Form 8-K

8-K — DAILY JOURNAL CORP

Accession: 0001437749-26-017058

Filed: 2026-05-14

Period: 2026-05-14

CIK: 0000783412

SIC: 2711 (NEWSPAPERS: PUBLISHING OR PUBLISHING & PRINTING)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — djco20260505_8k.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (ex_957193.htm)

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8-K — FORM 8-K

8-K (Primary)

Filename: djco20260505_8k.htm · Sequence: 1

djco20260505_8k.htm

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0000783412

2026-05-14

FORM 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

The Securities Exchange Act of 1934

Date of report (Date of earliest event reported): May 14, 2026

DAILY JOURNAL CORPORATION

(Exact Name of Registrant as Specified in Its Charter)

South Carolina

(State or Other Jurisdiction of Incorporation)

0-14665

95-4133299

(Commission File Number)

(IRS Employer Identification No.)

915 E. First Street

Los Angeles, CA

90012

(Address of Principal Executive Offices)

(Zip Code)

(213) 229-5300

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)

☐

Pre -commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))

☐

Pre -commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $.01 per share

DJCO

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On May 14, 2026, Daily Journal Corporation (the “Company”) announced its financial results for the three and six months ended March 31, 2026 and provided recent business highlights. A copy of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information contained in Item 2.02 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly provided by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.

Description

99.1

Press release issued by Daily Journal Corporation dated May 14, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

[SIGNATURE PAGE FOLLOWS]

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

DAILY JOURNAL CORPORATION

Dated: May 14, 2026

By: /s/ Erik Nakamura

Erik Nakamura

Chief Financial Officer

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: ex_957193.htm · Sequence: 2

ex_957193.htm

Exhibit 99.1

Daily Journal Corporation Announces Second Quarter and First Half Fiscal 2026 Financial Results

Second Quarter Fiscal 2026 Total Revenue of $22.7 Million, Reflecting a 25% Increase

Year Over Year

First Half Fiscal 2026 Total Revenue of $42.3 Million, Reflecting

an 18% Increase Year Over Year

LOS ANGELES, Calif. – May 14, 2026 – Daily Journal Corporation (Nasdaq: DJCO), a publishing and technology company, today announced financial results for the three and six months ended March 31, 2026. Total consolidated revenue for the second quarter of fiscal 2026 was $22.7 million, representing a 25.0% increase from the $18.2 million reported in the prior-year quarter, driven primarily by strong growth at Journal Technologies, Inc. (JTI). Total consolidated revenue for the first half of fiscal 2026 was $42.3 million, a 17.8% increase from $35.9 million in the prior-year period.

“Journal Technologies delivered strong revenue growth in the second quarter, with total JTI revenue increasing 32% year over year, reflecting continued expansion of e-filing and public service fees, higher recurring license and maintenance revenues, and increased consulting activity,” said Steven Myhill-Jones, Chairman of the Board and Chief Executive Officer of Daily Journal Corporation. “For the first half of fiscal 2026, JTI revenue grew 22% over the prior-year period. Income from operations improved significantly in both the quarter and the first half, reflecting the operating leverage in our technology business as it continues to scale. As always, our consolidated reported net results were materially impacted by mark-to-market changes in our investment portfolio, which reflects broad market movements rather than the underlying performance of our operating businesses.”

Financial Highlights:

●

Total consolidated revenue for the three months ended March 31, 2026 was $22.7 million, representing a 25.0% increase from the $18.2 million reported in the prior-year quarter.

●

Journal Technologies reported revenue of $18.2 million for the three months ended March 31, 2026, a 32.2% increase from the $13.8 million reported in the prior-year quarter. Growth was driven by increases in other public service fees, consulting fees, and license and maintenance fees. For the six months ended March 31, 2026, Journal Technologies revenue was $33.4 million, a 22.0% increase from $27.4 million in the prior-year period.

●

The Traditional Business reported advertising and circulation revenues of $4.5 million for the three months ended March 31, 2026, a 2.3% increase from $4.4 million in the prior-year quarter. For the six months ended March 31, 2026, Traditional Business revenue was $8.8 million, a 4.2% increase from $8.5 million in the prior-year period.

●

Income from operations for the three months ended March 31, 2026 was $3.0 million, compared to $1.0 million in the prior-year quarter, reflecting strong revenue growth and operating leverage. For the six months ended March 31, 2026, income from operations was $3.5 million, compared to $1.7 million in the prior-year period.

●

Net loss for the three months ended March 31, 2026 was $34.6 million, or ($25.14) per basic and diluted share, compared to net income of $44.7 million, or $32.43 per basic and diluted share, in the prior-year quarter. The year-over-year change was primarily driven by net unrealized losses on marketable securities of $51.2 million, representing a pre-tax impact of approximately ($37.17) per basic and diluted share, compared to net unrealized gains of $59.4 million in the prior-year quarter, representing a pre-tax gain of approximately $43.11 per basic and diluted share.

