secwatch.observer — SEC 8-K summary
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Issuer:     USA TODAY Co., Inc. (TDAY)
CIK:        0001579684
Form:       8-K
Filed at:   2026-02-26T23:59:59+00:00
Accession:  0001579684-26-000008
Event type: earnings
Sentiment:  positive
Materiality: 0.90
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud

USA TODAY Co. Reports Q4 2025 Results with Total Adjusted EBITDA of $91.1M, Up 16.6% YoY
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- Total revenues of $585.0M decreased 5.8% YoY but same-store revenue trend improved 290 bps from Q3 2025.
- Total digital revenues reached $277.5M or 47.4% of total revenues, an all-time high, with digital-only subscription revenues of $45.6M.
- Total Adjusted EBITDA of $91.1M, margin 15.6%, up 300 bps YoY; free cash flow of $31.5M increased 722.3% YoY.
- Company repaid $136M in long-term debt during 2025, ending with over $90M cash and first lien net leverage of 2.4x.
- Chairman Michael Reed highlighted several AI licensing deals accretive to EBITDA and first positive net income since 2019 merger.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1579684/000157968426000008/0001579684-26-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1579684/000157968426000008/tday-20260226.htm
  HTML page:      https://secwatch.observer/filing/0001579684-26-000008

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer