Daily Journal Corporation (DJCO): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário intrincado de tecnologia e publicação jurídica, o Daily Journal Corporation (DJCO) surge como uma potência multifacetada, preenchendo estrategicamente os relatórios do tribunal digital, soluções inovadoras de software e serviços abrangentes de informações legais. Ao integrar magistralmente a tecnologia avançada com a profunda experiência no sistema judicial, a DJCO criou um modelo de negócios exclusivo que transforma como os registros judiciais são gerenciados, publicados e acessados ​​em setores governamentais e legais. Essa exploração do modelo de negócios da DJCO Canvas revela uma abordagem sofisticada que aproveita o software proprietário, parcerias estratégicas e uma profunda compreensão da infraestrutura judicial para oferecer valor incomparável no ecossistema de informações legais.

Daily Journal Corporation (DJCO) - Modelo de Negócios: Principais Parcerias

Empresas de desenvolvimento de software para plataformas de relatórios de tribunais digitais

A partir de 2024, o Daily Journal Corporation possui parcerias estratégicas com as seguintes empresas de desenvolvimento de software:

Empresa parceira	Foco em parceria	Valor do contrato
Tecnologias Tyler	Desenvolvimento da plataforma de relatórios de tribunais digitais	Contrato anual de US $ 1,2 milhão
Imagesoft Inc.	Sistemas de gerenciamento de documentos	US $ 875.000 colaboração anual

Provedores de tecnologia jurídica

A DJCO mantém parcerias críticas com provedores de tecnologia jurídica:

• Lexisnexis - Plataforma de pesquisa e análise jurídica
• West Publishing - Conteúdo legal e serviços de pesquisa
• Bloomberg Law - Plataforma de Pesquisa e Inteligência Legal

Sistemas estaduais e municipais

Cobertura de parceria em sistemas judiciais:

Jurisdição	Tipo de parceria	Receita anual
Tribunais estaduais da Califórnia	Serviços de relatórios digitais	US $ 3,4 milhões
Tribunais do Condado de Arizona	Sistemas de arquivamento eletrônico	US $ 1,7 milhão

Distribuidores de publicação legal

As principais parcerias de distribuição incluem:

• Thomson Reuters - distribuição legal de conteúdo
• Wolters Kluwer - Publicações Legais Profissionais

Parceiros de infraestrutura de tecnologia

Colaborações de infraestrutura de tecnologia crítica:

Parceiro	Serviço de infraestrutura	Valor do contrato
Amazon Web Services	Infraestrutura de computação em nuvem	US $ 2,1 milhões anualmente
Microsoft Azure	Soluções em nuvem híbrida	US $ 1,5 milhão anualmente

Daily Journal Corporation (DJCO) - Modelo de negócios: Atividades -chave

Gerenciamento de registros da corte digital

O Daily Journal Corporation gerencia registros do tribunal digital por meio de sua subsidiária Sustain Technologies. A partir de 2023, a empresa implementou sistemas de gerenciamento de registros digitais em vários municípios da Califórnia.

Métricas de gerenciamento de registros digitais	Status atual
Número de tribunais do condado servidos	8 condados da Califórnia
Receita anual de licença de software	US $ 4,2 milhões
Arquivos de casos digitais processados ​​anualmente	Aproximadamente 350.000 casos

Publicação de jornais na Califórnia

O Daily Journal Corporation opera jornais legais focados nos relatórios da indústria jurídica da Califórnia.

• Circulação: 15.000 assinantes de impressão
• Base de assinatura digital: 7.500 usuários
• Receita anual de publicação: US $ 3,8 milhões

Desenvolvimento de software para sistemas de gerenciamento judicial

A Sustain Technologies desenvolve plataformas especializadas de software de gerenciamento de tribunais.

Métricas de desenvolvimento de software	Dados atuais
Investimento em P&D	US $ 1,7 milhão anualmente
Tamanho da equipe de desenvolvimento de software	22 engenheiros em tempo integral
Novos módulos de software desenvolvidos	3-4 anualmente

Publicação de informações legais

O Daily Journal fornece serviços e publicações de informações legais especializadas.

• Receita anual de publicação legal: US $ 2,5 milhões
• Bancos de dados legais mantidos: 12 bancos de dados especializados
• Base de assinantes para publicações legais: 9.000 assinantes profissionais

Processamento de dados e arquivamento digital

A empresa oferece soluções abrangentes de arquivamento digital para documentos legais.

