Gannett Q4 2022 revenue down 11.6% to $730.7M; digital subs up 24% to 2.03M; net income $32.8M

USA TODAY Co., Inc.

2022-FY EPS reported -$0.57 revenue$2,945,303,000

Total revenues $730.7M, down 11.6% YoY; net income $32.8M (4.5% margin).
Digital-only paid subscriptions 2.03M (+24% YoY); digital-only circulation revenue $35.5M (+29% YoY).
Digital Marketing Solutions core platform revenue $119.7M (+9% YoY); Adjusted EBITDA $90.4M (-21.7% YoY, +74.1% sequentially).
Repaid $47.3M debt in Q4, $146.6M in 2022; cash balance $94M at year-end.
Free cash flow usage $1.6M in Q4; management expects significant cash flow growth in 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

USA TODAY Co., Inc. reported the fourth quarter ended December 31, 2022 results: revenue $730.7 million, net income $32.8 million.

Period: the fourth quarter ended December 31, 2022
Revenue: $730.7 million
Net income: $32.8 million
Result: reported results

Exact text from the filing

• Total revenues of $730.7 million decreased 11.6% compared to the fourth quarter of 2021 ◦ Same store revenues (2) decreased 10.3% compared to the fourth quarter of 2021 • Total digital revenues were $269.2 million or 36.8% of total revenues, down 0.4% over the same period in the prior year on a same store (2) basis mainly as a result of declines in digital media year-over-year • Net income attributable to Gannett of $32.8 million, an income margin of 4.5%

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Source: SEC EDGAR

accession 0001579684-23-000011

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