Funko, Inc.

Good afternoon and welcome to Fundco's 2025 second quarter financial results conference call. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session and instructions will follow at that time. Please be advised that reproduction of this call in whole or in part is not permitted without written authorisation from the company. As a reminder, this call is being recorded. I will now turn the call over to Fundco's Director of Investor Relations, Rob Jaffe, please proceed.

Hello, everyone, and thank you for joining us today to discuss Funko's 2025 second quarter financial results. On the call are Mike Lunsford, our interim chief executive officer, and Yves Lependovin, the company's chief financial officer. This call is being broadcast live at investor.funko.com. A playback will be available for at least one year on the company's website. I want to remind everyone that during the course of this call, management's discussion will include forward-looking information. These statements represent our best judgment as of today about the company's future results and performance. Our actual results are subject to many risks and uncertainties that may differ materially from those stated or implied, including those discussed in our earnings release. Additional information concerning factors that could cause actual results to differ materially is contained in our most recently filed SEC reports. In addition, during this call, we refer to non-GAAP financial measures that are not prepared in accordance with U.S. generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. Investors are encouraged to review Funko's press release announcing its 2025 second quarter financial results for the company's reasons for presenting non-GAAP financial measures. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures is also attached to the company's earnings press release issued earlier today. Also, we have posted supplemental financial information on the investor relations section of the company's website, which includes, among other things, a gross margin bridge and key IP and product drivers. I will now turn the call over to Mike Lunsford.

Mike? Thanks, Rob. Good afternoon, everyone, and thank you for joining us. Many of you know me from my time as Funko's interim CEO in 2023 and 2024 and as a longtime board member. For the past month, I stepped in again at the board's request to help Funko realize the full potential of its business by accelerating the organic growth initiatives, exploring financial and strategic options for the business, and identifying Funko's next CEO. We have commenced a search for a permanent CEO. The search will focus on external candidates, and we expect to name the CEO in the near future. Now let's move on to our financial performance and outlook. As we signaled on our last call, our Q2 financial results reflect the impact of the ever-changing and uncertain US trade policies. Nonetheless, we moved quickly to mitigate the financial impact of higher tariffs by cutting costs, including a workforce reduction of approximately 20%, accelerating our shift in production out of China to other sourcing countries, raising prices, and making other necessary changes to minimize the ongoing impact of these trade disruptions. While additional changes to the economic and trade environment may affect our future sales and earnings, we believe we now have a relatively robust plan for the back half of the year that will result in improved financial performance compared with the first half. I'll now turn it over to Eve to provide more detail on our Q2 results and second half outlook.