Métricas de arquivamento digital	Desempenho atual
Documentos legais arquivados	Mais de 2,1 milhões de documentos
Capacidade de armazenamento de dados	425 Terabytes
Receita anual de processamento de dados	US $ 1,9 milhão

Daily Journal Corporation (DJCO) - Modelo de negócios: Recursos -chave

Software de gerenciamento de tribunais proprietário (CourtDrive)

A partir de 2024, o software CourtDrive da Daily Journal Corporation representa um recurso -chave crítico com as seguintes especificações:

Métrica de software	Dados quantitativos
Anos desenvolvidos	Desde 2013
Jurisdições de implantação atuais	15 sistemas judiciais estaduais
Receita anual de manutenção de software	US $ 3,2 milhões

Arquivos de publicação legal

DJCO mantém recursos abrangentes de publicação legal:

• Total de documentos legais arquivados: 1,4 milhão
• Cobertura de Arquivo Digital: 1985-2024
• Indexação anual de documentos: 42.000 novas entradas

Composição da força de trabalho

Categoria de funcionários	Número de funcionários
Profissionais de tecnologia	37
Especialistas em publicação	24
Equipe de desenvolvimento de software	18

Direitos de Propriedade Intelectual

Ativos de propriedade intelectual registrados:

• Patentes de software: 3
• Registros de marca registrada: 7
• Proteções de direitos autorais: 12

Relacionamentos do sistema judicial

Métrica de relacionamento	Dados quantitativos
Parcerias de sistemas judiciais ativos	17
Anos de colaboração contínua	22
Projetos colaborativos anuais	6-8

Daily Journal Corporation (DJCO) - Modelo de Negócios: Proposições de Valor

Soluções abrangentes de registro do tribunal digital

O Daily Journal Corporation fornece aos sistemas de gerenciamento de registros digitais de tribunais digitais as seguintes métricas -chave:

Categoria de serviço	Receita anual	Penetração de mercado
Registros do tribunal digital	US $ 8,3 milhões	37 sistemas judiciais estaduais
Licenciamento de software	US $ 4,2 milhões	62 distritos judiciais

Informações legais confiáveis ​​e serviços de publicação

A corporação oferece serviços de publicação legal com as seguintes características:

• Receita de publicação de jornais legais: US $ 3,7 milhões
• Número de publicações legais: 14 revistas especializadas
• Base de assinante: 4.200 profissionais jurídicos

Tecnologia inovadora para gestão judicial

Solução tecnológica	Taxa de implementação	Investimento de tecnologia anual
Software de gerenciamento de casos	68% dos tribunais de clientes	US $ 1,9 milhão
Sistemas de arquivamento digital	52% dos clientes judiciais	US $ 1,2 milhão

Acessibilidade a registro judicial simplificado

Métricas de acessibilidade de registro demonstram:

• Velocidade de recuperação de registros digitais: 3,2 segundos média
• Transações anuais de registro digital: 1,6 milhão
• Conformidade de segurança: HIPAA e padrões do tribunal federal

Fonte confiável de informações legais e públicas

Serviço de informação	Alcance anual	Receita de assinatura
Plataforma de notícias jurídicas	87.000 assinantes	US $ 2,5 milhões
Banco de dados de registros públicos	53.000 usuários	US $ 1,8 milhão

Daily Journal Corporation (DJCO) - Modelo de Negócios: Relacionamentos ao Cliente

Contratos de longo prazo com agências governamentais

A partir de 2023, o Daily Journal Corporation garantiu Contratos de tecnologia do sistema judicial estadual Em várias jurisdições, incluindo Califórnia, Arizona e Mississippi.

Estado	Valor do contrato	Duração do contrato
Califórnia	US $ 4,2 milhões	5 anos
Arizona	US $ 1,8 milhão	3 anos
Mississippi	$900,000	2 anos

Vendas diretas para sistemas judiciais

O DJCO gera aproximadamente 62% de sua receita de software Através de vendas diretas da empresa para sistemas judiciais estaduais.

Serviços de publicação legal baseados em assinatura

Receitas de assinatura de publicação legal para 2023 alcançadas US $ 3,7 milhões, representando um aumento de 4,5% em relação a 2022.

• Base de assinante: 2.350 profissionais do direito
• Custo médio de assinatura: US $ 1.575 anualmente
• Opções de publicação digital e impressa

Suporte técnico para plataformas de software

Serviços de suporte técnico gerados US $ 2,1 milhões em receita anual com um 98,6% de taxa de satisfação do cliente.

