Summary of USA TODAY Conference Call Company Overview - **Company**: USA TODAY (NYSE: GCI) - **Key Executives**: Mike Reed (CEO), Trisha Gosser (CFO) Industry Insights - **Digital Revenue Growth**: In Q4, 47% of USA TODAY's revenue was derived from digital sources, with expectations to surpass 50% in 2026 [3][4] - **Audience Reach**: The company has the largest audience among traditional news media in the U.S., reaching approximately 180 million unique users [3] Core Business Strategies B2C and B2B Revenue Streams - **B2C Strategy**: Focus on increasing Average Revenue Per User (ARPU) through: - Advertising - Subscriptions - Commerce (currently off-platform, with plans to develop on-platform commerce) [4][5] - **B2B Strategy**: Selling content to other companies, including AI licensing and syndication revenue [4][5] Digital Subscription Strategy - **Revamped Strategy**: Shifted focus from high-volume promotional tactics to acquiring customers with higher lifetime value, resulting in improved retention and lower churn [6][8] - **Customer Engagement**: New strategies include pay-per-article options and registration to enhance user engagement and monetization [9] DMS (Digital Marketing Solutions) - **Core Value Proposition**: Aimed at helping small and medium-sized businesses simplify digital marketing, leveraging AI for lead conversion and scoring [11][12] - **Growth Expectations**: Anticipated growth in 2026 due to new tools and first-party data integration [12][14] AI Partnerships - **Strategic Partnerships**: Expanded collaborations with major tech companies like Amazon, Microsoft, and Meta, which are expected to drive revenue growth in 2026 [15][16] - **Flexibility in Deals**: Short-term agreements to adapt to evolving business models of tech partners [17] Impact of AI on Publishing - **Traffic Concerns**: AI chatbots do not drive traffic back to publishers, leading to a strategy of licensing content to them [18][19] - **Traffic Management**: USA TODAY has managed to offset declines in search traffic through direct and social referrals, maintaining overall traffic levels [19][20] Advertising Revenue Growth - **Data Utilization**: Increased consumer data allows for better-targeted advertising, focusing on premium and video advertising to enhance revenue [21][22] - **Rebranding Impact**: The transition from Gannett to USA TODAY Co. has improved brand recognition, resulting in over 30 new advertising partnerships [22][23] Cost Management and Financial Health - **Cost Savings Program**: Implemented a $100 million cost savings initiative focusing on automation and print operations, including shuttering major print facilities [26][27] - **Debt Reduction**: Reduced debt to below $1 billion, with a target of achieving 2x net leverage by the end of 2026 [28][29] Legal Developments - **Google Antitrust Case**: Positive developments in the ongoing litigation against Google, with expectations for favorable rulings that could enhance the digital advertising landscape [41][43] Future Outlook - **Revenue Growth Focus**: The primary goal for 2026 is to achieve sustainable revenue growth, moving away from reliance on print [46][47] - **Content Diversification**: Plans to expand content offerings beyond news into areas like entertainment and sports, similar to strategies employed by competitors like The New York Times [47] Conclusion - USA TODAY is positioned for growth through digital transformation, strategic partnerships, and a focus on enhancing customer engagement and monetization strategies. The company aims to leverage its audience and content to drive advertising revenue while managing costs and reducing debt.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-36097 USA TODAY CO., INC. (Exact name of registrant as specified in its charter) Delaware 38-3910250 (State or Other Jurisdiction of Inc ...

