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Lee Enterprises Reports Fourth Quarter and Full Year FY25 Results

Lee Enterprises, Incorporated (LEE) | November 26, 2025

By Oscar Wright

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Lee Enterprises reported strong financial results for the fourth quarter and full year of fiscal year 2025.

Digital revenue accounted for a significant portion of total revenue, with digital-only subscription revenue showing yearly growth.

Operating expenses decreased compared to the prior year, contributing to improved profitability.

Digital Subscription Revenue Increase

Digital-only subscription revenue increased by 16% year over year, marking five consecutive years of industry-leading performance.

Adjusted EBITDA Growth

Lee Enterprises achieved growth in Adjusted EBITDA for the fourth quarter, highlighting sustainable transformation and profitability gains.

Digital Transformation Momentum

The company's momentum in digital subscriptions and digital services positions it well for continued growth in fiscal year 2026.

  • Total Digital Revenue accounted for 53% of total operating revenue in the fourth quarter, reflecting a strategic focus on digital platforms.
  • Operating expenses and Cash Costs decreased, contributing to a more efficient cost structure and profitability.
  • Digital advertising and marketing services revenue showed strong performance, supported by Amplified Digital ® Agency's growth.

Lee Enterprises' strong performance in digital revenue and profitability demonstrates the success of its digital-first strategy and transformation efforts. With a solid outlook for fiscal year 2026, the company is poised for continued growth and value creation in the digital landscape.