit) $ 1,825 $ (1,180)

Earnings (loss) per Share

Earnings (loss) per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings (loss) per Share	Earnings (loss) per Share Basic earnings (loss) per share of Class A common stock is computed by dividing net income (loss) attributable to Funko, Inc. by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted earnings (loss) per share of Class A common stock is computed by dividing net income (loss) attributable to Funko, Inc. by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities. The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings (loss) per share of Class A common stock (in thousands, except shares and per share amounts): Three Months Ended March 31, 2021 2020 Numerator: Net income (loss) $ 11,086 $ (5,732) Less : net income (loss) attributable to non-controlling interests 4,572 (1,606) Net income (loss) attributable to Funko, Inc. — basic and diluted $ 6,514 $ (4,126) Denominator: Weighted-average shares of Class A common stock outstanding — basic 36,193,572 34,943,875 Add: Dilutive common units of FAH, LLC that are convertible into Class A common stock 227,323 — Add : Dilutive Funko, Inc. equity compensation awards 1,418,146 — Weighted-average shares of Class A common stock outstanding — diluted 37,839,041 34,943,875 Earnings (loss) per share of Class A common stock — basic $ 0.18 $ (0.12) Earnings (loss) per share of Class A common stock — diluted $ 0.17 $ (0.12) For the three months ended March 31, 2021 and 2020, an aggregate of 16.3 million and 20.1 million, respectively, of potentially dilutive securities were excluded from the weighted-average in the computation of diluted earnings (loss) per share of Class A common stock because the effect would have been anti-dilutive. For the three months ended March 31, 2021 and 2020, anti-dilutive securities included 15.1 million and 15.9 million, respectively, of common units of FAH, LLC that are convertible into Class A common stock, but were excluded from the computations of diluted earnings (loss) per share because the effect would have been anti-dilutive under the if-converted method. Shares of the Company’s Class B common stock do not participate in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted earnings (loss) per share of Class B common stock under the two-class method has not been presented.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates and assumptions.

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Summary of Debt	Debt consists of the following (in thousands): March 31, 2021 December 31, 2020 Term Loan Facility $ 185,893 $ 193,875 Debt issuance costs (2,856) (3,105) Total term debt 183,037 190,770 Less: current portion 14,666 10,758 Long-term debt, net $ 168,371 $ 180,012

Liabilities under Tax Receiva_2

Liabilities under Tax Receivable Agreement (Tables)	3 Months Ended
	Mar. 31, 2021
Liabilities Under Tax Receivable Agreement [Abstract]
Summary of Tax Receivable Agreement Liability	The following table summarizes changes in the amount of the Company’s Tax Receivable Agreement liability for the three months ended March 31, (in thousands): 2021 2020 Beginning Balance $ 62,317 $ 65,816 Additional liabilities for exchanges 5,973 4 Payments under tax receivable agreement (6) (166) Ending balance $ 68,284 $ 65,654

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Summary of Main Product Categories as Percent of Sales	The following tables present summarized product information as a percent of sales: Three Months Ended March 31, 2021 2020 Figures 79.6 % 81.4 % Other 20.4 % 18.6 % Three Months Ended March 31, 2021 2020 Pop! Branded Products 79.5 % 82.7 % Loungefly Branded Products 13.0 % 9.9 % Other 7.5 % 7.4 %
Summary of Net Sales and Long-Lived Assets	The following tables present summarized geographical information (in thousands): Three Months Ended March 31, 2021 2020 Net sales: United States $ 136,521 $ 98,509 Europe 39,765 25,578 Other International 12,891 12,613 Total net sales $ 189,177 $ 136,700 March 31, 2021 December 31, 2020 Long-term assets: United States $ 70,364 $ 72,813 Vietnam and China 15,284 16,144 United Kingdom 29,664 29,998 Total long-lived assets $ 115,312 $ 118,955

