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DallasNews Corporation Announces Fourth Quarter and Full Year 2024 Financial Results

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DallasNews (DALN) reported its Q4 and full-year 2024 financial results, marking a significant transition year with the sale of its $43.5 million printing facility. The company posted Q4 2024 net income of $4.0 million ($0.74 per share), including a $5.3 million non-cash tax benefit, compared to a net loss of $2.2 million in Q4 2023.

For full-year 2024, DALN reported net income of $0.1 million ($0.02 per share) versus a net loss of $7.1 million in 2023. Total revenue was $125.4 million, down 10.2% year-over-year. Digital-only subscription revenue increased 11.7%, while print circulation declined 4.8%. The company ended 2024 with $9.6 million in cash, no debt, and 526 employees (12.5% decrease from 2023).

The company's transition to a 90% smaller printing facility aims to improve efficiency and invest in digital assets. DALN has also regained compliance with Nasdaq's minimum stockholders' equity requirement, reporting $6.8 million in shareholders' equity as of December 31, 2024.

DallasNews (DALN) ha riportato i risultati finanziari del Q4 e dell'intero anno 2024, segnando un anno di transizione significativo con la vendita della sua struttura di stampa da 43,5 milioni di dollari. L'azienda ha registrato un reddito netto nel Q4 2024 di 4,0 milioni di dollari (0,74 dollari per azione), inclusi 5,3 milioni di dollari di benefici fiscali non monetari, rispetto a una perdita netta di 2,2 milioni di dollari nel Q4 2023.

Per l'intero anno 2024, DALN ha riportato un reddito netto di 0,1 milioni di dollari (0,02 dollari per azione) rispetto a una perdita netta di 7,1 milioni di dollari nel 2023. Il fatturato totale è stato di 125,4 milioni di dollari, in calo del 10,2% rispetto all'anno precedente. I ricavi da abbonamenti digitali sono aumentati dell'11,7%, mentre la circolazione della stampa è diminuita del 4,8%. L'azienda ha chiuso il 2024 con 9,6 milioni di dollari in contante, senza debiti e 526 dipendenti (un decremento del 12,5% rispetto al 2023).

La transizione dell'azienda verso una struttura di stampa ridotta del 90% mira a migliorare l'efficienza e investire in beni digitali. DALN ha anche riacquistato la conformità con il requisito minimo di patrimonio netto degli azionisti di Nasdaq, riportando 6,8 milioni di dollari di patrimonio netto al 31 dicembre 2024.

DallasNews (DALN) reportó sus resultados financieros del Q4 y del año completo 2024, marcando un año de transición significativo con la venta de su instalación de impresión de 43.5 millones de dólares. La compañía registró un ingreso neto de 4.0 millones de dólares (0.74 dólares por acción) en el Q4 2024, incluyendo un beneficio fiscal no monetario de 5.3 millones de dólares, en comparación con una pérdida neta de 2.2 millones de dólares en el Q4 2023.

Para el año completo 2024, DALN reportó un ingreso neto de 0.1 millones de dólares (0.02 dólares por acción) frente a una pérdida neta de 7.1 millones de dólares en 2023. Los ingresos totales fueron de 125.4 millones de dólares, una disminución del 10.2% interanual. Los ingresos por suscripciones solo digitales aumentaron un 11.7%, mientras que la circulación impresa disminuyó un 4.8%. La compañía cerró 2024 con 9.6 millones de dólares en efectivo, sin deudas y 526 empleados (una disminución del 12.5% en comparación con 2023).

La transición de la empresa a una instalación de impresión un 90% más pequeña tiene como objetivo mejorar la eficiencia e invertir en activos digitales. DALN también ha recuperado el cumplimiento con el requisito mínimo de patrimonio de accionistas de Nasdaq, reportando 6.8 millones de dólares en patrimonio de accionistas al 31 de diciembre de 2024.

