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Side-by-side financial comparison of Soluna Holdings, Inc (SLNH) 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 $8.4M, roughly 1.2× Soluna Holdings, Inc). Kartoon Studios, Inc. runs the higher net margin — -54.4% vs -284.7%, a 230.3% gap on every dollar of revenue. On growth, Soluna Holdings, Inc posted the faster year-over-year revenue change (11.8% vs 2.9%). Kartoon Studios, Inc. produced more free cash flow last quarter ($346.0K vs $-6.8M). Over the past eight quarters, Kartoon Studios, Inc.'s revenue compounded faster (26.3% CAGR vs -8.8%).
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.
SLNH vs TOON — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.4M | $9.7M |
| Net Profit | $-24.0M | $-5.3M |
| Gross Margin | 9.5% | — |
| Operating Margin | -92.5% | -38.4% |
| Net Margin | -284.7% | -54.4% |
| Revenue YoY | 11.8% | 2.9% |
| Net Profit YoY | -233.2% | 8.5% |
| EPS (diluted) | $-1.14 | $-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 | $8.4M | $9.9M | ||
| Q2 25 | $6.2M | $10.3M | ||
| Q1 25 | $5.9M | $9.5M | ||
| Q4 24 | $8.3M | $9.4M | ||
| Q3 24 | $7.5M | $8.7M | ||
| Q2 24 | $9.7M | $8.4M | ||
| Q1 24 | $12.5M | $6.1M |
| Q4 25 | — | $-5.3M | ||
| Q3 25 | $-24.0M | $-6.6M | ||
| Q2 25 | $-7.4M | $-6.2M | ||
| Q1 25 | $-7.6M | $-6.5M | ||
| Q4 24 | $-40.0M | $-5.8M | ||
| Q3 24 | $-7.2M | $-2.1M | ||
| Q2 24 | $-10.9M | $-5.9M | ||
| Q1 24 | $-5.3M | $-7.0M |
| Q4 25 | — | — | ||
| Q3 25 | 9.5% | — | ||
| Q2 25 | 6.3% | — | ||
| Q1 25 | 5.7% | — | ||
| Q4 24 | -360.8% | — | ||
| Q3 24 | -39.1% | — | ||
| Q2 24 | 34.6% | — | ||
| Q1 24 | 45.4% | — |
| Q4 25 | — | -38.4% | ||
| Q3 25 | -92.5% | -29.3% | ||
| Q2 25 | -107.6% | -31.3% | ||
| Q1 25 | -120.9% | -32.4% | ||
| Q4 24 | -426.0% | -37.1% | ||
| Q3 24 | -119.8% | -29.2% | ||
| Q2 24 | -38.0% | -55.6% | ||
| Q1 24 | 3.2% | -103.6% |
| Q4 25 | — | -54.4% | ||
| Q3 25 | -284.7% | -66.5% | ||
| Q2 25 | -119.9% | -60.0% | ||
| Q1 25 | -127.3% | -68.7% | ||
| Q4 24 | -483.8% | -61.2% | ||
| Q3 24 | -95.5% | -23.6% | ||
| Q2 24 | -112.4% | -70.1% | ||
| Q1 24 | -41.9% | -115.9% |
| Q4 25 | — | $-0.08 | ||
| Q3 25 | $-1.14 | $-0.14 | ||
| Q2 25 | $-0.93 | $-0.13 | ||
| Q1 25 | $-1.21 | $-0.14 | ||
| Q4 24 | $-7.14 | $-0.14 | ||
| Q3 24 | $-1.56 | $-0.05 | ||
| Q2 24 | $-3.62 | $-0.15 | ||
| Q1 24 | $-2.62 | $-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 | — | — |
| Total DebtLower is stronger | $13.3M | — |
| Stockholders' EquityBook value | $14.5M | $26.2M |
| Total Assets | $152.0M | $70.9M |
| Debt / EquityLower = less leverage | 0.92× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $100.0K | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | $13.3M | — | ||
| Q2 25 | $10.0M | — | ||
| Q1 25 | $10.2M | — | ||
| Q4 24 | $7.1M | — | ||
| Q3 24 | $8.1M | — | ||
| Q2 24 | $9.0M | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $26.2M | ||
| Q3 25 | $14.5M | $22.6M | ||
| Q2 25 | $-19.5M | $28.4M | ||
| Q1 25 | $-16.1M | $28.6M | ||
| Q4 24 | $-12.5M | $35.0M | ||
| Q3 24 | $20.9M | $41.2M | ||
| Q2 24 | $24.4M | $42.7M | ||
| Q1 24 | $21.5M | $44.8M |
| Q4 25 | — | $70.9M | ||
| Q3 25 | $152.0M | $66.7M | ||
| Q2 25 | $92.0M | $70.0M | ||
| Q1 25 | $90.0M | $71.7M | ||
| Q4 24 | $88.0M | $85.5M | ||
| Q3 24 | $97.3M | $87.3M | ||
| Q2 24 | $98.7M | $89.0M | ||
| Q1 24 | $90.6M | $93.3M |
| Q4 25 | — | — | ||
| Q3 25 | 0.92× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.39× | — | ||
| Q2 24 | 0.37× | — | ||
| Q1 24 | — | — |
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 | $-2.2M | $381.0K |
| Free Cash FlowOCF − Capex | $-6.8M | $346.0K |
| FCF MarginFCF / Revenue | -81.4% | 3.6% |
| Capex IntensityCapex / Revenue | 55.2% | 0.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-34.4M | $-11.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $381.0K | ||
| Q3 25 | $-2.2M | $-5.5M | ||
| Q2 25 | $-1.1M | $-4.5M | ||
| Q1 25 | $-177.0K | $-1.8M | ||
| Q4 24 | $-5.1M | $-2.4M | ||
| Q3 24 | $61.0K | $1.5M | ||
| Q2 24 | $-7.3M | $-6.5M | ||
| Q1 24 | $3.9M | $3.8M |
| Q4 25 | — | $346.0K | ||
| Q3 25 | $-6.8M | $-5.5M | ||
| Q2 25 | $-9.7M | $-4.5M | ||
| Q1 25 | $-4.0M | $-1.8M | ||
| Q4 24 | $-13.9M | $-2.4M | ||
| Q3 24 | $-3.4M | $1.5M | ||
| Q2 24 | $-7.6M | — | ||
| Q1 24 | $3.3M | $3.8M |
| Q4 25 | — | 3.6% | ||
| Q3 25 | -81.4% | -56.0% | ||
| Q2 25 | -156.8% | -44.1% | ||
| Q1 25 | -67.1% | -19.4% | ||
| Q4 24 | -168.3% | -25.6% | ||
| Q3 24 | -44.8% | 17.1% | ||
| Q2 24 | -78.2% | — | ||
| Q1 24 | 26.5% | 62.7% |
| Q4 25 | — | 0.4% | ||
| Q3 25 | 55.2% | 0.4% | ||
| Q2 25 | 139.0% | 0.6% | ||
| Q1 25 | 64.2% | 0.2% | ||
| Q4 24 | 107.0% | 0.5% | ||
| Q3 24 | 45.6% | 0.4% | ||
| Q2 24 | 2.5% | 0.0% | ||
| Q1 24 | 4.2% | 0.6% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SLNH
| Data Hosting Revenue | $5.3M | 62% |
| Cryptocurrency Mining Revenue | $2.8M | 33% |
| Other | $389.0K | 5% |
TOON
| Other | $4.6M | 48% |
| CA | $2.8M | 29% |
| Content Distribution | $2.2M | 23% |
