TOKYOPOP has launched an equity crowdfunding campaign, seeking to raise around $1.2 million via equity crowdfunding platform DealMaker Securities, on which companies have raised over $2 billion in over 900 offerings. The campaign comes after a 2025 loss, according to the company’s financials, and a going concern opinion from its accountants.
TOKYOPOP showed a $998,000 loss in 2025, a big drop-off from the $1,875,000 profit in 2024.
Sales reached $16.0 million in 2025, up from $14.8 million in 2024, but gross margin did not grow at the same rate, leading to a gross profit that was only slightly higher than in 2024, while expenses were up nearly $2 million. The company reported $2.1 million in new Event-related expenses, which the notes to the financial statements indicate were primarily due to costs tied to a large Naruto the Gallery exhibition in Berlin which TOKYOPOP’s German operation mounted via a new live events division. There was also a roughly $1 million flip in non-operating income/loss, from $786,000 in income to a $218,000 loss, which we could not further identify from the information provided.
Based on the 2025 results, TOKYOPOP’s accountants provided a going concern opinion with the financials, which states that “conditions raise substantial doubt about the Company’s ability to continue as a going concern within one year.”
TOKYOPOP had over $1.5 million in cash at the end of 2025. The equity raise, if successful, will help strengthen the company’s balance sheet, which had around $1.7 million in stockholders’ equity vs. around $9.5 million in liabilities, a 5.5/1 debt/equity ratio.
TOKYOPOP will need to cut its loss substantially or get back to profitability in 2026 to turn things around operationally. Keeping the event-related expenses in 2025 to a one-time event would make that possible. Big plans for expansion are outlined, including growth in publishing, anime production, merchandise, and live events.
Source: ICV2
