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Quad Reports First Quarter 2026 Results

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Financial Results In-Line with Expectations and Reaffirms Full-Year 2026 Financial Guidance

SUSSEX, Wis., April 28, 2026 /PRNewswire/ — Quad/Graphics, Inc. (NYSE: QUAD) (“Quad” or the “Company”), a marketing experience company that solves complex marketing challenges for its clients, today reported results for the first quarter ended March 31, 2026.

Recent Highlights

Realized Net Sales of $581 million in the first quarter of 2026 compared to $629 million in the first quarter of 2025, representing a 7.7% decline in Net Sales or a 4.3% decline in Net Sales excluding the February 28, 2025, divestiture of the Company’s European operations.Recognized Net Earnings of $6 million, or $0.13 Diluted Earnings Per Share, in the first quarter of 2026, compared to Net Earnings of $6 million, or $0.11 Diluted Earnings Per Share, in 2025.Reported Adjusted EBITDA of $45 million in the first quarter of 2026 compared to $46 million in 2025.Achieved $0.25 Adjusted Diluted Earnings Per Share in the first quarter of 2026, an increase of 25% from $0.20 per share in 2025.Recognized at the Gramercy Institute’s Financial Service Strategy Awards, demonstrating impact of Quad’s integrated direct marketing work.Repurchased 0.2 million shares of Quad Class A common stock in 2026, bringing total repurchases to 7.6 million shares since initiating the program in 2022, representing approximately 13.6% of shares outstanding as of March 31, 2022.Returned $7 million to shareholders through $6 million of regular cash dividends and $1 million of share repurchases.Declared quarterly dividend of $0.10 per share payable June 5, 2026.Reaffirms full-year 2026 financial guidance.

Joel Quadracci, Chairman and Chief Executive Officer of Quad, said: “Our first quarter results were in-line with our expectations, and we remain on track to achieve our full-year 2026 guidance. We remain focused on achieving our long-term growth and margin objectives while maintaining disciplined cost management despite macroeconomic challenges, including continued postage rate increases and cost pressures in our supply chain stemming from the ongoing conflict in the Middle East.

“We are making strategic investments in innovative marketing solutions and high-caliber talent to expand our offering and strengthen client relationships. We are seeing strong momentum in Quad’s audience strategy services, powered by our proprietary, household-based data stack. Our formalized Direct Marketing Agency combines audience services with pre-market testing and analysis to drive more effective mail prospecting. Similarly, our Rise media agency brings together data-driven intelligence with AI-powered insights to deliver customized omnichannel media strategies that help clients achieve measurable business outcomes.

“Operationally, we are providing clients with multiple optimization solutions, including advanced co-mailing capabilities, to generate significant savings that help reduce the impact of rising postage costs. We are further strengthening our cost structure by investing in automation and adopting AI-enabled tools, which are improving productivity, speed and agility across our platform. These efforts further differentiate Quad in a competitive marketplace.”

Added Tony Staniak, Chief Financial Officer and Treasurer of Quad: “We are reaffirming our 2026 full-year financial guidance with an improved sales decline rate and essentially flat Adjusted EBITDA and Free Cash Flow compared to 2025, representing a key step on our path to long-term growth. We are closely monitoring the current business climate which continues to present uncertainty, driven by factors including persistent inflationary pressures, evolving global trade dynamics, geopolitical tensions and cautious business spending. As we have demonstrated in prior periods of disruption, we remain agile and ready to adapt to shifting demand. While allocating capital to fuel long-term growth, we are also returning capital to shareholders through our quarterly dividend of $0.10 per share and we have repurchased $1 million of Quad shares year-to-date. We expect to remain opportunistic in terms of future share repurchases.”

First Quarter 2026 Financial Results

Net Sales were $581 million in the first quarter of 2026, a decrease of 7.7% compared to the same period in 2025. Excluding the 3.4% impact of the divestiture of the Company’s European operations, Net Sales declined 4.3%. The decline in Net Sales was primarily due to lower print volumes and lower agency solutions sales.

Net Earnings were $6 million, or $0.13 Diluted Earnings Per Share, in the first quarter of 2026 compared to $6 million, or $0.11 Diluted Earnings Per Share, in the first quarter of 2025. The improvement was primarily due to lower selling, general and administrative expenses, lower interest expense, lower depreciation and amortization, and benefits from increased manufacturing productivity, partially offset by the impact from lower Net Sales, increased restructuring, impairment and transaction-related charges, net, and increased income tax expense. Diluted Earnings Per Share were also higher due to the impact of share repurchases and lower dilutive equity incentive instruments.

Adjusted EBITDA was $45 million in the first quarter of 2026, compared to $46 million in the same period in 2025. The decrease was primarily due to the impact of lower Net Sales partially offset by lower selling, general and administrative expenses, and benefits from improved manufacturing productivity.

Adjusted Diluted Earnings Per Share was $0.25 in the first quarter of 2026, as compared to $0.20 in the first quarter of 2025.

Net Cash Used in Operating Activities was $94 million in the first quarter of 2026, compared to $89 million in the first quarter of 2025. Free Cash Flow was negative $107 million in the first quarter of 2026 compared to negative $100 million in the first quarter of 2025. The decline in Free Cash Flow was primarily due to the increase in Net Cash Used in Operating Activities mainly from higher inventories and a $2 million increase in capital expenditures. As a reminder, the Company historically generates most of its Free Cash Flow in the fourth quarter of the year.

Net Debt was $427 million at March 31, 2026, as compared to $308 million at December 31, 2025, and $463 million at March 31, 2025. Compared to December 31, 2025, Net Debt increased primarily due to the negative $107 million Free Cash Flow in the first quarter of 2026.

Dividend

Quad’s next quarterly dividend of $0.10 per share will be payable on June 5, 2026, to shareholders of record as of May 21, 2026.

2026 Guidance

The Company’s full-year 2026 financial guidance is unchanged and is as follows: 

Financial Metric

2026 Guidance Range

Adjusted Annual Net Sales Change (1)

1% to 5% decline

Full-Year Adjusted EBITDA

$175 million to $215 million

Free Cash Flow

$40 million to $60 million

Capital Expenditures

$55 million to $65 million

Year-End Net Debt Leverage Ratio (2)

Approximately 1.5x

(1) Adjusted Annual Net Sales Change excludes the 2025 Net Sales of $23 million from the Company’s European operations, divested on February 28, 2025.

(2) Net Debt Leverage Ratio is calculated at the midpoint of the Adjusted EBITDA guidance.

