Schedule I: Condensed Financial Information of Registrant (Tables)

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Financial Statements

	Year Ended December 31,
	2021		2020		2019
	(in thousands)
Intercompany revenue	$	82	$	307	$	739
Selling, general, and administrative expenses	13,163		10,269		11,211
Total operating expenses	13,163		10,269		11,211
Loss from operations	(13,081)		(9,962)		(10,472)
Interest (expense) income, net	3		(36)		—
Tax receivable agreement liability adjustment	(1,590)		(87)		(152)
Equity in net income of subsidiaries	72,916		13,674		24,525
Income before income taxes	58,248		3,589		13,901
Income tax expense (benefit)	14,348		(372)		2,176
Net income	$	43,900	$	3,961	$	11,725

	Year Ended December 31,
	2021		2020		2019
	(in thousands)
Net income	$	43,900	$	3,961	$	11,725
Other comprehensive income:
Foreign currency translation (loss) gain, net of tax effect of $163, $(274) and $(282) for the years ended December 31, 2021, 2020 and 2019, respectively	(544)		927		958
Reclassification of foreign currency translation gain into net income	$	(96)	$	—	$	—
Comprehensive income attributable to Funko, Inc.	$	43,260	$	4,888	$	12,683

	December 31,
	2021		2020
	(in thousands, except per share data)
Assets
Current assets:
Cash and cash equivalents	$	61,943	$	34,568
Income tax receivable	—		294
Total current assets	61,943		34,862
Intercompany receivable	116,746		117,995
Deferred tax asset	74,464		54,734
Investment in subsidiaries	166,054		97,523
Total assets	$	419,207	$	305,114
Liabilities and Stockholders' Equity
Current liabilities:
Tax payable	$	14,684	$	—
Current portion of liabilities under tax receivable agreement	7,362		2,020
Accrued expenses and other current liabilities	—		40
Total current liabilities	22,046		2,060
Liabilities under tax receivable agreement, net of current portion	75,523		60,297
Other long-term liabilities	—		490
Commitments and contingencies
Stockholders' equity:
Class A common stock, par value $0.0001 per share, 200,000 shares authorized; 40,088 shares and 35,657 shares issued and outstanding as of December 31, 2021 and 2020, respectively	4		4
Class B common stock, par value $0.0001 per share, 50,000 shares authorized; 10,691 shares and 14,040 shares issued and outstanding as of December 31, 2021 and 2020, respectively	1		1
Additional paid-in-capital	252,505		216,141
Accumulated other comprehensive income	1,078		1,718
Retained earnings	68,050		24,403
Total stockholders' equity	321,638		242,267
Total liabilities and stockholders' equity	$	419,207	$	305,114

	Year Ended December 31,
	2021		2020		2019
	(in thousands)
Operating Activities
Net income	$	43,900	$	3,961	$	11,725
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in net income of subsidiaries	(72,916)		(13,674)		(24,525)
Equity-based compensation	12,994		10,007		10,827
Deferred tax expense (benefit)	(203)		2,792		(2,518)
Tax receivable liability adjustment	1,590		87		152
Changes in operating assets and liabilities:
Income tax receivable	294		3,521		(3,816)
Due from related parties, net	1,351		26,007		(19,182)
Prepaid expenses and other assets	—		—		(2,336)
Income taxes payable	14,684		—		(3,497)
Accrued expenses and other liabilities	(571)		304		1,985
Net cash provided by (used in) operating activities	1,123		33,005		(31,185)
Financing Activities
Tax distribution received from FAH, LLC	24,173		5,825		29,502
Tax receivable agreement payments	(1,715)		(4,639)		(173)
Proceeds from exercise of equity-based options	3,794		41		2,148
Net cash provided by financing activities	26,252		1,227		31,477
Net increase in cash and cash equivalents	27,375		34,232		292
Cash and cash equivalents at beginning of period	34,568		336		44
Cash and cash equivalents at end of period	$	61,943	$	34,568	$	336
Supplemental Cash Flow Information
Income tax payments	$	23	$	2,116	$	11,969
Establishment of liabilities under tax receivable agreement	20,691		1,000		59,045
Issuance of equity instruments for acquisitions	—		—		2,221