We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.
| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| New Gannett Co Inc | NYSE:GCI | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.16 | -4.32% | 3.54 | 3.6625 | 3.54 | 3.61 | 1,145,624 | 01:00:00 |
From Mar 2024 to Mar 2025
Gannett Co., Inc. ("Gannett", "we", "us", "our", or the "Company") (NYSE: GCI) today reported its financial results for the second quarter ended June 30, 2024.
"We are pleased to report another strong quarter of financial results. In fact, our operational execution led to year-over-year growth in Adjusted EBITDA and further improvement to our same store revenue trends. Same store revenue trends improved sequentially for the sixth consecutive quarter, and we remain on track and expect to hit the revenue growth inflection point as we exit 2024. Each of our digital revenue streams continued to grow over the prior year, and as a result, total digital revenues now account for 44% of total revenues."
"As part of our strategy, we continued to further optimize our capital structure. During the second quarter, we repaid $24.3 million of debt, which combined with our Adjusted EBITDA growth, reduced our first lien net leverage below 2.0x. Equally important, our total net debt fell under $1.0 billion for the first time since the 2019 acquisition of legacy Gannett, and we continued to maintain a strong liquidity position with approximately $99 million in cash on the balance sheet."
"Midway through 2024 we are on track with our operating plans and believe we are well-positioned to continue this positive momentum for the balance of the year. Our operational performance in the second quarter reinforces the confidence we have in our strategic direction, and as such, we are reiterating our business outlook," said Michael Reed, Gannett Chairman and Chief Executive Officer.
Second Quarter 2024 Digital Highlights:
Additional Second Quarter 2024 Highlights:
(1)
See "Key Performance Indicators" ("KPIs") below for information about our use of KPIs.
(2)
185 million average monthly unique visitors in the second quarter of 2024 with approximately 132 million average monthly unique visitors coming from our USA TODAY NETWORK (based on June 2024 Comscore Media Metrix®) and approximately 53 million average monthly unique visitors resulting from our U.K. digital properties (based on Adobe Analytics).
(3)
Adjusted EBITDA, Adjusted Net income (loss) attributable to Gannett, Free cash flow, Same store revenues, and Free cash flow CAGR are non-GAAP measures. See "Use of Non-GAAP Information" below for information about these non-GAAP measures.
Second Quarter 2024 Capital Structure Highlights:
Full Year 2024 and 2025-2026 Business Outlook(6)
The Company reiterates its full year 2024 outlook and its outlook over the course of 2025 and 2026.
Financial Highlights
In thousands
Second Quarter 2024
Revenues
$
639,840
Net income attributable to Gannett
13,748
Adjusted EBITDA(9) (non-GAAP basis)
74,562
Adjusted net income attributable to Gannett(9) (non-GAAP basis)
29,129
Cash provided by operating activities
35,125
Free cash flow(9) (non-GAAP basis)
25,399
(4)
Total net debt outstanding is calculated by subtracting cash on the balance sheet from the total principal value of debt.
(5)
As of June 30, 2024, the First Lien Net Leverage ratio was calculated by subtracting cash on the balance sheet from the sum of both our five-year senior secured term loan facility (the "Senior Secured Term Loan") and 6% first lien notes due November 1, 2026 (the "2026 Senior Notes") and dividing that by Q2 2024 LTM Adjusted EBITDA. Our 6% Senior Secured Convertible Notes due 2027 are second lien as of the completion of the Senior Secured Term Loan refinancing in October 2021.
(6)
Projections are based on Company estimates as of August 1, 2024 and are provided solely for illustrative purposes. Actual results may vary. The Company undertakes no obligation to update this information. Additionally, the Company's estimates do not factor in the impact of any future acquisitions or dispositions. The Company’s future financial results could differ materially from the Company’s current estimates.
(7)
Capital expenditures are expected to increase as a result of investments in technology and products.
(8)
Cash provided by operating activities CAGR and Free cash flow CAGR are based on 2023 to 2026 estimated growth rates.