Conference Call and Webcast Information

Quad will hold a live webcast and conference call to discuss the results on Wednesday, April 29, 2026, at 8:30 a.m. ET. 

Those wishing to participate via the webcast should access the call through the investor relations section of Quad’s website at quad.com/investor-relations. Those wishing to participate via telephone may dial in at 877-328-5508 (USA) or 412-317-5424 (International). Participants may pre-register for the conference call at https://dpregister.com/sreg/10207595/1039c288a66.

The webcast replay will be available through the investor relations section of Quad’s website.

About Quad

Quad (NYSE: QUAD) is a marketing experience, or MX, company that helps brands make direct consumer connections, from household to in-store to online. The company does this through its MX Solutions Suite, a comprehensive range of marketing and print services that seamlessly integrate creative, production and media solutions across online and offline channels. Supported by state-of-the-art technology and data-driven intelligence, Quad simplifies the complexities of marketing by removing friction wherever it occurs along the marketing journey. The company tailors its uniquely flexible, scalable and connected solutions to each client’s objectives, driving cost efficiencies, improving speed-to-market, strengthening marketing effectiveness and delivering value on client investments.

Quad employs approximately 10,000 people in 10 countries and serves approximately 2,100 clients including industry leading blue-chip companies that serve both businesses and consumers in multiple industry verticals, with a particular focus on commerce, including retail, consumer packaged goods, and direct-to-consumer; financial services; and health. Quad is ranked among the largest agency companies in the U.S. by Ad Age, buoyed by its full-service media agency, Rise, and creative agency, Betty. Quad is also one of the largest commercial printers in North America, according to Printing Impressions.

For more information about Quad, including its commitment to operating responsibly, intentional innovation and values-driven culture, visit quad.com.

Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, our current expectations about the Company’s future results, financial condition, sales, earnings, free cash flow, capital expenditures, leverage, margins, objectives, goals, strategies, beliefs, intentions, plans, estimates, prospects, projections and outlook of the Company, including information under the heading “2026 Guidance,” and can generally be identified by the use of words or phrases such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “plan,” “foresee,” “project,” “believe,” or “continue” or the negatives of these terms, variations on them and other similar expressions. These forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause actual results to be materially different from those expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company’s expectations and judgments and are subject to a number of risks and uncertainties, many of which are unforeseeable and beyond our control.

The factors that could cause actual results to materially differ include, among others: the impact of increased business complexity as a result of the Company’s transformation to a marketing experience company, including adapting marketing offerings and business processes as required by new markets; the impact of decreasing demand for printing services and significant overcapacity in a highly competitive environment creating downward pricing pressures and potential under-utilization of assets; the impact of changes in postal rates, service levels or regulations; the impact of rapid changes in technology, including artificial intelligence, and the risk the Company is unable to adapt its marketing offerings to compete in this technology-driven environment; the impact of increases in its operating costs, including the cost and availability of raw materials (such as paper, ink components and other materials), inventory, parts for equipment, labor, fuel and other energy costs and freight rates, and the risk the Company is unable to pass along such increases to clients; the impact macroeconomic conditions, including elevated interest rates, postal rate increases, tariffs, trade restrictions, cost pressures and the price and availability of paper, have had, and may continue to have, on the Company’s business, financial condition, cash flows and results of operations (including future uncertain impacts); the risk the Company is unable to reduce costs and improve operating efficiency rapidly enough to meet market conditions; the impact of a data-breach of sensitive information, ransomware attack or other cyber incident on the Company; the fragility and decline in overall distribution channels; the failure to attract and retain qualified talent across the enterprise; the impact of digital media and similar technological changes, including digital substitution by consumers; the failure of clients to perform under contracts or to renew contracts with clients on favorable terms or at all; the failure to successfully identify, manage, complete and integrate acquisitions, investment opportunities or other significant transactions, as well as the successful identification and execution of strategic divestitures; the impact negative publicity could have on our business and brand reputation; the impact of risks associated with the operations outside of the United States (“U.S.”), including trade restrictions, currency fluctuations, the global economy, costs incurred or reputational damage suffered due to improper conduct of its employees, contractors or agents, and geopolitical events like war and terrorism; the impact of significant capital expenditures and investments that may be needed to sustain and grow the Company’s platforms, processes, systems, client and product technology, marketing and talent, to remain technologically and economically competitive, and to adapt to future changes, such as artificial intelligence; the impact of the various restrictive covenants in the Company’s debt facilities on the Company’s ability to operate its business, as well as the uncertain negative impacts macroeconomic conditions may have on the Company’s ability to continue to be in compliance with these restrictive covenants; the impact of an other than temporary decline in operating results and enterprise value that could lead to non-cash impairment charges due to the impairment of property, plant and equipment, goodwill and other intangible assets; the impact of regulatory matters and legislative developments or changes in laws, including changes in cybersecurity, consumer protection, safety, privacy and environmental laws; and the impact on the holders of Quad’s class A common stock of a limited active market for such shares and the inability to independently elect directors or control decisions due to the voting power of the class B common stock; and the other risk factors identified in the Company’s most recent Annual Report on Form 10-K, which may be amended or supplemented by subsequent Quarterly Reports on Form 10-Q or other reports filed with the Securities and Exchange Commission.

Except to the extent required by the federal securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Non-GAAP Financial Measures

This press release contains financial measures not prepared in accordance with generally accepted accounting principles (referred to as non-GAAP), specifically EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Net Debt, Net Debt Leverage Ratio and Adjusted Diluted Earnings Per Share. Adjusted EBITDA is defined as net earnings (loss) excluding interest expense, income tax expense, depreciation and amortization (EBITDA), restructuring, impairment and transaction-related charges, net and the settlement charge from defined benefit pension plan annuitization. EBITDA Margin and Adjusted EBITDA Margin are defined as EBITDA or Adjusted EBITDA divided by Net Sales. Free Cash Flow is defined as net cash provided by (used in) operating activities less purchases of property, plant and equipment. Net Debt Leverage Ratio is defined as total debt and finance lease obligations less cash and cash equivalents (Net Debt) divided by the trailing twelve months Adjusted EBITDA. Adjusted Diluted Earnings Per Share is defined as earnings (loss) before income taxes excluding restructuring, impairment and transaction-related charges, net, and adjusted for income tax expense at a normalized tax rate, divided by diluted weighted average number of common shares outstanding.

The Company believes that these non-GAAP measures, when presented in conjunction with comparable GAAP measures, provide additional information for evaluating Quad’s performance and are important measures by which Quad’s management assesses the profitability and liquidity of its business. These non-GAAP measures should be considered in addition to, not as a substitute for or superior to, net earnings (loss) as a measure of operating performance or to cash flows provided by (used in) operating activities as a measure of liquidity. These non-GAAP measures may be different than non-GAAP financial measures used by other companies. Reconciliations to the GAAP equivalent of these non-GAAP measures are contained in tabular form on the attached unaudited financial statements.

Investor Relations Contact
Julie Fraundorf
Executive Director, Corporate Development & Investor Relations
IR@quad.com 

Media Contact
Claire Ho
Director, Corporate Communications
414-566-2955
cho@quad.com

 

QUAD/GRAPHICS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

For the Three Months Ended March 31, 2026 and 2025

(in millions, except per share data)

(UNAUDITED)

Three Months Ended March 31,

2026

2025

Net sales

$                  581.0

$                  629.4

Cost of sales

458.1

500.0

Selling, general and administrative expenses

78.4

83.5

Depreciation and amortization

18.4

19.7

Restructuring, impairment and transaction-related charges, net

8.4

6.6

Total operating expenses

563.3

609.8

Operating income

17.7

19.6

Interest expense

10.0

12.4

Net pension (income) expense

(0.2)

0.4

Earnings before income taxes

7.9

6.8

Income tax expense

1.7

1.0

Net earnings

$                      6.2

$                      5.8

Earnings per share

Basic

$                    0.13

$                    0.12

Diluted

$                    0.13

$                    0.11

Weighted average number of common shares outstanding

Basic

47.7

48.0

Diluted

49.6

50.7

QUAD/GRAPHICS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

As of March 31, 2026 and December 31, 2025

(in millions)

(UNAUDITED)
March 31, 2026

December 31,
2025

ASSETS

Cash and cash equivalents

$                      7.0

$                    63.3

Receivables, less allowances for credit losses

311.6

294.8

Inventories

164.7

143.5

Prepaid expenses and other current assets

39.3

36.8

Total current assets

522.6

538.4

Property, plant and equipment—net

458.8

461.6

Operating lease right-of-use assets—net

64.6

68.0

Goodwill

107.6

107.6

Other intangible assets—net

12.5

13.7

Other long-term assets

64.8

63.6

Total assets

$               1,230.9

$               1,252.9

LIABILITIES AND SHAREHOLDERS’ EQUITY

Accounts payable

$                  317.5

$                  342.0

Other current liabilities

163.8

211.7

Short-term debt and current portion of long-term debt

48.7

47.0

Current portion of finance lease obligations

0.5

0.5

Current portion of operating lease obligations

23.8

23.0

Total current liabilities

554.3

624.2

Long-term debt

384.5

322.9

Finance lease obligations

0.7

0.8

Operating lease obligations

45.2

49.8

Deferred income taxes

3.5

4.0

Other long-term liabilities

116.1

122.6

Total liabilities

1,104.3

1,124.3

Shareholders’ equity

Preferred stock

—

—

Common stock

1.4

1.4

Additional paid-in capital

840.8

846.2

Treasury stock, at cost

(34.5)

(36.3)

Accumulated deficit

(622.1)

(623.2)

Accumulated other comprehensive loss

(59.0)

(59.5)

Total shareholders’ equity

126.6

128.6

Total liabilities and shareholders’ equity

$               1,230.9

$               1,252.9

QUAD/GRAPHICS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Three Months Ended March 31, 2026 and 2025

(in millions)

(UNAUDITED)

Three Months Ended March 31,

2026

2025

OPERATING ACTIVITIES

Net earnings

$                      6.2

$                      5.8

Adjustments to reconcile net earnings to net cash used in operating activities:

Depreciation and amortization

18.4

19.7

Impairment charges

0.2

0.3

Amortization of debt issuance costs and original issue discount

0.4

0.4

Stock-based compensation

1.3

1.6

Loss on the sale of a business

—

0.5

Deferred income taxes

(0.5)

0.1

Changes in operating assets and liabilities – net of divestiture

(119.7)

(117.4)

Net cash used in operating activities

(93.7)

(89.0)

INVESTING ACTIVITIES

Purchases of property, plant and equipment

(13.3)

(11.3)

Cost investment in unconsolidated entities

—

(0.2)

Proceeds from the sale of property, plant and equipment

—

0.1

Other investing activities

(1.7)

(2.7)

Net cash used in investing activities

(15.0)

(14.1)

FINANCING ACTIVITIES

Payments of current and long-term debt

(9.0)

(6.3)

Payments of finance lease obligations

(0.1)

(0.4)

Borrowings on revolving credit facilities

354.3

398.1

Payments on revolving credit facilities

(282.4)

(300.6)

Purchases of treasury stock

(1.1)

(3.3)

Equity awards redeemed to pay employees’ tax obligations

(3.8)

(3.6)

Payment of cash dividends

(5.5)

(3.5)

Net cash provided by financing activities

52.4

80.4

Effect of exchange rates on cash and cash equivalents

—

(0.1)

Net decrease in cash and cash equivalents, including cash classified as held for sale

(56.3)

(22.8)

Less: net decrease in cash classified as held for sale

—

(1.7)

Net decrease in cash and cash equivalents

(56.3)

(21.1)

Cash and cash equivalents at beginning of period

63.3

29.2

Cash and cash equivalents at end of period

$                      7.0

$                      8.1

QUAD/GRAPHICS, INC.

SEGMENT FINANCIAL INFORMATION

For the Three Months Ended March 31, 2026 and 2025

(in millions)

(UNAUDITED)

Net Sales

Operating

Income (Loss)

Restructuring,

Impairment and

Transaction-Related

Charges, Net (1)

Three months ended March 31, 2026

United States Print and Related Services

$                      531.0

$                        26.1

$                            7.7

International

50.0

3.7

0.3

Total operating segments

581.0

29.8

8.0

Corporate

—

(12.1)

0.4

Total

$                      581.0

$                        17.7

$                            8.4

Three months ended March 31, 2025

United States Print and Related Services

$                      553.8

$                        31.7

$                            3.5

International

75.6

0.6

2.8

Total operating segments

629.4

32.3

6.3

Corporate

—

(12.7)

0.3

Total

$                      629.4

$                        19.6

$                            6.6

______________________________

(1)

Restructuring, impairment and transaction-related charges, net are included within operating income (loss).

QUAD/GRAPHICS, INC.

RECONCILIATION OF GAAP TO NON-GAAP MEASURES

EBITDA, EBITDA MARGIN, ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN

For the Three Months Ended March 31, 2026 and 2025

(in millions, except margin data)

(UNAUDITED)

Three Months Ended March 31,

2026

2025

Net earnings

$                  6.2

$                  5.8

Interest expense

10.0

12.4

Income tax expense

1.7

1.0

Depreciation and amortization

18.4

19.7

EBITDA (non-GAAP)

$                36.3

$                38.9

EBITDA Margin (non-GAAP)

6.2 %

6.2 %

Restructuring, impairment and transaction-related charges, net (1)

8.4

6.6

Adjusted EBITDA (non-GAAP)

$                44.7

$                45.5

Adjusted EBITDA Margin (non-GAAP)

7.7 %

7.2 %

______________________________

(1)

Operating results for the three months ended March 31, 2026 and 2025, were affected by the following restructuring, impairment and transaction-related charges, net:

Three Months Ended March 31,

2026

2025

Employee termination charges (a)

$                      4.4

$                      0.7

Impairment charges (b)

0.2

0.3

Transaction-related charges (c)

0.2

2.6

Integration costs (d)

0.4

—

Other restructuring charges, net (e)

3.2

3.0

Restructuring, impairment and transaction-related charges, net

$                      8.4

$                      6.6

______________________________

(a)

Employee termination charges were related to workforce reductions through facility consolidations and separation programs.

(b)

Impairment charges were primarily for certain machinery and equipment no longer being utilized in production as a result of facility consolidations, as well as other capacity reduction activities.

(c)

Transaction-related charges consisted of professional service fees related to business acquisition and divestiture activities, including charges related to the sale of the European operations in 2025.

(d)

Integration costs were primarily costs related to the integration of acquisitions.

(e)

Other restructuring charges, net primarily include costs to maintain and exit closed facilities, as well as lease exit charges.

In addition to financial measures prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), this earnings announcement also contains non-GAAP financial measures, specifically EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Net Debt, Net Debt Leverage Ratio and Adjusted Diluted Earnings Per Share.  The Company believes that these non-GAAP measures, when presented in conjunction with comparable GAAP measures, provide additional information for evaluating Quad’s performance and are important measures by which Quad’s management assesses the profitability and liquidity of its business.  These non-GAAP measures should be considered in addition to, not as a substitute for or superior to, net earnings (loss) as a measure of operating performance or to cash flows provided by (used in) operating activities as a measure of liquidity.  These non-GAAP measures may be different than non-GAAP financial measures used by other companies.

QUAD/GRAPHICS, INC.

RECONCILIATION OF GAAP TO NON-GAAP MEASURES

FREE CASH FLOW

For the Three Months Ended March 31, 2026 and 2025

(in millions)

(UNAUDITED)

Three Months Ended March 31,

2026

2025

Net cash used in operating activities

$                  (93.7)

$                  (89.0)

Less: purchases of property, plant and equipment

13.3

11.3

Free Cash Flow (non-GAAP)

$                (107.0)

$                (100.3)

In addition to financial measures prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), this earnings announcement also contains non-GAAP financial measures, specifically EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Net Debt, Net Debt Leverage Ratio and Adjusted Diluted Earnings Per Share.  The Company believes that these non-GAAP measures, when presented in conjunction with comparable GAAP measures, provide additional information for evaluating Quad’s performance and are important measures by which Quad’s management assesses the profitability and liquidity of its business.  These non-GAAP measures should be considered in addition to, not as a substitute for or superior to, net earnings (loss) as a measure of operating performance or to cash flows provided by (used in) operating activities as a measure of liquidity.  These non-GAAP measures may be different than non-GAAP financial measures used by other companies.

QUAD/GRAPHICS, INC.

RECONCILIATION OF GAAP TO NON-GAAP MEASURES

NET DEBT AND NET DEBT LEVERAGE RATIO

As of March 31, 2026 and December 31, 2025

(in millions, except ratio)

(UNAUDITED)

March 31, 2026

December 31,

2025(2)

Total debt and finance lease obligations on the condensed consolidated balance sheets

$                434.4

$                371.2

Less: Cash and cash equivalents

7.0

63.3

Net Debt (non-GAAP)

$                427.4

$                307.9

Divided by: trailing twelve months Adjusted EBITDA (non-GAAP) (1)

$                195.4

$                196.2

Net Debt Leverage Ratio (non-GAAP)

                    2.19 x

                    1.57 x

______________________________

(1)

The calculation of Adjusted EBITDA for the trailing twelve months ended March 31, 2026, and December 31, 2025, was as follows:

Add

Subtract

Trailing Twelve
Months Ended

Year Ended

Three Months Ended

December 31,

2025(2)

March 31, 2026

March 31, 2025

March 31, 2026

Net earnings

$                   27.0

$                     6.2

$                     5.8

$                      27.4

Interest expense

50.5

10.0

12.4

48.1

Income tax expense

5.5

1.7

1.0

6.2

Depreciation and amortization

78.6

18.4

19.7

77.3

EBITDA (non-GAAP)

$                 161.6

$                   36.3

$                   38.9

$                    159.0

Restructuring, impairment and transaction-related
charges, net

21.8

8.4

6.6

23.6

Settlement charge from defined benefit pension plan
annuitization

12.8

—

—

12.8

Adjusted EBITDA (non-GAAP)

$                 196.2

$                   44.7

$                   45.5

$                    195.4

(2)

Financial information for the year ended December 31, 2025, is included as reported in the Company’s 2025 Annual Report on Form 10-K filed with the SEC on February 18, 2026.

In addition to financial measures prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), this earnings announcement also contains non-GAAP financial measures, specifically EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Net Debt, Net Debt Leverage Ratio and Adjusted Diluted Earnings Per Share.  The Company believes that these non-GAAP measures, when presented in conjunction with comparable GAAP measures, provide additional information for evaluating Quad’s performance and are important measures by which Quad’s management assesses the profitability and liquidity of its business.  These non-GAAP measures should be considered in addition to, not as a substitute for or superior to, net earnings (loss) as a measure of operating performance or to cash flows provided by (used in) operating activities as a measure of liquidity.  These non-GAAP measures may be different than non-GAAP financial measures used by other companies.

QUAD/GRAPHICS, INC.

