USA TODAY Co., Inc. reported a 7.4% year-over-year revenue decline to $519.2 million for the third quarter, while its net loss narrowed and it set out cost and 2026 guidance.
Net loss attributable to USA TODAY Co. was $4.605 million, compared with $39.249 million in the third quarter of 2025. Digital operations contributed $249.3 million, or 48% of quarterly revenue.
CEO Michael Reed said the quarter was affected by changes in consumer search and inflationary pressures. Year-over-year comparisons are against the same quarter a year earlier; the company’s fourth-quarter outlook is sequential, meaning it compares with the third quarter.
USA TODAY Co. said its cost-reduction effort, expected to save $100 million annually, was operating by quarter-end. The company said the program had created a leaner cost base and was already improving its fourth-quarter run rate.
Management expects sequential improvement in fourth-quarter net income, Total Adjusted EBITDA, cash provided by operating activities and free cash flow. The outlook covers both earnings and two distinct cash measures: cash provided by operating activities and free cash flow.
For 2026, the company forecast a mid-single-digit decline in same-store revenue. It also expects Total Adjusted EBITDA, cash provided by operating activities and free cash flow to be lower than in 2025, while net income grows. The forecast therefore points to different directions for net income and the other listed measures.
The company filed its results in a Form 8-K with the U.S. Securities and Exchange Commission on Nov. 5. The index lists Items 2.02, Results of Operations and Financial Condition, and 9.01, Financial Statements and Exhibits. The 13-document submission includes the earnings release as Exhibit 99.1.
The company said its Ad Tech trial is scheduled for April 5, 2027.