(9)
Refer to "Use of Non-GAAP Information" below for the Company’s definition of Adjusted EBITDA, Adjusted net income attributable to Gannett, and Free cash flow, as well as the reconciliation of such measures to the most comparable GAAP measure.Earnings Conference Call
Management will host a conference call on Thursday, August 1, 2024 at 8:30 A.M. Eastern Time to review the financial and operating results for the period. A copy of the earnings release will be posted to the Investor Relations section of Gannett’s website, investors.gannett.com. The conference call may be accessed by dialing 1-888-506-0062 (from within the U.S.) or 1-973-528-0011 (from outside of the U.S.) ten minutes prior to the scheduled start of the call; please reference "Gannett Second Quarter Earnings Call" or access code "598135". We use our website as a channel of distribution for important Company information and we use the investors.gannett.com website as a means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD. A simultaneous webcast of the conference call will be available to the public on a listen-only basis at investors.gannett.com. Please allow extra time prior to the call to visit the website and download any necessary software required to listen to the internet broadcast. A telephonic replay of the conference call will also be available approximately two hours following the call’s completion through 11:59 P.M. Eastern Time on Thursday, August 15, 2024 by dialing 1-877-481-4010 (from within the U.S.) or 1-919-882-2331 (from outside of the U.S.); please reference access code "50820". A transcript of our earnings call held today also will be posted to the investors.gannett.com website.
About Gannett
Gannett Co., Inc. (NYSE: GCI) is a diversified media company with expansive reach at the national and local level dedicated to empowering and enriching communities. We seek to inspire, inform, and connect audiences as a sustainable, growth focused media and digital marketing solutions company. We endeavor to deliver essential content, marketing solutions, and experiences for curated audiences, advertisers, consumers, and stakeholders by leveraging our diverse teams and suite of products to enrich the local communities and businesses we serve. Our current portfolio of trusted media brands includes the USA TODAY NETWORK, comprised of the national publication, USA TODAY, and local media organizations in the United States, and Newsquest, a wholly-owned subsidiary operating in the United Kingdom. Our digital marketing solutions brand, LocaliQ, uses innovation and software to enable small and medium-sized businesses to grow, and USA TODAY NETWORK Ventures, our events division, creates impactful consumer engagements, promotions, and races.
Cautionary Statement Regarding Forward-Looking Statements
Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, our full year 2024 business outlook, our 2025-2026 business outlook, statements regarding our business outlook, digital revenue performance and growth, growth in our Digital Marketing Solutions segment, growth of and demand for our digital-only subscriptions and audience, digital marketing and advertising services, digital revenues, monetization of our audience, print advertising trends and revenues, expected results of our targeting and pricing models, expectations regarding our cash from operating activities, free cash flows, compound annual growth rates ("CAGR"), revenues, net income (loss) attributable to Gannett, Adjusted EBITDA, same store revenues and cash flows, expectations regarding our long-term growth, sustainable growth, and inflection in our revenue, our ability to create long-term stockholder value, our expectations, in terms of both amount and timing, with respect to debt repayment, our expected capital expenditures, expectations regarding real estate and non-strategic asset sales, the impact from changes at our McLean, Virginia property, our strategy, our partnerships, our ability to achieve our operating priorities, our long-term opportunities, economic impacts, our ability to navigate volatility, achieve our financial goals, optimize our capital structure and achieve optimal financial performance, our cost structure, future revenue and expense trends, and our ability to influence trends. Words such as "expect(s)", believe(s)", "will", "outlook", "guidance", "estimate(s)", "project(s)", "focus", and similar expressions are intended to identify such forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties. These and other risks and uncertainties could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond our control. The Company can give no assurance its expectations will be attained. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the risks and important factors that could cause actual results to differ from such forward-looking statements, see the risks and other factors detailed from time to time in the Company's most recent Annual Report on Form 10-K, our quarterly reports on Form 10-Q, and our other filings with the Securities and Exchange Commission. Furthermore, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. Except to the extent required by law, the Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.