RECONCILIATION OF GAAP TO NON-GAAP MEASURES

ADJUSTED DILUTED EARNINGS PER SHARE

For the Three Months Ended March 31, 2026 and 2025

(in millions, except per share data)

(UNAUDITED)

Three Months Ended March 31,

2026

2025

Earnings before income taxes

$                      7.9

$                      6.8

Restructuring, impairment and transaction-related charges, net

8.4

6.6

Adjusted net earnings, before income taxes (non-GAAP)

16.3

13.4

Income tax expense at 25% normalized tax rate

4.1

3.4

Adjusted net earnings (non-GAAP)

$                    12.2

$                    10.0

Basic weighted average number of common shares outstanding

47.7

48.0

Plus: effect of dilutive equity incentive instruments

1.9

2.7

Diluted weighted average number of common shares outstanding

49.6

50.7

Adjusted diluted earnings per share (non-GAAP) (1)

$                    0.25

$                    0.20

Diluted earnings per share (GAAP)

$                    0.13

$                    0.11

Restructuring, impairment and transaction-related charges, net per share

0.17

0.14

Income tax expense from condensed consolidated statement of operations per share

0.03

0.02

Income tax expense at 25% normalized tax rate per share

(0.08)

(0.07)

Adjusted diluted earnings per share (non-GAAP) (1)

$                    0.25

$                    0.20

______________________________

(1)

Adjusted diluted earnings per share excludes the following: (i) restructuring, impairment and transaction-related charges, net and (ii) discrete income tax items.

In addition to financial measures prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), this earnings announcement also contains non-GAAP financial measures, specifically EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Net Debt, Net Debt Leverage Ratio and Adjusted Diluted Earnings Per Share.  The Company believes that these non-GAAP measures, when presented in conjunction with comparable GAAP measures, provide additional information for evaluating Quad’s performance and are important measures by which Quad’s management assesses the profitability and liquidity of its business.  These non-GAAP measures should be considered in addition to, not as a substitute for or superior to, net earnings (loss) as a measure of operating performance or to cash flows provided by (used in) operating activities as a measure of liquidity.  These non-GAAP measures may be different than non-GAAP financial measures used by other companies.

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Best AI Tools for Small Business Marketing (2026): CapCut Featured for Creating Professional Video and Visual Content by Expert Consumers

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NEW YORK, Oct. 25, 2026 /PRNewswire/ — Expert Consumers has recognized CapCut in its 2026 coverage of the best AI tools for small business marketing, highlighting the platform’s collection of AI-powered features for creating and editing video, images, audio, and other visual content. The recognition reflects growing interest in tools that support practical marketing activities, including campaign development, promotional content production, and adapting creative assets for different digital channels.

Best AI Marketing Tools

Seedance 2.0 – an AI video generation model that creates videos from text prompts or imagesSeedream – an AI image generation model that creates high-quality visuals from text prompts

Small businesses face growing pressure to maintain an active digital presence while managing limited time and resources. From product photography and promotional videos to social media graphics and campaign materials, effective marketing depends on a steady supply of relevant, engaging content. Artificial intelligence is creating new ways to simplify these tasks and help businesses turn creative ideas into usable marketing assets.

CapCut provides a range of AI-assisted capabilities that support several stages of content production. These include prompt-based video generation, AI image creation, background removal, image expansion, music generation, and photo animation. For small businesses managing marketing internally, these functions offer options for developing creative assets without relying entirely on manual production processes.

AI Video Generation Supports Promotional Campaigns

Video is an important format for demonstrating products, explaining services, and introducing new offerings. Small businesses can use video across social media, websites, digital advertisements, and online product pages. Producing content regularly, however, can require considerable planning and editing.

CapCut’s Seedance 2.0 AI video generator offers a prompt-based approach to video creation. Users can describe a creative concept and generate video content that serves as a starting point for further editing.

For a small retailer preparing a product promotion, AI-generated video can help explore different visual approaches before a final concept is selected. A service provider could use the same process to develop ideas for an explainer or an introductory campaign.

Prompt-based generation can reduce the effort involved in developing initial concepts. Generated material still requires review to ensure the finished video accurately represents the business, communicates the intended message, and follows relevant brand guidelines.

AI Image Creation Helps Develop Marketing Materials

Visual content plays a central role in how businesses present products and services online. Promotional graphics, campaign imagery, and social media visuals need to communicate a clear message while maintaining a recognizable style.

CapCut’s Seedream AI image generator enables users to generate images from text prompts. The tool can support concept drafts, campaign planning, and experimentation with different visual directions before final assets are prepared.

For example, a small business planning a seasonal campaign could explore different visual themes and compositions during the early planning stage. These drafts can help establish a creative direction before additional time is spent refining the final materials.

CapCut’s GPT Image 2 provides another option for generating images from natural language instructions. The feature can support the development of promotional imagery, marketing graphics, and other visual assets.

AI image generation gives businesses more opportunities to test creative ideas during campaign development. However, generated images should be checked for visual errors, accurate product representation, and consistency with the intended brand identity before publication.

Image Editing Simplifies Content Preparation

Creating new marketing assets is only part of the production process. Existing photographs and graphics often need adjustments before they are suitable for different platforms.

CapCut’s AI background removal tool helps isolate subjects from their original backgrounds. This can simplify the preparation of product photographs, promotional graphics, and other images that require a different visual setting.

For a small retailer, background removal can make it easier to prepare product images for online listings or promotional materials. Separated subjects can be incorporated into new compositions without recreating the entire image.

The AI Image Extender addresses a separate challenge: adapting images to different dimensions. The tool generates additional visual content beyond an image’s original boundaries, helping users adjust compositions without relying entirely on cropping or stretching.

A campaign may require square graphics for social media, vertical visuals for mobile viewing, and horizontal banners for a website. Image expansion provides another option for adapting existing assets to those formats.

These editing capabilities can help reduce repetitive production work while supporting a more consistent presentation across marketing channels.

AI Audio and Photo Animation Expand Creative Options

Marketing content often combines visuals, movement, and sound. Music can establish a mood, support storytelling, and help create a more complete video presentation.

CapCut’s SeedMusic AI audio generator supports AI-assisted music creation based on prompts. The feature can help develop audio for promotional videos, product demonstrations, and social media content.

Generated music offers a starting point for matching audio to a campaign’s intended atmosphere. Before publication, businesses should review the output and confirm that the applicable usage terms cover the intended commercial application.

CapCut also provides a Photo-to-3D tool that transforms still images into more dynamic visual presentations. This capability can help repurpose existing photography for promotional videos, social posts, and digital campaigns.

For small businesses with an existing collection of product images, adding movement can provide another way to present familiar assets. The approach also expands the range of creative formats available without requiring every campaign to begin with new photography.

