Home / Going-concern warnings / Funko, Inc.
Filed 2025-05-08 路 Form 10-Q 路 Accession 0001704711-25-000073 micro
Price before filing: $3.97 (2025-05-07 close, split/dividend-adjusted)
Market cap at flag: $228.3M (2025-05-08) 路 Latest: $368.9M (2026-10-16)
| Window | FNKO | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +29.2% | +6.9% | +22.4% | 2025-06-09 |
| 90 days | -9.6% | +13.1% | -22.7% | 2025-08-06 |
| 180 days | -25.4% | +21.0% | -46.5% | 2025-11-04 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 3 insiders sold $337K (12 sales); 2 insiders bought $213K (2 purchases)
30 days after: 2 insiders sold $234K (3 sales)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-03-07 | Le Pendeven Yves CFO | Sale | 1,006 | $8.88 | $9K | yes | Form 4 |
| 2025-03-07 | Oddie Andrew David CHIEF COMMERCIAL OFFICER | Sale | 3,867 | $8.87 | $34K | yes | Form 4 |
| 2025-03-10 | Le Pendeven Yves CFO | Sale | 320 | $8.16 | $3K | yes | Form 4 |
| 2025-03-10 | Oddie Andrew David CHIEF COMMERCIAL OFFICER | Sale | 2,563 | $8.13 | $21K | yes | Form 4 |
| 2025-03-11 | Williams Cynthia W Chief Executive Officer, Director | Purchase | 14,000 | $7.63 | $107K | no | Form 4 |
| 2025-03-14 | Le Pendeven Yves CFO | Sale | 2,490 | $7.10 | $18K | no | Form 4 |
| 2025-03-14 | Oddie Andrew David CHIEF COMMERCIAL OFFICER | Sale | 6,243 | $7.08 | $44K | no | Form 4 |
| 2025-03-14 | Oddie Andrew David CHIEF COMMERCIAL OFFICER | Sale | 7,433 | $7.08 | $53K | no | Form 4 |
| 2025-03-14 | Oddie Andrew David CHIEF COMMERCIAL OFFICER | Sale | 746 | $7.16 | $5K | no | Form 4 |
| 2025-03-17 | Harinstein Jason Director | Purchase | 15,000 | $7.09 | $106K | no | Form 4 |
| 2025-03-18 | Daw Tracy D CHIEF LEGAL OFFICER | Sale | 18,608 | $7.14 | $133K | yes | Form 4 |
| 2025-04-22 | Le Pendeven Yves CFO | Sale | 233 | $4.22 | $984 | no | Form 4 |
| 2025-04-22 | Oddie Andrew David CHIEF COMMERCIAL OFFICER | Sale | 2,436 | $4.17 | $10K | no | Form 4 |
| 2025-04-24 | Daw Tracy D CHIEF LEGAL OFFICER | Sale | 1,495 | $4.03 | $6K | yes | Form 4 |
| 2025-05-08: red flag filed | |||||||
| 2025-05-13 | Oddie Andrew David CHIEF COMMERCIAL OFFICER | Sale | 9,580 | $4.96 | $47K | yes | Form 4 |
| 2025-05-21 | Williams Cynthia W Chief Executive Officer, Director | Sale | 13,331 | $3.97 | $53K | yes | Form 4 |
| 2025-05-21 | Williams Cynthia W Chief Executive Officer, Director | Sale | 34,126 | $3.93 | $134K | yes | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-02-07 to 2025-06-07. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"The forecasted non-compliance with these covenants raise substantial doubt about the Company's ability to continue as a going concern for the next twelve months from the date of issuance of these financial statements."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-03-31)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
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