달라스뉴스 (DALN)는 2024년 4분기 및 연간 재무 결과를 보고하며, 4,350만 달러 규모의 인쇄 시설 매각을 통해 중요한 전환점을 맞이했습니다. 이 회사는 2024년 4분기 순이익으로 400만 달러(주당 0.74달러)를 기록했으며, 여기에는 530만 달러의 비현금 세금 혜택이 포함되어 있습니다. 이는 2023년 4분기 순손실 220만 달러와 비교됩니다.

2024년 전체 연도에 대해 DALN은 순이익 10만 달러(주당 0.02달러)를 보고했으며, 이는 2023년의 순손실 710만 달러와 대조됩니다. 총 수익은 1억 2,540만 달러로, 전년 대비 10.2% 감소했습니다. 디지털 전용 구독 수익은 11.7% 증가했으며, 인쇄 유통은 4.8% 감소했습니다. 이 회사는 2024년을 현금 960만 달러, 부채 없음, 526명의 직원(2023년 대비 12.5% 감소)으로 마감했습니다.

회사의 90% 규모가 축소된 인쇄 시설로의 전환은 효율성을 개선하고 디지털 자산에 투자하기 위한 것입니다. DALN은 또한 2024년 12월 31일 기준으로 680만 달러의 주주 자본을 보고하며 나스닥의 최소 주주 자본 요건을 준수하게 되었습니다.

DallasNews (DALN) a annoncé ses résultats financiers du Q4 et de l'année complète 2024, marquant une année de transition significative avec la vente de son installation d'impression de 43,5 millions de dollars. L'entreprise a affiché un revenu net de 4,0 millions de dollars (0,74 dollar par action) pour le Q4 2024, incluant un avantage fiscal non monétaire de 5,3 millions de dollars, comparé à une perte nette de 2,2 millions de dollars pour le Q4 2023.

Pour l'année complète 2024, DALN a rapporté un revenu net de 0,1 million de dollars (0,02 dollar par action) contre une perte nette de 7,1 millions de dollars en 2023. Le chiffre d'affaires total s'est élevé à 125,4 millions de dollars, en baisse de 10,2 % par rapport à l'année précédente. Les revenus des abonnements numériques uniquement ont augmenté de 11,7 %, tandis que la circulation imprimée a diminué de 4,8 %. L'entreprise a terminé 2024 avec 9,6 millions de dollars en liquidités, sans dettes et 526 employés (une baisse de 12,5 % par rapport à 2023).

La transition de l'entreprise vers une installation d'impression réduite de 90 % vise à améliorer l'efficacité et à investir dans des actifs numériques. DALN a également retrouvé sa conformité avec l'exigence minimum de capitaux propres des actionnaires de Nasdaq, rapportant 6,8 millions de dollars de capitaux propres au 31 décembre 2024.

DallasNews (DALN) hat seine Finanzzahlen für das 4. Quartal und das gesamte Jahr 2024 veröffentlicht, was ein bedeutendes Übergangsjahr mit dem Verkauf seiner Druckerei im Wert von 43,5 Millionen Dollar markiert. Das Unternehmen verzeichnete im 4. Quartal 2024 einen Nettogewinn von 4,0 Millionen Dollar (0,74 Dollar pro Aktie), einschließlich eines nicht monetären Steuerbenefits von 5,3 Millionen Dollar, im Vergleich zu einem Nettoverlust von 2,2 Millionen Dollar im 4. Quartal 2023.

Für das gesamte Jahr 2024 meldete DALN einen Nettogewinn von 0,1 Millionen Dollar (0,02 Dollar pro Aktie) im Vergleich zu einem Nettoverlust von 7,1 Millionen Dollar im Jahr 2023. Der Gesamtumsatz betrug 125,4 Millionen Dollar, was einem Rückgang von 10,2 % im Jahresvergleich entspricht. Die Einnahmen aus digitalen Abonnements stiegen um 11,7 %, während die Druckauflage um 4,8 % zurückging. Das Unternehmen schloss das Jahr 2024 mit 9,6 Millionen Dollar in bar, ohne Schulden und 526 Mitarbeitern (ein Rückgang von 12,5 % im Vergleich zu 2023) ab.

