USA TODAY Co., Inc 8-K, filed Nov 5, 2026

USA TODAY Co., Inc. (TDAY)

8-K 2026-11-05 For: 2026-11-05

Added on November 05, 2026

About this 8-K

USA TODAY Co., Inc filed this 8-K on November 5, 2026.

USA TODAY Co., Inc. reported third-quarter revenue of $519.2 million, down 7.4% year-over-year, implemented a $100 million annualized cost reduction program and has $96.9 million available for opportunistic share repurchases. AI summary

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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		USA TODAY Co., Inc.

Date: November 5, 2026	By:	/s/ Trisha M. Gosser
		Trisha M. Gosser
		Chief Financial Officer (principal financial officer)


In thousands	Third Quarter 2026
Total revenues	$	519,243
Net loss attributable to USA TODAY Co.	(4,605)
Total Adjusted EBITDA(7)	36,602
Adjusted net income attributable to USA TODAY Co.(7)	1,366
Cash provided by operating activities	16,664
Free cash flow(7)	4,340


For investor inquiries, contact:						For media inquiries, contact:
Matt Esposito						Heather Gidaly
Investor Relations						Corporate Communications
703-854-3000						845-304-3282
investors@usatodayco.com						hgidaly@usatodayco.com


Table No. 1
In thousands, except number of shares and par value	September 30, 2026		December 31, 2025
Assets	(Unaudited)
Current assets:
Cash and cash equivalents	$	68,228	$	90,213
Accounts receivable, net of allowance for credit losses of $12,294 and $13,600 as of September 30, 2026 and December 31, 2025, respectively	209,940		223,551
Inventory	14,825		12,888
Prepaid expenses	52,829		45,959
Other current assets	18,221		16,566
Total current assets	364,043		389,177
Property, plant and equipment, net of accumulated depreciation of $386,545 and $368,358 as of September 30, 2026 and December 31, 2025, respectively	160,189		178,461
Operating lease assets	105,211		122,513
Goodwill	531,945		518,762
Intangible assets, net	306,610		337,845
Deferred tax assets	75,111		77,858
Pension and other assets	216,522		212,542
Total assets	$	1,759,631	$	1,837,158

Liabilities and equity
Current liabilities:
Accounts payable and accrued liabilities	$	288,964	$	308,152
Deferred revenue	102,877		105,398
Current portion of long-term debt	70,741		69,315
Operating lease liabilities	29,814		33,435
Other current liabilities	4,329		1,483
Total current liabilities	496,725		517,783
Long-term debt	622,746		645,811
Convertible debt	240,524		239,112
Deferred tax liabilities	12,893		8,142
Pension and other postretirement benefit obligations	32,985		34,170
Long-term operating lease liabilities	125,526		146,421
Other long-term liabilities	81,802		91,107
Total noncurrent liabilities	1,116,476		1,164,763
Total liabilities	1,613,201		1,682,546

Commitments and contingent liabilities
Equity
Preferred stock, $0.01 par value per share, 300,000 shares authorized, none of which were issued and outstanding at September 30, 2026 and December 31, 2025	—		—
Common stock, $0.01 par value per share, 2,000,000,000 shares authorized; 160,032,237 shares issued and 147,837,915 shares outstanding at September 30, 2026; 159,912,152 shares issued and 147,124,756 shares outstanding at December 31, 2025	1,600		1,599
Treasury stock, at cost, 12,194,322 shares and 12,787,396 shares at September 30, 2026 and December 31, 2025, respectively	(24,317)		(23,607)
Additional paid-in capital	1,259,961		1,287,821
Accumulated deficit	(1,027,386)		(1,051,797)
Accumulated other comprehensive loss	(62,937)		(58,905)
Total USA TODAY Co. stockholders' equity	146,921		155,111
Noncontrolling interests	(491)		(499)
Total equity	146,430		154,612
Total liabilities and equity	$	1,759,631	$	1,837,158


Table No. 2	Three months ended September 30,
In thousands, except per share amounts	2026		2025
Digital	$	249,327	$	262,744
Print and commercial	269,916		298,052
Total revenues	519,243		560,796
Operating costs	337,220		352,306
Selling, general and administrative expenses	148,584		153,743
Depreciation and amortization	31,487		43,211
Integration and reorganization costs	18,042		15,708


Gain on sale or disposal of assets, net	(10,341)		(62)
Interest expense	20,799		23,835
Loss on early extinguishment of debt	—		24
Equity income in unconsolidated investees, net	(533)		(549)
Other (income) expense, net	(20,225)		(5,806)
Loss before income taxes	(5,790)		(21,614)
(Benefit) provision for income taxes	(1,177)		17,635
Net loss	(4,613)		(39,249)
Net loss attributable to noncontrolling interests	(8)		—
Net loss attributable to USA TODAY Co.	$	(4,605)	$	(39,249)






Loss per share attributable to USA TODAY Co. - basic	$	(0.03)	$	(0.27)
Loss per share attributable to USA TODAY Co. - diluted	$	(0.03)	$	(0.27)


Table No. 3	Nine months ended September 30,
In thousands	2026		2025
Operating activities
Net income	$	24,419	$	31,816
Adjustments to reconcile net income to operating cash flows:
Depreciation and amortization	93,896		128,489
Share-based compensation expense	7,202		6,838
Non-cash interest expense	4,441		4,567

