EX-99.1 2 ex_902817.htm EXHIBIT 99.1 ex_902817.htm

Exhibit 99.1

 

Daily Journal Corporation Announces Fiscal Year 2025 Financial Results

 

Fiscal Year 2025 Achieves Annual Revenue of $87.7 Million,

Reflecting a 25% Increase Year Over Year

 

 

LOS ANGELES, Calif. December 29, 2025 – Daily Journal Corporation (Nasdaq: DJCO), a publishing and technology company, today announced financial results for the fiscal year ended September 30, 2025. Total consolidated revenue for fiscal year 2025 was $87.7 million, representing a 25% increase from the $69.9 million reported in fiscal year 2024, driven primarily by growth at Journal Technologies.

 

“Fiscal year 2025 was an exceptional year for Daily Journal Corporation, highlighted by record revenue and continued momentum at Journal Technologies,” said Steven Myhill-Jones, Chairman of the Board and Chief Executive Officer of Daily Journal Corporation. “Journal Technologies delivered strong growth across consulting, e-filing and other public service fees, and recurring license and maintenance revenues, as we continued investing in modernization and implementation capacity. While some of this year’s profitability benefited from contract timing and revenue recognition dynamics, we remain focused on expanding recurring revenue, maintaining low churn, and building long-term client relationships. We also see a blue ocean opportunity in the courts and justice agency sector for a company that consistently raises the bar, and we believe we are well positioned to create durable value over time.”

 

Financial Highlights:

 

 

Traditional Business reported advertising and circulation revenues of $17.8 million, reflecting a 6% increase over the $16.8 million in fiscal year 2024.

 

 

Journal Technologies reported revenue of $69.9 million for fiscal year 2025, marking a 32% increase over the $53.1 million recorded in fiscal year 2024. This growth was primarily driven by consulting fees, which rose by $7.6 million (51%), other public service fees, which increased by $5.7 million (59%), and license and maintenance fees, which grew by $3.5 million (12%).

 

 

Operating income for fiscal year 2025 was $9.5 million, or 10.9% of revenue, compared to $4.1 million, or 5.8% of revenue in fiscal year 2024.

 

 

Net income for fiscal year 2025 was $112.1 million, or $81.41 per diluted share, an increase of $34.0 million (44%) as compared to net income of $78.1 million, or $56.73 per diluted share, in fiscal year 2024.

 

 

The Company generated $13.3 million in operating cash flow during fiscal year 2025.

 

 

As of September 30, 2025, the Company’s marketable securities had a total fair market value of $493.0 million, including pretax unrealized gains of approximately $134.3 million for the twelve months ended September 30, 2025, and accumulated pretax unrealized gains of $353.9 million.

 

 

The Traditional Business continued to optimize its digital publishing operations, expanding online content offerings and streamlining workflows in response to evolving market demands.

 
 

Journal Technologies expanded its client base by securing 17 multi-year contracts with courts and government agencies.

 

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About Daily Journal Corporation

 

Daily Journal Corporation, based in Los Angeles, publishes news for California and Arizona, produces specialized publications, and handles public notice advertising. Its subsidiary, Journal Technologies, Inc., provides case management software to courts, justice agencies, and government organizations across about 37 states and internationally, supporting electronic case management and related online services like e-filing and fee payments.

 

Forward-looking Statements

 

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Certain statements contained in this press release are “forward-looking” statements that involve risks and uncertainties that may cause actual future events or results to differ materially from those described in the forward-looking statements. Words such as “expects,” “intends,” “anticipates,” “should,” “believes,” “will,” “plans,” “estimates,” “may,” variations of such words and similar expressions are intended to identify such forward-looking statements. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments, or otherwise. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to have been correct. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in documents we file with the Securities and Exchange Commission.

 

For further information please contact us at:  

ir@dailyjournal.com

 

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DAILY JOURNAL CORPORATION

CONSOLIDATED BALANCE SHEETS

(In thousands except share amounts)

 

 

   

September 30, 2025

   

September 30, 2024

 

ASSETS

               

Current assets:

               

Cash and cash equivalents

  $ 20,569     $ 12,986  

Restricted cash

    2,269       2,191  

Non-qualified deferred compensation plan – trust account asset value

    1,385       748  

Marketable securities at fair value

    492,995       358,691  

Accounts receivable, net

    21,011       19,219  

Prepaid expenses and other current assets

    959       660  

Total current assets

    539,188       394,495  

Property and equipment, net

    8,930       9,268  

Total assets

  $ 548,118     $ 403,763  
                 

LIABILITIES AND STOCKHOLDERS EQUITY

               

Current liabilities:

               

Accounts payable

  $ 7,071     $ 6,049  

Accrued liabilities

    12,518       8,517  

Note payable collateralized by real estate

    169       164  

Income taxes

    879        

Deferred subscriptions

    2,474       2,558  

Deferred consulting fees

    1,747       2,031  

Deferred maintenance agreements and others

    13,948       19,124  

Total current liabilities

    38,806       38,443  

Investment margin account borrowings

    22,000       27,500  

Long-term note payable collateralized by real estate

    787       956  

Long-term deferred maintenance agreements

    994       883  

Long-term accrued liabilities

    5,547       3,772  

Accrued non-qualified deferred compensation

    1,590       784  

Deferred income taxes

    87,333       52,641  

Total liabilities

    157,057       124,979  

Commitments and contingencies (Note 9)

               

Stockholders Equity

               

Common stock, $.01 par value, 5,000,000 shares authorized; 1,805,053 shares issued and outstanding, and 427,627 treasury shares, as of September 30, 2025, and 2024, respectively

    14       14  

Additional paid-in capital

    2,097       1,957  

Retained earnings

    388,950       276,813  

Total stockholders’ equity

    391,061       278,784  

Total liabilities and stockholders’ equity

  $ 548,118     $ 403,763  

 

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DAILY JOURNAL CORPORATION

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(in thousands, except share and per share amounts)

 

 

   

September 30, 2025

   

September 30, 2024

 

Revenues

               

Advertising

  $ 10,081     $ 9,325  

Circulation

    4,269       4,462  

Advertising service fees and other

    3,412       3,039  

Licensing and maintenance fees

    31,720       28,265  

Consulting fees

    22,735       15,086  

Other public service fees

    15,483       9,754  

Total revenues

    87,700       69,931  

Operating expenses:

               

Salaries and employee benefits

    51,551       47,178  

Stock-based compensation

    140       202  

Increase (decrease) to the long-term supplemental compensation accrual

    1,775       (495 )

Agency commissions

    1,277       1,146  

Outside services

    8,087       7,151  

Postage and delivery expenses

    774       752  

Newsprint and printing expenses

    639       669  

Equipment maintenance and software

    1,542       1,574  

Credit card merchant discount fees

    2,308       2,237  

Accounting and legal fees

    1,392       1,026  

Other general and administrative expenses

    4,687       4,421  

Total operating expenses

    78,172       65,861  

Income from operations

    9,528       4,070  

Other income (expenses)

               

Dividends and interest income

    7,459       7,102  

Net realized and unrealized gains on marketable securities

    134,304       96,142  

Net unrealized (losses) gains on non-qualified compensation plan

    64       47  

Interest expense

    (1,381 )     (3,087 )

Other income

    113       4  

Income before taxes

    150,087       104,278  

Income tax provision

    (37,950 )     (26,165 )

Net income and comprehensive income

  $ 112,137     $ 78,113  
                 

Weighted average number of common shares outstanding – basic

    1,377,426       1,377,026  

Basic net income per share

  $ 81.41     $ 56.73  
                 

Weighted average number of common shares outstanding – diluted

    1,377,503       1,377,026  

Diluted net income per share

  $ 81.41     $ 56.73  

 

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