XML 21 R9.htm IDEA: XBRL DOCUMENT v3.25.1
Revenues
3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenues
NOTE 2 — Revenues

Revenues are recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services.

The Company's condensed consolidated statements of operations and comprehensive income (loss) present revenues disaggregated by revenue type. Sales taxes and other usage-based taxes are excluded from revenues.
The following tables present our revenues disaggregated by segment and revenue type:

Three months ended March 31, 2025
In thousandsDomestic Gannett MediaNewsquestDigital Marketing SolutionsCorporate and otherIntersegment eliminationsConsolidated
Digital advertising$71,454 $11,917 $— $— $— $83,371 
Digital marketing services32,758 1,870 108,709 — (34,533)108,804 
Digital-only subscription41,266 1,993 — — — 43,259 
Digital other
10,573 2,908 — 1,479 — 14,960 
Digital156,051 18,688 108,709 1,479 (34,533)250,394 
Print advertising105,175 17,453 — — — 122,628 
Print circulation133,204 15,846 — — — 149,050 
Commercial and other(a)
45,640 3,861 — — — 49,501 
Print and commercial284,019 37,160    321,179 
Total revenues(b)
$440,070 $55,848 $108,709 $1,479 $(34,533)$571,573 
(a)     For the three months ended March 31, 2025, included Commercial printing and delivery revenues of $29.8 million and $2.4 million at the Domestic Gannett Media and Newsquest segments, respectively.
(b)     Revenues generated from international operations comprised 11.5% of total revenues for the three months ended March 31, 2025.
Three months ended March 31, 2024
In thousandsDomestic Gannett MediaNewsquestDigital Marketing SolutionsCorporate and otherIntersegment eliminationsConsolidated
Digital advertising$70,941 $13,525 $— $— $— $84,466 
Digital marketing services36,086 2,088 117,045 — (38,805)116,414 
Digital-only subscription41,911 1,568 — — — 43,479 
Digital other
18,797 2,739 — 1,604 — 23,140 
Digital167,735 19,920 117,045 1,604 (38,805)267,499 
Print advertising115,619 19,057 — — — 134,676 
Print circulation156,246 17,077 — — — 173,323 
Commercial and other(a)
56,119 4,144 — — — 60,263 
Print and commercial327,984 40,278    368,262 
Total revenues(b)
$495,719 $60,198 $117,045 $1,604 $(38,805)$635,761 
(a)     For the three months ended March 31, 2024, included Commercial printing and delivery revenues of $40.5 million and $2.5 million at the Domestic Gannett Media and Newsquest segments, respectively.
(b)     Revenues generated from international operations comprised 11.0% of total revenues for the three months ended March 31, 2024.
Deferred revenues
The Company records deferred revenues when cash payments are received in advance of the Company's performance obligation. The Company's primary source of deferred revenues is from circulation subscriptions paid in advance of the service provided, which represents future delivery of publications (the performance obligation) to subscription customers. The Company expects to recognize the revenue related to unsatisfied performance obligations over the next one to twelve months in accordance with the terms of the subscriptions.

The Company's payment terms vary by the type and location of the customer and the products or services offered. The period between invoicing and when payment is due is not significant. For certain products or services and customer types, the Company requires payment before the products or services are delivered to the customer. The majority of our subscription customers are billed and pay on monthly terms.

The following table presents the change in the deferred revenues balance:

Three months ended March 31,
In thousands20252024
Beginning balance$108,000 $120,502 
Receipts, net of refunds235,720 276,597 
Revenue recognized(231,140)(277,590)
Ending balance$112,580 $119,509