It’s a solid Q1 2025 for Thunderbird Entertainment, which released its latest financials yesterday (November 20). 

The Vancouver-based company posted US$32.7 million (CAD$45.7 million) in revenue for the quarter ending on September 30—a 36% uptick compared to the same period last year, when it reported US$24 million (CAD$33.6 million). Adjusted EBITDA is also up 64% year-over-year to US$2.9 million (CAD$4.1 million)

Thunderbird attributed this growth to an increase in production service engagements and reduction in general/admin costs, with CEO and chair Jennifer Twiner McCarron noting that the results are a sign that the company is “not only navigating industry headwinds, but beginning to thrive once again.”

Thunderbird Kids & Family (producing under Atomic Cartoons) had 18 titles for 11 clients in production this quarter. Among the highlights: Thunderbird began production on The Day You Begin (PBS KIDS); announced Marvel’s Iron Man and his Awesome Friends (Disney Junior); and locked down more sales for BooSnoo! and Mittens & Pants (pictured) from its buzzy third-party roster.

The company said it’s on track to meet its 2025 projections, targeting 20% revenue growth and more than 10% adjusted EBITDA growth.

Meanwhile, Thunderbird is closely following the negotiations between the Alliance of Motion Picture and Television Producer (AMPTP) and the International Alliance of Theatrical Stage Employees (IATSE) Local 839 (representing animators and other related professionals), noted Twiner McCarron. “The key issues under discussion include job security and subcontracting, fair compensation, and addressing the use of Generative AI in animation production. We understand that they are making progress towards a new three-year deal, and [we] hope for an equitable solution.”