Usa Today Co., Inc. · NYSE:TDAY
Usa Today — Gannett — Citi Global Technology Conference 2023
15 slides from Usa Today's conference presentation, Sep 6, 2023
Slide 1: Citi Global Technology Conference
GANNETT Citi Global Technology Conference September 6, 2023
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: The Path Forward
Stabilize revenue trends and reach inflection point in 2024 Accelerate digital growth Generate strong Adjusted EBITDA and Free Cash Flow growth Strengthen the balance sheet gaene The Path Forward Focused on delivering long-term stockholder value ~ Strategic initiatives continue to play a crucial rol
Slide 4: Stabilize Revenue Trends and Reach Inflection Point in 24
1. Stabilize Revenue Trends and Reach Inflection Point in 2024 $1.0+ Billion in LTM Digital Revenues and Approaching 40% of Total Operating Revenues $748.7M 717.9M $730.7M $ $668.9M $672.4M 35.0% 35.7% 36.8% 37.0% 39.0% 2) USA TODAY Book Club discussion with author: 'A Po... 9 a Watch later Share Q2
Slide 5: Accelerate Digital Growth
eRe Accelerate Digital Growth Continued Execution on Growth Segments to Drive Digital Transformation Drive Digital Subscription Drive Digital Marketing Growth Solutions (DMS) Growth $143.7M $476.8M Digital-only Subscription LTM DMS Segment LTM Revenues as of Revenues as of Q2 2023 Q2 2023 $6.35 $59.
Slide 6: Generate Strong Adjusted EBITDA and Free Cash Flow Growth
Generate Strong Adjusted EBITDA and Free Cash Flow Growth” Improvement in Key Financial Metrics Signals Positive Momentum Adjusted EBITDA Free Cash Flow $38.4M scm a | ~Tg1.eM = -$2.1M Q2 22 Q3 22 Q4 22 Q123 Q2 23 mmm Adjusted EBITDA —Adjusted EBITDA Margin ™ Free Cash Flow Q3 22 Q4 22 Q123 Q2 23 1.
Slide 7: Strengthen the Balance Sheet
Strengthen the Balance Sheet Commitment to Deleveraging Significant Debt Repayment First Lien Net Leverage” $1,759M $1,575M 1,369M 2.68x $1,369M_ $1,272M 2.31x _2-50x 2.59x 2.26x i - / YE 2019 YE 2020 YE 2021 YE 2022 Q222 Q3 22 Q422 Q123 Q223 FY 23 (Est.)” ™ 2024 Notes 2027 Notes” ™First Lien Net Le
Slide 8: Appendix
Appendix
Slide 9: Non-GAAP Reconciliation
Non-GAAP Reconciliation The Company uses non-GAAP financial performance and liquidity measures to supplement the financial information presentedon a U.S. GAAP basis. These non-GAAP financial measures, which may not be comparable to similarly titled measures reportedby other companies, should not be
Slide 10: 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 11: Gannett Same Store Non-GAAP Revenues Reconciliation
1 ation™ Gannett Same Store Non-GAAP Revenues Recon Total Digital Revenues 3 months ended 3 months ended $ a June 30, 2023 June 30, 2022 Variance Variance (in thousands) Total Digital Revenues $262,103 $261,768 $355 0.1% Acquired revenues - - Currency impact 714 - Exited operations - (928) Same Stor
Slide 12: Gannett Non-GAAP Reconciliation
Gannett Non-GAAP Reconciliation” Total Company Adjusted EBITDA 5 3 months ended 5 3 months ended i 3 months ended (oeeray) June 30, 2023 (ETC) March 31, 2023 Ceara) December 31, 2022 Net loss attributable to Gannett ($12,677) Net income attributable to Gannett $10,344 Net income attributable to Gann
Slide 13: Gannett Non-GAAP Reconciliation
Gannett Non-GAAP Reconciliation” Total Company Adjusted EBITDA tn ehernd Ae intone —<— Net loss attributable to Gannett ($54,114) RE ESe EES eOCITIED ($53,688) Provision for income taxes 18,098 Provision for income taxes 22,158 Interest expense 27,750 Interest expense 26,084 Gain on early extinguish
Slide 14: Gannett Non-GAAP Reconciliation
Gannett Non-GAAP Reconciliation™ Digital Marketing Solutions Segment LTM Adjusted EBITDA Digital Marketing Solutions Segment (in thousands) LTM ended Net income attributable to Gannett $32,252 Depreciation and amortization 24,931 Integration and reorganization costs 636 Loss on sale or disposal of a
Slide 15: Gannett Non-GAAP Reconciliation
Gannett Non-GAAP Reconciliation” Free Cash Flow 3 months ended (in thousand: June 30: 2023 (in thousand: 3 months ended September 30, 2023 Cash provided by operating activities (GAAP basis) $46,068 Cash provided by operating activities (GAAP basis) $31,294 Capital expenditures (7,650) Capital expend