GANNETT CO., INC. CONDENSED CONSOLIDATED BALANCE SHEETS
Table No. 1
In thousands, except share data
June 30, 2024
December 31, 2023
Assets
(Unaudited)
Current assets:
Cash and cash equivalents
$
98,886
$
100,180
Accounts receivable, net of allowance of $14,514 and $16,338 as of June 30, 2024 and December 31, 2023, respectively
241,649
266,096
Inventories
22,427
26,794
Prepaid expenses
39,426
36,210
Other current assets
15,647
14,957
Total current assets
418,035
444,237
Property, plant and equipment, net of accumulated depreciation of $342,821 and $336,408 as of June 30, 2024 and December 31, 2023, respectively
233,892
239,087
Operating lease assets
157,980
221,733
Goodwill
533,687
533,876
Intangible assets, net
478,697
524,350
Deferred tax assets
40,166
37,125
Pension and other assets
191,029
180,839
Total assets
$
2,053,486
$
2,181,247
Liabilities and equity
Current liabilities:
Accounts payable and accrued liabilities
$
304,882
$
293,444
Deferred revenue
112,259
120,502
Current portion of long-term debt
60,452
63,752
Operating lease liabilities
41,694
45,763
Other current liabilities
8,361
10,052
Total current liabilities
527,648
533,513
Long-term debt
531,211
564,836
Convertible debt
423,370
416,036
Deferred tax liabilities
—
2,028
Pension and other postretirement benefit obligations
40,391
42,661
Long-term operating lease liabilities
183,137
203,871
Other long-term liabilities
98,459
100,989
Total noncurrent liabilities
1,276,568
1,330,421
Total liabilities
1,804,216
1,863,934
Commitments and contingent liabilities
Equity
Preferred stock, $0.01 par value per share, 300,000 shares authorized, none of which were issued and outstanding at June 30, 2024 and December 31, 2023
—
—
Common stock, $0.01 par value per share, 2,000,000,000 shares authorized, 158,817,284 shares issued and 147,653,745 shares outstanding at June 30, 2024; 158,554,705 shares issued and 148,939,463 shares outstanding at December 31, 2023
1,588
1,586
Treasury stock, at cost, 11,163,539 shares and 9,615,242 shares at June 30, 2024 and December 31, 2023, respectively
(20,499
)
(17,393
)
Additional paid-in capital
1,432,682
1,426,325
Accumulated deficit
(1,098,212
)
(1,027,192
)
Accumulated other comprehensive loss
(65,786
)
(65,541
)
Total Gannett stockholders' equity
249,773
317,785
Noncontrolling interests
(503
)
(472
)
Total equity
249,270
317,313
Total liabilities and equity
$
2,053,486
$
2,181,247
GANNETT CO., INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
Table No. 2
Three months ended June 30,
In thousands, except per share amounts
2024
2023
Digital
$
278,378
$
262,103
Print and commercial
361,462
410,254
Total revenues
639,840
672,357
Operating costs
391,474
426,096
Selling, general and administrative expenses
183,019
184,127
Depreciation and amortization
38,258
39,784
Integration and reorganization costs
19,775
7,287
Asset impairments
—
1,177
Loss on sale or disposal of assets, net
236
146
Other operating expenses
112
229
Total operating expenses
632,874
658,846
Operating income
6,966
13,511
Interest expense
26,270
28,559
Loss on early extinguishment of debt
87
—
Non-operating pension income
(3,137
)
(2,263
)
Equity income in unconsolidated investees, net
(559
)
(621
)
Other non-operating income, net
(2,609
)
(807
)
Non-operating expenses
20,052
24,868
Loss before income taxes
(13,086
)
(11,357
)
(Benefit) provision for income taxes
(26,803
)
1,333
Net income (loss)
13,717
(12,690
)
Net loss attributable to noncontrolling interests
(31
)
(13
)
Net income (loss) attributable to Gannett
$
13,748
$
(12,677
)
Income (loss) per share attributable to Gannett - basic
$
0.10
$
(0.09
)
Income (loss) per share attributable to Gannett - diluted
$
0.09
$
(0.09
)
GANNETT CO., INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
Table No. 3
Six months ended June 30,
In thousands
2024
2023
Operating activities
Net loss
$
(71,051
)
$
(2,430
)
Adjustments to reconcile net loss to operating cash flows:
Depreciation and amortization
76,556
83,482
Share-based compensation expense
6,338
8,783
Non-cash interest expense
10,513
10,567
Loss (gain) on sale or disposal of assets, net
788
(17,535
)
Gain on early extinguishment of debt
(530
)
(496
)
Asset impairments
45,989
1,182
Pension and other postretirement benefit obligations
(15,399
)
(6,792
)
Equity income in unconsolidated investees, net
(374
)
(831
)
Change in other assets and liabilities, net
4,746
(23,144
)
Cash provided by operating activities
57,576
52,786
Investing activities
Purchase of property, plant and equipment
(22,725
)
(16,448
)
Proceeds from sale of real estate and other assets
6,073
31,465
Change in other investing activities
386
(12
)
Cash (used for) provided by investing activities
(16,266
)
15,005
Financing activities
Repayments of long-term debt
(39,575
)
(51,291
)
Treasury stock
(3,103
)
(2,622
)
Changes in other financing activities
(846
)
(647
)
Cash used for financing activities
(43,524
)
(54,560
)
Effect of currency exchange rate change on cash
386
98
(Decrease) increase in cash, cash equivalents and restricted cash
(1,828
)
