Kartoon Studios, Inc. (TOON) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TOON SEC filings page.
Kartoon Studios, Inc. (TOON) reported $32.6M in revenue over the twelve months to Jun 30, 2026, down 13.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue recovered, but cash needs worsened and financing remained part of the operating model.
The 2025 revenue recovery lifted operating margin from-52.2% to-32.8% , suggesting better cost absorption rather than a profitable model. Yet operating cash outflow widened from$3.5M to$11.4M , so reported accounting improvement did not translate into better cash conversion.
The balance sheet offers limited short-term flexibility: the current ratio was only 1.1x, while debt-to-equity reached 1.7x. Liabilities of
Capital spending was just
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Kartoon Studios, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Kartoon Studios, Inc. held $2.9M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $11.4M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Kartoon Studios, Inc. scores 13/100 among other emerging companies.
Kartoon Studios, Inc. had 56M shares outstanding at the end of fiscal year 2025, against 48M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Kartoon Studios, Inc. scores 29/100 among other emerging companies.
Not available for Kartoon Studios, Inc., and counted as zero in the overall score.
Kartoon Studios, Inc. reported revenue of $39.4M in fiscal year 2025, against $32.6M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Kartoon Studios, Inc. scores 37/100 among other emerging companies.
Kartoon Studios, Inc.'s operations used $11.4M of cash in fiscal year 2025, against $3.5M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Kartoon Studios, Inc. scores 61/100 among other emerging companies.
Kartoon Studios, Inc.'s cash, cash equivalents and investments came to $2.9M at the end of fiscal year 2025, against $43.4M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Kartoon Studios, Inc. scores 13/100 among other emerging companies.
Kartoon Studios, Inc. scores -14.62, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($33.9M) relative to total liabilities ($43.4M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Kartoon Studios, Inc. passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). No profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
Kartoon Studios, Inc. reported a net loss of $25K while operations used $11.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Kartoon Studios, Inc. reported an operating loss of $12.9M against $656K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Kartoon Studios, Inc. generated $5.8M in revenue in Q2 2026. This represents a decrease of 43.4% from the same quarter a year earlier. Against the prior quarter it is down 19.6%.
Kartoon Studios, Inc.'s EBITDA was -$3.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 3.0% from the same quarter a year earlier. Against the prior quarter it is down 51.0%.
Kartoon Studios, Inc. reported $27.0M in net income in Q2 2026. This represents an increase of 537.9% from the same quarter a year earlier. Against the prior quarter it is up 524.0%.
Kartoon Studios, Inc. earned $0.38 per diluted share (EPS) in Q2 2026. This represents an increase of 392.3% from the same quarter a year earlier. Against the prior quarter it is up 480.0%.
Cash & Balance Sheet
Kartoon Studios, Inc. generated $34.2M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 856.3% from the same quarter a year earlier. Against the prior quarter it is up 1285.4%.
Kartoon Studios, Inc. held $7.7M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Kartoon Studios, Inc.'s operating margin was -58.6% in Q2 2026, reflecting core business profitability. This is down 27.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 19.9 percentage points.
Kartoon Studios, Inc.'s ROE was 51.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 73.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 81.4 percentage points.
Not reported for Q2 2026.
Not shown for Q2 2026: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Kartoon Studios, Inc. invested $42K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 30.0% from the same quarter a year earlier. Against the prior quarter it is up 27.3%.
Not reported for Q2 2026.
Not reported for Q2 2026.
