Kartoon Studios(US:TOON)2026-03-31 12:55Revenue Growth - Total revenue increased 21% year-over-year to $39.4 million in 2025, up from $32.6 million in 2024[10] - Production services revenue surged 50% year-over-year to $26.8 million, driven by strong demand from major global entertainment partners[12] Operating Performance - Operating loss improved by 24% year-over-year, reflecting continued cost discipline and overhead reduction[10] Audience Engagement - Kartoon Channel achieved an 85% year-over-year increase in watch time, with record subscriber levels and strong engagement growth[4] - Engagement on the Ameba platform increased by 206% year-over-year, contributing to record subscriber levels[16] - FAST channel watch time increased 70% year-over-year in Q4 2025, showcasing the effectiveness of the company's distribution strategy[16] Future Outlook - Over 60% of projected 2026 production revenue is already under contract, indicating strong production visibility[12] - The launch of the Hundred Acre Woods franchise and the Stan Lee Universe is scheduled for Q4 2026, expanding the company's intellectual property portfolio[11] - The company is transitioning to high-margin franchise monetization, positioning itself for resilient growth in a rising cost environment[7] - The majority of infrastructure and franchise investments are now complete, setting the stage for scalable growth and long-term shareholder value[33]