Kartoon Studios Q4 revenue $8.8M; costs slashed 70% YoY; $3.5M annual savings identified

Kartoon Studios, Inc.

Q4 2023 revenue $8.8M; full year $44.1M; current assets $57.1M, working capital $11.5M.
Direct operating costs reduced >70% YoY and 54% sequentially in Q4 2023.
Additional $3.5M in annualized cost savings identified, to be implemented in 2024.
Kartoon Channel! paid subscriber base grew 19% in 2023; streaming arm achieved break-even operating income.
Mainframe Studios pipeline projects projected to generate >$40M in revenue; Beacon Media Q4 revenue up 16% YoY.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Kartoon Studios, Inc. reported financial results for the fourth quarter and year ended December 31, 2023.

Period: the fourth quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

On April 9, 2024, Kartoon Studios, Inc. (the “Company”) issued an earnings release announcing, among other things, the Company’s operational highlights for the fourth quarter and year ended December 31, 2023.

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Kartoon Studios, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-24-002238

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