Every 10-Q that Lee Enterprises, Inc. (LEE) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow LEE and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LEE filings page.
Lee Enterprises reported weaker sales but stronger profitability for the quarter ended June 28, 2026. Operating revenue was $125.97 million, down 10.8% year over year as both print and digital advertising and subscriptions declined. Digital revenue totaled $71.6 million, or 56.8% of total revenue, reflecting an ongoing shift from print, while digital-only subscribers fell 12.8% to 584,000 and print subscribers fell 19.3% to 221,000.
Cost reductions, insurance recoveries from the 2025 cyber incident, and lower interest expense drove improved earnings. Operating income rose to $8.63 million and net income to $5.17 million (EPS $0.21), versus a loss a year earlier; Adjusted EBITDA reached $18.38 million. For the nine months, revenue fell 10.7% to $378.0 million, but net loss narrowed sharply to $1.66 million. A $50.0 million private placement and a cut in the term loan margin from 9.00% to 5.00% boosted liquidity, lifting cash to $59.43 million with term loan debt of $454.7 million and net debt of about $395.3 million. Majority shareholder David H. Hoffmann now controls 54.5% of the voting power, making the company a “controlled company” under Nasdaq rules.
Lee Enterprises, Inc. reported sharply improved results for the quarter ended March 29, 2026, though it remained unprofitable. Operating revenue fell 11.2% to $122.0 million as both print and digital sales declined, but aggressive cost cuts and insurance recoveries reduced the net loss to $1.7 million, from $12.0 million a year earlier.
The company completed a $50.0 million Common Stock private placement at $3.25 per share and used it, along with a credit agreement amendment, to lower the margin on its $455.5 million term loan from 9.0% to 5.0% for five years, easing future interest expense. Cash rose to $53.3 million, while Adjusted EBITDA nearly doubled to $15.1 million on lower compensation, print costs and restructuring charges.
Lee Enterprises reported quarterly operating revenue of $130.1 million, down 10.0% year over year, but sharply reduced its net loss to $5.1 million from $16.2 million. Cost-cutting lowered operating expenses 15.5%, lifting operating results to a $5.2 million profit and increasing Adjusted EBITDA to $12.3 million from $7.6 million.
Digital businesses remain central: total digital revenue was $70.3 million, or 54.1% of revenue, while digital-only subscription revenue grew 5.3% to $22.7 million and digital-only subscribers reached 609,000. Cash was $12.6 million and long-term debt under the BH Finance term loan was $455.5 million.
After quarter-end, Lee closed a private placement of 16,000,000 shares at $3.25, raising about $50.0 million to support working capital and general purposes. A related credit amendment cut the term loan margin from 9.00% to 5.00% for five years and reset excess cash flow thresholds, easing near-term interest and liquidity pressure. Leadership changes accompanied the financing, with the CEO set to retire, the COO becoming Interim CEO, and a new Interim CFO appointed.
Lee Enterprises reported total operating revenue of $423.2 million for the nine months ended June 29, 2025, a 6.5% decline from the prior year, driven by continued print revenue declines. Digital revenue (digital advertising, digital subscriptions and digital services) grew 3.0% year-over-year and represented 52.9% of total revenue; digital-only subscribers totaled 670,000. Operating loss was $3.2 million for the nine months, and net loss widened to $29.9 million, or $5.16 per diluted share.
The company reported a material cybersecurity incident on February 3, 2025 that management estimates reduced revenue by more than $10 million, incurred $3.1 million of remediation expenses year-to-date (recorded in restructuring and other), and has led to putative class actions. Lee held $14.1 million in cash at June 29, 2025, reported Adjusted EBITDA of $30.3 million for the nine months, and carries a $455.9 million 25-year term loan at a 9% fixed rate (fair value $375.6 million). LEE had a stockholders' deficit of approximately $40.5 million at period end.