Funko's sales rose 39% over the previous year in Q1 to $137.2 million, according to the financial results released Thursday.  That's a faster growth rate than the 21% rate in Q4 (see "Funko Sales Up in Q4").  Growth was fastest outside the U.S., with a 114% growth rate for sales in all foreign countries, driven primarily by Europe.

The number of active properties grew to 454 from 418 (8.6%), while sales per property increased 27.5%.

{IMAGE_2}The company didn't report the amount of sales it wrote off from the Toys 'R' Us bankruptcy, but did acknowledge $1.8 million of costs related to producing products for Toys 'R' Us for which no revenue was recognized.  Despite those costs, gross margin increased in the quarter, which helped improve profitability.

Net income swung to positive, to a $2.2 million profit in Q1 2018 from a $5.6 million loss in the year ago quarter. That's a turnaround from profits that declined in Q4 and Q3 2017.

Overall a positive report from Funko in its third quarter since going public.