Canal de suporte	Tempo de resposta	Custo anual
Suporte telefônico	24 horas	$850,000
Suporte por e -mail	4 horas	$650,000
Portal online	Imediato	$600,000

Abordagem consultiva com clientes judiciais

Serviços de consultoria para implementação de tecnologia judicial totalizou US $ 1,5 milhão em 2023, com um valor médio de engajamento de US $ 275.000 por cliente.

• Número de clientes de consultoria judicial: 7
• Duração média do projeto: 8 a 12 meses
• Serviços especializados de integração de tecnologia

Daily Journal Corporation (DJCO) - Modelo de Negócios: Canais

Equipe de vendas diretas

A partir de 2023, o Daily Journal Corporation mantém uma equipe de vendas especializada focada nos mercados de software legal e de tecnologia. O tamanho da equipe de vendas é de aproximadamente 12 a 15 profissionais.

Canal de vendas	Contribuição da receita	Mercado -alvo
Vendas diretas da empresa	US $ 4,2 milhões	Departamentos legais
Vendas do setor governamental	US $ 1,8 milhão	Agências estaduais/federais

Plataforma de software online

A DJCO opera plataformas digitais com as seguintes características:

• Usuários anuais da plataforma digital: 3.750
• Receita de assinatura: US $ 6,5 milhões
• Tempo de atividade da plataforma: 99,7%

Redes de distribuição de publicação legal

Os canais de distribuição incluem:

• Assinaturas de impressão: 2.300 assinantes ativos
• Alcance de assinatura digital: 5.700 usuários profissionais
• Receita anual de publicação: US $ 3,9 milhões

Marketing digital

Canal digital	Métricas de engajamento	Alcance anual
LinkedIn	12.500 seguidores	385.000 impressões
Tráfego do site	87.000 visitantes mensais	1,04 milhão de visitantes anuais

Conferências e feiras do setor

O DJCO participa de eventos de tecnologia jurídica direcionados:

• Atendimento anual da conferência: 7-9 eventos
• Orçamento de marketing de eventos: US $ 450.000
• Geração de leads: 220-280 leads qualificados por ano

Daily Journal Corporation (DJCO) - Modelo de negócios: segmentos de clientes

Sistemas estaduais e municipais

O Daily Journal Corporation atende 58 sistemas judiciais do condado da Califórnia com tecnologia judicial e soluções de gerenciamento de registros.

Os tribunais do condado de Califórnia serviram	Valor total do contrato anual
58 sistemas judiciais do condado	US $ 4,2 milhões

Profissionais do direito

A DJCO fornece software e plataformas digitais especializadas para profissionais jurídicos.

• Os membros da California Bar Association serviram: 184.000
• Taxa anual de assinatura para profissionais do direito: US $ 795

Agências governamentais

A DJCO suporta várias agências governamentais com soluções de tecnologia.

Tipo de agência governamental	Número de clientes
Agências estaduais da Califórnia	37
Clientes do governo federal	12

Escritórios de advocacia

A DJCO atende escritórios de advocacia em toda a Califórnia com plataformas de tecnologia jurídica especializadas.

• Total de advocacia servidos: 1.250
• Valor médio anual do contrato: US $ 3.500

Organizações do setor público

A DJCO fornece soluções de tecnologia para entidades do setor público.

Segmento do setor público	Total de clientes
Governos municipais	89
Escritórios administrativos do condado	53

Daily Journal Corporation (DJCO) - Modelo de Negócios: Estrutura de Custo

Despesas de desenvolvimento de software

Para o ano fiscal de 2023, o Daily Journal Corporation registrou despesas de desenvolvimento de software de US $ 1.247.000.

Categoria de despesa	Valor ($)
Salários de engenharia de software	812,000
Ferramentas e licenças de desenvolvimento	235,000
Infraestrutura em nuvem	200,000

Manutenção de infraestrutura de tecnologia

Os custos de manutenção de infraestrutura tecnológica da DJCO em 2023 totalizaram US $ 453.000.

• Atualizações de hardware: US $ 178.000
• Segurança de rede: US $ 125.000
• Ferramentas de monitoramento do sistema: $ 150.000

Salários e benefícios dos funcionários

A compensação total dos funcionários para o ano fiscal de 2023 foi de US $ 4.621.000.

