Funko Inc
For the period ended Dec 31, 2023. Filed Mar 7, 2024.
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FY2023 · Filed Mar 7, 2024
FNKO$7.24+1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| (in thousands) | |||
| Operating Activities | |||
| Net (loss) income | $(164,438) | $(5,240) | $67,854 |
| Adjustments to reconcile net income to net cash (used in) provided byoperating activities: | |||
| Depreciation, amortization and other | 57,389 | 47,919 | 40,056 |
| Equity-based compensation | 10,534 | 16,591 | 12,994 |
| Amortization of debt issuance costs and debt discounts | 1,274 | 902 | 1,118 |
| Loss on debt extinguishment | 494 | — | 675 |
| Gain on tax receivable agreement liability adjustment | (100,223) | — | — |
| Deferred tax expense (benefit) | 123,124 | (17,414) | (361) |
| Other | 4,090 | 5,244 | 1,403 |
| Changes in operating assets and liabilities, net of amounts acquired: | |||
| Accounts receivable, net | 40,513 | 19,075 | (56,648) |
| Inventory | 122,479 | (82,214) | (107,166) |
| Prepaid expenses and other assets | 3,242 | (7,263) | 3,700 |
| Accounts payable | (17,968) | 11,043 | 26,933 |
| Income taxes payable | 75 | (15,018) | 15,585 |
| Accrued royalties | (14,723) | 9,082 | 17,633 |
| Accrued expenses and other liabilities | (34,927) | (22,841) | 63,586 |
| Net cash provided by (used in) operating activities | 30,935 | (40,134) | 87,362 |
| Investing Activities | |||
| Purchase of property and equipment | (35,131) | (59,148) | (27,759) |
| Acquisitions of business and intangible assets, net of cash acquired | (5,364) | (19,479) | 199 |
| Other | 699 | 562 | 179 |
| Net cash used in investing activities | (39,796) | (78,065) | (27,381) |
| Financing Activities | |||
| Borrowings on line of credit | 71,000 | 120,000 | — |
| Payments on line of credit | (20,500) | (50,000) | — |
| Debt issuance costs | (1,957) | (405) | (1,055) |
| Proceeds from long-term debt, net | — | 20,000 | 180,000 |
| Payment of long-term debt | (22,581) | (18,000) | (198,375) |
| Contingent consideration | — | — | (2,000) |
| Distributions to continuing equity owners | (1,118) | (10,710) | (9,277) |
| Payments under tax receivable agreement | (4) | (7,718) | (1,715) |
| Proceeds from exercise of equity-based options | 756 | 1,472 | 3,794 |
| Net cash provided by (used in) financing activities | 25,596 | 54,639 | (28,628) |
| Effect of exchange rates on cash and cash equivalents | 518 | (797) | (51) |
| Net change in cash and cash equivalents | 17,253 | (64,357) | 31,302 |
| Cash and cash equivalents at beginning of period | 19,200 | 83,557 | 52,255 |
| Cash and cash equivalents at end of period | $36,453 | $19,200 | $83,557 |
| Supplemental Cash Flow Information | |||
| Cash paid for interest | $24,635 | $8,856 | $5,679 |
| Income tax payments | 1,059 | 22,363 | 1,462 |
| Establishment of liabilities under tax receivable agreement | — | 30,034 | 20,691 |
| Issuance of equity instruments for acquisitions | — | 1,487 | — |
| Tenant allowance | — | 17,236 | — |
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