Usa Today Co., Inc. · NYSE:TDAY
Usa Today — Gannett — Q2 2025 Earnings Presentation
25 slides from Usa Today's earnings presentation, Jul 31, 2025
Slide 1: Q2 2025 Earnings
Q2 2025 Earnings July 31, 2025 1
Slide 2: Disclaimer and Notes
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.” Gannett Co., Inc. is referred to in this Pres
Slide 3: Gannett is a diversified media company with expansive reach
Gannett is a diversified media company with expansive reach at the national and local level dedicated to empowering and enriching communities. We seek to inspire, inform, and connect audiences as a sustainable, growth- focused media and digital marketing solutions company. Our strategy prioritizes m
Slide 4: Key Operating Pillars
Key Operating Pillars Strong Focus on Maximizing Long-term Shareholder Value Q2 2025 Highlights (1) Expand reach and engagement + Sequential improvement in same-store revenue trends 1 with our customer segments + Digital advertising growth improved to +4% year-over- Foundation year for ongoing growt
Slide 5: Key Stats and Value Drivers
Key Stats and Value Drivers Executed on Growth Segments and Investment Strategy in Q2 2025 Diversified Digital Expanded Reach Balanced Capital Structure Revenues 181M $265.4M $23.4M (1) Average Monthly Unique Visitors Total Digital Revenues Total Debt Paydown ~$100M Year-to-Date 1.72M 45% Digital Re
Slide 6: Diversified Digital Revenue
Diversified Digital Revenue Revenue Expected to Continue to be Increasingly Digital Q2 2025 Q2 2025 Q2 2025 Total Revenue Mix % of Total Digital Advertising $87.9M 15% Digital Marketing Services $117.9M 20% 45% 55% Digital-only Subscription $42.7M 7% Digital Print and commercial Digital Other $17.0M
Slide 7: Q2 2025 Results and Non-GAAP Highlights
(1) Q2 2025 Results and Non-GAAP Highlights (1) Revenues Total Adjusted EBITDA ◦ $584.9M Total Revenues ◦ $64.2M Total Adjusted EBITDA(1) (1) (1) ◦ Same store revenues trends saw sequential improvement of ◦ Total Adjusted EBITDA increased $13.7 million, or 27.2%, 130 basis points compared to Q1 2025
Slide 8: Business Outlook
(1) Business Outlook The Company Updates its Fiscal Year 2025 Outlook (2) Expected 2nd Half 2025 Business Outlook Expected Full Year 2025 Business Outlook Total Digital (3) Flat on a same store basis versus the prior year (3) Grow approximately 3%-5% on a same store basis Revenues expected to make u
Slide 9: Key Operating Pillars
Key Operating Pillars Second Quarter 2025 Update 9
Slide 10: Pillar One: Expand Reach and Engagement with our Customer Segments
Pillar One: Expand Reach and Engagement with our Customer Segments Q2 2025 Metrics Domestic Average Monthly Page Views 1.29B 1.27B 1.22B 1.12B 1.12B 1.14B Total Digital Audience 181M Average Monthly Unique Visitors (1) Q1 24 Q2 24 Digital Advertising Revenues Year-over-Year Growth Q3 24 Q4 24 Q1 25
Slide 11: Pillar Two: Diversify Digital Revenue
Pillar Two: Diversify Digital Revenue Revenue Expected to Continue to be Increasingly Digital Total Digital Digital Marketing Digital-only Digital Advertising Digital Other Revenues Services Subscription $265.4M $87.9M $117.9M $42.7M $17.0M $265.4M $87.9M 20% of Total $42.7M 7% of Total $17.0M 3% of
Slide 12: Pillar Three: Strengthen Capital Structure
Pillar Three: Strengthen Capital Structure Q2 2025 Balance Sheet and Liquidity Significant Debt Repayment Q2 2025 $1,759M $1,575M + Cash and cash equivalents of $88.5 million at the end of Q2 2025 $1,369M $1,272M + Total debt principal outstanding at June 30, 2025 of $1,014.9 million $1,131M $1,112M
Slide 13: Digital Marketing Solutions
Digital Marketing Solutions Second Quarter 2025 Update 13
Slide 14: Digital Marketing Solutions: Drive Digital Revenue Growth
Digital Marketing Solutions: Drive Digital Revenue Growth Digital Marketing Solutions – Dedicated to Helping Local Businesses Succeed Q2 2025 Results $116.9M (1) Core Platform Revenues +8.1% sequential growth $2,830 (1) Core Platform ARPU +5.1% sequential growth 13.8K (1) Core Platform Average Custo
Slide 15: Digital Marketing Solutions: Drive DMS Growth
Digital Marketing Solutions: Drive DMS Growth Digital Marketing Solutions - Core Platform (1) (1) Revenues (M) Average Customer Count (K) $122.8 $119.2 $116.9 $116.2 14.7 $108.2 14.3 13.9 13.8 13.4 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 (1) (2) ARPU Customer Budget Retention $2,
Slide 16: Appendix
Appendix 16
Slide 17: Gannett Diversified Revenues
Gannett Diversified Revenues(1) Full Year Full Year Full Year Full Year Q2 2025 2023 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 2024 2024 Q1 2025 Q2 2025 % of Total ($ in millions) % of Total % of Total Digital advertising $333.6 12.5% $84.5 $84.5 $84.7 $92.7 $346.4 13.8% $83.4 $87.9 15.0% Digital marketi
Slide 18: Debt and Leverage Overview
Debt and Leverage Overview Effective interest rate Principal balance as of June 30, 2025 ($ in millions) (1) 2029 Term Loan Facility 10.1% $767.1 2031 Notes 6.6% $223.7 2027 Notes 10.5% $24.1 Total Debt Outstanding 9.31% Blended Rate $1,014.9 (2) Q2 2025 LTM Total Adjusted EBITDA $255.8 Cash and cas
Slide 19: Segment Information
Segment Information Three months ended June 30, 2025 Domestic Digital Gannett Marketing (in thousands) Media Newsquest Solutions Segment revenues $439,299 $61,318 $117,478 Operating costs 274,931 30,941 85,118 Selling, general and administrative expenses 121,983 15,483 20,862 Equity income in uncons
Slide 20: Non-GAAP Measures
Non-GAAP Measures The Company uses non-GAAP financial performance and liquidity measures to supplement the financial information presented on a U.S. generally accepted accounting principles ("U.S. GAAP") basis. We define our non-GAAP financial performance and liquidity measures as follows: • Total A
Slide 21: Key Performance Indicators
Key Performance Indicators A key performance indicator ("KPI") is generally defined as a quantifiable measurement or metric used to gauge performance, specifically to help determine strategic, financial, and operational achievements, especially compared to those of similar businesses. We define Digi
Slide 22: Gannett Non-GAAP Reconciliation
(1) Gannett Non-GAAP Reconciliation Total Adjusted EBITDA, Net Income (Loss) Attributable to Gannett, Net Income (Loss) Attributable to Gannett Margin and Total Adjusted EBITDA Margin Three months ended June 30, (in thousands) 2025 2024 Domestic Gannett Media $ 43,224 $ 52,898 Newsquest 14,894 14,13
Slide 23: Gannett Non-GAAP Reconciliation
(1) Gannett Non-GAAP Reconciliation Adjusted net income (loss) attributable to Gannett and Free cash flow 3 months ended (in thousands) June 30, 2025 Net income attributable to Gannett $78,391 Loss on early extinguishment of debt 183 Integration and reorganization costs 12,318 Third-party debt expen
Slide 24: Gannett Same Store Non-GAAP Revenues Metrics and Reconciliations
(1) Gannett Same Store Non-GAAP Revenues Metrics and Reconciliations 2025 and 2024 Same Store Year-over-Year Total revenues Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Same Store Year-Over-Year Total revenues (4.6)% (5.3)% (5.5)% (5.1)% (7.7)% (6.4)% 3 months ended 3 months ended 3 months ended
Slide 25: Gannett Same Store Non-GAAP Revenues Metrics and Reconciliations
(1) Gannett Same Store Non-GAAP Revenues Metrics and Reconciliations 2025 and 2024 Same Store Year-over-Year Digital revenues Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Same Store Year-Over-Year Digital revenues 6.2% 5.8% 3.4% 5.8% (3.8)% (2.8)% 3 months ended 3 months ended 3 months ended 3 mo