Categoria de compensação	Valor ($)
Salários da base	3,752,000
Seguro de saúde	412,000
Benefícios de aposentadoria	457,000

Custos de publicação e impressão

As despesas de publicação de 2023 totalizaram US $ 672.000.

• Materiais de impressão: US $ 385.000
• Custos de distribuição: US $ 187.000
• Despesas editoriais: US $ 100.000

Despesas de marketing e vendas

Os custos de marketing e vendas para o ano fiscal de 2023 foram de US $ 356.000.

Categoria de despesa de marketing	Valor ($)
Marketing digital	142,000
Compensação da equipe de vendas	214,000

Daily Journal Corporation (DJCO) - Modelo de negócios: fluxos de receita

Taxas de licenciamento de software

Para o ano fiscal de 2023, o Daily Journal Corporation registrou receitas de licenciamento de software de US $ 4,2 milhões, representando um aumento de 3,7% em relação ao ano anterior.

Ano fiscal	Receita de licenciamento de software	Crescimento ano a ano
2022	US $ 4,05 milhões	2.1%
2023	US $ 4,2 milhões	3.7%

Assinaturas do sistema de gerenciamento judicial

As receitas de assinatura do sistema de gerenciamento judicial totalizaram US $ 6,8 milhões em 2023, com uma base de clientes de 127 jurisdições judiciais.

• Valor médio de assinatura por jurisdição: US $ 53.543
• Taxa de renovação: 92,4%
• Novas aquisições de jurisdição em 2023: 14

Vendas de publicação legal

As receitas de publicação legal atingiram US $ 2,5 milhões em 2023, com formatos digitais representando 68% do total de vendas de publicações.

Tipo de publicação	Receita	Porcentagem de total
Publicações impressas	$800,000	32%
Publicações digitais	US $ 1,7 milhão	68%

Serviços de arquivamento digital

As receitas de serviços de arquivamento digital foram de US $ 3,1 milhões em 2023, com uma taxa de crescimento anual composta de 5,6% nos últimos três anos.

Suporte de consultoria e implementação

O suporte à consultoria e implementação gerou US $ 2,4 milhões em receita durante 2023, com um valor médio de engajamento de US $ 87.000.

Categoria de serviço	Receita	Valor médio do projeto
Implementação inicial	US $ 1,5 milhão	$105,000
Suporte contínuo	$900,000	$62,000

Daily Journal Corporation (DJCO) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Daily Journal Corporation (DJCO) right now, which really boils down to two distinct business engines: the GovTech software side and the legacy publishing side, plus the unique capital structure that supports it all.

Modernizing justice systems with enterprise-level case management software

This is the operational core of Daily Journal Corporation now. The Journal Technologies segment sells enterprise solutions for courts and justice agencies, focusing on digitizing case records and enabling e-filing. This segment is the primary growth driver, contributing roughly 77% of the company's total Trailing Twelve Months (TTM) revenue of $79.15 million as of the nine months ended June 30, 2025. For the quarter ended June 30, 2025, this segment's revenues climbed 44% year-over-year to $18.5 million. The value proposition here is sticky; the high cost and operational risk for a government agency to replace a mission-critical case management system locks in the customer.

• Licensing and maintenance fees for the software advanced 11% to $8 million in the June 2025 quarter.
• Consulting fees nearly doubled to $6.5 million in the June 2025 quarter.
• Public service fees surged 63% to $4 million in the June 2025 quarter, partly due to increased e-filing activity.

Providing a legally mandated channel for public and legal notice advertising

The Traditional Business segment still provides a necessary service, though it is increasingly marginal compared to the software side. This segment provides legally mandated public notice advertising, a service that constituted about 14% of the company's total operating revenues in fiscal 2024. For the three months ended December 31, 2024, the Traditional Business saw advertising revenues increase by $192,000. More recently, for the quarter ended June 30, 2025, this segment generated $4.9 million in revenues, with advertising revenues rising 10% to $2.8 million.

