• In a scene of "Teenage Mutant Ninja Turtles: Out of Shadows," Casey Jones (Stephen Amell) introduced himself to April O'Neil (Megan Fox).

In a scene of "Teenage Mutant Ninja Turtles: Out of Shadows," Casey Jones (Stephen Amell) introduced himself to April O'Neil (Megan Fox). (Photo : YouTube / Movieclips Coming Soon)

Sad news has come for fans of "Teenage Mutant Ninja Turtles" as a third film will not push through. The sequel, "Teenage Mutant Ninja Turtles: Out of the Shadows," which was released this summer, is the last movie in the franchise. In an interview, producer Andrew Form said the sequel's underwhelming performance in the box office hit the red light on a potential trilogy.

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Speaking to Collider, Form said that following the success of the 2014 "Teenage Mutant Ninja Turtles" movie, they felt really good about the material they had for the 2016 sequel. "We were obviously surprised at the box office results. We loved the movie. We loved making the movie," Form was quoted by the publication as saying.

However, the sequel fizzled in the box office and failed to attract the same number of audiences the first movie did. "We tried to figure it out, but we cannot put our finger on what happened. We really can't," Form said about what went wrong in the "Teenage Mutant Ninja Turtles: Out of the Shadows."

"It's a sequel. You have to give the audience something that's really new and fresh. Maybe just adding characters from the canon wasn't enough," Form added. When asked about "Teenage Mutant Ninja Turtles 3," Form admitted that it is no longer on the table, but he kept the doors open for another "Turtles" movie in the future.

"Teenage Mutant Ninja Turtles: Out of the Shadows" was one of Paramount's biggest releases for the summer of 2016. Unlike its predecessor, which scored $493 million worldwide, the sequel performed very poorly. It was created with a massive $135 million budget, but only raked in $239 million worldwide, Movie Web reported. Thus, axing what could be a "TNMT 3" is a reasonable move for Paramount.

The sequel retained original cast members Megan Fox and Will Arnett, and added "Arrow" Season 5 star Stephen Amell as Casey Jones. Laura Linney and Tyler Perry also joined the cast.

In the meantime, "Teenage Mutant Ninja Turtles" producers Form and Brad Fuller are also co-producing the horror box office hit "Ouija: Origin of Evil," which is now out in theaters.

Watch "Teenage Mutant Ninja Turtles: Out of the Shadows" review below: