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Side-by-side financial comparison of Mega Matrix Inc (MPU) and Kartoon Studios, Inc. (TOON). Click either name above to swap in a different company.
Kartoon Studios, Inc. is the larger business by last-quarter revenue ($9.7M vs $6.1M, roughly 1.6× Mega Matrix Inc). Kartoon Studios, Inc. runs the higher net margin — -54.4% vs -177.4%, a 123.0% gap on every dollar of revenue. On growth, Kartoon Studios, Inc. posted the faster year-over-year revenue change (2.9% vs -40.9%).
Kartoon Studios, Inc. is an entertainment company headed by Andy Heyward. The company was formed in 2010 as Genius Brands International (GBI) from the merger of Genius Brands International and A Squared Entertainment.
MPU vs TOON — Head-to-Head
Income Statement — Q3 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $6.1M | $9.7M |
| Net Profit | $-10.8M | $-5.3M |
| Gross Margin | 47.7% | — |
| Operating Margin | -156.3% | -38.4% |
| Net Margin | -177.4% | -54.4% |
| Revenue YoY | -40.9% | 2.9% |
| Net Profit YoY | -291.1% | 8.5% |
| EPS (diluted) | $-0.21 | $-0.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $9.7M | ||
| Q3 25 | $6.1M | $9.9M | ||
| Q2 25 | $7.1M | $10.3M | ||
| Q1 25 | $7.7M | $9.5M | ||
| Q4 24 | — | $9.4M | ||
| Q3 24 | $10.3M | $8.7M | ||
| Q2 24 | — | $8.4M | ||
| Q1 24 | — | $6.1M |
| Q4 25 | — | $-5.3M | ||
| Q3 25 | $-10.8M | $-6.6M | ||
| Q2 25 | $-1.5M | $-6.2M | ||
| Q1 25 | $-2.5M | $-6.5M | ||
| Q4 24 | — | $-5.8M | ||
| Q3 24 | $-2.8M | $-2.1M | ||
| Q2 24 | — | $-5.9M | ||
| Q1 24 | — | $-7.0M |
| Q4 25 | — | — | ||
| Q3 25 | 47.7% | — | ||
| Q2 25 | 58.5% | — | ||
| Q1 25 | 55.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 58.5% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -38.4% | ||
| Q3 25 | -156.3% | -29.3% | ||
| Q2 25 | -21.6% | -31.3% | ||
| Q1 25 | -32.8% | -32.4% | ||
| Q4 24 | — | -37.1% | ||
| Q3 24 | -26.0% | -29.2% | ||
| Q2 24 | — | -55.6% | ||
| Q1 24 | — | -103.6% |
| Q4 25 | — | -54.4% | ||
| Q3 25 | -177.4% | -66.5% | ||
| Q2 25 | -20.7% | -60.0% | ||
| Q1 25 | -32.0% | -68.7% | ||
| Q4 24 | — | -61.2% | ||
| Q3 24 | -26.8% | -23.6% | ||
| Q2 24 | — | -70.1% | ||
| Q1 24 | — | -115.9% |
| Q4 25 | — | $-0.08 | ||
| Q3 25 | $-0.21 | $-0.14 | ||
| Q2 25 | $-0.04 | $-0.13 | ||
| Q1 25 | $-0.07 | $-0.14 | ||
| Q4 24 | — | $-0.14 | ||
| Q3 24 | $-0.08 | $-0.05 | ||
| Q2 24 | — | $-0.15 | ||
| Q1 24 | — | $-0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $9.8M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $37.4M | $26.2M |
| Total Assets | $42.7M | $70.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $9.8M | — | ||
| Q2 25 | $4.0M | — | ||
| Q1 25 | $6.8M | — | ||
| Q4 24 | — | $100.0K | ||
| Q3 24 | $9.9M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $26.2M | ||
| Q3 25 | $37.4M | $22.6M | ||
| Q2 25 | $10.9M | $28.4M | ||
| Q1 25 | $11.9M | $28.6M | ||
| Q4 24 | — | $35.0M | ||
| Q3 24 | $15.8M | $41.2M | ||
| Q2 24 | — | $42.7M | ||
| Q1 24 | — | $44.8M |
| Q4 25 | — | $70.9M | ||
| Q3 25 | $42.7M | $66.7M | ||
| Q2 25 | $16.6M | $70.0M | ||
| Q1 25 | $17.3M | $71.7M | ||
| Q4 24 | — | $85.5M | ||
| Q3 24 | $22.4M | $87.3M | ||
| Q2 24 | — | $89.0M | ||
| Q1 24 | — | $93.3M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-3.5M | $381.0K |
| Free Cash FlowOCF − Capex | — | $346.0K |
| FCF MarginFCF / Revenue | — | 3.6% |
| Capex IntensityCapex / Revenue | — | 0.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-11.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $381.0K | ||
| Q3 25 | $-3.5M | $-5.5M | ||
| Q2 25 | $-1.8M | $-4.5M | ||
| Q1 25 | $-2.2M | $-1.8M | ||
| Q4 24 | — | $-2.4M | ||
| Q3 24 | — | $1.5M | ||
| Q2 24 | — | $-6.5M | ||
| Q1 24 | — | $3.8M |
| Q4 25 | — | $346.0K | ||
| Q3 25 | — | $-5.5M | ||
| Q2 25 | — | $-4.5M | ||
| Q1 25 | — | $-1.8M | ||
| Q4 24 | — | $-2.4M | ||
| Q3 24 | — | $1.5M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $3.8M |
| Q4 25 | — | 3.6% | ||
| Q3 25 | — | -56.0% | ||
| Q2 25 | — | -44.1% | ||
| Q1 25 | — | -19.4% | ||
| Q4 24 | — | -25.6% | ||
| Q3 24 | — | 17.1% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 62.7% |
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.6% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MPU
Segment breakdown not available.
TOON
| Other | $4.6M | 48% |
| CA | $2.8M | 29% |
| Content Distribution | $2.2M | 23% |