Gain on sale or disposal of assets, net	(17,891)		(22,326)
Loss on early extinguishment of debt	75		1,481
Asset impairments	—		2,075
Pension and other postretirement benefit obligations	(10,023)		(9,675)
Equity income in unconsolidated investees, net	(1,740)		(1,583)
Gain on remeasurement of previously held equity interest	(16,813)		—
Change in other assets and liabilities, net	(12,268)		(70,656)






Cash provided by operating activities	71,298		71,026
Investing activities

Purchase of property, plant and equipment	(41,250)		(38,901)
Proceeds from sale of real estate and other assets	9,476		51,359
Proceeds from the sale of investments	—		6,161
Change in other investing activities	—		(1,000)
Cash (used for) provided by investing activities	(31,774)		17,619
Financing activities
Payments of deferred financing costs	—		(992)

Borrowings of long-term debt	14,652		15,000

Repayments of long-term debt	(39,396)		(116,393)
Repurchase of convertible debt	—		(14,647)
Payment to former partner	(28,475)		—


Payments of taxes withheld on share-based awards	(7,291)		(3,064)
Changes in other financing activities	(26)		(610)
Cash used for financing activities	(60,536)		(120,706)
Effect of currency exchange rate change on cash	(822)		(1,302)
Decrease in cash, cash equivalents and restricted cash	(21,834)		(33,363)
Cash, cash equivalents and restricted cash at beginning of period	97,812		116,181
Cash, cash equivalents and restricted cash at end of period	$	75,978	$	82,818


Table No. 4	Three months ended September 30, 2026
In thousands	USA TODAY Media			Newsquest			LocaliQ
Segment revenues	$	380,601		$	59,464		$	105,684
Operating costs	253,761			30,333			76,974
Selling, general and administrative expenses	103,558			15,286			21,429
Equity income in unconsolidated investees, net	(533)			—			—
Segment Adjusted EBITDA	$	23,815		$	13,845		$	7,281
Segment Adjusted EBITDA margin(1)	6.3		%	23.3		%	6.9		%


	Three months ended September 30, 2025
In thousands	USA TODAY Media			Newsquest			LocaliQ
Segment revenues	$	417,055		$	61,023		$	114,418
Operating costs	265,874			30,863			84,345
Selling, general and administrative expenses	116,315			15,605			20,293
Equity income in unconsolidated investees, net	(549)			—			—
Segment Adjusted EBITDA	$	35,415		$	14,555		$	9,780
Segment Adjusted EBITDA margin(1)	8.5		%	23.9		%	8.5		%


Table No. 5	Three months ended September 30,
In thousands	2026			2025
Net loss attributable to USA TODAY Co.	$	(4,605)		$	(39,249)
(Benefit) provision for income taxes	(1,177)			17,635
Net loss attributable to noncontrolling interests	(8)			—
Interest expense	20,799			23,835
Loss on early extinguishment of debt	—			24
Depreciation and amortization	31,487			43,211
Integration and reorganization costs(1)	18,042			15,708


Gain on sale or disposal of assets, net	(10,341)			(62)
Share-based compensation	2,630			1,877
Other (income) expense, net(2)	(20,225)			(5,806)
Total Adjusted EBITDA	$	36,602		$	57,173
Net loss attributable to USA TODAY Co. margin	(0.9)		%	(7.0)		%
Total Adjusted EBITDA margin(3)	7.0		%	10.2		%


Table No. 6	Three months ended September 30,
In thousands	2026		2025
Net loss attributable to USA TODAY Co.	$	(4,605)	$	(39,249)
Loss on early extinguishment of debt	—		24
Integration and reorganization costs	18,042		15,708
Third-party debt expenses and acquisition costs(1)	60		1,026


Gain on sale or disposal of assets, net	(10,341)		(62)
Other items	140		(5,684)
Subtotal	3,296		(28,237)
Tax impact of above items	(1,930)		(2,784)
Adjusted net income (loss) attributable to USA TODAY Co.	$	1,366	$	(31,021)


Table No. 7	Three months ended September 30,
In thousands	2026		2025
Cash provided by operating activities	$	16,664	$	15,163
Capital expenditures	(12,560)		(10,297)
Third-party debt expenses	236		14
Free cash flow(1)	$	4,340	$	4,880


Table No. 8	Three months ended September 30,
In thousands	2026		2025		% Change
Total revenues	$	519,243	$	560,796	(7.4)	%

Currency impact	(174)		—
Exited operations(1)	—		(9,635)
Same store total revenues	$	519,069	$	551,161	(5.8)	%


Table No. 9	Three months ended September 30,
In thousands, except ARPU	2026		2025		Change		% Change
Digital-only ARPU:
USA TODAY Media	$	11.45	$	9.03	$	2.42	27	%
Newsquest	$	5.76	$	6.08	$	(0.32)	(5)	%
USA TODAY Co.	$	10.82	$	8.80	$	2.02	23	%


Table No. 10	Three months ended September 30,
In thousands, except ARPU	2026		2025		Change		% Change
LocaliQ Core platform:
Core platform revenues	$	105,362	$	113,959	$	(8,597)	(8)	%
Core platform ARPU	$	2,996	$	2,828	$	168	6	%
Core platform average customer count	11.7		13.4		(1.7)		(13)	%


Table No. 11	As of September 30,
In thousands	2026	2025	% Change
Digital-only paid subscriptions:
USA TODAY Media	1,236	1,452	(15)	%
Newsquest	160	139	15	%
Total USA TODAY Co.	1,396	1,591	(12)	%