Mega Matrix vs Kartoon Studios
Kartoon Studios is the larger business, with $39.4m of revenue in fiscal 2025 against $26.1m for Mega Matrix (1.5 times as much). Kartoon Studios grew faster (20.7% against -27.9%). Kartoon Studios kept more of each dollar of sales as profit: a net margin of -62.3% against -131.4%. Mega Matrix carries less debt relative to equity (0.0% against 0.0%).
| Latest fiscal year | Mega MatrixMPU, 2025 | Kartoon StudiosTOON, 2025 |
|---|---|---|
| Revenue | $26.1m | $39.4m |
| Revenue growth | -27.9% | 20.7% |
| Net income | −$34.3m | −$24.5m |
| Operating margin | -110.8% | -32.8% |
| Net margin | -131.4% | -62.3% |
| Return on equity | — | -80.2% |
| Free cash flow | — | −$11.6m |
| Cash | $7.3m | $2.9m |
| Total debt | $0 | $0 |
| Debt to equity | 0.0% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | — |
| Market value | $64.2m | $32.6m |
| Price vs our value range | — | — |
| Moat score | — | 15 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |