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 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 ...

Core Insights - Ekspress Grupp's revenue continued to grow in Q3 2025 and the first nine months, driven by investments in conference business, ticket sales, and digital outdoor screens [1][9] - Digital subscriptions for media companies within the Group saw strong growth, contributing significantly to overall revenue [2][11] Revenue Performance - Q3 2025 revenue increased by EUR 1.1 million (+6%) year-over-year, totaling EUR 17.9 million [1][7] - Revenue for the first nine months of 2025 rose by EUR 3.6 million (+7%) year-over-year, reaching EUR 56.3 million [1][8] - Key growth contributors included the Estonian Training and Conference Centre and UAB Kenton Baltic, along with Delfi Lithuania's AI project [1][9] Digital Revenue - Digital revenue for the first nine months increased by 5% year-over-year, with a total of 245 thousand digital subscriptions by the end of Q3 2025, reflecting a 10% increase in new subscriptions [2][11] - Digital revenue accounted for 85% of total revenue at the end of Q3 2025, slightly down from 86% in the previous year [11][20] Ticket Sales and Outdoor Screens - Revenue from ticket sales platforms grew by 6% in Q3 2025, while outdoor screen revenue increased by 1% [3][20] - The number of outdoor screens expanded to 159, with notable growth in the Latvian market [3] Profitability Metrics - EBITDA for Q3 2025 was EUR 2.4 million, a 21% increase year-over-year, with an EBITDA margin of 13% [4][13] - EBITDA for the first nine months remained stable at EUR 5.5 million, with a margin of 10% [4][13] Net Profit - Consolidated net profit for Q3 2025 was EUR 2.4 million, up from EUR 0.3 million in Q3 2024 [5][14] - The first nine months of 2025 saw a net profit of EUR 1.9 million, significantly higher than EUR 0.1 million in the same period last year [5][14] Cash Position and Liquidity - As of September 30, 2025, the Group had available cash of EUR 9.0 million, up from EUR 5.4 million a year earlier [6][15] - The Group's liquidity remains strong, with a focus on maintaining reserves for potential acquisitions and economic uncertainties [6] Expenses Overview - Operating expenses for Q3 2025 totaled EUR 15.5 million, a 2% increase year-over-year, driven by costs associated with newly acquired businesses [12][20] - For the first nine months, operating expenses rose by 7% to EUR 51.1 million [12][20] Segment Performance - The media segment's revenue for Q3 2025 was EUR 17.8 million, a 6% increase from the previous year, while the first nine months saw a 7% increase to EUR 56.2 million [20][23] - Advertising revenue faced a decline of 2% in Q3 and 5% in the first nine months, indicating pressure on media companies' advertising sales [20][24]