IDW Financial Loses Continue | What Does it Mean?

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IDW Reports Massive 2019 Losses, Expects to See Profitability in 2021
https://www.cbr.com/idw-entertainment...

IDW Entertainment, the company behind Locke & Key, Wynonna Earp and October Faction, as well as licensed properties such as Transformers, Ghostbusters and Teenage Mutant Ninja Turtles, has reported major financial losses in 2019.

"In the fourth quarter of fiscal 2019, revenue was boosted by delivery of V Wars and the majority of the October Faction episodes to Netflix, while the legacy production finance agreements utilized for these shows and production cost overages resulted in significant losses," IDW Chairman and CEO Howard Jonas said in the company's fourth quarter and full fiscal year 2019 results report. "The remaining impact of these legacy deals will be recognized in the first quarter fiscal 2020 results reflecting the delivery of the balance of October Faction episodes to Netflix. Looking ahead, IDW Entertainment is delivering season one of Locke & Key to Netflix and we expect that it will contribute to our bottom line in the first half of fiscal 2020."

In terms of actual dollars, despite a revenue increase thanks to its Netflix series, IDW is reporting a full fiscal year operational loss of $26.4 million in 2019. That said, Jonas' outlook remains positive. "IDW is on track to attain steadily profitable operations in 2021 and beyond with prospective upside from potential renewals of IDW Entertainment’s current line-up, from our previously announced deal with Cineflix and SyFy for distribution of Wynonna Earp, from new deals that the IDW Entertainment team is developing from its IP pipeline and from our focus on complete franchise monetization through merchandising, games, video on demand, and other fandom-driven channels," he said. "We are working to ensure that all divisions of IDW operate profitably by fiscal 2021."

In light of Jonas' 2021 prospects, he confirmed IDW is considering listing the company on a national stock exchange to "enhance our visibility, increase liquidity in the market for our stock, and broaden our shareholder base."

IDW PUBLISHING LOST $800,000 IN FISCAL Q4, $5.2 MILLION FOR THE YEAR
https://icv2.com/articles/news/view/4...

IDW Media Holdings continued its large-scale losses in its fiscal Q4 ended October 31, capping off a year of increased sales and declining losses, the company announced on Thursday.

IDW Publishing, which includes comics, graphic novels, and games, lost $800,000 in fiscal Q4 and $5.2 million for the year on flat sales in Q4 ($5.8 million) and declining sales for the year (from $21.9 million in fiscal 2018 to $20.1 million in fiscal 2019). The $800,000 loss for publishing was flat with fiscal Q4 2018, but the earlier part of the year was tough (see "IDW Publishing Loses $1.2 Million in Fiscal Q3"); the $5.2 million publishing loss for the year was up substantially from the $3.4 million loss in fiscal 2018.

The entertainment division delivered V Wars and most of the October Faction episodes to Netflix in the quarter, with legacy production agreements producing major losses of $17.2 million on higher revenues of $22.6 million. After the remaining episodes of October Faction are delivered, which will produce additional losses, Locke & Key is up next, which the company expects to be profitable.

IDW Media Holdings, which includes the entertainment, publishing, and CTM divisions, lost $26.4 million for the year, an improvement from the $36 million loss in fiscal 2018, on revenues of $62.6 million, up from $58.7 million in fiscal 2018.

IDWReports FourthQuarter and Full Fiscal Year 2019 Results
https://idwmediaholdings.com/wp-conte...

WJS Markets Report
https://www.wsj.com/market-data/quote...


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