Gannett(US:GCI)2025-10-30 12:04Financial Performance - Total revenues for Q3 2025 were $560.8 million, a decrease of 8.4% year-over-year; same store revenues decreased by 6.8%[6] - Total revenues for Q3 2025 decreased to $560.8 million, down 8.4% from $612.4 million in Q3 2024[17] - Same store total revenues decreased by 6.8% to $556,017,000 in Q3 2025 from $596,409,000 in Q3 2024[30] - Net loss attributable to Gannett was $39.2 million, with total Adjusted EBITDA of $57.2 million[9] - Net loss attributable to Gannett for Q3 2025 was $39.2 million, compared to a net loss of $19.7 million in Q3 2024[17] - Total Adjusted EBITDA for Q3 2025 was $57,173,000, a decrease from $62,879,000 in Q3 2024, reflecting a margin of 10.2% compared to 10.3% in the previous year[27] - Adjusted net loss attributable to Gannett for Q3 2025 was $31,021,000, significantly higher than the loss of $6,054,000 in Q3 2024[28] - Free cash flow for Q3 2025 was $4,880,000, down from $19,762,000 in Q3 2024, impacted by $18.9 million in interest paid[29] Digital Revenue - Digital revenues totaled $262.7 million, representing 46.9% of total revenues[6] - Digital segment revenues were $262.7 million, a decline of 5.3% compared to $277.4 million in the same period last year[17] - The company expects total digital revenues to decline in the low single digits on a same store basis for the full year 2025, but to exceed 50% of total revenues in 2026[11] - Fourth quarter total digital revenues are anticipated to grow in the low single digits on a same store basis[11] - Digital-only average revenue per user (ARPU) increased by 10% to $9.03 in Q3 2025 from $8.24 in Q3 2024[34] - Domestic Gannett Media digital-only paid subscriptions fell by 26% to 1,452,000 in Q3 2025 from 1,953,000 in Q3 2024[34] Cash Flow and Liquidity - Cash provided by operating activities was $15.2 million, and free cash flow was $4.9 million[6] - Cash provided by operating activities for the nine months ended September 30, 2025, was $71.0 million, a decrease from $91.3 million in the same period of 2024[18] - The company reported a decrease in cash and cash equivalents to $75.2 million as of September 30, 2025, from $106.3 million at the end of 2024[16] - Cash and cash equivalents are expected to reach approximately $100.0 million by year-end 2025[11] Debt and Liabilities - The company achieved a significant milestone with total debt falling below $1.0 billion, totaling $996.4 million as of September 30, 2025[3][11] - Total liabilities decreased to $1.73 billion, down from $1.89 billion at the end of 2024[16] - Long-term debt decreased to $663.9 million as of September 30, 2025, down from $755.8 million at the end of 2024[16] Operational Metrics - Average monthly unique visitors reached 187 million, with 128 million from the U.S. media network and 59 million from U.K. digital properties[5] - Print and commercial revenues fell to $298.1 million, down 11.1% from $335.1 million in Q3 2024[17] - Core platform revenues decreased by 4% to $113,959,000 in Q3 2025 from $119,158,000 in Q3 2024[34] - Integration and reorganization costs for Q3 2025 were $15,708,000, slightly down from $17,307,000 in Q3 2024[27] Strategic Initiatives - Gannett announced a new AI licensing agreement with Microsoft for the Publisher Content Marketplace[3] - The outlook for 2025 includes non-GAAP measures such as Same store revenues and Total Adjusted EBITDA, factoring in the sale of the Austin-American Statesman[26]