USA TODAY Co., Inc. (TDAY) FY2025 10-K Annual Report
USA TODAY Co., Inc. (TDAY) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
USA TODAY Co., Inc. FY2025 10-K Analysis
Business Overview
- • Core business model: diversified media company with national/local journalism and digital marketing solutions
- • New corporate name USA TODAY Co., Inc. adopted November 2025, segment renaming to USA TODAY Media and LocaliQ
- • Strategic focus on digital-first growth, digital revenue now 46% of total or $1.1 billion in 2025
- • Paid digital-only subscriptions reached ~1.5 million, surpassing print subscriptions as of December 31, 2025
- • Average 186 million unique visitors in 2025 across USA TODAY Media and Newsquest segments
Management Discussion & Analysis
- • Revenue mix shift: Digital revenues 46% of total in 2025 vs 44% in 2024, driven by USA TODAY Media, Newsquest, and LocaliQ
- • Operating cash flow $114.4M with $135.5M long-term debt repaid in 2025
- • Best segment: USA TODAY Media with largest audience reach and digital growth; worst segment not explicitly quantified
- • Capital allocation includes $15M incremental debt for Detroit News acquisition under 2029 Term Loan Facility
- • Outlook risks: Advertising demand pressure from macroeconomic uncertainty, rising newsprint costs, AI ecosystem changes, platform dependency on tech giants
Risk Factors
- • Google litigation expert fees $4.8M in 2025, down 63% YoY, ongoing regulatory/legal risk tied to major tech adversary
- • Foreign currency risk impacting revenues notably via Newsquest U.K. operations and others; 2025 currency fluctuations positively affected results
- • Dependence on third-party online media for LocaliQ segment creates supply chain vulnerability affecting digital marketing services revenue
- • Declining print advertising and circulation revenues ($156M decline in 2025) expose vulnerability to digital competitors and shifting market dynamics
- • $900M 2029 Term Loan Facility refinancing reduces debt burden, but interest expense still high at $97.2M in 2025, indicating financial leverage risk
USA TODAY Co., Inc. FY2025 Key Financial MetricsXBRL
Revenue
$2.3B
▼ -8.3% YoY
Net Income
$2M
▲ +106.6% YoY
Net Margin
0.1%
▲ +113bp YoY
ROE
1.1%
▲ +1834bp YoY
Total Assets
$1.8B
▼ -9.9% YoY
EPS (Diluted)
$0.01
▲ +105.6% YoY
Operating Cash Flow
$114M
▲ +14.0% YoY
Source: XBRL data from USA TODAY Co., Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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