Gannett Q1 2024: Digital revenues 42% of total, net loss $84.8M includes $46M impairment

USA TODAY Co., Inc.

2024-Q1 EPS reported -$0.60 revenue$635,761,000

Total revenues $635.8M, down 5% YoY; net loss $84.8M includes ~$46M impairment from McLean facility exit.
Total digital revenues $267.5M (42.1% of total), up 8.1% YoY; digital-only subscription revenues $43.5M (+21.3%).
Adjusted EBITDA $57.6M (-8.4% YoY); free cash flow $9.5M, an improvement of $11.5M YoY.
Digital-only paid subs topped 2.0M (+1.1% sequentially); digital ARPU $7.22, up 22.4% YoY.
Company reiterates business outlook; expects to exit 2024 with total revenue growth year-over-year.

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 first quarter ended March 31, 2024 results: revenue $635.8 million, net income Net loss attributable to Gannett of $84.8 million.

Period: the first quarter ended March 31, 2024
Revenue: $635.8 million
Net income: Net loss attributable to Gannett of $84.8 million
Result: reported results

Exact text from the filing

4.2% year-over year ◦ Record high core platform average revenue per user (1) of $2,697 , up 6.4% year-over-year Additional First Quarter 2024 Highlights: • Total revenues of $635.8 million decreased 5.0% compared to the first quarter of 2023, reflecting improvement on revenue declines of 8.4% in the fourth quarter of 2023 compared to the prior year fourth quarter ◦

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Source: SEC EDGAR

accession 0001579684-24-000029

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