13,329
Cash, cash equivalents and restricted cash at beginning of period
110,612
104,804
Cash, cash equivalents and restricted cash at end of period
$
108,784
$
118,133
GANNETT CO., INC. SEGMENT INFORMATION (Unaudited)
Table No. 4
Three months ended June 30,
In thousands
2024
2023
Revenues:
Domestic Gannett Media
$
491,909
$
528,194
Newsquest
61,252
57,609
Digital Marketing Solutions
123,798
122,789
Corporate and other
1,258
1,673
Intersegment eliminations
(38,377
)
(37,908
)
Total
$
639,840
$
672,357
USE OF NON-GAAP INFORMATION
The Company uses non-GAAP financial performance and liquidity measures to supplement the financial information presented on a U.S. generally accepted accounting principles ("U.S. GAAP") basis. These non-GAAP financial performance and liquidity measures, which may not be comparable to, and may be defined differently than, similarly titled measures used or reported by other companies, should not be considered in isolation from or as a substitute for the related U.S. GAAP measures and should be read together with financial information presented on a U.S. GAAP basis.
We define our non-GAAP financial performance and liquidity measures as follows:
Management’s Use of Non-GAAP Measures
Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net income (loss) attributable to Gannett, Free cash flow and Same store revenues are not measurements of financial performance or liquidity under U.S. GAAP and should not be considered in isolation or as an alternative to net income (loss), margin, income (loss) from operations, cash flow provided by (used for) operating activities, revenues, or any other measure of performance or liquidity derived in accordance with U.S. GAAP. We believe these non-GAAP financial performance and liquidity measures, as we have defined them, are helpful in identifying trends in our day-to-day performance because the items excluded have little or no significance on our day-to-day operations. These measures provide an assessment of core expenses and afford management the ability to make decisions which are expected to facilitate meeting current financial goals as well as achieve optimal financial performance.
We use Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net income (loss) attributable to Gannett, Free cash flow and Same store revenues as measures of our day-to-day operating performance, which is evidenced by the publishing and delivery of news and other media and excludes certain expenses that may not be indicative of our day-to-day business operating results.
Limitations of Non-GAAP Measures
Each of our non-GAAP measures have limitations as analytical tools. They should not be viewed in isolation or as a substitute for U.S. GAAP measures of earnings or cash flows. Material limitations in making the adjustments to our earnings to calculate Adjusted EBITDA and Adjusted Net income (loss) attributable to Gannett using these non-GAAP financial measures as compared to U.S. GAAP net income (loss) include: the cash portion of interest / financing expense, income tax (benefit) provision, and charges related to asset impairments, which may significantly affect our financial results.
Management believes these items are important in evaluating our performance, results of operations, and financial position. We use non-GAAP financial performance and liquidity measures to supplement our U.S. GAAP results in order to provide a more complete understanding of the factors and trends affecting our business.
Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net income (loss) attributable to Gannett, Free cash flow and Same store revenues are not alternatives to net income (loss), margin, income (loss) from operations, cash flow provided by (used for) operating activities, revenues, or any other measure of performance or liquidity derived in accordance with U.S. GAAP. As such, they should not be considered or relied upon as substitutes or alternatives for any such U.S. GAAP financial measures. We strongly urge you to review the reconciliations of Net income (loss) attributable to Gannett to Adjusted EBITDA, Adjusted EBITDA margin, Net income (loss) attributable to Gannett to Adjusted Net income (loss) attributable to Gannett, Cash provided by (used for) operations to Free cash flow and Revenues to Same Store revenues along with our condensed consolidated financial statements included elsewhere in this report. We also strongly urge you not to rely on any single financial performance or liquidity measure to evaluate our business. In addition, because Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net income (loss) attributable to Gannett, Free cash flow and Same store revenues are not measures of financial performance under U.S. GAAP and are susceptible to varying calculations, the Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net income (loss) attributable to Gannett, Free cash flow and Same store revenues measures as presented in this release may differ from and may not be comparable to similarly titled measures used by other companies.
