| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 536.34 | 2.2% | 8.3% |
| Total Income | 536.34 | 2.2% | 8.3% |
| Expenditure | 521.89 | 0.8% | 12.1% |
| PBT | 14.46 | 52.9% | 259.4% |
| Net Profit | 9.13 | 54.1% | 88.3% |
| OPM | — | ||
| NPM | 1.70% | 1.93pp | 11.70pp |
| EPS | 0.06 | 57.1% | 88.9% |
USA TODAY Co. Reports Q2 2026 Results, Reaffirms Full-Year Outlook
06 Aug 2026 · 6 Aug, 5:38 pm
Summary
USA TODAY Co., Inc. announced its second quarter 2026 financial results, reporting total revenues of $536.3 million, an 8.3% decrease year-over-year. The company achieved net income of $9.1 million, its second consecutive quarter of profitability, and generated $19.6 million in free cash flow, up 11% year-over-year. Management reiterated its full-year 2026 outlook, anticipating stable to slightly declining same-store revenues while expecting growth in digital revenues and overall Adjusted EBITDA.
Key Highlights
- 1
Total revenues for the second quarter of 2026 were $536.3 million, a decrease of 8.3% year-over-year.
- 2
Net income attributable to USA TODAY Co. was $9.1 million, marking the second consecutive quarter of positive net income.
- 3
Total Adjusted EBITDA was $56.9 million for the second quarter of 2026.
- 4
Free cash flow for the second quarter of 2026 was $19.6 million, an increase of approximately 11% year-over-year.
- 5
Digital-only subscription revenues grew year-over-year for the second consecutive quarter, reaching $45.6 million.
- 6
The Company reiterated its full-year 2026 outlook, expecting total revenues to be flat to down in the low single digits on a same store basis.
- 7
First lien net leverage decreased by 14% year-over-year to 2.3x as of June 30, 2026.
Management Comments
Michael Reed
The second quarter reflected continued progress against our long-term strategy and reinforced our confidence in reaffirming our full-year outlook. We reduced operating expenses by approximately 8% year-over-year, generated approximately $20 million of free cash flow, an increase of approximately 11% year-over-year, and delivered positive net income for the second consecutive quarter. Our Digital-only subscription and Digital other businesses continued to build momentum and remain important drivers of our long-term growth. Digital-only subscription revenues grew year-over-year for the second consecutive quarter, while digital-only ARPU reached another record high. Digital other revenues also grew year-over-year, and we expect this revenue stream to continue expanding throughout the year as we broaden our portfolio of content licensing partners and further grow our commerce opportunities. Consumer discovery continues to evolve beyond traditional search, and we have been preparing for that shift by expanding our reach across social, video and newsletters while strengthening our first-party audience capabilities. Combined with investments in technologies like Palantir, these initiatives are helping us better understand and monetize our audience while building a more diversified and resilient business. While quarterly results may fluctuate as we execute our strategy, our long-term business plan remains intact and supports our confidence in reaffirming our full-year outlook. Across the business we continue to see meaningful progress, and we believe are getting close to crossing that revenue inflection point. We believe we are building a strong operating foundation on a large and engaged audience, from which data and signals will drive greatly improved monetization as we leverage that intelligence. We are confident in the steps we are taking to position the Company for sustainable long-term revenue growth combined with free cash flow growth and margin expansion, leading to long-term value creation for shareholders.
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