IDW Shows Solid Results Despite Pandemic Setbacks

IDW Media Holdings, the parent company of IDW Games, recorded a loss of almost $40,000 with $11.6 million in revenue for their fiscal period ending in April. 

The result was much better than previous quarters, even as the company dealt with the shut down of its comic division and travel publishing business, CTM Media Group. The company loss $3.6 million for the same period last year, and $6.8 million for its last fiscal quarter. 

The company did not release any detailed information on tabletop game sales.

IDW Publishing saw increase sales from backlisted items, games, puzzles, and digital offerings though all channels. Some of that gain was achieved through focusing on the library, book and digital markets, web store and foreign sales. 

The companies entertainment division gained with its Locke & Key series on Netflix, which has been renewed for a second season. 

The company did take $1.2 million in PPP loans before the close of the quarter. It also completed a private placement of 2.05 million shares of its Class B common stock at a sale price of $6.00 per share during the quarter. Aggregate gross proceeds were $12.3 million inclusive of a $4.0 million debt-to-equity conversion by IDW’s Chairman, Howard Jonas.

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