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Gaia vs Kartoon Studios: revenue, profit, margins and growth compared

Gaia brought in $99M of revenue in fiscal 2025, Kartoon Studios $39.4M in fiscal 2025. Revenue changed by +10.8% at Gaia and +20.7% at Kartoon Studios on the year before, so Kartoon Studios grew faster. Gaia kept -4.5% of its revenue as net profit, Kartoon Studios -62.3%. Free cash flow was -$377K at Gaia and -$11.6M at Kartoon Studios.

Side by side, latest fiscal year

GAIATOON
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$99M$39.4M
Revenue growth+10.8%+20.7%
Net income-$4.5M-$24.5M
Net margin-4.5%-62.3%
Free cash flow-$377K-$11.6M
Free cash flow margin-0.4%-29.4%
Earnings per share (diluted)-$0.18-$0.49
Cash$13.5M$2.9M
Debt$5.7Mn/a
Price to earningsn/an/a
Market value$33.1M$36M
Dividend yieldn/an/a
Rank by revenue in sector#688 of 778 · Consumer discretionary#722 of 778 · Consumer discretionary

Over the years

Revenue
GAIA FY2018: $42MGAIA FY2019: $54MGAIA FY2020: $66.8MGAIA FY2021: $79.6MGAIA FY2022: $82MGAIA FY2023: $80.4MGAIA FY2024: $89.3MGAIA FY2025: $99MTOON FY2018: $993.5KTOON FY2019: $5.9MTOON FY2020: $2.5MTOON FY2021: $7.9MTOON FY2022: $62.3MTOON FY2023: $44.1MTOON FY2024: $32.6MTOON FY2025: $39.4MFY18FY19FY20FY21FY22FY23FY24FY25
GAIA $99MTOON $39.4M
Net income
GAIA FY2018: -$33.8MGAIA FY2019: -$18.2MGAIA FY2020: $519KGAIA FY2021: $3.7MGAIA FY2022: -$3.6MGAIA FY2023: -$5.6MGAIA FY2024: -$5.2MGAIA FY2025: -$4.5MTOON FY2018: -$9MTOON FY2019: -$11.5MTOON FY2020: -$401.7MTOON FY2021: -$126.3MTOON FY2022: -$45.6MTOON FY2023: -$77.1MTOON FY2024: -$20.7MTOON FY2025: -$24.5MFY18FY19FY20FY21FY22FY23FY24FY25
GAIA -$4.5MTOON -$24.5M
Net margin
GAIA FY2018: -80.5%GAIA FY2019: -33.6%GAIA FY2020: 0.8%GAIA FY2021: 4.7%GAIA FY2022: -4.4%GAIA FY2023: -7.0%GAIA FY2024: -5.9%GAIA FY2025: -4.5%TOON FY2018: -906.3%TOON FY2019: -194.3%TOON FY2020: -16,176.8%TOON FY2021: -1,604.1%TOON FY2022: -73.2%TOON FY2023: -174.9%TOON FY2024: -63.6%TOON FY2025: -62.3%FY18FY19FY20FY21FY22FY23FY24FY25
GAIA -4.5%TOON -62.3%
Revenue growth
GAIA FY2019: +28.5%GAIA FY2020: +23.8%GAIA FY2021: +19.1%GAIA FY2022: +3.1%GAIA FY2023: -2.0%GAIA FY2024: +11.0%GAIA FY2025: +10.8%TOON FY2019: +494.7%TOON FY2020: -58.0%TOON FY2021: +217.1%TOON FY2022: +691.3%TOON FY2023: -29.2%TOON FY2024: -26.1%TOON FY2025: +20.7%FY19FY20FY21FY22FY23FY24FY25
GAIA +10.8%TOON +20.7%
Free cash flow
GAIA FY2018: -$40.2MGAIA FY2019: -$21.3MGAIA FY2020: -$1.7MGAIA FY2021: $3.5MGAIA FY2022: -$6.7MGAIA FY2023: $596KGAIA FY2024: $1.9MGAIA FY2025: -$377KTOON FY2018: -$8MTOON FY2019: -$6.3MTOON FY2020: -$8.1MTOON FY2021: -$24.1MTOON FY2022: -$26.5MTOON FY2023: -$16.2MTOON FY2024: -$3.6MTOON FY2025: -$11.6MFY18FY19FY20FY21FY22FY23FY24FY25
GAIA -$377KTOON -$11.6M

Fiscal years as each company reports them; the two may end in different months.

Questions about Gaia and Kartoon Studios

Which is bigger by revenue, Gaia or Kartoon Studios?

Gaia is bigger by revenue: $99M in fiscal 2025, against $39.4M for Kartoon Studios in fiscal 2025.

Which keeps more of its revenue as profit, Gaia or Kartoon Studios?

Gaia had a net margin of -4.5% in fiscal 2025; Kartoon Studios had -62.3% in fiscal 2025.

Which grew revenue faster, Gaia or Kartoon Studios?

In their latest fiscal years revenue changed by +10.8% at Gaia and +20.7% at Kartoon Studios.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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