Friday, August 16, 2019

Friday's Headlines | Wizard World Number's Down

Wizard World's revenue from conventions in the second quarter of 2019 has dropped roughly 50% compared to the same time last year, according to its latest quarterly report.

In April through June 2018, Wizard took in $5.1 million in gross revenue from conventions, while in that same frame for 2019 revenue was $2.5m. Wizard offered four events during Q2 2018, but three during Q2 2019; a fourth event was initially planned for June 2019, but later canceled.

Overall, Wizard reported a $359,292 loss for Q2 2019, up from Q1 2019's $232,097 loss but down from the Q2 2018 losses of $505,272.

In this Q2 2019 report, the company calculated it is carrying $5.1m in debt. Wizard World stock is currently trading at $.15 per share. The company has seven additional conventions planned through the end of 2019.