Financial Data and Key Metrics Changes - In Q4 2025, total adjusted EBITDA surpassed $90 million, growing approximately 17% year-over-year, with a margin expansion of 300 basis points to approximately 16% [5][6] - Total revenues were $585 million, a decrease of 5.8% year-over-year, but a 290 basis point improvement in same-store trends compared to Q3 [24][25] - Free cash flow in Q4 increased to $32 million, reflecting significant growth over the prior year [6][31] Business Line Data and Key Metrics Changes - Digital revenues represented more than 47% of total revenues, marking an all-time high, with digital advertising revenues increasing 1.8% year-over-year [5][27] - Digital-only subscription revenues totaled $45.6 million, up 4.4% over Q3, with digital-only ARPU reaching a record high of $9.81, up 24% year-over-year [12][28] - The USA TODAY Media segment revenue decreased 7.3% in Q4, while segment adjusted EBITDA increased 19.3% year-over-year [29] Market Data and Key Metrics Changes - The company attracted an average of 179 million unique monthly visitors, maintaining over 1 billion page views per month domestically [11][14] - Newsquest reported total revenues of GBP 60.1 million, up 3.1% year-over-year, representing the third consecutive quarter of revenue growth [30] Company Strategy and Development Direction - The company aims to surpass 50% of total revenues from digital in 2026, focusing on expanding digital revenue and improving engagement [7][80] - Strategic initiatives include AI licensing agreements and enhancing content in high-interest verticals such as sports and entertainment [24][28] - The company plans to further expand its subscription portfolio around high-interest areas and differentiated content experiences [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued digital revenue growth and improving same-store revenue trends into 2026 [39][41] - The company expects full-year growth in net income, total adjusted EBITDA, and free cash flow, driven by improved revenue trends and cost reductions [36][80] - Management highlighted the importance of local journalism and the potential for further growth through AI partnerships [10][20] Other Important Information - The company repaid approximately $136 million of long-term debt in 2025, reducing First Lien Net Leverage to 2.4 times [9][31] - The transfer of The Detroit News is expected to strengthen the USA TODAY Network's audience and local journalism efforts [32][33] Q&A Session Summary Question: Will the revenue improvement continue in 2026? - Management confirmed that continued digital revenue growth and improved engagement will drive revenue improvement in 2026 [39][40] Question: What is driving the slight cash usage in Q1? - Management indicated that the cash usage is largely due to seasonality and timing, consistent with historical trends [43] Question: Is there more upside for digital ARPU? - Management believes there is room to grow ARPU through smarter pricing and better retention strategies [45][48] Question: What is the outlook for AI licensing revenue in 2026? - Management expects significant growth in AI licensing revenue, driven by existing and new deals [50][52] Question: What are the debt paydown expectations for 2026? - Management aims to reduce First Lien Net Leverage closer to 2 times by focusing on operating performance and free cash flow [53][54] Question: What is the status of the Google lawsuit? - Management provided an update on the lawsuit, indicating a favorable ruling on certain claims and anticipating a jury trial by late 2026 or early 2027 [63][65]

USA TODAY (NYSE:GCI) Q4 2025 Earnings call February 26, 2026 08:30 AM ET Company ParticipantsGiuliano Bologna - Managing DirectorKristin Roberts - PresidentMatt Condon - Director Equity Research of Internet and Digital MediaMatt Esposito - Head of Investor RelationsMike Reed - Chairman and CEOTrisha Gosser - CFOConference Call ParticipantsBarton Crockett - Managing Director and Senior Research AnalystOperatorGreetings! Welcome to the USA TODAY Co., Inc. Q4 2025 earnings call. At this time, all participants ...

USA TODAY (NYSE:GCI) Q4 2025 Earnings call February 26, 2026 08:30 AM ET Speaker6Greetings! Welcome to the USA TODAY Co., Inc. Q4 2025 earnings call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star 0 on your telephone keypad. Please note, this conference is being recorded. I will now turn the conference over to your host, Matt Esposito, Head of In ...

Disclaimer and Notes In General. This disclaimer applies to this document and the verbal or written comments of any person presenting it. This document, taken together with any such verbal or written comments, is referred to herein as the "Presentation." USA TODAY Co., Inc. is referred to in this Presentation as "USA TODAY Co.," "we", "us", "our" or the "Company". Q4 2025 Earnings Non-GAAP Measures. This Presentation includes non-GAAP financial and performance measures, such as Total Adjusted EBITDA, Total ...

USA TODAY Co. Announces Fourth Quarter Results & 2026 Business Outlook NEW YORK, NY — February 26, 2026 — USA TODAY Co., Inc. ("USA TODAY Co.", "we", "us", "our", or the "Company") (NYSE: TDAY) today reported its financial results for the fourth quarter ended December 31, 2025. "In the fourth quarter, we delivered one of our strongest performances in recent years. Same-store revenue trends achieved their best performance in nearly four years, driven by an expansion of digital revenues, which returned to yea ...

