Short answer
USA TODAY Co., Inc. (TDAY) filed its fiscal 2025 10-K annual report with the SEC on Feb 26, 2026. It reported revenue of $2.3B (−8.3% year over year) and net income of $2M.
- Top risk flagged: Google litigation expert fees $4.8M in 2025, down 63% YoY, ongoing regulatory/legal risk tied to major tech adversary
FY2025 key financial metrics · XBRL
- Revenue
- $2.3B
- −8.3% YoY
- Net income
- $2M
- +106.6% YoY
- EPS (diluted)
- $0.01
- +105.6% YoY
- ROE
- 1.1%
- +18.3 pp YoY
- Operating cash flow
- $114M
- +14.0% YoY
Source: XBRL data from the USA TODAY Co., Inc. (TDAY) FY2025 10-K on SEC EDGAR. USD.
USA TODAY Co., Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
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
Generated from the filing text; verify against the original. How to read a 10-K
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