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 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.24M | - | $9.88M | $10.28M | $9.50M | - | $8.71M | $8.38M | $6.08M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $5.13M | - | $5.64M | $6.21M | $5.71M | - | $5.20M | $6.91M | $7.60M | - |
| Total Operating Expenses | $10.04M | - | $12.77M | $13.49M | $12.58M | - | $11.26M | $13.04M | $12.37M | - |
| D&A | $677.0K | - | $731.0K | $728.0K | $650.0K | - | $100.0K | $100.0K | $610.0K | - |
| Operating Income | ($2.80M) | - | ($2.90M) | ($3.21M) | ($3.08M) | - | ($2.55M) | ($4.66M) | ($6.29M) | - |
| Interest Expense | $233.0K | - | $157.0K | $165.0K | $128.0K | - | $176.0K | $246.0K | $203.0K | - |
| Income Tax | $0 | - | $0 | $0 | $0 | - | $0 | $0 | $0 | - |
| Net Income | ($6.37M) | - | ($6.57M) | ($6.16M) | ($6.53M) | - | ($2.06M) | ($5.87M) | ($7.04M) | - |
| EPS - Basic | ($0.10) | - | ($0.14) | ($0.13) | ($0.14) | - | ($0.05) | ($0.15) | ($0.20) | - |
| EPS - Diluted | ($0.10) | - | ($0.14) | ($0.13) | ($0.14) | - | ($0.05) | ($0.15) | ($0.20) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $5.02M | $2.94M | $1.43M | $2.57M | $2.77M | $8.38M | $4.58M | $2.74M | $2.76M | $4.09M |
| Accounts Receivable | $3.30M | $9.63M | $8.70M | $7.04M | $7.56M | $11.98M | $11.89M | $12.66M | $13.39M | $18.07M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $7.14M | $12.12M | $8.25M | $6.77M | $5.96M | $11.95M | $16.86M | - | - | - |
| Current Assets | $30.74M | $35.77M | $27.09M | $25.46M | $25.13M | $34.66M | $37.18M | $38.82M | $41.01M | $57.11M |
| Total Assets | $63.57M | $70.91M | $66.72M | $70.00M | $71.70M | $85.47M | $87.30M | $89.00M | $93.33M | $111.44M |
| Current Liabilities | $31.40M | $33.45M | $32.51M | $30.36M | $26.84M | $33.44M | $33.70M | $33.59M | $34.88M | $45.64M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $40.98M | $43.37M | $42.71M | $40.33M | $41.64M | $49.01M | $44.50M | $44.65M | $46.86M | $58.17M |
| Stockholders' Equity | $21.30M | $26.21M | $22.64M | $28.36M | $28.63M | $34.97M | $41.24M | $42.74M | $44.80M | $51.57M |
| Retained Earnings | ($770.18M) | ($763.82M) | ($758.54M) | ($751.98M) | ($745.81M) | ($739.28M) | ($733.52M) | ($731.46M) | ($725.59M) | ($718.55M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($2.86M) | - | - | - | ($1.82M) | - | - | - | $3.85M | - |
| Investing Cash Flow | $2.94M | - | - | - | ($1.19M) | - | - | - | $2.56M | - |
| Financing Cash Flow | $1.78M | - | - | - | ($2.57M) | - | - | - | ($7.89M) | - |
| CapEx | $33.0K | - | - | - | $20.0K | - | - | - | $34.0K | - |
| Free Cash Flow | ($2.89M) | - | - | - | ($1.84M) | - | - | - | $3.81M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -38.7% | - | -29.3% | -31.3% | -32.4% | - | -29.2% | -55.6% | -103.6% | - |
| EBITDA margin | -29.4% | - | -21.9% | -24.2% | -25.6% | - | -28.1% | -54.4% | -93.5% | - |
| Net margin | -87.9% | - | -66.5% | -60.0% | -68.7% | - | -23.6% | -70.1% | -115.9% | - |
| Free cash flow margin | -39.9% | - | - | - | -19.4% | - | - | - | 62.7% | - |
| FCF / Net income | 0.45 | - | - | - | 0.28 | - | - | - | -0.54 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 70.9% | - | 57.1% | 60.5% | 60.1% | - | 59.7% | 82.4% | 125.1% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -10.0% | - | -9.8% | -8.8% | -9.1% | - | -2.4% | -6.6% | -7.5% | - |
| Return on equity | -29.9% | - | -29.0% | -21.7% | -22.8% | - | -5.0% | -13.7% | -15.7% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.98 | 1.07 | 0.83 | 0.84 | 0.94 | 1.04 | 1.10 | 1.16 | 1.18 | 1.25 |
| Quick ratio | 0.98 | 1.07 | 0.83 | 0.84 | 0.94 | 1.04 | 1.10 | 1.16 | 1.18 | 1.25 |
| Cash ratio | 0.16 | 0.09 | 0.04 | 0.08 | 0.10 | 0.25 | 0.14 | 0.08 | 0.08 | 0.09 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -12.0x | - | -18.4x | -19.5x | -24.1x | - | -14.5x | -18.9x | -31.0x | - |
| Equity multiplier | 2.98 | 2.71 | 2.95 | 2.47 | 2.50 | 2.44 | 2.12 | 2.08 | 2.08 | 2.16 |
| Liabilities / Assets | 0.64 | 0.61 | 0.64 | 0.58 | 0.58 | 0.57 | 0.51 | 0.50 | 0.50 | 0.52 |
| Efficiency | ||||||||||
| Asset turnover | 0.11 | - | 0.15 | 0.15 | 0.13 | - | 0.10 | 0.09 | 0.07 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 167d | - | 321d | 250d | 290d | - | 499d | 551d | 804d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 1.8x | - | 1.6x | 1.3x | 1.0x | - | 0.8x | 0.9x | 1.1x | - |
| P / S | 5.4x | - | 3.6x | 3.5x | 3.1x | - | 3.9x | 4.7x | 8.0x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -23.8% | - | 13.4% | 22.6% | 56.4% | - | -55.7% | -62.1% | -57.2% | - |
| Revenue CAGR (3y) | -20.1% | - | -20.5% | -22.5% | 87.5% | - | 66.9% | 53.0% | 78.7% | - |
| Revenue CAGR (5y) | 46.7% | - | 104.8% | 78.9% | 95.3% | - | 20.2% | 78.4% | 37.9% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 9.0% | - | -13.7% | 31.0% | 51.1% | - | 79.8% | 45.6% | 71.4% | - |
| Net income growth (YoY) | 2.5% | - | -219.4% | -4.9% | 7.4% | - | 86.7% | 61.4% | 71.5% | - |
| EPS growth (YoY) | 28.6% | - | -180.0% | 13.3% | 30.0% | - | 88.6% | 68.1% | 74.0% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -56.8% | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -25.6% | -25.1% | -45.1% | -33.7% | -36.1% | -32.2% | -43.0% | -50.2% | -50.0% | -53.6% |
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%
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.