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Reconciliation of Changes in Stockholders' Equity	The following is a reconciliation of changes in stockholders’ equity for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 (In thousands) Class A common stock Beginning balance $ 4 $ 3 Shares issued — — Ending balance $ 4 $ 3 Class B common stock Beginning balance $ 1 $ 1 Redemption of common units of FAH, LLC — — Ending balance $ 1 $ 1 Additional paid-in capital Beginning balance $ 216,141 $ 204,174 Equity-based compensation 2,690 2,413 Shares issued for equity-based compensation awards 33 45 Shares withheld related to net share settlement of equity-based — (98) Other 200 — Redemption of common units of FAH, LLC 6,032 37 Establishment of liabilities under tax receivable agreement and (2,194) (1) Ending balance $ 222,902 $ 206,570 Accumulated other comprehensive (loss) income Beginning balance $ 1,718 $ 791 Foreign currency translation gain (loss), net of tax 271 (1,576) Ending balance $ 1,989 $ (785) Retained earnings Beginning balance $ 24,403 $ 20,442 Net income (loss) attributable to Funko, Inc. 6,514 (4,126) Ending balance $ 30,917 $ 16,316 Non-controlling interests Beginning balance $ 80,178 $ 79,733 Distributions to Continuing Equity Owners (2,445) (2,675) Other 861 — Redemption of common units of FAH, LLC (6,032) (37) Foreign currency translation gain (loss), net of tax 152 (922) Net income (loss) attributable to non-controlling interests 4,572 (1,606) Ending balance $ 77,286 $ 74,493 Total stockholders’ equity $ 333,099 $ 296,598
Reconciliation of Changes in Class A and Class B Common Shares Outstanding	The following is a reconciliation of changes in Class A and Class B common shares outstanding for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 (In thousands) Class A common shares outstanding Beginning balance 35,657 34,918 Shares issued for equity-based compensation awards 17 27 Redemption of common units of FAH, LLC 1,162 8 Ending balance 36,836 34,953 Class B common shares outstanding Beginning balance 14,040 14,515 Redemption of common units of FAH, LLC (1,000) — Ending balance 13,040 14,515 Total Class A and Class B common shares outstanding 49,876 49,468

Noncontrolling Interest (Tables

Noncontrolling Interest (Tables)	3 Months Ended
	Mar. 31, 2021
Noncontrolling Interest [Abstract]
Schedule of Amounts Excluded from the Computation of Net Income (Loss) and Comprehensive Income (Loss) of FAH, LLC	The following represents the amounts excluded from the computation of net income (loss) and comprehensive income (loss) of FAH, LLC for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 (In thousands) Funko, Inc. Equity-based compensation $ 2,690 $ 2,367 Income tax expense (benefit) $ 1,825 $ (1,180)

Earnings (loss) per Share (Tabl

Earnings (loss) per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Reconciliations of Numerators and Denominators Used to Compute Basic and Diluted Earnings Per Share	The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings (loss) per share of Class A common stock (in thousands, except shares and per share amounts): Three Months Ended March 31, 2021 2020 Numerator: Net income (loss) $ 11,086 $ (5,732) Less : net income (loss) attributable to non-controlling interests 4,572 (1,606) Net income (loss) attributable to Funko, Inc. — basic and diluted $ 6,514 $ (4,126) Denominator: Weighted-average shares of Class A common stock outstanding — basic 36,193,572 34,943,875 Add: Dilutive common units of FAH, LLC that are convertible into Class A common stock 227,323 — Add : Dilutive Funko, Inc. equity compensation awards 1,418,146 — Weighted-average shares of Class A common stock outstanding — diluted 37,839,041 34,943,875 Earnings (loss) per share of Class A common stock — basic $ 0.18 $ (0.12) Earnings (loss) per share of Class A common stock — diluted $ 0.17 $ (0.12)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 39.8
Funko Acquisition Holdings, L.L.C. | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value of debt instruments	185.9	$ 193.9
Term Loan Facility	$ 183	$ 190.8

Debt - Summary of Debt (Detail)

Debt - Summary of Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Oct. 22, 2018
Debt Instrument [Line Items]
Debt issuance costs	$ (2,856)	$ (3,105)
Total term debt	183,037	190,770
Current portion of long-term debt, net of unamortized discount	14,666	10,758
Long-term debt, net	168,371	180,012
Term Loan Facility
Debt Instrument [Line Items]
Term Loan Facility	$ 185,893	$ 193,875	$ 235,000

Debt - New Credit Facilities -

Debt - New Credit Facilities - Additional Information (Detail) - USD ($)	Sep. 23, 2019	Oct. 22, 2018	Mar. 31, 2021	Dec. 31, 2020	Feb. 11, 2019
Debt Instrument [Line Items]
Remaining borrowing capacity			$ 75,000,000	$ 75,000,000
Term Loan Facility
Debt Instrument [Line Items]
Term Loan Facility		$ 235,000,000	185,893,000	$ 193,875,000
Increase in principal balance under second amendment	$ 25,000,000
Long term debt maturity percentage first and second year		5.00%
Long term debt maturity percentage third and fourth year		10.00%
Long term debt maturity percentage fifth and sixth year		12.50%
Term Loan Facility | Euro Rate
Debt Instrument [Line Items]
Interest rate margins	3.00%
Interest rate of borrowings	1.00%
Term Loan Facility | Base Rate Loans
Debt Instrument [Line Items]
Interest rate margins	2.00%
Supplementary leverage ratio	0.25%
Term Loan Facility | Swing Rate
Debt Instrument [Line Items]
Interest rate margins	2.00%
Supplementary leverage ratio	0.25%
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit		$ 50,000,000			$ 75,000,000
Reduction in interest margin applicable to all loans	0.75%
Line of credit			$ 0

