TOON · Kartoon Studios, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $39.35M | $32.59M | $44.09M | $7.87M | $7.87M | $2.48M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $23.99M | $25.21M | $35.32M | $45.85M | $35.97M | $17.42M |
| Total Operating Expenses | $52.27M | $49.59M | $116.45M | $106.02M | $71.63M | $20.36M |
| D&A | $2.58M | $2.41M | $2.55M | $599.0K | $94.0K | $379.4K |
| Operating Income | ($12.92M) | ($17.00M) | ($72.37M) | ($43.72M) | ($63.75M) | ($17.88M) |
| Interest Expense | $656.0K | $779.0K | $3.13M | $2.33M | $1.18M | $1.18M |
| Income Tax | ($135.0K) | ($43.0K) | ($973.0K) | $105.0K | $0 | $0 |
| Net Income | ($24.53M) | ($20.74M) | ($77.10M) | ($45.59M) | ($126.37M) | ($401.67M) |
| EPS - Basic | ($0.49) | ($0.54) | ($2.29) | ($1.45) | ($28.20) | - |
| EPS - Diluted | ($0.49) | ($0.54) | ($2.29) | ($4.24) | - | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.94M | $8.38M | $4.09M | $7.43M | $2.06M | $100.46M |
| Accounts Receivable | $9.63M | $11.98M | $18.07M | $15.56M | $7.63M | $1.73M |
| Inventory | - | - | - | - | - | $0 |
| Accounts Payable | $12.12M | $11.95M | - | - | $7.19M | $785.5K |
| Current Assets | $35.77M | $34.66M | $57.11M | $139.53M | $136.19M | $108.57M |
| Total Assets | $70.91M | $85.47M | $111.44M | $237.92M | $174.08M | $134.20M |
| Current Liabilities | $33.45M | $33.44M | $45.64M | $110.91M | $21.13M | $7.18M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $43.37M | $49.01M | $58.17M | $125.05M | $29.43M | $15.00M |
| Stockholders' Equity | $26.21M | $34.97M | $51.57M | $111.08M | $142.73M | $119.20M |
| Retained Earnings | ($763.82M) | ($739.28M) | ($718.55M) | ($641.44M) | ($595.85M) | ($469.56M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($11.41M) | ($3.49M) | ($16.09M) | ($23.65M) | ($23.74M) | ($7.84M) |
| Investing Cash Flow | ($1.63M) | $10.01M | $73.86M | ($30.94M) | ($127.46M) | ($1.40M) |
| Financing Cash Flow | $8.15M | ($3.13M) | ($60.80M) | $52.17M | $60.82M | $109.40M |
| CapEx | $151.0K | $117.0K | $72.0K | $592.0K | $302.0K | $75.9K |
| Free Cash Flow | ($11.56M) | ($3.61M) | ($16.16M) | ($24.25M) | ($24.05M) | ($7.92M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | -32.8% | -52.1% | -164.2% | -555.3% | -809.8% | -720.4% |
| EBITDA margin | -26.3% | -44.8% | -158.4% | -547.7% | -808.6% | -705.2% |
| Net margin | -62.3% | -63.6% | -174.9% | -579.1% | -1605.1% | -16182.5% |
| Free cash flow margin | -29.4% | -11.1% | -36.7% | -308.0% | -305.4% | -319.1% |
| FCF / Net income | 0.47 | 0.17 | 0.21 | 0.53 | 0.19 | 0.02 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 61.0% | 77.4% | 80.1% | 582.4% | 456.8% | 701.9% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -34.6% | -24.3% | -69.2% | -19.2% | -72.6% | -299.3% |
| Return on equity | -93.6% | -59.3% | -149.5% | -41.0% | -88.5% | -337.0% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 1.07 | 1.04 | 1.25 | 1.26 | 6.44 | 15.12 |
| Quick ratio | 1.07 | 1.04 | 1.25 | 1.26 | 6.44 | 15.12 |
| Cash ratio | 0.09 | 0.25 | 0.09 | 0.07 | 0.10 | 13.99 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | -19.7x | -21.8x | -23.2x | -18.8x | -54.0x | -15.2x |
| Equity multiplier | 2.71 | 2.44 | 2.16 | 2.14 | 1.22 | 1.13 |
| Liabilities / Assets | 0.61 | 0.57 | 0.52 | 0.53 | 0.17 | 0.11 |
| Efficiency | ||||||
| Asset turnover | 0.55 | 0.38 | 0.40 | 0.03 | 0.05 | 0.02 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 89d | 134d | 150d | 721d | 354d | 255d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | 1.4x | 0.6x | 0.9x | 1.2x | - | - |
| P / S | 0.9x | 0.7x | 1.1x | 17.6x | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 20.7% | -26.1% | 460.0% | 0.0% | 217.2% | -58.0% |
| Revenue CAGR (3y) | 71.0% | 60.6% | 160.9% | 10.0% | 99.4% | -22.5% |
| Revenue CAGR (5y) | 73.8% | 40.7% | 113.5% | 8.1% | 55.5% | 22.3% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 24.0% | 76.5% | -65.5% | 31.4% | -256.5% | -174.8% |
| Net income growth (YoY) | -18.3% | 73.1% | -69.1% | 63.9% | 68.5% | -3398.5% |
| EPS growth (YoY) | 9.3% | 76.4% | 46.0% | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | -220.5% | 77.7% | 33.3% | -0.8% | -203.6% | -26.2% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | -25.1% | -32.2% | -53.6% | -22.2% | 19.7% | 1211.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$78.71M totalContent Production And Distribution$35.20M · 44.7%
Content Production Distribution$35.20M · 44.7%
Media Advisory And Advertising$4.15M · 5.3%
Media Advisory And Advertising Services$4.15M · 5.3%
Product / service
$39.35M totalProduction Services$26.83M · 68.2%
Content Distribution$7.98M · 20.3%
Media Advisory And Advertising Services$4.15M · 10.6%
License$387.0K · 1.0%
Geographic
$39.35M totalUS$18.12M · 46.0%
CA$13.21M · 33.6%
GB$7.89M · 20.0%
Other Countries$138.0K · 0.4%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-8.86
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
3/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Motion Picture & Video Tape Production
Comparing Kartoon Studios against the 5 most active filers in the same SIC group.