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LEE

Lee Enterprises, Incorporated

LEE

Lee Enterprises, Incorporated • NASDAQ
$3.95 ▲ 0.00% (+0.00)
Market Cap $24.73 M
52w High $17.49
52w Low $3.79
Dividend Yield 0%
P/E -0.58
Volume 12.32K
Outstanding Shares 6.26M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $139.105M ▼ $71.255M ▼ $-6.415M ▼ -4.612% ▼ $-1.05 ▼ $2.312M ▼
Q3-2025 $141.294M ▲ $85.928M ▲ $-1.92M ▲ -1.359% ▲ $-0.31 ▲ $9.495M ▲
Q2-2025 $137.38M ▼ $82.113M ▼ $-12.511M ▲ -9.107% ▲ $-1.85 ▲ $1.326M ▼
Q1-2025 $144.562M ▼ $144.298M ▼ $-16.748M ▼ -11.585% ▼ $-2.8 ▼ $3.566M ▲
Q4-2024 $158.574M $158.522M $-10.088M -6.362% $2.69 $3.332M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $14.125M ▲ $622.652M ▼ $660.849M ▲ $-40.499M ▼
Q2-2025 $4.664M ▼ $623.931M ▼ $660.029M ▲ $-38.921M ▼
Q1-2025 $6.122M ▼ $632.968M ▼ $657.145M ▲ $-26.653M ▼
Q4-2024 $9.598M ▼ $649.171M ▼ $656.505M ▼ $-9.889M ▼
Q3-2024 $13.425M $677.455M $670.963M $3.968M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.676M ▲ $8.892M ▲ $1.941M ▲ $-1.372M ▼ $9.461M ▲ $8.276M ▲
Q2-2025 $-12.015M ▲ $-790K ▲ $-668K ▼ $0 $-1.458M ▲ $-2.16M ▲
Q1-2025 $-16.224M ▼ $-7.337M ▼ $3.861M ▲ $0 ▲ $-3.476M ▲ $-8.89M ▼
Q4-2024 $-9.479M ▼ $-261K ▲ $3.217M ▲ $-6.783M ▼ $-3.827M ▼ $-2.917M ▲
Q3-2024 $-4.266M $-1.902M $359K $-1.139M $-2.682M $-5.476M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025Q4-2025
Advertising and Marketing Services
Advertising and Marketing Services
 $70.00M ▲$60.00M ▼$70.00M ▲$60.00M ▼
Product and Service Other
Product and Service Other
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Subscription and Circulation
Subscription and Circulation
 $60.00M ▲$60.00M ▲$60.00M ▲$70.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been drifting down over the past few years, reflecting the broader pressure on traditional publishing. Gross profit remains relatively high as a share of sales, but operating profit has thinned out and recently slipped back toward break-even. After a brief period of small profitability, net results have swung to losses again, and earnings per share have been volatile. Overall, the income statement shows a business in transition, with shrinking legacy revenue and not yet enough scale or efficiency in the new model to deliver steady, reliable profits.

Balance Sheet

Balance Sheet The balance sheet looks tight. Total assets have been edging down, cash on hand is very limited, and debt remains heavy relative to the size of the company. Shareholders’ equity has moved from slightly positive to slightly negative, which signals a very thin capital cushion and accumulated losses over time. This structure leaves less room for error and makes the company more sensitive to any missteps in execution or downturns in the business.

Cash Flow

Cash Flow Cash generation from day‑to‑day operations has been close to flat in recent years, with only a modest positive year earlier in the period. After routine investment spending, free cash flow has usually been slightly negative. Even though capital expenditures are not large, the core business is currently not throwing off enough cash to comfortably fund both investments and debt obligations. This limits financial flexibility and raises the importance of cost control and revenue growth from digital initiatives.

Competitive Edge

Competitive Edge Lee competes in a structurally challenged industry but has some distinct advantages. It owns long‑standing local news brands across dozens of U.S. markets, which gives it community trust and reach that are hard for national players to replicate. At the same time, it faces intense competition for attention and ad dollars from big tech platforms and other news sources. The company’s growing digital subscriptions and rising share of revenue from digital channels show progress, but its smaller scale and leveraged balance sheet make the competitive position more fragile than that of larger, better-capitalized media groups.

Innovation and R&D

Innovation and R&D The company is leaning heavily into innovation, especially around artificial intelligence and data. Its AI-powered marketing platform for local businesses and its cloud partnership with a major tech provider aim to modernize everything from content personalization to advertising solutions and newsroom workflows. These efforts could enhance user engagement, deepen relationships with local advertisers, and improve efficiency. However, they are still in relatively early stages, with uncertainty around how quickly they will be adopted, how much incremental revenue and cost savings they can generate, and how competitors respond with their own AI tools.

Summary

Lee Enterprises is in the middle of a difficult but clearly defined transformation: shifting from a declining print-centric model to a digital and AI-driven local media platform. Strategically, the direction is coherent—focus on hyper-local content, digital subscriptions, and technology-enabled marketing services. Financially, though, the picture is strained: revenue is under pressure, profitability has slipped back into losses, cash flow is thin, and leverage is high with only a small (now negative) equity base. The core question for the next few years is whether the company can scale its digital and AI initiatives fast enough, and operate leanly enough, to restore consistent profitability and rebuild balance sheet strength before financial constraints start to bite harder.

NEWS

November 21, 2025 · 5:32 PM UTC

Lee Enterprises, Inc. Announces Resignation of Chief Financial Officer Tim Millage

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November 10, 2025 · 5:20 PM UTC

Lee Enterprises Announces Intent to Pursue Rights Offering to Potentially Reduce Term Loan Debt Interest Rate to 5% for Five Years

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