Core Points - Lee Enterprises has postponed its Special Meeting of Stockholders from December 4, 2025, to December 19, 2025, to enhance stockholder engagement and participation [1][2] - The purpose of the Rescheduled Special Meeting remains unchanged, and all proposals for voting will proceed as previously disclosed [3] - The record date for determining stockholders entitled to vote at the Rescheduled Special Meeting remains unchanged, and stockholders who have submitted proxies do not need to take further action unless they wish to change their vote [3] Company Overview - Lee Enterprises is a major subscription and advertising platform, providing local news and information through daily newspapers and nearly 350 weekly and specialty publications across 72 markets in 25 states [4] - The company is committed to delivering valuable, intensely local news and information to the communities it serves, with markets including St. Louis, MO; Buffalo, NY; Omaha, NE; and others [4] - Lee Common Stock is traded on NASDAQ under the symbol LEE [4] Additional Information - Information regarding the Rescheduled Special Meeting, including proposals and voting instructions, can be found in the Definitive Proxy Statement filed with the U.S. Securities and Exchange Commission on November 13, 2025 [5] - Stockholders are encouraged to read the Proxy Statement and any relevant documents filed with the SEC for important information regarding the solicitation [5]

Group 1 - The article does not provide any specific information or data regarding the company or industry [1]

Company Overview - The company serves 72 mid-sized communities across 25 states, with over 633,000 digital-only subscribers[7]. - As of September 28, 2025, the total number of digital and print subscribers reached 889,802, with unique visitors averaging 14,509 monthly[16]. - Approximately 2,500 employees are employed, with a focus on investing in top digital talent to support growth strategies[19]. Revenue Streams - The primary revenue streams include subscriptions, advertising, and digital marketing services, with a focus on omni-channel marketing solutions[12]. - The company is focused on managing declining print revenue and adapting to changes in advertising and subscription demand[25]. Digital Strategy - The company is committed to expanding audiences and deepening engagement through hyper-local content and world-class digital products[9]. - The company has a strong portfolio of digital products, including AI-powered solutions, aimed at enhancing customer engagement and satisfaction[8]. - Future strategies include continuous innovation in digital products and expanding market reach through enhanced marketing solutions[10]. Corporate Governance - The board of directors consists of eight independent members, reflecting strong corporate governance practices[20]. - The company maintains good relationships with newsprint producers, ensuring an adequate supply of newsprint for operations[17].

Financial Data and Key Metrics Changes - Total revenue for fiscal 2025 was $562 million, with 53% derived from digital sources, indicating a significant shift towards digital reliance over legacy print business [4][11] - Digital-only subscription revenue reached $94 million, with a year-over-year growth of 16% on a same-store basis, despite challenges from a cyber incident [4][11] - Adjusted EBITDA showed growth for the second consecutive quarter, reflecting effective cost management and operational execution [6][15] Business Line Data and Key Metrics Changes - The digital marketing services business, Amplified Digital Agency, surpassed $100 million in revenue with a 5% growth on a same-store basis [5][10] - Digital subscription revenue growth was 32% annually over the last three years, significantly outpacing industry peers [8][12] - Total digital revenue for fiscal 2025 was $298 million, representing 53% of total company revenue, highlighting the successful transition to a digital-first model [11][12] Market Data and Key Metrics Changes - Digital revenue growth was 2% on a same-store basis, indicating solid momentum in the digital transformation strategy [10] - The company nearly doubled the number of clients valued at over $1 million annually, showcasing the effectiveness of its innovative solutions [10] - The digital advertising revenue from Amplified Digital Agency contributed $103 million to the total digital advertising revenue of $184 million [10][11] Company Strategy and Development Direction - The company aims to achieve $450 million in digital revenue by fiscal 2030, supported by a three-pillar digital growth strategy [5][8] - There is a focus on diversifying and expanding offerings for advertisers, with a goal of over $250 million in digital advertising revenue by 2030 [19][20] - The company is transitioning towards a predominantly digital model, with a target of 90% digital revenue by fiscal 2030 [12][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to drive sustainable growth and deliver long-term value to shareholders, despite challenges faced in fiscal 2025 [7][15] - The company anticipates a positive lift in digital revenue and margin in 2026 as transformational projects come to fruition [15][17] - The upcoming $50 million common stock rights offering is expected to support digital transformation and deleveraging efforts [21] Other Important Information - The company executed a strategic termination of its fully funded defined benefit pension plan, enhancing balance sheet flexibility [17] - Cash costs decreased by 5% compared to the previous year, finishing at $524 million, reflecting disciplined cost management [16] - The company has identified $25 million of non-core assets for future monetization, which will improve liquidity [17] Q&A Session Summary Question: What was the total debt reduction in the fourth fiscal quarter and the full fiscal year? - The company reduced debt by $121 million since the credit agreement was launched in 2020. In fiscal 2025, excluding increases due to the cyber incident, debt was reduced by approximately $3.5 million [25] Question: No further questions were asked, and the call concluded with closing remarks from management [26]