TOON Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.8M-43.4% | $7.2M-23.8% | $9.7M+2.9% | $9.9M+13.4% | $10.3M+22.6% | $9.5M+56.4% | $9.4M+7.2% | $8.7M-13.5% |
| SG&A Expenses | $4.5M-28.3% | $5.1M-10.2% | $6.4M+16.8% | $5.6M+8.5% | $6.2M-10.0% | $5.7M-24.9% | $5.5M-39.2% | $5.2M-40.1% |
| Operating Income | -$3.4M-6.1% | -$2.8M+9.0% | -$3.7M-6.6% | -$2.9M-13.7% | -$3.2M+31.0% | -$3.1M+51.1% | -$3.5M+88.0% | -$2.5M+79.8% |
| EBITDA | -$3.2M-3.0% | -$2.1M+12.5% | -$3.2M+33.2% | -$1.6M-50.8% | -$3.1M-2.3% | -$2.4M+57.3% | -$4.8M+83.7% | -$1.0M+91.0% |
| Interest Expense | $175K+6.1% | $233K+82.0% | $206K+33.8% | $157K-10.8% | $165K-32.9% | $128K-36.9% | $154K-55.9% | $176K-73.8% |
| Income Tax | $573K | $0 | -$135K-214.0% | $0 | $0 | $0 | -$43K-10.3% | $0 |
| Net Income | $27.0M+537.9% | -$6.4M+2.5% | $19.2M+28.6% | -$6.6M-219.4% | -$6.2M-4.9% | -$6.5M+7.4% | $15.0M-71.0% | -$2.1M+86.7% |
| EPS (Basic) | $0.41+415.4% | -$0.10+28.6% | -$0.08+42.9% | -$0.14-180.0% | -$0.13+13.3% | -$0.14+30.0% | -$0.14+80.8% | -$0.05+88.6% |
| EPS (Diluted) | $0.38+392.3% | -$0.10+28.6% | -$0.08+42.9% | -$0.14-180.0% | -$0.13+13.3% | -$0.14+30.0% | -$0.14+80.8% | -$0.05+88.6% |
| Diluted Shares (Avg) | 71M+48.5% | 63M+34.4% | N/A | 48M+21.9% | 48M+24.5% | 47M+32.3% | N/A | 39M+12.6% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
TOON Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $94.5M+35.0% | $63.6M-11.3% | $70.9M-17.0% | $66.7M-23.6% | $70.0M-21.3% | $71.7M-23.2% | $85.5M-23.3% | $87.3M-36.7% |
| Current Assets | $63.0M+147.6% | $30.7M+22.3% | $35.8M+3.2% | $27.1M-27.1% | $25.5M-34.4% | $25.1M-38.7% | $34.7M-37.7% | $37.2M-39.5% |
| Cash & Equivalents | $7.7M+201.5% | $5.0M+81.0% | $2.9M-64.9% | $1.4M-68.8% | $2.6M-6.3% | $2.8M+0.3% | $8.4M+104.8% | $4.6M+17.9% |
| Short-Term Investments | $0-100.0% | $0-100.0% | $0-100.0% | $0-100.0% | $687K-89.4% | $3.2M-65.6% | $100K-99.2% | $4.1M-74.7% |
| Accounts Receivable | $2.1M-70.8% | $3.3M-56.3% | $9.6M-19.6% | $8.7M-26.9% | $7.0M-44.4% | $7.6M-43.5% | $12.0M-33.7% | $11.9M-0.9% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $40.9M+1.4% | $41.0M-1.6% | $43.4M-11.5% | $42.7M-4.0% | $40.3M-9.7% | $41.6M-11.1% | $49.0M-15.8% | $44.5M-30.0% |
| Current Liabilities | $31.6M+4.1% | $31.4M+17.0% | $33.5M0.0% | $32.5M-3.5% | $30.4M-9.6% | $26.8M-23.1% | $33.4M-26.7% | $33.7M-32.1% |
| Non-Current Liabilities | $9.3M-6.6% | $9.6M-35.3% | $9.9M-36.3% | $10.2M-5.6% | $10.0M-9.8% | $14.8M+23.7% | $15.6M+24.2% | $10.8M-22.9% |
| Total Equity | $52.4M+84.7% | $21.3M-25.6% | $26.2M-25.1% | $22.6M-45.1% | $28.4M-33.7% | $28.6M-36.1% | $35.0M-32.2% | $41.2M-43.0% |
