Lee Enterprises Q4 Adj EBITDA up $2M YoY; digital subs revenue +16%

LEE ENTERPRISES, Inc

2025-FY EPS reported -$6.20 revenue$562,341,000

Q4 total operating revenue $139M; net loss $6M; Adj EBITDA $15M, up $2M on comparable basis.
Digital-only subscription revenue up 16% same-store; 633k digital-only subscribers.
Total debt $455M; cash $10M; FY26 Adj EBITDA growth guided at mid-single digits.
Pension plan termination underway to eliminate balance sheet volatility; $4M cyber expenses in FY25.
FY26 capex up to $10M; cash taxes expected $1M-$6M; no debt covenants.

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