Financial Data and Key Metrics Changes - Total revenue for fiscal 2025 was $562 million, with 53% derived from digital sources, indicating a significant shift towards digital reliance over legacy print business [4][11] - Digital-only subscription revenue reached $94 million, with a year-over-year growth of 16% on a same-store basis, despite challenges from a cyber incident [4][11] - Adjusted EBITDA showed growth for the second consecutive quarter, reflecting effective cost management and operational execution [6][15] Business Line Data and Key Metrics Changes - The digital marketing services business, Amplified Digital Agency, surpassed $100 million in revenue with a 5% growth on a same-store basis [5][10] - Digital subscription revenue growth was 32% annually over the last three years, significantly outpacing industry peers [8][12] - Total digital revenue for fiscal 2025 was $298 million, representing 53% of total company revenue, highlighting the successful transition to a digital-first model [11][12] Market Data and Key Metrics Changes - Digital revenue growth was 2% on a same-store basis, indicating solid momentum in the digital transformation strategy [10] - The company nearly doubled the number of clients valued at over $1 million annually, showcasing the effectiveness of its innovative solutions [10] - The transition from 21% digital revenue in 2020 to 53% in 2025 marks a critical revenue inflection point for the company [12] Company Strategy and Development Direction - The three-pillar digital growth strategy aims for $450 million in digital revenue by 2030, focusing on digital subscriptions and advertising [5][12] - The company is committed to achieving 90% digital revenue by fiscal year 2030, reducing reliance on print products [12][21] - Investments in content, branding, and consumer marketing are expected to drive digital subscription revenue to $175 million by fiscal 2030 [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to drive sustainable growth and deliver long-term value to shareholders, despite challenges faced in fiscal 2025 [7][15] - The company anticipates adjusted EBITDA growth in mid-single digits for fiscal 2026, supported by ongoing digital transformation efforts [17] - The upcoming $50 million common stock rights offering is expected to enhance balance sheet flexibility and support digital transformation [21] Other Important Information - The company executed a strategic termination of its defined benefit pension plan, improving balance sheet flexibility and eliminating long-term cost uncertainty [17] - The company identified $25 million in additional non-core assets for future monetization, enhancing liquidity [17][21] - The CFO, Tim Millage, will depart in early 2026, with management expressing gratitude for his contributions [22] Q&A Session Summary Question: What was the total debt reduction in the fourth fiscal quarter and the full fiscal year? - The company reduced debt by $121 million since the credit agreement was launched in 2020, with a reduction of approximately $3.5 million in fiscal 2025, excluding increases related to a cyber incident [25] Question: No further questions were asked, and the call concluded. - The call ended with management reiterating their focus on long-term transformation for the benefit of shareholders and stakeholders [26][27]