Non-GAAP Outlook
Our 2024 business outlook and our 2025-2026 business outlook included in this release include certain non-GAAP financial performance and liquidity measures, including Same store revenues, Adjusted EBITDA, Free cash flow, and Free cash flow CAGR. CAGR is a compound annual growth rate over the time period noted for Free cash flow. We believe providing expected Free cash flow CAGR as part of our outlook is meaningful to share with investors and an indication of what management believes is an important measure of growth. The outlook for each of these non-GAAP items does not factor in the impact of any future acquisitions or dispositions. We have provided these non-GAAP measures for future guidance for the same reasons that were outlined above for historical non-GAAP measures. We have not reconciled non-GAAP forward-looking Same store revenues, Adjusted EBITDA, Free cash flow, and Free cash flow CAGR to their most directly comparable U.S. GAAP measure, as permitted by Item 10(e)(1)(i)(B) of Regulation S-K. Such reconciliations would require unreasonable efforts to estimate and quantify various necessary U.S. GAAP components largely because forecasting or predicting our future operating results is subject to many factors or future events out of our control, is unavailable, or is not readily predictable, and could significantly impact, either individually or in the aggregate, our comparable U.S. GAAP measures. Accordingly, we are unable to provide a full reconciliation of the non-GAAP measures used in our outlook without unreasonable efforts.
GANNETT CO., INC. NON-GAAP FINANCIAL INFORMATION ADJUSTED EBITDA (Unaudited)
Table No. 5
Three months ended June 30, 2024
In thousands
Domestic Gannett Media
Newsquest
Digital Marketing Solutions
Corporate and other
Consolidated Total
Net income (loss) attributable to Gannett
$
16,043
$
14,058
$
5,514
$
(21,867
)
$
13,748
Benefit for income taxes
—
—
—
(26,803
)
(26,803
)
Interest expense
—
—
—
26,270
26,270
Loss on early extinguishment of debt
—
—
—
87
87
Non-operating pension income
(1,306
)
(1,831
)
—
—
(3,137
)
Depreciation and amortization
24,309
2,043
6,065
5,841
38,258
Integration and reorganization costs
14,693
243
887
3,952
19,775
Third-party debt expenses and acquisition (income) costs
—
(22
)
—
270
248
Loss on sale or disposal of assets, net
233
1
—
2
236
Share-based compensation expense
—
—
—
3,512
3,512
Other non-operating income, net
(1,118
)
(354
)
(697
)
(440
)
(2,609
)
Non-recurring items
75
—
4
4,898
4,977
Adjusted EBITDA (non-GAAP basis)
$
52,929
$
14,138
$
11,773
$
(4,278
)
$
74,562
Net income attributable to Gannett margin
3.3
%
23.0
%
4.5
%
NM
2.1
%
Adjusted EBITDA margin (non-GAAP basis)
10.8
%
23.1
%
9.5
%
NM
11.7
%
NM indicates not meaningful.
Three months ended June 30, 2023
In thousands
Domestic Gannett Media
Newsquest
Digital Marketing Solutions
Corporate and other
Consolidated Total
Net income (loss) attributable to Gannett
$
22,786
$
13,139
$
9,273
$
(57,875
)
$
(12,677
)
Provision for income taxes
—
—
—
1,333
1,333
Interest expense
—
—
—
28,559
28,559
Non-operating pension income
(80
)
(2,183
)
—
—
(2,263
)
Depreciation and amortization
27,630
2,126
5,927
4,101
39,784
Integration and reorganization costs (reversal)
1,934
376
(48
)
5,025
7,287
Third-party debt expenses and acquisition costs
—
—
—
229
229
Asset impairments
1,177
—
—
—
1,177
Loss on sale or disposal of assets, net
77
3
66
—
146
Share-based compensation expense
—
—
—
5,047
5,047
Other non-operating (income) expense, net
(157
)
(1,110
)
252
208
(807
)
Non-recurring items
10
91
—
3,235
3,336
Adjusted EBITDA (non-GAAP basis)
$
53,377
$
12,442
$
15,470
$
(10,138
)
$
71,151
Net income (loss) attributable to Gannett margin
4.3
%
22.8
%
7.6
%
NM
(1.9
)%
Adjusted EBITDA margin (non-GAAP basis)
10.1
%
21.6
%
12.6
%
NM
10.6
%
NM indicates not meaningful.
