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How Kartoon Studios (TOON) makes money

Kartoon Studios (TOON) made $5.8M of revenue in the second quarter 2026 (Q2 2026), -43% from a year earlier. Production Services brought in $3.5M (59%); Content Distribution brought in $1.9M (32%); Media Advisory and Advertising Services brought in $448K (8%).

Drawing the Sankey…

Kartoon Studios revenue by segment, Q2 2026Kartoon Studios revenue by segment, Q2 2026Production Services$3.5MContent Distribution$1.9MMedia Advisory and Advertising Se…$448KLicensing and Royalties$61K
Kartoon Studios: revenue by line, Q4 2024 to Q2 2026Kartoon Studios: revenue by line, Q4 2024 to Q2 2026Production ServicesContent DistributionMedia Advisory and Ad…LicenseLicensing and Royalti…Production Services: $3.5M latest$3.5MContent Distribution: $1.9M latest$1.9MMedia Advisory and Advertising Services: $448K latestLicense: $0 latestLicensing and Royalties: $61K latestQ4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026
Media Advisory and Advertising Services went from 18% of revenue in Q4 2024 to 8% in Q2 2026, the largest shift in the mix.
Kartoon Studios revenue by quarterKartoon Studios revenue by quarter$9.4MQ4 2024$9.5MQ1 2025$10.3MQ2 2025$9.9MQ3 2025$9.7MQ4 2025$7.2MQ1 2026$5.8MQ2 2026
Kartoon Studios: where each dollar of revenue goesKartoon Studios: where each dollar of revenue goesIncome tax10¢Operating cash flow589¢Free cash flow588¢

Revenue by segment, Q2 2026

SegmentRevenueShareQ/QY/Y
Production Services$3.5M59.4%—-53%
Content Distribution$1.9M31.8%—-7%
Media Advisory and Advertising Services$448K7.7%—-47%
Licensing and Royalties$61K1.0%—-29%

Where each dollar of revenue goes

LineQ2 2026% of revenue
Revenue$5.8M100.0%
Income tax$573K9.8%
Operating cash flow$34.3M589.0%
Free cash flow$34.2M588.3%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q2 2026$5.8M-43%
Q1 2026$7.2M-24%
Q4 2025$9.7M+3%
Q3 2025$9.9M+13%
Q2 2025$10.3M+23%
Q1 2025$9.5M+56%
Q4 2024$9.4M+7%

From Kartoon Studios' 10-Q filed Aug 14, 2026 (on EDGAR).

Questions

How does Kartoon Studios make money?

Kartoon Studios (TOON) made $5.8M of revenue in the second quarter 2026 (Q2 2026), -43% from a year earlier. Production Services brought in $3.5M (59%); Content Distribution brought in $1.9M (32%); Media Advisory and Advertising Services brought in $448K (8%).

What is Kartoon Studios' biggest business?

Production Services: $3.5M in the second quarter 2026, 59% of revenue, -53% from a year earlier.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.