Usa Today Co., Inc. · NYSE:TDAY
Usa Today — Q2 2026 Earnings Presentation
20 slides from Usa Today's earnings presentation, Aug 6, 2026
Slide 1: Q2 2026 Earnings
Q2 2026 Earnings August 6, 2026 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." USA TODAY Co., Inc. is referred to in this Pr
Slide 3: Who We Are
WHO WE ARE A LEGACY ALWAYS IN MOTION. Established Heritage USA TODAY, founded in 1982, is renowned as a disruptive brand. The cornerstone of the company’s newsroom network, the flagship masthead connects our national footprint with the scale of local markets across the country that share trusted rep
Slide 4: USA TODAY Co. is a diversified media company with expansive reach
USA TODAY Co. is a diversified media company with expansive reach at the national and local level dedicated to empowering and enriching communities. Our mission is to inspire, inform, and connect audiences. As a media and digital marketing solutions company we are focused on sustainable growth. Our
Slide 5: Key Operating Pillars
Key Operating Pillars Strong Focus on Maximizing Long-term Stockholder Value Q2 2026 Highlights + Free cash flow(1) growth of 11.2% year-over-year + Cash provided by operating activities increased 8.6% year-over-year + Second consecutive quarter of positive net income + New high in digital-only ARPU
Slide 6: Key Stats and Value Drivers
Key Stats and Value Drivers Executed on Growth Segments and Investment Strategy in Q2 2026 Diversified Digital Balanced Capital Expanded Reach Revenues Structure 158M $254.3M 2.3x Average Monthly Unique Total Digital Revenues First Lien Net Leverage(4) Visitors(1) Down 14% Year-over-Year 1.4M 47% $8
Slide 7: Diversified Digital Revenue
Diversified Digital Revenue(1) Revenue Expected to Continue to be Increasingly Digital Q2 2026 % Q2 2026 Q2 2026 Total Revenue Mix of Total Digital Advertising $79.8M 15% Digital Marketing Services $108.5M 20% 47% 53% Digital-only Subscription $45.6M 9% Digital Print and commercial Digital Other $20
Slide 8: Q2 2026 Results and Non-GAAP Highlights
Q2 2026 Results and Non-GAAP Highlights(1) Revenues Total Adjusted EBITDA(1) ◦ $536.3M Total Revenues ◦ $56.9M Total Adjusted EBITDA(1) • Same store revenues(1) down 6.1% compared to Q2 2025 • Total Adjusted EBITDA(1) decreased 11.4%, compared to Q2 2025 ◦ $254.3M Total Digital Revenues • 47.4% of t
Slide 9: Business Outlook
Business Outlook(1) Following Q2 2026 Results, the Company Reiterates its Full Year Outlook Expected Full Year 2026 Business Outlook(1) Flat to down in the low single digits on a same-store basis(2) versus the prior year Total Revenues Growth in total digital revenues on a same-store basis(2) versus
Slide 10: Q2 2026 Balance Sheet and Liquidity
Q2 2026 Balance Sheet and Liquidity Significant Debt Repayment Q2 2026 $1.76B $1.58B + Cash and cash equivalents of $86.7 million at the end of Q2 $1.37B 2026 $1.27B $1.13B $1.1B + Total debt principal outstanding at June 30, 2026 of $977M $988M $971M $970.5 million ◦ Total net debt outstanding(1) o
Slide 11: Appendix
Appendix 11
Slide 12: Diversified Revenues
Diversified Revenues(1) FY 2024 FY 2025 Q2 2026 FY % of FY % of % of ($ in millions) 2024 Total Q1 2025 Q2 2025 Q3 2025 Q4 2025 2025 Total Q1 2026 Q2 2026 Total Digital advertising $346.4 13.8% $83.4 $87.9 $87.2 $94.4 $352.8 15.3% $80.9 $79.8 14.9% Digital marketing services $476.0 19.0% $108.8 $117
Slide 13: Key Performance Indicators
Key Performance Indicators A key performance indicator ("KPI") is generally defined as a quantifiable measurement or metric used to gauge performance, specifically to help determine strategic, financial, and operational achievements, especially compared to those of similar businesses. We define Digi
Slide 14: Debt and Leverage
Debt and Leverage Principal balance as of ($ in millions) Stated interest rate June 30, 2026 (1) 2029 Term Loan Facility 8.2% $722.7 2031 Notes 6.0% $223.7 2027 Notes 6.0% $24.1 Total Debt Outstanding 7.60% Blended Rate $970.5 Q2 2026 LTM Total Adjusted EBITDA(2) $278.3 Cash and cash equivalents $86
Slide 15: 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 16: Non-GAAP Financial Information
Non-GAAP Financial Information Segment Information Three months ended June 30, 2026 USA TODAY (in thousands, except margin) Media Newsquest LocaliQ Segment revenues $ 397,724 $ 59,249 $ 106,631 Operating costs 248,705 30,075 73,654 Selling, general and administrative expenses 107,528 14,855 19,786 E
Slide 17: Non-GAAP Financial Information
Non-GAAP Financial Information(1) Reconciliation of Net income (loss) attributable to USA TODAY Co. to Total Adjusted EBITDA and Net income (loss) attributable to USA TODAY Co. margin and Total Adjusted EBITDA margin Three months ended June 30, (in thousands, except margin) 2026 2025 Net income attr
Slide 18: Non-GAAP Financial Information
Non-GAAP Financial Information(1) Reconciliation of Net income (loss) attributable to USA TODAY Co. to Adjusted Net income (loss) attributable to USA TODAY Co. and Cash provided by operating activities to Free cash flow Three months ended June 30, 2026 (in thousands) Net income attributable to USA T
Slide 19: Non-GAAP Financial Information
Non-GAAP Financial Information(1) 2026 and 2025 Same Store Total revenues Q2 2025 Q3 2025 Q4 2025 FY 2025 Q1 2026 Q2 2026 Same Store Year-Over-Year Total revenues (6.4)% (6.8)% (3.9)% (6.2)% (1.8)% (6.1)% 3 months ended 3 months ended $ % 3 months ended 3 months ended $ % (in thousands) June 30, 202
Slide 20: Non-GAAP Financial Information
Non-GAAP Financial Information(1) 2026 and 2025 Same Store Digital revenues Q2 2025 Q3 2025 Q4 2025 FY 2025 Q1 2026 Q2 2026 Same Store Year-Over-Year Digital revenues (2.8)% (4.1)% —% (2.7)% 5.2% (3.6)% 3 months ended 3 months ended $ % 3 months ended 3 months ended $ % (in thousands) June 30, 2026