Financial Data and Key Metrics Changes - Total revenue for fiscal 2025 was $562 million, with 53% derived from digital sources, indicating a significant shift towards digital reliance over legacy print business [4][11] - Digital-only subscription revenue reached $94 million, with a year-over-year growth of 16% on a same-store basis, despite challenges from a cyber incident [4][11] - Adjusted EBITDA showed growth for the second consecutive quarter, reflecting effective cost management and operational execution [6][14] Business Line Data and Key Metrics Changes - The digital marketing services business, Amplified Digital Agency, surpassed $100 million in revenue with a 5% growth on a same-store basis [5][10] - Digital subscription revenue growth was 32% annually over the last three years, significantly outpacing industry peers [8][11] - Digital advertising revenue contributed $184 million, with Amplified Digital Agency accounting for $103 million of this total [10][11] Market Data and Key Metrics Changes - Digital revenue constituted 53% of total company revenue, a notable increase from 21% in 2020, marking a critical revenue inflection point [12][21] - The company aims for $450 million in digital revenue by fiscal 2030, with a long-term goal of achieving 90% digital revenue [12][21] Company Strategy and Development Direction - The company is focused on a three-pillar digital growth strategy, which is expected to drive sustainable growth and long-term shareholder value [5][12] - Investments in local journalism, branding, and consumer marketing are anticipated to enhance digital subscription revenue, targeting $175 million by fiscal 2030 [18][19] - The company plans to leverage advanced data-driven advertising technology and expand its digital audience to boost high-margin digital advertising revenue [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving mid-single-digit adjusted EBITDA growth in fiscal 2026, despite challenges faced in 2025 [17] - The company anticipates a positive lift in digital revenue and margins in 2026 as transformational projects come to fruition [14][17] - The upcoming $50 million common stock rights offering is expected to support digital transformation and deleveraging efforts [21][22] Other Important Information - The company executed $40 million in annualized cost reductions and an additional $10 million entering fiscal 2026, focusing on non-core print operations [16][17] - A strategic termination of the fully funded defined benefit pension plan was announced, enhancing balance sheet flexibility [17] - The company is identifying opportunities to monetize non-core assets, with $9 million in asset sales completed in fiscal 2025 and an additional $25 million identified for future monetization [17] Q&A Session Summary Question: What was the total debt reduction in the fourth fiscal quarter and the full fiscal year? - Since the credit agreement was launched in 2020, the company has reduced debt by $121 million. In fiscal 2025, excluding increases due to the cyber incident, debt was reduced by approximately $3.5 million through operations and asset sales [26]

Revenue Performance - Q4 total operating revenue was $139 million, with total digital revenue at $74 million, representing 53% of total revenue[2] - For the fiscal year 2025, total operating revenue was $562 million, with total digital revenue flat at $298 million[5] - Total Operating Revenue for the three months ended September 28, 2025, was $139.1 million, a decrease of 12.3% compared to $158.6 million for the same period in 2024[15] - Same-store Total Advertising Revenue for the twelve months ended September 29, 2025, was $252.3 million, down 5.5% from $266.9 million in 2024[15] - Digital Advertising Revenue for the three months ended September 28, 2025, was $44.1 million, a decline of 16.0% from $52.5 million in the same period last year[15] - Print Subscription Revenue for the twelve months ended September 29, 2025, decreased to $164.2 million, down 16.9% from $197.6 million in 2024[15] - Total Subscription Revenue for the three months ended September 28, 2025, was $67.0 million, a decrease of 8.5% from $73.0 million in the same period last year[15] Digital Revenue Insights - Digital-only subscription revenue increased by 16% year-over-year, totaling $25 million, with 633,000 digital-only subscribers at the end of the quarter[2] - The company reported Same-store Digital Subscription Revenue of $94.2 million for the twelve months ended September 29, 2025, an increase of 16.2% from $81.0 million in 2024[15] Financial Performance - Adjusted EBITDA for Q4 was $15 million, a decrease of $2 million year-over-year, but an increase of $2 million on a comparable basis[2] - Adjusted EBITDA for FY25 was negatively impacted by a cyber incident, with an estimated impact of approximately $8 million[17] - The company expects mid-single-digit Adjusted EBITDA growth for fiscal year 2026[4] Operating Expenses and Losses - Operating expenses for FY25 totaled $571 million, a 7% decrease compared to the prior year[5] - The company reported a net loss of $36 million for FY25, compared to a net loss of $25.8 million in the previous year[5] Debt and Financial Strategy - The company has $455 million of debt outstanding with favorable financing terms, including a fixed annual interest rate of 9.0%[4] - The company’s debt stands at $576 million under a credit agreement with BH Finance LLC[17] Strategic Changes - The strategic termination of the fully funded benefit pension plan is aimed at improving balance sheet flexibility and reducing long-term volatility[6] Operational Context - The fourth quarter of fiscal 2025 consisted of 13 weeks, compared to 14 weeks in the fourth quarter of fiscal 2024[17] - Cash Costs are defined as compensation, newsprint, ink, and other operating expenses, excluding non-cash operating expenses[17]