Der Übergang des Unternehmens zu einer um 90 % verkleinerten Druckerei zielt darauf ab, die Effizienz zu steigern und in digitale Vermögenswerte zu investieren. DALN hat auch die Einhaltung der Mindestanforderung an das Eigenkapital der Aktionäre von Nasdaq wiedererlangt und meldete zum 31. Dezember 2024 ein Eigenkapital von 6,8 Millionen Dollar.

Positive
  • Sale of printing facility for $43.5 million strengthens financial position
  • Digital-only subscription revenue grew 11.7% in 2024
  • Marketing and media services revenue improved 6.5%
  • Return to profitability with $0.1 million net income in 2024 vs. $7.1 million loss in 2023
  • Regained Nasdaq compliance with $6.8 million in shareholders' equity
  • No debt and $9.6 million cash position
Negative
  • Total revenue declined 10.2% to $125.4 million in 2024
  • Print advertising revenue decreased 5.7%
  • Print circulation revenue declined 4.8%
  • Operating loss of $7.1 million for full-year 2024
  • 12.5% reduction in workforce
  • Commercial printing partnership canceled

Insights

DallasNews 's Q4 and full-year 2024 results demonstrate a strategic transformation in progress, with improved bottom-line performance despite ongoing revenue challenges. The company posted Q4 net income of $4.0 million ($0.74 per share) compared to a $2.2 million loss in Q4 2023, though this improvement was largely driven by a $5.3 million non-cash tax benefit from the sale of its printing facility.

The $43.5 million facility sale represents a pivotal transaction that resolved legacy pension liabilities while generating capital for digital investments. This strategic rightsizing - moving to a facility 90% smaller - should meaningfully improve operational efficiency over time.

Core revenue challenges persist across all segments: advertising/marketing services declined 10.3% in Q4, circulation fell 4.7%, and printing/distribution dropped 19.4%. For the full year, total revenue decreased 10.2% to $125.4 million. The silver lining is digital-only subscription revenue, which grew 11.7% for the year.

From an operational perspective, the company has made substantial progress reducing expenses, with full-year adjusted operating expense improving 10.8% to $127.0 million. With $9.6 million cash and zero debt, the balance sheet remains solid, and the company has regained Nasdaq compliance with shareholders' equity of $6.8 million.

This transformation exemplifies the challenging pivot traditional media companies must execute - shrinking legacy operations while developing digital capabilities. The trajectory suggests operational improvement, though sustainable growth remains contingent on accelerating digital revenue to offset print declines.

The restructuring underway at DallasNews reflects the existential challenge facing local news organizations nationwide - how to maintain quality journalism while fundamentally transforming business operations. The 90% facility reduction and associated headcount reductions (down 12.5% in 2024 with more cuts coming in 2025) represent difficult but necessary decisions to align cost structure with current market realities.

What's particularly significant is management's explicit commitment to reinvest proceeds from the printing facility sale into both digital assets and journalism. CEO Grant Moise directly connected operational changes to investing in the newsroom, highlighting investigative projects on toll roads and preventable bleeding deaths as examples of the company's journalistic impact.

The digital transformation is showing early signs of traction with 11.7% growth in digital-only subscriptions, though this represents a relatively modest revenue stream compared to traditional sources. Medium Giant, the company's advertising agency, appears to be delivering improved profitability, potentially offering diversification beyond core publishing operations.

The company's adjusted operating loss improvement ($1.6 million in 2024 versus $2.7 million in 2023) indicates progress toward sustainable operations, though revenue declines across all major categories remain concerning. The strategic decision to exit shared mail programs and discontinue print-only niche publications shows management's willingness to make tough choices to focus resources on core products.

This earnings report demonstrates both the painful realities facing legacy newspaper companies and a potentially viable path forward through strategic asset monetization, operational right-sizing, and targeted digital investments.