Connecting AI Tools to Everyday Marketing Workflows

The practical value of AI-powered creative tools depends on how effectively they address specific marketing needs. Small businesses do not necessarily need every available feature for every campaign. Selecting tools according to content requirements can help keep production focused.

A retailer might begin with Seedream to explore campaign concepts, then use GPT Image 2 to generate supporting visuals. Background removal can help prepare product photography, while AI Image Extender can adapt selected assets to different layouts. Seedance 2.0 can support video concept development, with SeedMusic offering an option for accompanying audio.

A service-based business might prioritize short promotional videos, explanatory graphics, and social media content instead. The same collection of tools can support different production requirements depending on the business model and campaign objectives.

Using AI does not remove the need for creative direction or quality control. Content should be checked for factual accuracy, appropriate product representation, brand consistency, and compliance with advertising requirements. Human review also helps ensure that generated assets serve a clear marketing purpose rather than adding unnecessary material to a campaign.

AI-Assisted Marketing for Small Businesses

Interest in the best AI tools for small business marketing reflects the need for practical ways to produce and adapt digital content. Businesses must balance the demand for regular campaign updates with the resources available for creative production.

Expert Consumers’ recognition of CapCut highlights the platform’s range of AI-assisted functions for video generation, image creation, editing, audio production, and photo animation. These capabilities offer small businesses several options for developing marketing materials across digital channels.

As AI becomes more integrated into content production, effective use will depend on matching the right tools to specific tasks. With clear campaign objectives, careful editing, and appropriate review, CapCut’s creative features can help businesses develop marketing assets while reducing some of the repetitive work involved in preparing content for publication.

Visit the Expert Consumers site for the full review.

About CapCut

CapCut is an AI-powered photo and video editing platform designed to make high-quality video creation accessible across devices. The platform supports creators, businesses, and everyday users with tools for video editing, AI video generation, captions, templates, audio, and visual editing. CapCut is available across mobile, web, desktop, and iPad experiences, helping users create, edit, and prepare video content for social media, marketing, education, and personal projects.

About Better Business Advice: Better Business Advice covers the news and strategies driving modern business success. The information provided by Better Business Advice does not, and is not intended to, constitute legal advice; instead, all information, content, and materials are for general informational purposes only. As an affiliate, Better Business Advice may earn commissions from services mentioned in the links provided.

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Beyond GRC: DigitalXForce Pioneers AI-Powered Risk Operations with Global X-ROC™ Rollout

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Enterprise TRiSCM™ innovator advances Continuous Control Assurance, cyber risk quantification and real-time Risk Operations across global enterprises, transforming traditional GRC into proactive Digital Trust

DALLAS, Oct. 25, 2026 /PRNewswire/ — DigitalXForce, the AI-native Enterprise Trust, Risk, Security and Compliance Management (TRiSCM™) platform, today announced the continued global rollout of X-ROC™ (XForce Risk Operations Center), its AI-powered approach to continuous enterprise risk operations.

The expansion builds on DigitalXForce’s recognition as a Leader in two IDC MarketScape assessments, its 2026 Cyber Defense Magazine innovation honors, and increasing enterprise demand for automated, continuous approaches to managing cybersecurity, governance, risk and compliance.

Unlike traditional Governance, Risk and Compliance (GRC) platforms that primarily document risks and manage periodic assessments, DigitalXForce’s X-ROC combines Continuous Control Assurance (CCA), Continuous Control Monitoring (CCM), Cyber Risk Quantification (CRQ), AI-powered risk intelligence and remediation orchestration into an integrated risk operations model.

The objective is to help enterprises move beyond knowing whether controls are documented to continuously understand whether controls are operating effectively, which exposures matter most, and what action should be taken next.

New Research Reveals Why Traditional Security Scores Are Not Enough

The company’s DigitalXForce Security Posture Benchmark 2026, analyzing published security control responses from 2,112 companies, reveals a significant disconnect between high-level compliance scores and underlying security exposure.

Key findings include:

98.9% median control implementation: The median company reported 98.9% of applicable security controls in place, yet significant control gaps remained.54.9% reported data protection gaps: More than half of companies reported at least one missing control in the Data Protection and Encryption domain.52.0% reported encryption and key management gaps: Among 2,098 companies responding, 52.0% reported at least one control not in place.42.3% reported configuration and asset management gaps: Demonstrating continued exposure in foundational security practices.26.7% reported full control implementation: More than one-quarter reported all applicable controls in place under the benchmark’s assessment model.

The benchmark evaluated responses against DigitalXForce’s proprietary model of 94 controls across 12 domains, with mappings to NIST SP 800-53, NIST Cybersecurity Framework 2.0 and CIS Controls v8.1.

These findings highlight an important enterprise risk challenge: a high security or compliance score does not necessarily reveal which remaining control failures could create the greatest business impact.

DigitalXForce developed X-ROC to address this challenge by connecting control failures and changing risk conditions with supporting evidence, quantified business impact and accountable remediation workflows.

Read the research: https://digitalxforce.com/research/security-posture-benchmark-2026/

X-ROC: Bringing Operational Intelligence to Enterprise Risk

A Risk Operations Center (ROC) is an operating model designed to continuously identify, assess, prioritize, monitor and reduce enterprise risk.

While a traditional Security Operations Center (SOC) focuses on security threats and incidents, a Risk Operations Center focuses on the organization’s broader exposure, control effectiveness, business impact and risk remediation.

DigitalXForce X-ROC™ brings these capabilities together through an integrated operating model:

1. Continuous Risk Discovery and Monitoring

X-ROC ingests security posture changes, control failures, third-party risk events and other enterprise risk signals, connecting them with the underlying evidence.

2. Continuous Control Assurance and Automation

DigitalXForce CCA continuously validates control effectiveness through evidence collection, automated testing and ongoing monitoring. CCM provides the monitoring capability within CCA, tracking control conditions and associated risk signals.

3. AI-Powered Risk Intelligence

DigitalXForce’s proprietary AI engines, AI JedAI and XForce GPT, analyze risk signals, correlate related findings, support prioritization and generate business-oriented risk narratives and executive reporting, with analyst review.

4. Cyber Risk Quantification

Rather than prioritizing findings solely by technical severity, X-ROC incorporates quantified financial exposure and business impact to help organizations identify which risks deserve attention first.

5. Remediation Orchestration and Validation

X-ROC assigns risk ownership, tracks remediation against defined timelines and supports integration with enterprise workflow platforms such as ServiceNow and Jira.