| Retained Earnings | -$743.2M+1.2% | -$770.2M-3.3% | -$763.8M-3.3% | -$758.5M-3.4% | -$752.0M-2.8% | -$745.8M-2.8% | -$739.3M-2.9% | -$733.5M-5.8% |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
TOON Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $34.3M+867.4% | -$2.9M-56.8% | $381K+116.1% | -$5.5M-460.0% | -$4.5M+31.3% | -$1.8M-147.4% | -$2.4M-157.9% | $1.5M+115.9% |
| Depreciation & Amortization | $200K+100.0% | $677K+4.2% | $657K+6.5% | $1.3M-11.8% | $100K-93.8% | $650K+6.6% | $617K+1.8% | $1.5M+37.2% |
| Stock-Based Compensation | -$193K-302.1% | $191K+119.5% | N/A | $42K-72.9% | -$48K-129.3% | $87K-61.5% | N/A | $155K |
| Capital Expenditures | $42K-30.0% | $33K+65.0% | $35K-25.5% | $36K0.0% | $60K | $20K-41.2% | $47K+1075.0% | $36K+20.0% |
| Free Cash Flow | $34.2M+856.3% | -$2.9M-56.8% | $346K+114.4% | -$5.5M-471.1% | -$4.5M+30.3% | -$1.8M-148.3% | -$2.4M-159.2% | $1.5M+115.5% |
| Investing Cash Flow | -$31.8M-1377.2% | $2.9M+347.8% | -$4.0M-289.0% | $1.1M-55.7% | $2.5M-15.9% | -$1.2M-146.3% | $2.1M-52.5% | $2.4M-92.9% |
| Financing Cash Flow | -$109K-104.8% | $1.8M+169.4% | $5.3M+60.8% | $3.1M+288.7% | $2.3M-25.7% | -$2.6M+67.5% | $3.3M+141.6% | -$1.6M+93.4% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TOON Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -58.6%-27.3pp | -38.7%-6.3pp | -38.4%-1.4pp | -29.3%-0.1pp | -31.3%+24.3pp | -32.4% | -37.1% | -29.3% |
| Net Margin | 463.6% | -87.9%-19.3pp | 198.4% | -66.5%-42.9pp | -60.0%+10.1pp | -68.7% | 158.7% | -23.6% |
| Return on Equity | 51.5%+73.3pp | -29.9%-7.1pp | 73.4%+30.6pp | -29.0%-24.0pp | -21.7%-8.0pp | -22.8%-7.1pp | 42.8%-57.4pp | -5.0%+16.4pp |
| Return on Assets | 28.5%+37.3pp | -10.0%-0.9pp | 27.1%+9.6pp | -9.8%-7.5pp | -8.8%-2.2pp | -9.1%-1.6pp | 17.5%-28.9pp | -2.4%+8.9pp |
| Current Ratio | 2.00+1.2x | 0.980.0x | 1.070.0x | 0.83-0.3x | 0.84-0.3x | 0.94-0.2x | 1.04-0.2x | 1.10-0.1x |
| Debt-to-Equity | 0.78-0.6x | 1.92+0.5x | 1.65+0.3x | 1.89+0.8x | 1.42+0.4x | 1.45+0.4x | 1.40+0.3x | 1.08+0.2x |
| Asset Turnover | 0.06-0.1x | 0.110.0x | 0.140.0x | 0.150.0x | 0.15+0.1x | 0.13+0.1x | 0.110.0x | 0.100.0x |
| FCF Margin | 588.3% | -39.9%-20.5pp | 3.6%+29.1pp | -56.0%-73.1pp | -44.0%+33.5pp | -19.4%-82.1pp | -25.6%-71.9pp | 17.1%+112.5pp |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Kartoon Studios, Inc. TOON | FY2025 | $39.4M | -$25K | -0.1% | $33.9M | 26/100 |
| Allied Gaming & Entertainment Inc. AGAE | FY2025 | $8.0M | -$32.8M | N/A | $22.8M | 27/100 |
| Anghami Inc. ANGH | FY2025 | $99.3M | -$89.6M | -90.2% | $31.9M | 35/100 |
| Brera Holdings PLC BREA | FY2023 | $1.1M | N/A | N/A | $60.9M | — |
| LiveOne, Inc. LVO | FY2026 | $77.1M | -$21.3M | -27.6% | $36.7M | 28/100 |
Where Kartoon Studios, Inc. Ranks
Frequently Asked Questions
What is Kartoon Studios, Inc.'s annual revenue?
