Kartoon Studios (TOON) reported second-quarter 2026 revenue of $5.8 million, down from $10.3 million a year earlier, while net income totaled $27.0 million. The quarter included $31.1 million of other income, primarily reflecting a $39.2 million litigation-settlement gain.
The company ended June 30 with $40.5 million in cash and marketable securities and no long-term debt. Kartoon also disclosed an Amazon Prime agreement for its Hundred Acre Wood franchise, scheduled to launch February 18, 2027.
- Total revenue was $5.821 million, compared with $10.279 million in the prior-year quarter.
- Net income was $26.949 million, versus a net loss of $6.267 million a year earlier.
- Basic earnings per share were $0.41 and diluted earnings per share were $0.38.
- Operating loss was $3.410 million, compared with a $3.215 million loss in the prior-year period.
- Total operating expenses declined 32% to $9.231 million.
- The company completed the sale of the Frederator channel network business in July while retaining Frederator Studios intellectual property.
$TOON Hedge Fund Activity
We have seen 24 institutional investors add shares of $TOON stock to their portfolio, and 22 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CLEAR STREET GROUP INC. added 3,514,702 shares (+9782.4%) to their portfolio in Q2 2026, for an estimated $2,495,438
- NOMURA HOLDINGS INC added 1,440,506 shares (+78.0%) to their portfolio in Q1 2026, for an estimated $898,875
- HUDSON BAY CAPITAL MANAGEMENT LP added 1,000,000 shares (+inf%) to their portfolio in Q1 2026, for an estimated $624,000
- RENAISSANCE TECHNOLOGIES LLC added 577,225 shares (+4423.9%) to their portfolio in Q2 2026, for an estimated $409,829
- GEODE CAPITAL MANAGEMENT, LLC removed 137,292 shares (-21.0%) from their portfolio in Q2 2026, for an estimated $97,477
- MORGAN STANLEY removed 80,000 shares (-12.9%) from their portfolio in Q2 2026, for an estimated $56,800
- FORTRESS FINANCIAL SOLUTIONS, LLC removed 75,000 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $46,800
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