Findings are validated through control retesting before closure, creating an evidence-based approach to risk reduction.

6. Executive Digital Trust Intelligence

X-ROC connects operational risk findings with broader enterprise trust, security, compliance and resilience reporting, helping CISOs, CROs, compliance leaders and boards understand the organization’s changing risk posture.

CEO Perspective: Redefining Enterprise Risk Operations

“X-ROC is redefining enterprise risk operations. By combining AI, continuous control assurance and risk intelligence, we’re helping global enterprises move from reacting to risk to staying ahead of it.”

— Lalit Ahluwalia, Founder & CEO, DigitalXForce

Global Enterprise Adoption of Continuous Risk Operations

DigitalXForce is advancing the adoption of X-ROC across its international enterprise customer ecosystem, supporting organizations seeking to consolidate fragmented governance, cybersecurity, compliance and risk management operations.

X-ROC supports two operating models:

Enterprise-operated Risk Operations Center: Organizations operate X-ROC directly using DigitalXForce’s platform, workflows, integrations and risk intelligence capabilities.Managed Risk Operations: DigitalXForce operates the risk operations layer as a managed service, providing continuous monitoring, prioritization and reporting while customers retain ownership of remediation actions.

The platform supports cloud and hybrid deployment architectures, enabling organizations to address enterprise security, operational and regional data residency requirements.

This flexibility is particularly relevant to multinational organizations managing complex regulatory requirements, multiple business units, distributed technology environments and third-party ecosystems.

Independent Industry Recognition Reinforces DigitalXForce’s Momentum

DigitalXForce’s X-ROC strategy builds on broader industry recognition of the company’s Enterprise TRiSCM™ platform and AI-powered risk management innovation.

Dual IDC MarketScape Leader Recognition

DigitalXForce was positioned as a Leader in:

IDC MarketScape: Worldwide Governance, Risk, and Compliance Software Vendor Assessment, 2025 (Doc #US53615325, June 2025).IDC MarketScape: Worldwide Third-Party Risk Management Software 2026 Vendor Assessment (Doc #US53007725, September 2026).

These assessments evaluated vendor capabilities and strategies in their respective markets.

DigitalXForce’s recognition across both GRC and Third-Party Risk Management reflects its positioning across interconnected enterprise risk disciplines, supported by a unified platform architecture.

Cyber Defense Magazine Innovation Honors

DigitalXForce has also received recognition through the 2026 Cyber Defense Magazine Global InfoSec Awards, including innovation honors associated with AI TRiSCM, Automated GRC with Continuous Control Assurance, and X-ROC.

These recognitions contribute to DigitalXForce’s growing industry profile as it advances AI-powered governance, risk management and continuous assurance.

From GRC to Enterprise TRiSCM™: One Platform for Digital Trust

DigitalXForce’s Enterprise TRiSCM™ platform integrates 15 modules on a unified data layer, supporting more than 50 compliance frameworks and 250 technology integrations.

The architecture enables security, compliance, audit, risk and third-party risk teams to work from connected controls, shared evidence and continuously updated risk information rather than isolated tools and periodic assessments.

The platform is designed to enable five fundamental shifts:

From Periodic GRC → Continuous Control Assurance

From Fragmented Security Tools → Unified Enterprise Risk Intelligence

From Technical Severity → Quantified Business Risk

From Manual Remediation Tracking → Evidence-Based Risk Operations

From Compliance Reporting → Continuous Digital Trust

X-ROC serves as the operational layer of this strategy, connecting enterprise risk signals with prioritization, accountability and validated remediation.

Building the Future of AI-Powered Risk Operations

As enterprises accelerate adoption of cloud services, AI, autonomous technologies and complex third-party ecosystems, risk exposure is becoming increasingly dynamic.

DigitalXForce believes enterprise risk management must evolve accordingly.

The company’s vision is to make risk management a continuous operational capability rather than a periodic reporting exercise.

Through X-ROC, Continuous Control Assurance, AI-powered analysis and cyber risk quantification, DigitalXForce is working to establish a new operating model in which enterprises can identify emerging exposures, prioritize them based on business impact and verify that corrective actions are effective.

The SOC manages security incidents. X-ROC manages enterprise risk.

The future of GRC is not another dashboard. It is continuous, intelligent Risk Operations

About DigitalXForce — We Stop Risk Before It Strikes.

DigitalXForce, Industry’s first AI-Powered Enterprise TRiSCM (Trust, Risk, Security and Compliance Management) Platform, is pioneering the next generation of Automated GRC with Continuous Trust Assurance by converging AI, cybersecurity, compliance, operational resilience, and posture management into one unified Risk Intelligence platform. Designed with a modular and composable architecture, DigitalXForce delivers an integrated suite of capabilities spanning automated GRC, Enterprise Security Risk Posture Management (ESRPM), Third-Party Risk Management, Cyber Resilience, and Regulatory Compliance.

At the core of DigitalXForce is its AI-powered engine, which leverages intelligent agents, machine learning models, and a dynamic control library to autonomously monitor controls, map evidence, assess risks, and generate real-time insights. Trusted by global enterprises across healthcare, finance, critical infrastructure, and technology sectors, DigitalXForce delivers measurable value by reducing manual effort, accelerating audit readiness, and improving organizational resilience in today’s fast-evolving threat and compliance landscape.

Learn more about DigitalXForce at https://digitalxforce.com

Additional Resources

X-ROC Platform: https://digitalxforce.com/products/ai-powered-xforce-risk-operations-center/2026 Security Posture Benchmark: https://digitalxforce.com/research/security-posture-benchmark-2026/What Is a Risk Operations Center: https://digitalxforce.com/what-is-a-risk-operations-center/

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Best Protective iPhone Cases for 2026: Top Slim and Drop-Protection Options for iPhone 18 Pro & iPhone 18 Pro Max Recommended by Consumer365

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NEW YORK, Oct. 25, 2026 /PRNewswire/ — Consumer365 has recognized TORRAS in its review of the best iPhone cases for 2026, highlighting the Ostand Q3 Air and Ostand Q3 Air Pro as two options designed for iPhone 18 Pro & iPhone 18 Pro Max users seeking a balance between slim everyday usability and impact protection. The review examines documented features including case thickness, weight, grip, raised edges, magnetic support, corner protection, and drop-testing information.

