USA Today Reports Earnings, Sees Digital Momentum

Media company sees strong profitability, digital revenue growth in Q4 2025

Published on Feb. 26, 2026

USA Today (NYSE:TDAY) reported its Q4 2025 earnings results, highlighting strong profitability with Total Adjusted EBITDA of $91.1 million (up ~17% year-over-year), margin expansion of ~300 basis points to ~15.6%, and positive full-year net income for the first time since 2019. The company also saw accelerated digital momentum, with digital revenues exceeding 47% of total revenue and digital-only ARPU reaching a record $9.81 (up ~24% year-over-year).

Why it matters

USA Today's earnings report showcases the company's progress in its digital transformation, with growing digital revenues and profitability offsetting ongoing challenges in its print and LocaliQ businesses. The results demonstrate USA Today's ability to adapt to industry shifts and capitalize on emerging digital opportunities, which will be crucial for the company's long-term success.

The details

In its Q4 2025 earnings, USA Today reported a loss of $0.21 per share, though the company highlighted strong profitability metrics including a 17% year-over-year increase in Total Adjusted EBITDA to $91.1 million and a 300-basis-point expansion in margins to 15.6%. The company also generated $31.5 million in Q4 free cash flow and reported positive full-year net income for the first time since 2019. USA Today's digital momentum accelerated, with digital revenues exceeding 47% of total revenue, digital advertising growing sequentially, and digital-only ARPU reaching a record $9.81 (up 24% year-over-year). The company noted that multiyear AI licensing deals, including with Meta and Microsoft, drove a 27% increase in "digital other" revenue and contributed meaningfully to Q4 results, though the timing and recognition of such deals can be uneven. Operational headwinds remain in the company's LocaliQ and print businesses, with LocaliQ customer counts and revenue needing improvement and print/commercial revenues continuing their secular declines.

  • USA Today reported its Q4 2025 earnings results on Thursday, February 26, 2026.
  • The company reported positive full-year net income for the first time since 2019.

The players

USA Today

A media and marketing solutions company headquartered in McLean, Virginia, and the largest U.S. newspaper publisher by circulation. USA Today publishes the national newspaper USA Today alongside more than 260 local news brands.

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The takeaway

USA Today's strong digital performance and profitability improvements demonstrate the company's ability to adapt to industry shifts and capitalize on emerging opportunities, positioning it for long-term success despite ongoing challenges in its legacy print and LocaliQ businesses.