A giant in the collectible space for many years, the recent implementation of tarrifs and the requirement to move away from factories in the far east have meant that the quarter ending June 2025 saw a 22% drop in profits for Funko, which equates to $40.5m. With the market changing, the Seattle Times take a closer look at these worrying figures.
For Funko, the Everett-based maker of bobbleheads and other collectibles, months of tariffs and economic angst have been enough to make your head spin. Though Funko’s wares remain hot — “pops” of basketball phenom Caitlin Clark, Superman and Spider-Man are selling well — the company is in the red. For the quarter ending June 30, Funko reported a $40.5 million loss and a 22% drop in sales, to $194 million, compared with the same period a year ago. The losses come as the company grapples with a rapidly changing economy.
In May, Funko said it would cut 20% of its global workforce in response to higher costs from U.S. tariffs on countries, such as China, where many of its pop culture products are made. In June, the cuts were extended to CEO Cynthia Williams, who was ousted just 14 months after being hired to reverse a postpandemic slide in sales at Funko. That all leaves Funko, founded in Snohomish in 1998, with the sort of split-identity more befitting for some of its action figures.
Funko expects tariffs and related disruptions to boost expenses by around $40 million this year, company officials said during a Thursday call with industry analysts. But the company also said it has moved quickly to soften the effects of tariffs, by raising prices in the U.S. and shifting production from China to Vietnam and other countries that face lower U.S. tariffs. According to The Wall Street Journal, Funko planned to reduce the share of its production in China from 30% in April to just 5% by the end of the year.
