USA Today 2Q adj. EBITDA $56.9M, est. $64.4M

USA TODAY Co. reported second-quarter 2026 adjusted EBITDA of $56.9 million, falling below the estimated range of $64.4 million. This performance reflects a mixed operating environment, with digital revenue growth continuing to outpace declines in print and commercial segments. Total revenues for the quarter were $585.0 million, a 5.8% decrease year-over-year and 3.9% on a same-store basis, marking a 290 basis point improvement from the third quarter of 2025.

Digital revenue, which now accounts for 47.4% of total revenue, returned to year-over-year growth on a same-store basis and improved sequentially by 410 basis points. The company reported $277.5 million in digital revenue for the quarter, with digital advertising revenue increasing by 1.8% compared to the prior year period.

Despite the decline in adjusted EBITDA, the company reported a net loss of $30.1 million, or a 5.1% net loss margin, and generated $31.5 million in free cash flow, a 722.3% increase year-over-year. The company also repaid $19.1 million in debt during the quarter and ended the period with $90.2 million in cash and cash equivalents.

Looking ahead, the company expects total digital revenue to grow in 2026 and to make up more than 50% of total revenue. It also anticipates growth in net income, total adjusted EBITDA, and free cash flow for the full year.