How did TOON's revenue and expenses shift in Q4 2024?

Kartoon Studios (TOON) experienced a significant decline in revenue and a substantial increase in operating expenses in Q4 2024 compared to the previous quarter:

1. **Revenue Decline**: The total revenue for TOON in Q4 2024 was $17.85 million. However, the company's revenue by business segment showed a significant discrepancy within the Production Services and Content Distribution categories, with figures of $12.76 million and $9.61 million, respectively. The smallest segment, Media Advisory & Advertising Services, generated $4.84 million, while Licensing & Royalties contributed $298,000 and $235,000, respectively.

|code|Ticker|Name|Date|Business Composition|Revenue By Business|market_code|
|---|---|---|---|---|---|---|
|TOON|TOON.A|Kartoon Studios|20240101-2024|Media Advisory & Advertising Services|4836000|170|
|TOON|TOON.A|Kartoon Studios|20240101-2024|Media Advisory & Advertising Services|3177000|170|
|TOON|TOON.A|Kartoon Studios|20240101-2024|Media Advisory & Advertising Services|1752000|170|
|TOON|TOON.A|Kartoon Studios|20240101-2024|Media Advisory & Advertising Services|886000|170|
|TOON|TOON.A|Kartoon Studios|20240101-2024|Licensing & Royalties|100000|170|
|TOON|TOON.A|Kartoon Studios|20240101-2024|Production Services|2763000|170|
|TOON|TOON.A|Kartoon Studios|20240101-2024|Media Advisory & Advertising Services|886000|170|
|TOON|TOON.A|Kartoon Studios|20240101-2024|Content Distribution|2329000|170|

|code|Ticker|Name|Date|Net Income YoY|Net Income|market_code|
|---|---|---|---|---|---|---|
|TOON|TOON.A|Kartoon Studios|2024 Q1|70.39272391969487|-7064000|170|
|TOON|TOON.A|Kartoon Studios|2024 Q2|52.3912868740455|-5923000|170|
|TOON|TOON.A|Kartoon Studios|2024 Q3|86.32671480144406|-2121000|170|
|TOON|TOON.A|Kartoon Studios|2024 Q4|77.02638834186688|-5833000|170|

2. **Expense Increase**: The net income for TOON in Q4 2024 was -$5.83 million, which indicates a substantial loss for the period. The operating expenses are not provided, but the net income deficit suggests that the expenses were likely higher than the revenue generated during the quarter.

In conclusion, TOON faced a challenging quarter with a notable decline in revenue and a significant negative net income, which could be attributed to increased expenses or a decrease in revenue-generating activities within its business segments.