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Side-by-side financial comparison of Kartoon Studios, Inc. (TOON) and VisionWave Holdings, Inc. (VWAV). Click either name above to swap in a different company.
VisionWave Holdings, Inc. is the larger business by last-quarter revenue ($10.0M vs $9.7M, roughly 1.0× Kartoon Studios, Inc.). Kartoon Studios, Inc. runs the higher net margin — -54.4% vs -69.4%, a 15.0% gap on every dollar of revenue.
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.
CoMix Wave Films, Inc. is a Japanese independent animation film studio and distribution company based in Chiyoda, Tokyo, Japan. The studio is known for its anime feature films, short films, and television commercials, particularly those made by director Makoto Shinkai. It was founded in March 2007 when it split from CoMix Wave Inc., which was initially formed in 1998 from Itochu Corporation, ASATSU, and other companies. On 15 October 2024, Toho announced that they'd acquired 45 shares or 6.0...
TOON vs VWAV — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $9.7M | $10.0M |
| Net Profit | $-5.3M | $-6.9M |
| Gross Margin | — | — |
| Operating Margin | -38.4% | -65.7% |
| Net Margin | -54.4% | -69.4% |
| Revenue YoY | 2.9% | — |
| Net Profit YoY | 8.5% | -1522.6% |
| EPS (diluted) | $-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 | $10.0M | ||
| Q3 25 | $9.9M | — | ||
| Q2 25 | $10.3M | — | ||
| Q1 25 | $9.5M | — | ||
| Q4 24 | $9.4M | — | ||
| Q3 24 | $8.7M | — | ||
| Q2 24 | $8.4M | — | ||
| Q1 24 | $6.1M | — |
| Q4 25 | $-5.3M | $-6.9M | ||
| Q3 25 | $-6.6M | — | ||
| Q2 25 | $-6.2M | — | ||
| Q1 25 | $-6.5M | — | ||
| Q4 24 | $-5.8M | — | ||
| Q3 24 | $-2.1M | — | ||
| Q2 24 | $-5.9M | — | ||
| Q1 24 | $-7.0M | — |
| Q4 25 | -38.4% | -65.7% | ||
| Q3 25 | -29.3% | — | ||
| Q2 25 | -31.3% | — | ||
| Q1 25 | -32.4% | — | ||
| Q4 24 | -37.1% | — | ||
| Q3 24 | -29.2% | — | ||
| Q2 24 | -55.6% | — | ||
| Q1 24 | -103.6% | — |
| Q4 25 | -54.4% | -69.4% | ||
| Q3 25 | -66.5% | — | ||
| Q2 25 | -60.0% | — | ||
| Q1 25 | -68.7% | — | ||
| Q4 24 | -61.2% | — | ||
| Q3 24 | -23.6% | — | ||
| Q2 24 | -70.1% | — | ||
| Q1 24 | -115.9% | — |
| Q4 25 | $-0.08 | — | ||
| Q3 25 | $-0.14 | — | ||
| Q2 25 | $-0.13 | — | ||
| Q1 25 | $-0.14 | — | ||
| Q4 24 | $-0.14 | — | ||
| Q3 24 | $-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 | — | $15.7K |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $26.2M | $3.1M |
| Total Assets | $70.9M | $18.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $15.7K | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $100.0K | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $26.2M | $3.1M | ||
| Q3 25 | $22.6M | — | ||
| Q2 25 | $28.4M | — | ||
| Q1 25 | $28.6M | — | ||
| Q4 24 | $35.0M | — | ||
| Q3 24 | $41.2M | — | ||
| Q2 24 | $42.7M | — | ||
| Q1 24 | $44.8M | — |
| Q4 25 | $70.9M | $18.4M | ||
| Q3 25 | $66.7M | — | ||
| Q2 25 | $70.0M | — | ||
| Q1 25 | $71.7M | — | ||
| Q4 24 | $85.5M | — | ||
| Q3 24 | $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 | $381.0K | $-5.4M |
| 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 | $-5.4M | ||
| Q3 25 | $-5.5M | — | ||
| Q2 25 | $-4.5M | — | ||
| Q1 25 | $-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
TOON
| Other | $4.6M | 48% |
| CA | $2.8M | 29% |
| Content Distribution | $2.2M | 23% |
VWAV
Segment breakdown not available.