●

Net loss for the six months ended March 31, 2026 was $42.6 million, or ($30.93) per basic and diluted share, compared to net income of $55.6 million, or $40.34 per basic and diluted share, in the prior-year period. The year-over-year change was primarily driven by net unrealized losses on marketable securities of $62.9 million in the current period, representing a pre-tax impact of approximately ($45.6) per basic and diluted share, compared to net unrealized gains of $72.8 million in the prior-year period, representing a pre-tax gain of approximately $52.9 per basic and diluted share.

●

As of March 31, 2026, the Company’s marketable securities had a total fair market value of $430.1 million and included accumulated pretax unrealized gains of $291.0 million.

●

Net cash used in operating activities during the three months ended March 31, 2026 was $2.2 million, compared to net cash provided by operating activities of $1.6 million during the prior-year quarter.

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

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In thousands except share amounts)

March 31, 2026

September 30, 2025

ASSETS

Current assets:

Cash and cash equivalents

20,579

20,569

Restricted cash

2,309

2,269

Marketable securities at fair value

430,108

492,995

Accounts receivable, net

13,609

21,011

Prepaid expenses and other current assets

2,236

959

Assets held for sale

3,461

—

Total current assets

472,302

537,803

Property and equipment, net

5,431

8,930

Non-qualified deferred compensation plan – trust account asset value

2,207

1,385

Total assets

479,940

548,118

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

7,736

7,071

Accrued liabilities

6,044

12,518

Note payable collateralized by real estate

171

169

Income taxes payable

278

879

Deferred revenue

16,394

18,169

Total current liabilities

30,623

38,806

Investment margin account borrowings

20,000

22,000

Long-term note payable collateralized by real estate

701

787

Long-term deferred revenue

835

994

Long-term accrued liabilities

4,486

5,547

Accrued non-qualified deferred compensation

2,239

1,590

Deferred income taxes

72,540

87,333

Total liabilities

131,424

157,057

Commitments and contingencies (Note 8)

Stockholders’ Equity

Common stock, $0.01 par value; 5,000,000 shares authorized; 1,805,149 and 1,805,053 shares issued, and 427,427 and 427,627 treasury shares, and 1,377,722 and 1,377,426 shares outstanding as of March 31, 2026 and September 30, 2025, respectively.

Additional paid-in capital

2,178

2,097

Accumulated other comprehensive loss

)

—

Retained earnings

346,333

388,950

Total stockholders’ equity

348,516

391,061

Total liabilities and stockholders’ equity

479,940

548,118

DAILY JOURNAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)

(in thousands, except share and per share amounts)

Three Months Ended March 31,

Six Months Ended March 31,

2026

2025

2026

2025

Revenues

Advertising

3,377

3,333

6,642

6,344

Circulation

1,102

1,047

2,187

2,127

Licensing and maintenance fees

8,531

7,501

17,038

15,026

Consulting fees

4,914

2,664

7,074

5,263

Other public service fees

4,793

3,631

9,314

7,120

Total revenues

22,717

18,176

42,255

35,880

Operating expenses:

Salaries and employee benefits

13,068

12,321

26,039

24,196

Agency commissions

335

385

663

684

Outside services

1,735

1,802

4,311

3,612

Postage and delivery expenses

333

185

524

384

Newsprint and printing expenses

150

191

314

355

Equipment maintenance and software

113

441

276

1,043

Credit card merchant discount fees

626

528

1,226

1,093

Other general and administrative expenses

3,368

1,360

5,436

2,808

Total operating expenses

19,728

17,213

38,789

34,175

Income from operations

2,989

963

3,466

1,705

Other income (expenses)

Dividends and interest income

1,303

1,178

2,605

2,362

Net unrealized gains (losses) on marketable securities

(51,208

)

59,386

(62,887

)

72,799

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

)

(53

)

Interest expense

(208

)

(351

)

(463

)

(745

)

Other income

Income (loss) before taxes

(47,004

)

61,270

(57,101

)

76,165

Income tax benefit (expense)

12,364

(16,600

)

14,484

(20,600

)

Net income (loss)

(34,640

)

44,670

(42,617

)

55,565

Other comprehensive loss:

Foreign currency translation adjustments

)

—

)

—

Net income (loss) and comprehensive income (loss)

(34,649

)

44,670

(42,626

)

55,565

Earnings (losses) per share:

Basic

(25.14

)

32.43

(30.93

)

40.34

Diluted

(25.14

)

32.43

(30.93

)

40.34

Shares used in computing earnings (losses) per share:

Basic

1,377,722

1,377,426

1,377,722

1,377,268

Diluted

1,377,722

1,377,426

1,377,722

1,377,268

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