Recent Close of $43.5 Million Printing Facility Sale Resolves Legacy Pension Liabilities; Enhances Financial Position and Flexibility

DALLAS, March 17, 2025 (GLOBE NEWSWIRE) -- DallasNews Corporation (Nasdaq: DALN) (the “Company”), the Dallas-based holding company of The Dallas Morning News and Medium Giant, today reported financial results for the fourth quarter and full year 2024.

Grant Moise, Chief Executive Officer, said, “2024 was a significant year for the Company as we began the transition of our printing and distribution facility to one that is 90 percent smaller and significantly more efficient. This change provides the Company with a source of funds to invest back into our digital assets, while simultaneously moving us closer to sustainable profitability. These operational changes, also allow us to invest in our journalism, which is the heartbeat of our business. In 2024, our newsroom published ambitious projects ranging from Texas’ excessive use of toll roads to an investigative series about why tens of thousands of Americans die from preventable bleeding each year. Last, but not least, Medium Giant’s bottom line contribution to the Company has improved significantly, and we look forward to continued improvement in its profit margin.”

For the fourth quarter of 2024, the Company reported net income of $4.0 million, or $0.74 per share, and an operating loss of $1.8 million. The fourth quarter 2024 net income includes a non-cash tax benefit of $5.3 million resulting from a reduction in the valuation allowance for deferred tax assets. The deferred tax assets were determined to be realizable due to the income from the sale of the Company’s Plano, TX printing facility. In the fourth quarter of 2023, the Company reported a net loss of $2.2 million, or $(0.41) per share, and an operating loss of $2.5 million, which includes expense of $2.7 million related to the 2023 Voluntary Severance Program.

For the fourth quarter of 2024, on a non-GAAP basis, DallasNews reported an operating loss adjusted for certain items (“adjusted operating income (loss)”) of $1.3 million, a decrease of $1.9 million when compared to adjusted operating income of $0.6 million reported in the fourth quarter of 2023. The decline is primarily due to a total revenue decrease of $2.9 million, partially offset by expense savings of $0.6 million in employee compensation and benefits, and $0.5 million in newsprint.

For the full year 2024, the Company reported net income of $0.1 million, or $0.02 per share, and an operating loss of $7.1 million, which includes severance expense of $2.8 million for the anticipated headcount reductions resulting from the transition to a smaller, more efficient printing facility. The 2024 net income includes a non-cash tax benefit of $5.0 million, primarily resulting from a reduction in the valuation allowance for deferred tax assets. For the full year 2023, the Company reported a net loss of $7.1 million, or $(1.33) per share, and an operating loss of $8.1 million.

For the full year 2024, on a non-GAAP basis, the Company reported an adjusted operating loss of $1.6 million, an improvement of $1.1 million when compared to an adjusted operating loss of $2.7 million reported for the full year 2023.

The improvement is primarily due to expense savings of $6.5 million in distribution, $5.5 million in employee compensation and benefits expense, and $3.5 million in newsprint, partially offset by a total revenue decline of $14.3 million. The $6.5 million expense savings in distribution and total revenue decline of $14.3 million are primarily the result of the Company’s strategic decision to exit its shared mail program and discontinue print-only editions of its niche publications at the end of August 2023.

Fourth Quarter Results

Total revenue was $31.1 million in the fourth quarter of 2024, a decrease of $2.9 million or 8.5 percent when compared to the fourth quarter of 2023.

Revenue from advertising and marketing services, including print and digital revenues, was $11.5 million in the fourth quarter of 2024, a decrease of $1.3 million or 10.3 percent when compared to the $12.8 million reported for the fourth quarter of 2023. The decline is primarily due to a $1.1 million or 16.6 percent reduction in print advertising revenue.

Circulation revenue was $16.3 million in the fourth quarter of 2024, a decrease of $0.8 million or 4.7 percent when compared to the fourth quarter of 2023, primarily due to a $0.7 million or 5.5 percent decline in print circulation revenue, which includes the impact of additional single copy revenue generated in 2023 related to the Texas Rangers World Series win.

Printing, distribution and other revenue was $3.2 million, a decrease of $0.8 million or 19.4 percent when compared to the fourth quarter of 2023, primarily resulting from a canceled commercial printing partnership, and nonrecurring revenue generated in 2023 from Texas Rangers World Series product sales.

Total consolidated operating expense in the fourth quarter of 2024, on a GAAP basis, was $32.8 million, an improvement of $3.6 million or 9.9 percent when compared to the fourth quarter of 2023. The improvement is primarily due to expense savings of $3.3 million in employee compensation and benefits, including severance, and $0.5 million in newsprint.

On a non-GAAP basis, adjusted operating expense was $32.4 million, an improvement of $1.0 million or 2.9 percent when compared to the fourth quarter of 2023.

Full Year Results

Total revenue was $125.4 million for the full year 2024, a decrease of $14.3 million or 10.2 percent when compared to the full year 2023.

Revenue from advertising and marketing services, including print and digital revenues, was $47.9 million in 2024, a decrease of $11.1 million or 18.9 percent when compared to the $59.0 million reported for the full year 2023. Excluding the $10.7 million reduction in print advertising revenue resulting from the Company ending its shared mail program and print-only niche publications, print advertising revenue declined $1.4 million or 5.7 percent, partially offset by an improvement of $1.0 million or 6.5 percent in marketing and media services revenue, driven by two customer contracts that began in 2024.

Circulation revenue was $64.9 million for the full year 2024, a decrease of $0.5 million when compared to the full year 2023. The digital-only subscription revenue increase of $1.9 million or 11.7 percent, mostly offset the print circulation decline of $2.4 million or 4.8 percent.

Printing, distribution and other revenue decreased $2.7 million, or 17.7 percent, to $12.6 million, primarily due to reductions in revenue from commercial printing and distribution, including the loss of $0.9 million in revenue from a canceled commercial printing partnership, as well as a reduction in revenue from mailed advertisements for business customers.

Total consolidated operating expense for the full year 2024, on a GAAP basis, was $132.4 million, an improvement of $15.3 million or 10.4 percent compared to the full year 2023. The improvement is primarily due to expense savings of $6.5 million in distribution, $5.5 million in employee compensation and benefits expense, including severance, and $3.5 million in newsprint, partially offset by $0.5 million in additional lease expense related to moving to a smaller printing facility.

On a non-GAAP basis, adjusted operating expense was $127.0 million, an improvement of $15.4 million or 10.8 percent when compared to $142.4 million of adjusted operating expense in the full year 2023.

As of December 31, 2024, the Company had 526 employees, a headcount decrease of 75 or 12.5 percent when compared to the prior year period, not including employees departing in 2025 when the transition to the new printing facility is complete. Cash and cash equivalents were $9.6 million at December 31, 2024, and the Company has no debt.

Segment Information

The Company determined it has the following two reportable segments:

  • TDMN primarily generates revenue from subscriptions and retail sales of The Dallas Morning News, and sales of advertising within its newspaper and on related digital platforms by Medium Giant’s cross-functional sales team.
  • Agency generates revenue from the services offered by the Company’s full-service advertising agency, Medium Giant.

The primary measure of segment profitability utilized by the Chief Operating Decision Maker (“CODM”) is segment profit (loss), which excludes Corporate and Other costs that are not associated with the ongoing operations of the segments. Reconciliation of segment profit (loss) to consolidated operating loss, and disaggregated revenue by reportable segment and revenue source are included in the exhibits to this release.

Update on Nasdaq Compliance

The Company has reported shareholders’ equity of $6.8 million as of December 31, 2024. Accordingly, the Company was in compliance with the minimum stockholders’ equity continued listing standard set forth under Rule 5550(b)(1) of the Nasdaq Listing Rules (the “Stockholders’ Equity Requirement”) as of December 31, 2024 and believes that it is in compliance with the Stockholders’ Equity Requirement as of the date of this release.

Non-GAAP Financial Measures

The CODM uses adjusted operating income (loss) for the purposes of evaluating consolidated performance and allocating resources.

Reconciliations of operating loss to adjusted operating income (loss) and total operating costs and expense to adjusted operating expense are included in the exhibits to this release.

The Company calculates adjusted operating income (loss) by adjusting operating loss to exclude depreciation, severance expense, (gain) loss on sale/disposal of assets, and asset impairments (“adjusted operating income (loss)”). The Company believes that inclusion of certain noncash expenses and other items in the results makes for more difficult comparisons between years and with peer group companies.

Adjusted operating income (loss) is not a measure of financial performance under generally accepted accounting principles (“GAAP”). Management uses adjusted operating income (loss) and similar measures in internal analyses as supplemental measures of the Company’s financial performance, and for performance comparisons versus its peer group of companies. Management uses this non-GAAP financial measure for the purposes of evaluating consolidated Company performance. The Company therefore believes that the non-GAAP measure presented provides useful information to investors by allowing them to view the Company’s business through the eyes of management and the Board of Directors, facilitating comparison of results across historical periods and providing a focus on the underlying ongoing operating performance of its business. Adjusted operating income (loss) should not be considered in isolation or as a substitute for net income (loss), cash flows provided by (used for) operating activities or other comparable measures prepared in accordance with GAAP. Additionally, this non-GAAP measure may not be comparable to similarly-titled measures of other companies.

Financial Results Conference Call

DallasNews Corporation will conduct a conference call on Tuesday, March 18, 2025, at 9:00 a.m. CDT to discuss financial results. The conference call will be available via webcast by accessing the Company’s website at investor.dallasnewscorporation.com/events. An archive of the webcast will be available at dallasnewscorporation.com in the Investor Relations section.

To access the conference call, dial 1-800-715-9871 and provide the following access code when prompted: 4679948. A replay line will be available at 1-800-770-2030 until 11:59 p.m. CDT on April 1, 2025. The access code for the replay is 4679948#.

About DallasNews Corporation

DallasNews Corporation is the Dallas-based holding company of The Dallas Morning News and Medium Giant.

The Dallas Morning News, Texas’ leading daily newspaper, is renowned for its excellent journalistic reputation, intense regional focus, and close community ties. As a testament to its commitment to quality journalism, the publication has been honored with nine Pulitzer Prizes.

Medium Giant, an integrated creative marketing agency with offices in Dallas and Tulsa, works with a roster of premium brands and companies. In 2024, the agency earned top industry recognition, winning an AAF Addy and the AMA DFW Annual Marketer of the Year Award for Campaign of the Year, along with six prestigious Davey Awards. Medium Giant is a wholly owned business of DallasNews Corporation. For additional information, visit mediumgiant.co.

Statements in this communication concerning the Company’s planned transition of print operations; expense savings related to the transition, the Company’s business outlook or future economic performance, revenues, expenses, cash balance, investments, business initiatives, working capital, dividends, future financings, and other financial and non-financial items that are not historical facts are “forward-looking statements” as the term is defined under applicable federal securities laws. Words such as “anticipate,” “assume,” “believe,” “can,” “could,” “estimate,” “forecast,” “intend,” “expect,” “may,” “project,” “plan,” “seek,” “should,” “target,” “will,” “would” and their opposites and similar expressions are intended to identify forward-looking statements. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those statements. Such risks, trends and uncertainties are, in most instances, beyond the Company’s control, and include changes in advertising demand and other economic conditions; the timeline for transitioning print operations; consumers’ tastes; newsprint and distribution prices; program costs; the Company’s ability to successfully execute the Return to Growth Plan; the Company’s ability to maintain compliance with the continued listing requirements of The Nasdaq Capital Market; the success of the Company’s digital strategy; labor relations; cybersecurity incidents; and technological obsolescence. Among other risks, there can be no guarantee that the Company’s board of directors will approve a quarterly dividend in the future or that the Company’s financial projections are accurate, as well as other risks described in the Company’s Annual Report on Form 10-K and in the Company’s other public disclosures and filings with the Securities and Exchange Commission. Forward-looking statements, which are as of the date of this communication, are not updated to reflect events or circumstances after the date of the statement.

