Kartoon Studios Inc Financials
This page shows Kartoon Studios Inc (TOON) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
Kartoon Studios is operating on a shrinking asset base while losses consume cash faster than accounting improvements suggest.
FY2025 looked better at the operating line, with operating margin improving to-32.8% from-52.2% in FY2024, but cash conversion deteriorated: operating cash outflow widened to-$11.4M from-$3.5M and cash ended at just$2.9M . That combination says the business became less loss-making on paper without becoming less dependent on external funding in practice.
Balance-sheet capacity has thinned materially over the last three fiscal years: total assets fell from
This is not a capex-heavy cash drain. FY2025 capital spending was only
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). 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 has an operating margin of -32.8%, meaning the company retains $-33 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -52.1% the prior year.
Kartoon Studios Inc's revenue surged 20.7% year-over-year to $39.4M, reflecting rapid business expansion. This strong growth earns a score of 24/100.
Kartoon Studios Inc carries a low D/E ratio of 1.65, meaning only $1.65 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 68/100, indicating a strong balance sheet with room for future borrowing.
Kartoon Studios Inc's current ratio of 1.07 is below the typical benchmark, resulting in a score of 16/100. This tight liquidity could limit financial flexibility if cash inflows slow.
While Kartoon Studios Inc generated -$11.4M in operating cash flow, capex of $151K consumed most of it, leaving -$11.6M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Kartoon Studios Inc generates a -93.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -59.3% the prior year.
Kartoon Studios Inc passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Kartoon Studios Inc generates $0.46 in operating cash flow (-$11.4M OCF vs -$24.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Kartoon Studios Inc earns $-19.7 in operating income for every $1 of interest expense (-$12.9M vs $656K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Kartoon Studios Inc generated $39.4M in revenue in fiscal year 2025. This represents an increase of 20.7% from the prior year.
Kartoon Studios Inc's EBITDA was -$10.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 29.2% from the prior year.
Kartoon Studios Inc reported -$24.5M in net income in fiscal year 2025. This represents a decrease of 18.3% from the prior year.
Kartoon Studios Inc earned $-0.49 per diluted share (EPS) in fiscal year 2025. This represents an increase of 9.3% from the prior year.
Cash & Balance Sheet
Kartoon Studios Inc generated -$11.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 220.5% from the prior year.
Kartoon Studios Inc held $2.9M in cash against $0 in long-term debt as of fiscal year 2025.
Kartoon Studios Inc had 55M shares outstanding in fiscal year 2025. This represents an increase of 18.7% from the prior year.
Margins & Returns
Kartoon Studios Inc's operating margin was -32.8% in fiscal year 2025, reflecting core business profitability. This is up 19.3 percentage points from the prior year.
Kartoon Studios Inc's net profit margin was -62.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.3 percentage points from the prior year.
Kartoon Studios Inc's ROE was -93.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 34.3 percentage points from the prior year.
Capital Allocation
Kartoon Studios Inc invested $151K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 29.1% from the prior year.
TOON Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.2M-25.3% | $9.7M-1.9% | $9.9M-3.9% | $10.3M+8.2% | $9.5M+0.9% | $9.4M+8.2% | $8.7M+3.9% | $8.4M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $5.1M-20.1% | $6.4M+13.8% | $5.6M-9.2% | $6.2M+8.8% | $5.7M+3.9% | $5.5M+5.8% | $5.2M-24.7% | $6.9M |
| Operating Income | -$2.8M+24.8% | -$3.7M-28.7% | -$2.9M+9.9% | -$3.2M-4.4% | -$3.1M+11.9% | -$3.5M-37.2% | -$2.5M+45.4% | -$4.7M |
| Interest Expense | $233K+13.1% | $206K+31.2% | $157K-4.8% | $165K+28.9% | $128K-16.9% | $154K-12.5% | $176K-28.5% | $246K |
| Income Tax | $0+100.0% | -$135K | $0 | $0 | $0+100.0% | -$43K | $0 | $0 |
| Net Income | -$6.4M-20.7% | -$5.3M+19.7% | -$6.6M-6.6% | -$6.2M+5.6% | -$6.5M-13.2% | -$5.8M-180.2% | -$2.1M+65.0% | -$5.9M |
