Why Genius Brands (GNUS) Shares Are Surging Today

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Genius Brands International Inc GNUS reported second-quarter FY22 sales growth of 843% year-on-year to $21.2 million. EPS loss was $(0.04).
The revenue increase reflects the inclusion of WOW! and Ameba.
The operating expenses rose 210% Y/Y to $30.7 million.
The operating loss for the quarter totaled $(8.6) million versus a loss of $(7.6) million last year.
The company held $105.2 million in cash and equivalents.
GNUS inked an agreement to license the name and likeness of Stan Lee to Marvel Studios and the Walt Disney Co DIS.
Related: Genius Brands CEO On Disney: 'There Is More Than A Chance' For More Deals After Stan Lee Agreement
GNUS collaborated with renowned chef, restauranteur, entrepreneur, and philanthropist, Wolfgang Puck, to create an animated children's series, Wolfgang Puck's Secret Chef Academy, along with healthy food products for children.
GNUS launched the commercial free streaming subscription service, Kartoon Channel! Kidaverse in the U.S. and expanded Kartoon Channel Worldwide.
Also Read: How Genius Brands Stock Looks Following Stan Lee Licensing Deal
Price Action: GNUS shares are trading higher by 19.9% at $1.21 on the last check Wednesday.