Liabilities under Tax Receiva_3

Liabilities under Tax Receivable Agreement - Additional information (Detail) - USD ($) $ in Thousands, shares in Millions	Nov. 01, 2017	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Liabilities Under Tax Receivable Agreement [Line Items]
Percentage of tax benefit paid to equity owner	85.00%
Common units acquired (in shares)		1.2
Increase in deferred tax assets		$ 3,800
Payments under tax receivable agreement		6	$ 166
Obligation included in accrued expenses		68,284	$ 65,654	$ 62,317	$ 65,816
Funko Acquisition Holdings, L.L.C.
Liabilities Under Tax Receivable Agreement [Line Items]
Obligation included in accrued expenses		68,300		62,300
Funko Acquisition Holdings, L.L.C. | Accrued Expenses and Other Current Liabilities
Liabilities Under Tax Receivable Agreement [Line Items]
Obligation included in accrued expenses		$ 600		$ 2,000

Liabilities under Tax Receiva_4

Liabilities under Tax Receivable Agreement - Schedule of Liability Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Liabilities Under Tax Receivable Agreement [Roll Forward]
Beginning Balance	$ 62,317	$ 65,816
Additional liabilities for exchanges	5,973	4
Payments under tax receivable agreement	(6)	(166)
Ending balance	$ 68,284	$ 65,654

Commitments and Contingencies -

Commitments and Contingencies - Additional information (Detail) - Lawsuit	Feb. 03, 2021	Sep. 08, 2020	Jul. 31, 2020	Jul. 06, 2020	Jun. 10, 2020	Apr. 09, 2020	Jul. 02, 2018	Jun. 12, 2018	Mar. 31, 2021
Lessee, Lease, Description [Line Items]
Severance payment period									1 year
Berkelhammer v. Funko, inc. et. al.
Lessee, Lease, Description [Line Items]
Number of additional putative class action lawsuits filed							1
Nahas v. Funko, Inc. et al. and Dachev v. Funko, Inc. et al.
Lessee, Lease, Description [Line Items]
Number of additional putative class action lawsuits filed						2
In re Funko, Inc. Derivative Litigation
Lessee, Lease, Description [Line Items]
Number of additional putative class action lawsuits filed				1	5
Rubin v. Mariotti et al. and Fletcher v. Mariotti et al.
Lessee, Lease, Description [Line Items]
Number of additional putative class action lawsuits filed		1	2
King County v. Fundamental
Lessee, Lease, Description [Line Items]
Number of additional putative class action lawsuits filed								7
Silverberg v. Funko, Inc. and De La Combe v. Funko, Inc.
Lessee, Lease, Description [Line Items]
Number of additional putative class action lawsuits filed	2

Segments - Additional Informati

Segments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2021Segment
Segment Reporting [Abstract]
Number of reportable segments	1

Segments - Summary of Main Prod

Segments - Summary of Main Product Categories as Percent of Sales (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Schedule of Property and Equipment Net by Country [Line Items]
Net sales	$ 189,177	$ 136,700
United States
Schedule of Property and Equipment Net by Country [Line Items]
Net sales	136,521	98,509
Europe
Schedule of Property and Equipment Net by Country [Line Items]
Net sales	39,765	25,578
Other International
Schedule of Property and Equipment Net by Country [Line Items]
Net sales	$ 12,891	$ 12,613
Sales Revenue | Product Concentration Risk | Figures
Schedule of Property and Equipment Net by Country [Line Items]
Percent of sales	79.60%	81.40%
Sales Revenue | Product Concentration Risk | Other
Schedule of Property and Equipment Net by Country [Line Items]
Percent of sales	20.40%	18.60%
Sales Revenue | Product Concentration Risk | Pop! Branded Products
Schedule of Property and Equipment Net by Country [Line Items]
Percent of sales	79.50%	82.70%
Sales Revenue | Product Concentration Risk | Loungefly Branded Products
Schedule of Property and Equipment Net by Country [Line Items]
Percent of sales	13.00%	9.90%
Sales Revenue | Product Concentration Risk | Other
Schedule of Property and Equipment Net by Country [Line Items]
Percent of sales	7.50%	7.40%

Segments - Summary of Net Sales

Segments - Summary of Net Sales and Long-Lived Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total long-lived assets	$ 115,312	$ 118,955
United States
Segment Reporting Information [Line Items]
Total long-lived assets	70,364	72,813
Vietnam and China
Segment Reporting Information [Line Items]
Total long-lived assets	15,284	16,144
United Kingdom
Segment Reporting Information [Line Items]
Total long-lived assets	$ 29,664	$ 29,998

