---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-22-031655"
form_type: "8-K"
ticker: "LEE"
cik: "0000058361"
company_name: "LEE ENTERPRISES, Inc"
filed_at: "2022-12-09T23:59:59+00:00"
generated_at: "2026-06-21T07:03:41.306301+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lee Enterprises reports FY22 results; digital revenue up 27%, subscribers up 32%; 10-K filing delayed

## Summary
- FY22 total operating revenue $781M (-2% YoY); net income $1M; Adjusted EBITDA $96M (in line with guidance $95-98M).
- Q4 operating revenue $194M (flat YoY); net loss $6M; Adjusted EBITDA $30M (+17% YoY).
- Digital-only subscribers 532,000 (+32% YoY), exceeding updated guidance of 515,000. Total Digital Revenue $240M (+27%).
- Amplified Digital revenue $76M FY22 (+83% YoY); digital advertising/marketing services 50% of total ad revenue.
- Company expects 10-K filing delay due to internal control assessment; expects to file within 15-day extension. Management expects no material impact on preliminary results.

## SEC filing metadata
- accession: 0001628280-22-031655
- form_type: 8-K
- ticker: LEE
- cik: 0000058361
- company_name: LEE ENTERPRISES, Inc
- filed_at: 2022-12-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/58361/000162828022031655/0001628280-22-031655-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/58361/000162828022031655/lee-20221208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-22-031655
- JSON: https://secwatch.observer/filing/0001628280-22-031655.json
- Plain text: https://secwatch.observer/filing/0001628280-22-031655.txt

## Key facts
- Earnings Releases
  LEE ENTERPRISES, Inc reported the fiscal year ended September 25, 2022 results: revenue $781 million, net income $1 million. Guidance initiated.
  - Period: the fiscal year ended September 25, 2022
  - Revenue: $781 million
  - Net income: $1 million
  - Guidance: initiated
  - Result: preliminary results
  source text: • Total operating revenue was $781 million, down 2% versus the prior year. • Total Digital Revenue was $240 million, a 27% increase over the prior year, and represented 31% of our total operating revenue. • Digital-only subscription revenue increased 42% in 2022 compared to 2021. • Digital advertising and marketing services revenue represented 50% of our total advertising revenue and totaled $181 million, a 28% increase over the prior year. Digital marketing services revenue at Amplified Digital ® fueled the growth, with revenue of $76 million, an 83% increase over the prior year. • Digital services revenue, which is predominantly TownNews, totaled $18 million in the year. On a standalone basis, revenue at TownNews totaled $31 million, a 14% increase over the prior year. • Operating expenses totaled $762 million and Cash Costs (1) were up 1%. Rapidly rising prices, incremental investments in digital talent and technology tied to our digital growth strategy, and an increase in cost of g
  evidence_url: https://www.sec.gov/Archives/edgar/data/58361/000162828022031655/0001628280-22-031655-index.htm
- Earnings Releases
  LEE ENTERPRISES, Inc reported the fourth quarter ended September 25, 2022 results: revenue $194 million, net income $6 million. Guidance initiated.
  - Period: the fourth quarter ended September 25, 2022
  - Revenue: $194 million
  - Net income: $6 million
  - Guidance: initiated
  - Result: preliminary results
  source text: • Total operating revenue was $194 million, flat versus the prior year. • Total Digital Revenue (3) was $65 million, a 31% increase over the prior year, and represented one-third of our total operating revenue. • Digital-only subscription revenue increased 46% in the fourth quarter compared to the same quarter last year and totaled $40 million in the fiscal year. Digital-only subscribers increased 32% and now total 532,000, exceeding our updated guidance of 515,000. • Digital advertising and marketing services revenue represented 55% of our total advertising revenue and totaled $49 million, a 33% increase over the prior year. Digital marketing services revenue at Amplified Digital ® fueled the growth, with quarterly revenue of $22 million, an 82% increase compared to the prior year. • The Company recognized $20 million in non-cash impairments of intangible assets and leases. • Net loss totaled $6 million and Adjusted EBITDA totaled $30 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/58361/000162828022031655/0001628280-22-031655-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.