Contact:
Katy Murray
214-977-8869
KMurray@dallasnews.com


DallasNews Corporation and Subsidiaries
Consolidated Statements of Operations

            
            
 Three Months Ended December 31, Years Ended December 31,
In thousands, except share and per share amounts (unaudited)2024  2023  2024  2023 
Net Operating Revenue:           
Advertising and marketing services$11,493  $12,807  $47,900  $59,038 
Circulation 16,348   17,148   64,891   65,349 
Printing, distribution and other 3,247   4,028   12,600   15,309 
Total net operating revenue 31,088   33,983   125,391   139,696 
Operating Costs and Expense:           
Employee compensation and benefits 15,020   18,271   63,923   69,445 
Other production, distribution and operating costs 16,060   15,909   61,663   68,008 
Newsprint, ink and other supplies 1,369   1,881   5,256   8,793 
Depreciation 391   402   1,607   1,520 
Total operating costs and expense 32,840   36,463   132,449   147,766 
Operating loss (1,752)  (2,480)  (7,058)  (8,070)
Other income, net 445   340   2,233   1,422 
Loss Before Income Taxes (1,307)  (2,140)  (4,825)  (6,648)
Income tax provision (benefit) (5,278)  67   (4,956)  464 
Net Income (Loss)$3,971  $(2,207) $131  $(7,112)
            
Per Share Basis (1)           
Net income (loss)           
Basic$0.74  $(0.41) $0.02  $(1.33)
Diluted$0.74  $(0.41) $0.02  $(1.33)
Number of common shares used in the per share calculation:           
Basic 5,352,490   5,352,490   5,352,490   5,352,490 
Diluted 5,352,490   5,352,490   5,352,490   5,352,490 

(1)  The Company’s Series A and Series B common stock equally share in the distributed and undistributed earnings. There were no options or RSUs outstanding as of December 31, 2024 and 2023, that would result in dilution of shares or the calculation of EPS under the two-class method as prescribed under ASC 260 – Earnings Per Share.


DallasNews Corporation and Subsidiaries
Consolidated Balance Sheets

        
        
 December 31, December 31,
In thousands (unaudited)2024 2023
Assets       
Current assets:       
Cash and cash equivalents$9,594  $11,697 
Short-term investments    10,781 
Accounts receivable, net 10,662   9,923 
Other current assets 4,087   4,532 
Total current assets 24,343   36,933 
Property, plant and equipment, net 12,633   7,099 
Operating lease right-of-use assets 17,434   16,141 
Deferred income taxes, net 5,609   271 
Other assets 1,824   1,790 
Total assets$61,843  $62,234 
Liabilities and Shareholders’ Equity       
Current liabilities:       
Accounts payable$4,808  $3,963 
Accrued compensation and other current liabilities 11,498   10,449 
Contract liabilities 8,689   9,511 
Total current liabilities 24,995   23,923 
Long-term pension liabilities 11,764   17,353 
Long-term operating lease liabilities 17,379   16,924 
Other liabilities 892   1,076 
Total liabilities 55,030   59,276 
Commitments and contingencies       
Total shareholders' equity 6,813   2,958 
Total liabilities and shareholders’ equity$61,843  $62,234 



DallasNews Corporation and Subsidiaries
Disaggregated Revenue by Reportable Segment and Revenue Source

 
 
 Three Months Ended December 31, Years Ended December 31,
In thousands (unaudited)2024 2023 2024 2023
TDMN               
Print advertising(1)$5,313  $6,373  $22,914  $35,045 
Digital advertising(2) 2,245   2,194   8,633   8,634 
Agency               
Marketing and media services(2) 3,935   4,240   16,353   15,359 
Advertising and Marketing Services$11,493  $12,807  $47,900  $59,038 
                
