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Companies $DJCO
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Daily Journal Corp

dailyjournal.com

What Do They Do?

Supplies case-management software and related services to courts, prosecutors and other justice agencies. Publishes regional newspapers and websites for readers and sells public-notice advertising to advertisers.

How Do They Make Money?

Journal Technologies earns license, maintenance and support fees over service periods, often paid in advance; installation consulting fees are earned when work is completed, and website fees when it processes online filings and payments. Newspaper subscriptions are earned over their terms, advertising-service commissions when ads are published, and invoices are due within 30 days.

revenue
SegmentShareRevenue
Advertising
Sold outright

11%
FY2022: 16%
Subscription and Circulation
Recurring
4.9%
FY2022: 8.1%
Advertising Service Fees and Other
Sold outright
3.9%
FY2022: 5.4%
License and Maintenance
Recurring

36%
FY2022: 36%
Consulting Fees
Sold outright

26%
FY2022: 22%
Service, Other
Usage-based

18%
FY2022: 13%

Who Are Their Customers?

Justice agencies are Journal Technologies’ customers. Newspaper subscribers receive publications by mail or hand delivery, while law firms and businesses place ads, sometimes through advertising agencies or public-notice service providers.

Do Revenues Turn Into Profits?

Yes. Its net income in FY2025 was larger than its revenue and turned 15 cents into free cash flow.

Operating income, FY2025
11% of revenue
▲ +134% vs FY2024 ($4.1M, 6%)
Net income, FY2025
128% of revenue
▲ +44% vs FY2024 ($78.1M, 112%)
Free cash flow, FY2025
15% of revenue
▲ Now profitable vs FY2024 (−$138K, 0%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q3 FY2026, the three months to Jun 30, 2026
Revenue
▲ +15%
vs $23.4M in Q3 FY2025
Net income
▼ Now a loss
vs $14.4M in Q3 FY2025
License and Maintenance share of revenue vs 34.0% in Q3 FY2025

Growing. Revenue grew 76% in 4 years, from $49.9M in FY2021 to $87.7M in FY2025, about 15% a year.

Subscription software The older report described Journal Technologies’ products as licensed; the latest also describes them as subscribed to, adding subscriptions as a stated way customers obtain its products.

Revenue over time
Advertising Subscription and Circulation Advertising Service Fees and Other License and Maintenance Consulting Fees Service, Other
$100M$50M$0

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