Core Viewpoint - Gannett's media reported that no one won the Powerball jackpot, leading to a rollover of the prize to at least $80 million for the next drawing [1]. Group 1 - The winning numbers for the recent Powerball drawing were 3-8-31-60-65, with the Powerball being 4 [1]. - The next Powerball jackpot is expected to accumulate to a minimum of $80 million [1].

Summary of USA TODAY's Conference Call Company Overview - **Company**: USA TODAY Co. - **Industry**: Media and Publishing Key Operating Pillars 1. **Content and Audience**: - Focus on expanding content strategy beyond news to engage a broader audience and increase repeat visits [4][5] - Achieved approximately 187 million unique visitors monthly, ranking among the top three in the U.S. digital news ecosystem [5] - Emphasis on verticals such as sports, entertainment, and events to enhance audience engagement [6] 2. **Diversified Digital Revenue Streams**: - Strategy includes digital advertising, subscriptions, e-commerce, digital marketing solutions, and AI licensing [6][7] - Digital revenue accounted for 47% in Q3 2023, with expectations to exceed 50% by 2026 [10][14] 3. **Strengthening Capital Structure**: - Aim to reduce debt to approximately one times EBITDA, having already decreased debt by nearly $1 billion since the 2019 merger [7][8] - Focus on maintaining liquidity and investing in business growth [9] Digital Transformation - Transitioning from a legacy print business to a digital-first model, with a goal of achieving over 50% digital revenue by 2026 [10][12] - Comparison to New York Times, which successfully transitioned to a growing digital business, indicating potential for multiple re-rating [10][12] Revenue Growth and Engagement - AI licensing agreements with major companies like Meta, Microsoft, and Amazon are expected to drive new revenue streams [14][15][26] - Digital advertising is seeing a resurgence as brand advertisers return to quality media platforms [17][18] - New initiatives like "Play" are enhancing audience engagement and driving additional revenue [19][20] AI and Licensing - AI applications are viewed as a potential net positive for the media industry, with ongoing efforts to block unauthorized scraping of content [21][25] - Licensing deals with major tech companies are expected to enhance revenue opportunities [24][26] Legal Matters - Ongoing antitrust lawsuit against Google aims to create a level playing field in the digital advertising ecosystem [27][30] - Positive developments in litigation, including favorable summary judgment and upcoming trial milestones [28][29] Rebranding Strategy - Rebranding to USA TODAY aimed to leverage brand equity and improve recognition among advertisers and consumers [32][36] - The rebranding is expected to open up new national advertising revenue opportunities [36] Cost Management and Capital Allocation - A $100 million cost savings program focused on sustainability and efficiency, including automation and outsourcing [40][41] - Debt repayment remains a top priority, with plans to reduce leverage and increase flexibility for future investments [44][46] Investor Insights - Emphasis on long-term growth and transformation, with a call for patience from investors as the company navigates its transition [48][49] - Confidence in future revenue growth driven by diversified digital streams and a large audience base [50] Conclusion - USA TODAY is positioned for significant growth as it continues its digital transformation, with multiple revenue streams and a focus on audience engagement. The company is optimistic about its future prospects, particularly in light of ongoing legal developments and strategic initiatives.

Group 1 - GCI Liberty, Inc. will host a conference call on February 11, 2025, at 11:15 a.m. E.T. to discuss its fourth-quarter results [1] - A press release detailing the financial performance and outlook will be issued before market trading on the same day [1] - The conference call will include a Q&A session for management to address questions regarding GCI Liberty and Liberty Broadband Corporation [1] Group 2 - GCI Liberty, Inc. is comprised of its wholly owned subsidiary GCI, which is Alaska's largest communications provider [4] - GCI serves over 200 communities in Alaska, offering data, voice, and managed services to both consumer and business customers [4] - The company has invested $4.7 billion in its Alaska network and facilities over the past 45 years to enhance connectivity and address the digital divide [4]