| EPS (Diluted) | $-0.10 | N/A | $-0.14-7.7% | $-0.13+7.1% | $-0.14 | N/A | $-0.05+66.7% | $-0.15 |
TOON Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $63.6M-10.3% | $70.9M+6.3% | $66.7M-4.7% | $70.0M-2.4% | $71.7M-16.1% | $85.5M-2.1% | $87.3M-1.9% | $89.0M |
| Current Assets | $30.7M-14.1% | $35.8M+32.0% | $27.1M+6.4% | $25.5M+1.3% | $25.1M-27.5% | $34.7M-6.8% | $37.2M-4.2% | $38.8M |
| Cash & Equivalents | $5.0M+70.4% | $2.9M+105.8% | $1.4M-44.3% | $2.6M-7.4% | $2.8M-66.9% | $8.4M+83.0% | $4.6M+67.1% | $2.7M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $3.3M-65.7% | $9.6M+10.7% | $8.7M+23.5% | $7.0M-6.9% | $7.6M-36.9% | $12.0M+0.7% | $11.9M-6.1% | $12.7M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $41.0M-5.5% | $43.4M+1.6% | $42.7M+5.9% | $40.3M-3.2% | $41.6M-15.0% | $49.0M+10.1% | $44.5M-0.3% | $44.6M |
| Current Liabilities | $31.4M-6.1% | $33.5M+2.9% | $32.5M+7.1% | $30.4M+13.1% | $26.8M-19.8% | $33.4M-0.8% | $33.7M+0.3% | $33.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $21.3M-18.7% | $26.2M+15.8% | $22.6M-20.2% | $28.4M-1.0% | $28.6M-18.1% | $35.0M-15.2% | $41.2M-3.5% | $42.7M |
| Retained Earnings | -$770.2M-0.8% | -$763.8M-0.7% | -$758.5M-0.9% | -$752.0M-0.8% | -$745.8M-0.9% | -$739.3M-0.8% | -$733.5M-0.3% | -$731.5M |
TOON Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.9M-849.6% | $381K+106.9% | -$5.5M-23.0% | -$4.5M-145.2% | -$1.8M+22.9% | -$2.4M-254.7% | $1.5M+123.5% | -$6.5M |
| Capital Expenditures | $33K-5.7% | $35K-2.8% | $36K-40.0% | $60K+200.0% | $20K-57.4% | $47K+30.6% | $36K | $0 |
| Free Cash Flow | -$2.9M-935.0% | $346K+106.3% | -$5.5M-22.2% | -$4.5M-145.8% | -$1.8M+23.5% | -$2.4M-261.6% | $1.5M+122.9% | -$6.5M |
| Investing Cash Flow | $2.9M+173.7% | -$4.0M-478.0% | $1.1M-57.6% | $2.5M+309.7% | -$1.2M-156.2% | $2.1M-11.5% | $2.4M-19.4% | $3.0M |
| Financing Cash Flow | $1.8M-66.6% | $5.3M+72.1% | $3.1M+34.9% | $2.3M+189.4% | -$2.6M-177.5% | $3.3M+302.0% | -$1.6M-153.1% | $3.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
TOON Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -38.7%-0.3pp | -38.4%-9.1pp | -29.3%+2.0pp | -31.3%+1.1pp | -32.4%+4.7pp | -37.1%-7.8pp | -29.3%+26.3pp | -55.6% |
| Net Margin | -87.9%-33.5pp | -54.4%+12.1pp | -66.5%-6.6pp | -60.0%+8.7pp | -68.7%-7.5pp | -61.2%-37.6pp | -23.6%+46.4pp | -70.0% |
| Return on Equity | -29.9%-9.8pp | -20.1%+8.9pp | -29.0%-7.3pp | -21.7%+1.0pp | -22.8%-6.3pp | -16.5%-11.5pp | -5.0%+8.8pp | -13.7% |
| Return on Assets | -10.0%-2.6pp | -7.4%+2.4pp | -9.8%-1.1pp | -8.8%+0.3pp | -9.1%-2.4pp | -6.7%-4.4pp | -2.4%+4.2pp | -6.6% |
| Current Ratio | 0.98-0.1 | 1.07+0.2 | 0.830.0 | 0.84-0.1 | 0.94-0.1 | 1.04-0.1 | 1.10-0.1 | 1.16 |
| Debt-to-Equity | 1.92+0.3 | 1.65-0.2 | 1.89+0.5 | 1.42-0.0 | 1.45+0.1 | 1.40+0.3 | 1.08+0.0 | 1.04 |
| FCF Margin | -39.9%-43.5pp | 3.6%+59.6pp | -56.0%-12.0pp | -44.0%-24.7pp | -19.4%+6.2pp | -25.6%-42.7pp | 17.1%+94.6pp | -77.5% |
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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 -$24.5M in fiscal year 2025, with a net profit margin of -62.3%.
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 -62.3% 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 -93.6% 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) generated -$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) generated -$11.4M in operating cash flow during fiscal year 2025, representing cash generated from 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 -34.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Kartoon Studios Inc's cash runway?
Based on fiscal year 2025 data, Kartoon Studios Inc (TOON) had $2.9M in cash against an annual operating cash burn of $11.4M. This gives an estimated cash runway of approximately 3 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Kartoon Studios Inc's Piotroski F-Score?
Kartoon Studios Inc (TOON) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. 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) has an earnings quality ratio of 0.46x, considered low quality (accrual-driven). 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) has an interest coverage ratio of -19.7x, meaning it can struggle to cover its interest obligations. 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 18 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.