Financial Performance - Total revenue for FY25 was $562 million[3], impacted by a cyber incident that reduced revenue by approximately $12 million[4] - Digital revenue accounted for 53% of total revenue in FY25[3] - Adjusted EBITDA for FY25 was $45 million[3], also impacted by the cyber incident which reduced Adjusted EBITDA by approximately $8 million[4] - Q4 2025 total operating revenue was $139 million, a 12% year-over-year decrease, or a 5% decrease on a same-store basis[6] - Q4 2025 total digital revenue was $74 million, a 3% year-over-year decrease[6] - Q4 2025 total print revenue was $65 million, an 8% decrease[6] - Q4 2025 Adjusted EBITDA was $15 million, a 14% increase on a comparable basis[9] - The company has reduced gross debt by $121 million since refinancing in March 2020[40] Digital Growth - Digital subscription revenue grew 16%[3, 11, 22] - The company aims to achieve over $450 million in digital revenue by 2030 through its Three Pillar Digital Growth Strategy[13] - The company expects to surpass 12 million subscribers in 2030[43, 51] - The company is targeting $250 million of digital advertising[46, 51]

Core Insights - Lee Enterprises reported a fourth quarter fiscal 2025 Adjusted EBITDA growth of $2 million year-over-year on a comparable basis, indicating a positive trend in profitability [1][2] - Total Digital Revenue accounted for 53% of total revenue in the quarter, amounting to $74 million, showcasing the company's strong digital presence [1][5] - Digital-only subscription revenue increased by 16% year-over-year, reflecting the effectiveness of the company's digital growth strategy [2][5] Financial Performance - For the fourth quarter ended September 28, 2025, total operating revenue was $139 million, with digital revenue contributing $74 million [5][15] - Operating expenses totaled $142 million, with cash costs at $126 million, both showing a decrease of 13% and 12% respectively compared to the prior year [5][16] - The net loss for the quarter was $6 million, while Adjusted EBITDA was reported at $15 million [5][16] Digital Strategy - Digital-only subscribers reached 633,000 by the end of the quarter, with digital-only subscription revenue totaling $25 million, a 6% increase year-over-year [5][15] - Digital advertising and marketing services revenue represented 74% of total advertising revenue, totaling $44 million [5][15] - The company has seen a 32% annual increase in digital-only subscription revenue over the past three years, indicating strong growth in this segment [5][15] Debt and Cash Flow - The company has $455 million of debt outstanding under a credit agreement with favorable terms, including a fixed annual interest rate of 9.0% [6][9] - Cash on the balance sheet totaled $10 million, resulting in net debt of $445 million after accounting for cash [9][19] - Capital expenditures for the quarter were $1 million, with expectations of up to $10 million in FY26 [9][19] Operational Highlights - The company is executing a strategic termination of its fully funded benefit pension plan, which is expected to improve balance sheet flexibility [9][19] - The fiscal year 2025 results were materially impacted by a cyber incident in February 2025, affecting revenue and Adjusted EBITDA by approximately $12 million and $8 million respectively [19][20]

Group 1 - Wall Street anticipates Zoom Communications Inc (NASDAQ:ZM) to report quarterly earnings of $1.44 per share on revenue of $1.21 billion [2] - Lee Enterprises, Inc. (NYSE:LEE) announced the resignation of CFO Tim Millage, effective February 28, 2026, with shares gaining 1.6% to close at $4.56 [2] - Keysight Technologies Inc (NYSE:KEYS) is expected to post quarterly earnings of $1.83 per share on revenue of $1.38 billion, with shares gaining 1.8% to close at $172.71 [2] - Wrap Technologies Inc (NASDAQ:WRAP) filed for a mixed shelf offering of up to $200 million, with shares gaining 6.6% to close at $2.11 [2] - Agilent Technologies Inc (NYSE:A) is expected to report quarterly earnings of $1.58 per share on revenue of $1.83 billion, with shares gaining 4.3% to close at $151.25 [2]