TDMN               
Print circulation 11,852   12,545   46,671   49,034 
Digital circulation 4,496   4,603   18,220   16,315 
Circulation$16,348  $17,148  $64,891  $65,349 
                
TDMN 3,247   4,028   12,600   14,884 
Agency          425 
Printing, Distribution and Other$3,247  $4,028  $12,600  $15,309 
                
Total Revenue$31,088  $33,983  $125,391  $139,696 

(1)  The year ended December 31, 2023, includes $10,748 of revenue generated from the Company’s shared mail program to deliver weekly preprints, as well as advertising in the print-only editions of its niche publications. At the end of August 2023, the Company made the strategic decisions to exit its shared mail program and discontinue print-only editions of its niche publications.
(2)  Prior to the segment reporting change, digital advertising, and marketing and media services revenues were reported in aggregate.


DallasNews Corporation
Reconciliation of Segment Profit (Loss) to Operating Loss

 
 
 Three Months Ended December 31, Years Ended December 31,
In thousands (unaudited)2024  2023  2024  2023 
TDMN           
Net operating revenue$27,153  $29,743  $109,038  $123,912 
            
Employee compensation and benefits 10,520   11,055   41,682   46,169 
Other production, distribution and operating costs 11,702   11,668   42,746   50,773 
Newsprint, ink and other supplies 1,250   1,586   4,606   8,341 
Operating costs and expense 23,472   24,309   89,034   105,283 
TDMN Segment Profit$3,681  $5,434  $20,004  $18,629 
            
Agency           
Net operating revenue$3,935  $4,240  $16,353  $15,784 
            
Employee compensation and benefits 2,067   2,323   8,720   9,877 
Other production, distribution and operating costs 1,672   1,452   7,232   6,901 
Newsprint, ink and other supplies 119   295   650   452 
Operating costs and expense 3,858   4,070   16,602   17,230 
Agency Segment Profit (Loss)$77  $170  $(249) $(1,446)
            
Total Segment Profit$3,758  $5,604  $19,755  $17,183 
Reconciling items:           
Corporate and Other (5,510)  (8,084)  (26,813)  (25,253)
Operating Loss$(1,752) $(2,480) $(7,058) $(8,070)



DallasNews Corporation - Non-GAAP Financial Measures
Reconciliation of Operating Loss to Adjusted Operating Income (Loss)

 
 
 Three Months Ended December 31, Years Ended December 31,
In thousands (unaudited)2024  2023  2024  2023 
Total net operating revenue$31,088  $33,983  $125,391  $139,696 
Total operating costs and expense 32,840   36,463   132,449   147,766 
Operating Loss$(1,752) $(2,480) $(7,058) $(8,070)
            
Total operating costs and expense$32,840  $36,463  $132,449  $147,766 
Less:           
Depreciation 391   402   1,607   1,520 
Severance expense 45   2,673   3,803   3,834 
Adjusted Operating Expense$32,404  $33,388  $127,039  $142,412 
            
Total net operating revenue$31,088  $33,983  $125,391  $139,696 
Adjusted operating expense 32,404   33,388   127,039   142,412 
Adjusted Operating Income (Loss)$(1,316) $595  $(1,648) $(2,716)

FAQ

What was DallasNews 's (DALN) net income for Q4 2024?

DALN reported Q4 2024 net income of $4.0 million ($0.74 per share), including a $5.3 million non-cash tax benefit.

How much did DALN's digital subscription revenue grow in 2024?

Digital-only subscription revenue increased by 11.7% in 2024.

What was the value of DALN's printing facility sale?

The company sold its Plano, TX printing facility for $43.5 million.

How did DALN's total revenue change in 2024 compared to 2023?

Total revenue decreased by 14.3 million (10.2%) to $125.4 million in 2024 compared to 2023.

What is DALN's current cash position and debt status as of December 2024?

The company had $9.6 million in cash and zero debt as of December 31, 2024.
Dallasnews Corporation

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