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. |
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
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 | ||||
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 | ||||