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 2,293	$ (856)
Effective income tax rate	17.10%
Statutory income tax rate	21.00%

Stockholders' Equity - Reconcil

Stockholders' Equity - Reconciliation of Changes in Stockholders' Equity (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 322,445
Foreign currency translation gain (loss), net of tax	423	$ (2,498)
Net income (loss)	11,086	(5,732)
Ending balance	333,099	296,598
Common Stock | Class A common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	4	3
Shares issued	0	0
Ending balance	4	3
Common Stock | Class B common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1	1
Redemption of common units of FAH, LLC	0	0
Ending balance	1	1
Additional paid-in capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	216,141	204,174
Equity-based compensation	2,690	2,413
Shares issued for equity-based compensation awards	33	45
Shares withheld related to net share settlement of equity-based compensation awards	0	(98)
Other	200	0
Redemption of common units of FAH, LLC	6,032	37
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets	(2,194)	(1)
Ending balance	222,902	206,570
Accumulated other comprehensive (loss) income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,718	791
Foreign currency translation gain (loss), net of tax	271	(1,576)
Ending balance	1,989	(785)
Retained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	24,403	20,442
Net income (loss)	6,514	(4,126)
Ending balance	30,917	16,316
Non-controlling interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	80,178	79,733
Distributions to Continuing Equity Owners	(2,445)	(2,675)
Other	861	0
Redemption of common units of FAH, LLC	(6,032)	(37)
Foreign currency translation gain (loss), net of tax	152	(922)
Net income (loss)	4,572	(1,606)
Ending balance	$ 77,286	$ 74,493

Stockholders' Equity - Reconc_2

Stockholders' Equity - Reconciliation of Changes in Class A and Class B Common Shares Outstanding (Detail) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Class A common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares outstanding (in shares)	35,657,000	34,918,000
Shares issued for equity-based compensation awards (in shares)	17,000	27,000
Redemption of common units of FAH, LLC (in shares)	1,162,000	8,000
Common shares outstanding (in shares)	36,836,000	34,953,000
Class B common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares outstanding (in shares)	14,040,000	14,515,000
Redemption of common units of FAH, LLC (in shares)	(1,000,000)	0
Common shares outstanding (in shares)	13,040,000	14,515,000
Class A and Class B common shares outstanding
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares outstanding (in shares)	49,876,000	49,468,000

Non-controlling Interests - Add

Non-controlling Interests - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Noncontrolling Interest [Line Items]
Income tax expense (benefit)	$ 2,293	$ (856)
Funko Acquisition Holdings, L.L.C.
Noncontrolling Interest [Line Items]
Equity-based compensation	2,690	2,367
Income tax expense (benefit)	$ 1,825	$ (1,180)
FAH, LLC
Noncontrolling Interest [Line Items]
Ownership percentage	71.80%		69.50%
Class A common shares outstanding
Noncontrolling Interest [Line Items]
Common stock, shares outstanding (in shares)	36,836,000	34,953,000		35,657,000	34,918,000
Class A common shares outstanding | FAH, LLC
Noncontrolling Interest [Line Items]
Common stock, shares outstanding (in shares)	36,800,000			35,700,000

Earnings (loss) per Share - Sch

Earnings (loss) per Share - Schedule of Reconciliations of Numerators and Denominators Used to Compute Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net income (loss)	$ 11,086	$ (5,732)
Less: net income (loss) attributable to non-controlling interests	4,572	(1,606)
Net income (loss) attributable to Funko, Inc.	$ 6,514	$ (4,126)
Denominator:
Weighted-average shares of Class A common stock outstanding — basic (in shares)	36,193,572	34,943,875
Add: Effect of dilutive equity-based compensation awards and common units of FAH, LLC that are convertible into Class A common stock (in shares)	1,418,146	0
Weighted-average shares of Class A common stock outstanding — diluted (in shares)	37,839,041	34,943,875
Earnings (loss) per share of Class A common stock — basic (in dollars per share)	$ 0.18	$ (0.12)
Earnings (loss) per share of Class A common stock — diluted (in dollars per share)	$ 0.17	$ (0.12)
Funko Acquisition Holdings, L.L.C.
Denominator:
Add: Effect of dilutive equity-based compensation awards and common units of FAH, LLC that are convertible into Class A common stock (in shares)	227,323	0

Earnings (loss) per Share - Add

Earnings (loss) per Share - Additional Information (Detail) - Class A common shares outstanding - shares shares in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive shares excluded from weighted-average in computation of diluted earnings per share (in shares)	16.3	20.1
Funko Acquisition Holdings, L.L.C.
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive shares excluded from weighted-average in computation of diluted earnings per share (in shares)	15.1	15.9