IDW Media Holdings reported net income of $450,000 year-to-date through July, a turnaround from a net loss of nearly $1.5 million in the prior-year period, following a $1 million net loss in 2024 and a $5.4 million net loss in 2023. Revenue grew by nearly $1 million year-over-year, an 11% increase, driven by broad-based strength, particularly in comics sales, while gross margin held steady at 43% as strong backlist performance offset inventory cleanup of slower-moving legacy stock. Operating expenses fell by nearly $100,000 compared to last year after normalizing for last year's Q1 Diamond Comic Distributors bankruptcy impact, with reductions in legal fees, IT infrastructure, and rent and utilities offsetting elevated shipping costs and inflationary pressures. Teenage Mutant Ninja Turtles #20, the 300th Turtles issue, sold over 25,000 copies in July, and crossover titles TMNT vs. Godzilla and Sonic the Hedgehog vs. Godzilla launched with exceptional strength, while the TMNT: The Last Ronin box set outperformed projections. The company plans to move to OTC Pink Limited and will report only unaudited financials annually, expects to save approximately $200,000 or more per year from ending quarterly reporting, and said the Last Ronin movie with Paramount did not move forward, though it will continue publishing titles in The Last Ronin Universe.
Paramount Skydance CorporationThe Last Ronin movie with Paramount did not move forward, removing a potential film project for the studio.
Alibaba Pictures Group LtdIDW swung to a $450,000 profit as revenue rose 11% with gross margin steady at 43%.
