Kartoon Studios Q1 revenue $6.1M, targets profitability Q2 2025, streaming unit profitable

Kartoon Studios, Inc.

2024-Q1 EPS reported -$0.20 revenue$6,078,000

Q1 revenue $6.1M; no long-term debt; working capital $6.1M; stockholders' equity $46.5M.
Direct operating costs down >60% YoY; G&A down 18% YoY; operating loss reduces to lowest since Q3 2022.
Kartoon Channel! streaming achieved profitability in Q1 2024; 4.9-star Apple rating, ahead of Disney+.
Greenlit projects expected to generate >$40M revenue; new AI initiative using Nvidia Omniverse launched.
Stan Lee Universe expands: Amazon store, VeVe collectibles partnership, YouTube channel hits 300K subscribers.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Kartoon Studios, Inc. updated its first quarter ended March 31, 2024 guidance (reaffirmed).

Period: first quarter ended March 31, 2024
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On May 15, 2024, Kartoon Studios, Inc. (the “Company”) issued an earnings release announcing, among other things, the Company’s operational highlights for the first quarter ended March 31, 2024.

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Kartoon Studios, Inc. filing history →

Source: SEC EDGAR

accession 0001355848-24-000072

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