Best iPhone Cases:

TORRAS – offers slim and protection-focused iPhone cases with air-cushioning, raised screen and camera edges, magnetic accessory support, textured grip, and built-in rotating stands, giving iPhone 18 Pro and iPhone 18 Pro Max users options for balancing everyday portability with impact protection.

The feature evaluates several factors that can affect real-world case performance, including thickness, weight, grip, raised edges, corner design, magnetic accessory support, documented drop testing, and overall handling. Rather than treating protection as a single specification, the review highlights the trade-offs involved in choosing between a thinner case and a more protection-focused design.

TORRAS addresses those different priorities through the Q3 Air series. The Ostand Q3 Air emphasizes a slimmer and lighter profile while retaining protective features, magnetic support, and an integrated rotating stand. The Ostand Q3 Air Pro places greater emphasis on impact management through a dual-layer airbag structure designed to help manage force during accidental drops.

TORRAS Q3 Air Focuses on Slim Everyday Protection

The TORRAS Ostand Q3 Air is designed for buyers seeking protective coverage without moving into a heavily built case. According to documented specifications reviewed by Consumer365, the Q3 Air measures 3.35 mm thick and weighs between 46 g and 53.7 g, depending on configuration.

Those dimensions help define the Q3 Air’s role within the series. The case is intended to retain a relatively streamlined profile while adding cushioning around areas that may be exposed during daily handling.

TORRAS lists an 8 ft protection rating for the Q3 Air. Raised edges provide another layer of separation between the device and flat surfaces, with documented measurements of 1.2 mm around the screen and 0.55 mm around the camera.

Grip is another part of the design. A dot-matrix texture is intended to improve handling, particularly during one-handed use. Better grip can play an important role in protection because reducing the likelihood of a drop can be as relevant as managing impact after a fall occurs.

The case also incorporates an 18N magnetic hold for compatible magnetic charging and accessories. Its built-in stand rotates through 360 degrees and supports portrait and landscape positioning for video calls, streaming, hands-free viewing, and desk work without requiring a separate stand attachment.

The combination positions the Q3 Air as a case for buyers who place significant value on portability, handling, and everyday functionality while still looking for documented protective features.

Q3 Air Pro Places More Emphasis on Impact Management

The TORRAS Ostand Q3 Air Pro takes a more protection-focused approach. The main distinction is the Air² Pro Tech construction, which TORRAS describes as a sealed dual-layer airbag system.

The structure uses two layers with different roles during impact. The outer layer is designed to receive the initial force, while the inner layer helps disperse remaining energy. This approach concentrates protective engineering around impact management rather than relying only on additional bulk.

TORRAS documents controlled internal drop testing for the Q3 Air Pro at heights up to 5 meters, or 16.4 feet. Such testing provides a useful reference point when comparing protective phone cases, although controlled testing should not be interpreted as a guarantee against damage in every real-world accident. Drop angle, surface material, device condition, and other variables can affect the result of an impact.

The Q3 Air Pro also includes textured sides intended to support a more secure grip. A microfiber interior creates a softer contact surface between the case and device. A 1.45 mm raised screen edge provides added separation from flat surfaces, while raised camera protection helps protect another key contact area.

Magnetic functionality remains part of the design. The Q3 Air Pro carries an 18N magnetic hold and includes a stand that rotates through 360 degrees and opens up to 180 degrees. The adjustable design supports portrait and landscape viewing for video calls, streaming, filming, and desk work.

Consumer365’s review presents the Q3 Air Pro as the more protection-oriented option within the two-product comparison, while the Q3 Air is positioned around a lighter and slimmer everyday experience.

Understanding the Slim Versus Protective Case Trade-Off

The review also examines why case selection should extend beyond broad terms such as “thin” or “protective.” Case thickness can affect pocketability and hand feel, but thickness alone does not establish impact performance. Likewise, a higher documented drop-test height does not describe every aspect of daily usability.

A useful comparison begins with several separate criteria.

Thickness and weight help indicate how significantly a case changes the physical feel of a phone. Published measurements can make slim-case comparisons more transparent.

Grip and corner construction affect both prevention and impact management. Textured surfaces can reduce slipping, while cushioning around corners addresses areas commonly exposed during falls.

Raised screen and camera edges can reduce direct contact when a device is placed on a flat surface. Exact measurements are particularly useful when available.

Magnetic support matters for charging, mounts, wallets, and other compatible accessories. Magnetic strength and alignment can influence how securely accessories remain attached.

Documented testing provides context for protective claims. Controlled test results are more useful when accompanied by clear conditions and should be considered alongside case construction rather than treated as a guarantee.

For the Q3 Air and Q3 Air Pro, these criteria create two different decision paths. A preference for lower bulk and published weight and thickness specifications points toward the Q3 Air. Greater emphasis on impact management and the dual-layer airbag design points toward the Q3 Air Pro.

Choosing Between the TORRAS Q3 Air and Q3 Air Pro

Case selection ultimately depends on how the phone is used throughout the day. Frequent pocket storage, extended one-handed use, commuting, travel, desk use, and reliance on magnetic accessories can each change which features deserve the most attention.

The Q3 Air combines a documented 3.35 mm profile with air cushioning, raised edges, textured grip, an 18N magnetic hold, and a 360-degree rotating stand. Those characteristics support a balance between protection and a slimmer carrying experience.

The Q3 Air Pro shifts the balance toward impact protection through the sealed dual-layer airbag structure and documented controlled drop testing. Magnetic support, textured grip, interior cushioning, raised screen and camera protection, and a 360-degree rotating stand remain part of the design.

Consumer365’s review recognizes TORRAS for offering both approaches within the Q3 Air series rather than treating protection and slimness as identical priorities. The comparison gives iPhone 18 Pro and iPhone 18 Pro Max users a clearer framework for considering protective construction, portability, grip, magnetic functionality, and documented testing before selecting a case.

For shoppers evaluating protective iPhone cases in 2026, the central question is not simply how much protection a case claims to provide. A more practical evaluation considers how that protection is achieved, how much bulk is introduced, and whether the case remains comfortable and functional during everyday use.

The full review is available at the Consumer365 website.

About TORRAS

TORRAS creates technology accessories that combine protection, thoughtful engineering, and practical everyday function. Across the Q3 Air, Q3 Air Pro, and Ostand series, TORRAS challenges the idea that better protection must mean more bulk, while using Ostand to make hands-free use and spontaneous content capture part of daily life.

About Consumer365.org: Consumer365 provides consumer news and industry insights. As an affiliate, Consumer365 may earn commissions from sales generated using links provided.

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SOURCE Consumer365.org

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