IDW Media Holdings, parent company of Transformers x Back To The Future, Transformers and My Little Pony / Transformers comics home IDW Publishing, released its third quarter fiscal year 2020 results detailing a net loss per share of $(0.47) on revenue of
$8.5 million for the three months ended July 31, 2020.
Navigating a turbulent quarter covered on these pages, IDW Publishing posted increased revenue from $4.7 million in 2Q20 to $5.2 million in 3Q20. From comments by Ezra Rosensaft, Chief Executive Officer:
“In the third quarter, IDW’s publishing operations continued to be impacted by the closure of many comic shops and our direct market distributor, Diamond, in the spring. On May 20th, Diamond resumed operations on a limited basis. However, direct market volumes have not yet recovered to pre-pandemic levels. Our publishing team, to its great credit, pivoted quickly… aggressively and successfully pursuing sales through the indirect market and direct-to-consumer channels.”
During the earnings call, Rosensaft mentioned an upcoming overhaul of IDW Publishing’s website and apps to enhance long term direct-to-consumer channel growth. A national stock exchange listing is also still part of future plans.
Crunch numbers in the press release here, then join in the discussion on the 2005 boards!