Lee Enterprises(LEE) - 2025 Q1 - Quarterly Results

Digital Revenue Performance - Total Digital Revenue increased by 5% year-over-year to $73 million, representing 51% of total operating revenue[4] - Digital-only subscription revenue rose by 14% year-over-year, totaling$ 22 million[4] - Amplified Digital Agency revenue reached $24 million, also up 14% year-over-year[1] - Digital advertising and marketing services revenue accounted for 70% of total advertising revenue, totaling$ 47 million[4] - The company expects full-year digital revenue growth to accelerate between 7% and 10%[2] - Total Digital Revenue includes digital advertising, marketing services, digital-only subscriptions, and digital services revenue[1] Financial Performance - The company reported a net loss of $16 million for the quarter, with Adjusted EBITDA of$ 8 million[4] - Operating revenue for the quarter was $145 million, a decrease of 7% compared to the prior year[4] - Adjusted EBITDA is defined as net income plus non-operating expenses, income tax, depreciation, and other adjustments, providing a clearer view of operating performance[3] - Cash Costs, which exclude non-cash expenses, are defined as compensation, newsprint, ink, and other operating expenses, aiding in understanding the company's cash-settled costs[4] Cost Management - The company has identified approximately$ 40 million in annualized cost reductions expected to be executed by the end of the second quarter[2] Debt and Financing - Total debt outstanding is $446 million, with favorable financing terms including a fixed annual interest rate of 9.0%[5] - The company's debt stands at$ 576 million under a term loan agreement with BH Finance LLC[5] Strategic Partnerships - A strategic partnership with Amazon Web Services (AWS) was announced to enhance digital transformation and optimize content delivery[1] Revenue Definitions - Same-store revenues are based on U.S. GAAP revenues, excluding exited operations such as business divestitures and discontinued print products[2] - Excess Cash Flow is defined as any cash exceeding $20 million on the balance sheet at the end of each fiscal quarter[6]