GANNETT CO., INC. NON-GAAP FINANCIAL INFORMATION ADJUSTED NET INCOME (LOSS) ATTRIBUTABLE TO GANNETT (Unaudited)
Table No. 6
Three months ended June 30,
In thousands
2024
2023
Net income (loss) attributable to Gannett
$
13,748
$
(12,677
)
Loss on early extinguishment of debt
87
—
Integration and reorganization costs
19,775
7,287
Third-party debt expenses and acquisition costs
248
229
Asset impairments
—
1,177
Loss on sale or disposal of assets, net
236
146
Other items
7
(18
)
Subtotal
34,101
(3,856
)
Tax impact of above items
(4,972
)
(2,122
)
Adjusted net income (loss) attributable to Gannett (non-GAAP basis)
$
29,129
$
(5,978
)
GANNETT CO., INC. NON-GAAP FINANCIAL INFORMATION FREE CASH FLOW (Unaudited)
Table No. 7
Three months ended June 30,
In thousands
2024
2023
Cash provided by operating activities (GAAP basis)
$
35,125
$
46,068
Capital expenditures
(9,726
)
(7,650
)
Free cash flow (non-GAAP basis)(1)
$
25,399
$
38,418
(1) For the three months ended June 30, 2024 and 2023, free cash flow was negatively impacted by interest paid of $32.1 million and $35.2 million, respectively, integration and reorganization costs of $10.3 million and $16.2 million, respectively, and other costs of $3.8 million and $2.5 million, respectively.
GANNETT CO., INC. NON-GAAP FINANCIAL INFORMATION SAME STORE REVENUES - CONSOLIDATED (Unaudited)
Table No. 8
Three months ended June 30,
In thousands
2024
2023
% Change
Revenues
$
639,840
$
672,357
(4.8
)%
Currency impact
(344
)
—
Exited operations(1)
—
(2,348
)
Same store revenues
$
639,496
$
670,009
(4.6
)%
(1) Exited operations include (i) businesses divested and (ii) the elimination of stand-alone print products discontinued within the media markets.
KEY PERFORMANCE INDICATORS
A key performance indicator ("KPI") is generally defined as a quantifiable measurement or metric used to gauge performance, specifically to help determine strategic, financial, and operational achievements, especially compared to those of similar businesses.
We define Digital-only average revenue per user ("ARPU") as digital-only subscription average monthly revenues divided by the average digital-only paid subscriptions within the respective period. We define Core platform ARPU as core platform average monthly revenues divided by average monthly customer count within the period. We define core platform revenues as revenue derived from customers utilizing our proprietary digital marketing services platform that are sold by either our direct or local market teams.
Management believes Digital-only ARPU, Core platform ARPU, digital-only paid subscriptions, core platform revenues and core platform average customer count are KPIs that offer useful information in understanding consumer behavior, trends in our business, and our overall operating results. Management utilizes these KPIs to track and analyze trends across our segments.
GANNETT CO., INC. KEY PERFORMANCE INDICATORS (Unaudited)
Table No. 9
Three months ended June 30,
In thousands, except ARPU
2024
2023
Change
% Change
Domestic Gannett Media:
Digital-only ARPU
$
7.70
$
6.34
$
1.36
21
%
Newsquest:
Digital-only ARPU
$
5.94
$
6.61
$
(0.67
)
(10
)%
Total Gannett:
Digital-only ARPU
$
7.62
$
6.35
$
1.27
20
%
DMS:
Core platform revenues
$
122,843
$
121,574
$
1,269
1
%
Core platform ARPU
$
2,777
$
2,642
$
135
5
%
Core platform average customer count
14.7
15.3
(0.6
)
(4
)%
Table No. 10
As of June 30,
In thousands
2024
2023
% Change
Digital-only paid subscriptions:
Domestic Gannett Media
1,938
1,886
3
%
Newsquest
96
66
45
%
Total Gannett
2,034
1,952
4
%
View source version on businesswire.com: https://www.businesswire.com/news/home/20240801224878/en/
For investor inquiries, contact: Matt Esposito Investor Relations 703-854-3000 investors@gannett.com
For media inquiries, contact: Lark-Marie Anton Corporate Communications 646-906-4087 lark@gannett.com
1 Year New Gannett Chart |
1 Month New Gannett Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
