Usa Today Co., Inc. · NYSE:TDAY
Usa Today — Q1 2026 Earnings Presentation
20 slides from Usa Today's earnings presentation, Apr 30, 2026
Slide 1: Q1 2026 Earnings
Q1 2026 Earnings April 30, 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 Q1 2026 Highlights + Total Adjusted EBITDA(1) growth of 45% year-over-year + Total Adjusted EBITDA margin(1) of 13.3% expanded 450 basis points year- over-year + Net income increased $27.2 million year-over-year + Same-stor
Slide 6: Key Stats and Value Drivers
Key Stats and Value Drivers Executed on Growth Segments and Investment Strategy in Q1 2026 Diversified Digital Balanced Capital Expanded Reach Revenues Structure 180M $261.9M 2.3x Average Monthly Unique Total Digital Revenues First Lien Net Leverage(4) Visitors(1) 4.6% growth Year-over-Year Down 12%
Slide 7: Diversified Digital Revenue
Diversified Digital Revenue(1) Revenue Expected to Continue to be Increasingly Digital Q1 2026 % Q1 2026 Q1 2026 Total Revenue Mix of Total Digital Advertising $80.9M 15% Digital Marketing Services $101.3M 18% 48% 52% Digital-only Subscription $45.9M 8% Digital Print and commercial Digital Other $33
Slide 8: Q1 2026 Results and Non-GAAP Highlights
Q1 2026 Results and Non-GAAP Highlights(1) Revenues Total Adjusted EBITDA(1) ◦ $548.5M Total Revenues ◦ $73.1M Total Adjusted EBITDA(1) ◦ Same store revenues(1) improved to down 1.8%, up 210 • Total Adjusted EBITDA(1) increased $22.6 million, or basis points over Q4 2025 44.7%, compared to Q1 2025 ◦
Slide 9: Business Outlook
Business Outlook(1) Following Q1 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: Q1 2026 Balance Sheet and Liquidity
Q1 2026 Balance Sheet and Liquidity Significant Debt Repayment Q1 2026 $1.76B $1.58B + Cash and cash equivalents of $85.2 million at the end of Q1 $1.37B 2026 $1.27B $1.13B $1.1B + Total debt principal outstanding at March 31, 2026 of $977.3M $988.3M $988.3 million ◦ Total net debt outstanding(1) of
Slide 11: Appendix
Appendix 11
Slide 12: Diversified Revenues
Diversified Revenues(1) Full Year Full Year Full Year 2024 Full Year 2025 Q1 2026 ($ in millions) 2024 % of Total Q1 2025 Q2 2025 Q3 2025 Q4 2025 2025 % of Total Q1 2026 % of Total Digital advertising $346.4 13.8% $83.4 $87.9 $87.2 $94.4 $352.8 15.3% $80.9 14.7% Digital marketing services $476.0 19.
Slide 13: Key Performance Indicators
Key Performance Indicators A key performance indicator ("KPI") is generally defined as a quantifiable measurement or metric used to gauge performance, specifically to help determine strategic, financial, and operational achievements, especially compared to those of similar businesses. We define Digi
Slide 14: Debt and Leverage
Debt and Leverage Principal balance as of ($ in millions) Stated interest rate March 31, 2026 (1) 2029 Term Loan Facility 8.2% $740.5 2031 Notes 6.0% $223.7 2027 Notes 6.0% $24.1 Total Debt Outstanding 7.61% Blended Rate $988.3 Q1 2026 LTM Total Adjusted EBITDA(2) $285.6 Cash and cash equivalents $8
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 March 31, 2026 USA TODAY (in thousands, except margin) Media Newsquest LocaliQ Segment revenues $ 416,111 $ 59,776 $ 99,684 Operating costs 249,012 29,827 72,764 Selling, general and administrative expenses 108,292 15,089 20,168 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 March 31, (in thousands, except margin) 2026 2025 Net income (lo
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 March 31, 2026 (in thousands) Net income attributable to USA
Slide 19: Non-GAAP Financial Information
Non-GAAP Financial Information(1) 2026 and 2025 Same Store Total revenues Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q1 2026 Same Store Year-Over-Year Total revenues (7.7)% (6.4)% (6.8)% (3.9)% (6.2)% (1.8)% 3 months ended 3 months ended $ % Year ended Year ended $ % (in thousands) March 31, 2026 March
Slide 20: Non-GAAP Financial Information
Non-GAAP Financial Information(1) 2026 and 2025 Same Store Digital revenues Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q1 2026 Same Store Year-Over-Year Digital revenues (3.8)% (2.8)% (4.1)% —% (2.7)% 5.2% Year ended Year ended $ % Year ended Year ended $ % (in thousands) March 31, 2026 March 31, 2025