IDW may only have a little over a year left.

[Slashy]

Quote

Wih both divisions losing sales, parent IDW Media Holdings sales were down 44%, from $11.8 million in Q1 2022 to $6.6 million in fiscal Q1 2023. The company lost $2 million in the quarter, compared to a $2 million profit in the year ago quarter. The loss in the quarter follows an improving loss of $700,000 in the fiscal year ended October 31 (see "IDW Publishing Posts Big Losses"). CFO Brooke Feinstein told analysts in the conference call that the company had enough cash to sustain operations "for at least the next year."

https://icv2.com/articles/news/view/53584/idw-publishing-loses-335-000-fiscal-q1

Quote

In financial reports released to investors and the public this afternoon, IDW Media Holdings (the parent company of IDW Publishing and IDW Entertainment) revealed financial numbers for its second quarter of 2023. The report, and a later investor call, gives more insight into what was happening in the company which led to the massive layoffs and company "reset."

 

"In terms of vision for the company going forward, there's different stages of the vision," new IDW CEO Davidi Jonas says. "Cutting costs and creating efficiences was necessary - it wasn't just to protect shareholders from potential dilution, but to globally protect the company and cashflow."

Looking over the financial report, the most worrisome thing in the company's books is IDW's reported cash balance - the actual money it has on-hand for business. According to the Q2 2023 figures, IDW lost 8.1 million in cash over the past 12 months. In Q2 2022, it reported $13.7m in cash on-hand, while in Q2 2023 that number is down to $5.6m.

Jonas said that while they believe the $5.6m cash on-hand is "sufficient" to see them revitalize the company, in the subsequent investors call, he did make it clear that the IDW board is opening the door to the possibility they are beginning to consider bringing in select outside investors "from a positiion of strength" to give them enough cash flow to turn the ship around.

 

 

https://www.thepopverse.com/idw-publishing-entertainment-media-holdings-2023-q2-quarter-2

 

[DaBigJ]

Where does this mention having only a year left? This just feels like paranoia.

[SatAMhog]

This line specifically "CFO Brooke Feinstein told analysts in the conference call that the company had enough cash to sustain operations "for at least the next year."

[MetalSkulkBane]

Let's deal with it like with snail infestation and take it with humongous amounts of grains of salt.

[CrownSlayers Shadow]

While I find it doubtful, I wouldn’t really be surprised if the worst came to past like it did for Archie Sonic.

[Adamis]

Quote

Jonas said that while they believe the $5.6m cash on-hand is "sufficient" to see them revitalize the company, in the subsequent investors call, he did make it clear that the IDW board is opening the door to the possibility they are beginning to consider bringing in select outside investors "from a positiion of strength" to give them enough cash flow to turn the ship around.

Sounds like a plan.

[Ducktor Naldush]

People have been saying stuff like "IDW is doomed" for years now (and curiously enough it's always been people who very vocally don't like the IDW comic and yearn for the Archie comic to come back to almost irritating levels). 

 

IDW always lands back on its feet, I have no idea how they do that, but even this time it's going to be the case. 

[SkyHorizon]

10 hours ago, Slashy said:

https://icv2.com/articles/news/view/53584/idw-publishing-loses-335-000-fiscal-q1

https://www.thepopverse.com/idw-publishing-entertainment-media-holdings-2023-q2-quarter-2

Uhm... didn't someone said precisely the same thing... last year?

[Shaddy Zaphod]

3 hours ago, CrownSlayer’s Shadow said:

While I find it doubtful, I wouldn’t really be surprised if the worst came to past like it did for Archie Sonic.

I would. Archie went down the way it did because it was a tangled web of people, ideas, contracts, legal troubles, antiquated workplace practices, SEGA being unhappy with the direction, and poor sales. IDW is just...running out of money, even with Sonic selling well. I think if worst came to worst for the company, the Sonic comics would move to another publisher without changing much of their fundamental makeup, let alone any change to canon.

[Red Hot Jack]

Can I counter argue with something slightly off topic? Just to bring in some positivity: Last month Sonic #60 was 10th in the top 10 comic books rising in value up there with Spider-man and Star Wars comics, according to this site:

https://comicbook.com/comics/news/top-10-comic-books-rising-in-value-covrprice-star-wars-spider-man/

Just rooting for IDW Sonic to survive for a while longer, that is all.

[castell-neath]

Please publish the last few IDW collection books - vols 4, 5 and 6 asap...please.

That should bring us up to date and generate some coin for the company.

Tnmt has 15 volumes out! 15!! 

[sonicclaasic]

I'm always hearing news about IDW not doing well In sales but I have faith In the IDW Sonic comics series because I'm really enjoying the series so far and collecting the different covers of the comics as well. I have about 175 different variant covers and growing still In my collection.

I don't want the IDW Sonic comics to end yet I love to see It last longer still. To me 5 years Is not that old for the series of the IDW Sonic comics and I hope It still continues this amazing Sonic comics series.

[CrownSlayers Shadow]

5 hours ago, Shaddy Zaphod said:

I would. Archie went down the way it did because it was a tangled web of people, ideas, contracts, legal troubles, antiquated workplace practices, SEGA being unhappy with the direction, and poor sales. IDW is just...running out of money, even with Sonic selling well. I think if worst came to worst for the company, the Sonic comics would move to another publisher without changing much of their fundamental makeup, let alone any change to canon.

I wasn’t trying to imply legal troubles, my worst case was referring to them running out of funds and not holding on to the liscence as a result.

People keep referring to its stock values and pointing to that as them going kaput. That’s what I meant.

 

Now if there were legal troubles too, that would be something else.

[DaddlerTheDalek]

On 6/20/2023 at 11:06 AM, Ducktor Naldush said:

People have been saying stuff like "IDW is doomed" for years now (and curiously enough it's always been people who very vocally don't like the IDW comic and yearn for the Archie comic to come back to almost irritating levels). 

IDW always lands back on its feet, I have no idea how they do that, but even this time it's going to be the case. 

More like the Penders/Bollers era of the Archie comics with some of them. 

[Slashy]

IDW just got rid of its HR department and all but one of its development executives.

https://bleedingcool.com/comics/major-redundancies-hit-idw-publishing-tonight/

[castell-neath]

3 minutes ago, Slashy said:

IDW just got rid of its HR department and all but one of its development executives.

https://bleedingcool.com/comics/major-redundancies-hit-idw-publishing-tonight/

Oooff. Thats a big series of layoffs. Hopefully those effected will get jobs elsewhere soon, but what a crappy stressful time for them. 

As for the Sonic IDW series...curious to see how or if it will have a significant impact going forward.

[Maple Syrup]

It's only been 6 years! I liked how the series was going!

[Red Hot Jack]

They have been saying IDW is dying for quite a while, we'll see what happens.

Meanwhile IDW Sonic has finally debuted in my country, Italy. It was about time! I already bought volume 1. Excited for what comes next.