Kartoon Studios, Inc. (TOON) reported $39.4M in total revenue for fiscal year 2025. This represents a 20.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Kartoon Studios, Inc.'s revenue growing?
Kartoon Studios, Inc. (TOON) revenue grew by 20.7% year-over-year, from $32.6M to $39.4M in fiscal year 2025.
Is Kartoon Studios, Inc. profitable?
No, Kartoon Studios, Inc. (TOON) reported a net income of -$25K in fiscal year 2025, with a net profit margin of -0.1%.
What is Kartoon Studios, Inc.'s EBITDA?
Kartoon Studios, Inc. (TOON) had EBITDA of -$10.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Kartoon Studios, Inc.'s operating margin?
Kartoon Studios, Inc. (TOON) had an operating margin of -32.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Kartoon Studios, Inc.'s net profit margin?
Kartoon Studios, Inc. (TOON) had a net profit margin of -0.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Kartoon Studios, Inc.'s return on equity (ROE)?
Kartoon Studios, Inc. (TOON) has a return on equity of -0.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Kartoon Studios, Inc.'s free cash flow?
Kartoon Studios, Inc. (TOON) recorded an outflow of $11.6M in free cash flow during fiscal year 2025. This represents a -220.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Kartoon Studios, Inc.'s operating cash flow?
Kartoon Studios, Inc. (TOON) recorded an outflow of $11.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Kartoon Studios, Inc.'s total assets?
Kartoon Studios, Inc. (TOON) had $70.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Kartoon Studios, Inc.'s capital expenditures?
Kartoon Studios, Inc. (TOON) invested $151K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Kartoon Studios, Inc.'s current ratio?
Kartoon Studios, Inc. (TOON) had a current ratio of 1.07 as of fiscal year 2025, which is considered adequate.
What is Kartoon Studios, Inc.'s debt-to-equity ratio?
Kartoon Studios, Inc. (TOON) had a debt-to-equity ratio of 1.65 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Kartoon Studios, Inc.'s return on assets (ROA)?
Kartoon Studios, Inc. (TOON) had a return on assets of 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Kartoon Studios, Inc.'s P/E ratio?
Kartoon Studios, Inc. (TOON) trades at 1.0x earnings, its market capitalization divided by net income of $33.3M net income, trailing 12 months to June 30, 2026. The market capitalization is $33.9M as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Kartoon Studios, Inc.'s price-to-sales ratio?
Kartoon Studios, Inc. (TOON) trades at 1.0x sales, its market capitalization divided by revenue of $32.6M revenue, trailing 12 months to June 30, 2026. The market capitalization is $33.9M as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Kartoon Studios, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Kartoon Studios, Inc. (TOON) held $2.9M in cash, cash equivalents and investments, and reported an operating cash outflow of $11.4M over that year. Dividing the one by the other, the reported balance equals about 3 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Kartoon Studios, Inc.'s Altman Z-Score?
Kartoon Studios, Inc. (TOON) has an Altman Z-Score of -14.62, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Kartoon Studios, Inc.'s Piotroski F-Score?
Kartoon Studios, Inc. (TOON) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Kartoon Studios, Inc.'s earnings high quality?
Kartoon Studios, Inc. (TOON) reported a net loss of $25K while operations used $11.4M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Kartoon Studios, Inc. cover its interest payments?
Kartoon Studios, Inc. (TOON) reported an operating loss of $12.9M against $656K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Kartoon Studios, Inc.?
Kartoon Studios, Inc. (TOON) scores 26 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.