IDW Entertainment, the company behind Locke & KeyWynonna Earp and October Faction, as well as licensed properties such as TransformersGhostbusters and Teenage Mutant Ninja Turtles, has reported major financial losses in 2019.

"In the fourth quarter of fiscal 2019, revenue was boosted by delivery of V Wars and the majority of the October Faction episodes to Netflix, while the legacy production finance agreements utilized for these shows and production cost overages resulted in significant losses," IDW Chairman and CEO Howard Jonas said in the company's fourth quarter and full fiscal year 2019 results report. "The remaining impact of these legacy deals will be recognized in the first quarter fiscal 2020 results reflecting the delivery of the balance of October Faction episodes to Netflix. Looking ahead, IDW Entertainment is delivering season one of Locke & Key to Netflix and we expect that it will contribute to our bottom line in the first half of fiscal 2020."

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In terms of actual dollars, despite a revenue increase thanks to its Netflix series, IDW is reporting a full fiscal year operational loss of $26.4 million in 2019. That said, Jonas' outlook remains positive. "IDW is on track to attain steadily profitable operations in 2021 and beyond with prospective upside from potential renewals of IDW Entertainment’s current line-up, from our previously announced deal with Cineflix and SyFy for distribution of Wynonna Earp, from new deals that the IDW Entertainment team is developing from its IP pipeline and from our focus on complete franchise monetization through merchandising, games, video on demand, and other fandom-driven channels," he said. "We are working to ensure that all divisions of IDW operate profitably by fiscal 2021."

In light of Jonas' 2021 prospects, he confirmed IDW is considering listing the company on a national stock exchange to "enhance our visibility, increase liquidity in the market for our stock, and broaden our shareholder base."

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