IDW Publishing lost around $200,000 on declining sales in its fiscal Q2 ended April 30, 2023, an improvement from the $300,000 loss in Q2 2022, according to IDW Media Holding’s Q2 release. The Q1 loss was $335,000 (see “IDW Publishing Loses $335,000“).
IDW Publishing sales were $1.9 million, down from $2.3 million in the year ago quarter, a decline the company attributed to a difference in sales to Scholastic. The company’s entertainment division had no meaningful sales.
The company-wide loss was $1.9 million, an improvement from the $2.3 million loss in the year ago period. There was no mention of a reserve or expenses related to a major downsizing around the end of April (see “IDW Lays Off 39% of Staff“); those costs and eventual savings have presumably not hit the operating statement yet. The loss for the first half of the fiscal year is $3.9 million.
New CEO Davidi Jonas laid out his plans for the company in an ICv2 interview shortly after the restructuring was announced (see “Davidi Jonas Interview“).
Source: ICv2