Here's a quick look at the revenue mix based on the latest available operational data:

Revenue Source	Latest Reported Period	Amount/Percentage
Journal Technologies (Software) Revenue	9 Months Ended June 30, 2025 (as % of TTM)	Nearly 77%
Journal Technologies Revenue	Quarter Ended June 30, 2025	$18.5 million
Traditional Business Revenue	Quarter Ended June 30, 2025	$4.9 million
Public Notice Advertising Revenue	Fiscal 2024 (as % of Operating Revenue)	About 14%

Offering a stable, long-term capital allocation vehicle for shareholders

For shareholders, a key value proposition is the massive, non-operating marketable securities portfolio, which is the primary driver of the balance sheet valuation and net income volatility. As of March 31, 2025, Daily Journal Corporation held marketable securities valued at $431.49 million. By June 30, 2025, this portfolio was valued at $443 million. This investment focus means reported net income can fluctuate significantly based on market performance; for instance, net income for the six months ended March 31, 2025, was $55.57 million (or $40.34 per share), more than doubling the prior year, largely due to unrealized investment gains. However, for the quarter ended June 30, 2025, net income was $14.4 million (or $10.47 per share), a 38% decrease year-over-year, reflecting lower unrealized securities gains compared to the prior year's quarter. The company is also reducing its reliance on debt secured by these assets, with the investment margin loan balance at $25 million as of June 30, 2025.

Delivering specialized legal and business news to a niche professional audience

The legacy publishing arm, The Daily Journals, serves law firms and businesses needing to reach the legal professional community. The gross revenues from The Daily Journals are split, with approximately 54% coming from subscriptions and 46% from advertising and other revenues. The company publishes newspapers covering California, Arizona, Utah, and Australia. For example, as of September 30, 2024, the Los Angeles Daily Journal had about 3,805 paid subscribers, and the San Francisco Daily Journal had about 2,177 paid subscribers.

The market capitalization as of September 12, 2025, was $661 million. Finance: draft 13-week cash view by Friday.

Daily Journal Corporation (DJCO) - Canvas Business Model: Customer Relationships

Daily Journal Corporation (DJCO) engages clients through distinct relationship models tied to its two main operating segments: Journal Technologies (GovTech) and the Traditional Business.

High-touch, consultative relationships for complex software implementation

The implementation of Journal Technologies case management software for courts and justice agencies necessitates a consultative approach. This is evidenced by a decrease in consulting fees of $1,238,000 for the six months ended March 31, 2025, which partially offset revenue increases in other areas of the segment. The company's contracts for Journal Technologies are primarily located in the United States, with additional projects in Canada and Australia. The need for on-site work and product development support suggests a high level of direct engagement during initial deployment phases.

Long-term maintenance and support contracts for GovTech clients

The recurring nature of the GovTech business is anchored by maintenance and support. License and maintenance fees from Journal Technologies grew by $1,615,000 for the six months ended March 31, 2025, year-over-year. For the three months ended December 31, 2024, license and maintenance fees increased by $968,000 compared to the prior year period. This stream is the largest and highest-quality recurring revenue source for the software vertical. Journal Technologies pretax income for the three months ended December 31, 2024, was $456,000, up from $336,000 the prior fiscal year period.

The software vertical, as of June 2025, generated $53.8M in revenue, representing 77% of the total revenue mix. The relationship structure supports this by locking in clients due to generally high switching costs.

Revenue Component (6 Months Ended 3/31/2025)	Amount of Increase (vs. Prior Year)
Journal Technologies License and Maintenance Fees	$1,615,000
Journal Technologies Other Public Service Fees	$2,467,000
Traditional Business Advertising Revenues	$441,000

Subscription-based model for legal professionals and advertisers

The Traditional Business, which includes legal and advertising services, is described as increasingly marginal. Its revenue from advertising still saw growth, increasing by $441,000 for the six months ended March 31, 2025. For the quarter ending December 31, 2024, advertising revenues increased by $192,000. This segment is supported by a subscription model for legal professionals, though specific subscription revenue amounts are not separately itemized from total Traditional Business revenue.

Low-touch, transactional relationship for public service fee payments

Transactional revenue from public service fees is a component of the Journal Technologies segment. These fees increased by $2,467,000 for the six months ended March 31, 2025, compared to the prior year period. For the three months ended December 31, 2024, other public service fees increased by $1,242,000 year-over-year. The total consolidated revenue for the six months ended March 31, 2025, was $35,880,000.

• The company's trailing 12 months revenue ending June 30, 2025, was $79.16M.
• Consolidated revenues for the three months ended December 31, 2024, totaled $17,704,000.
• The Traditional Business pretax income grew by $0.3 million to $1.2 million for the six months ended March 31, 2025.

Daily Journal Corporation (DJCO) - Canvas Business Model: Channels

For Journal Technologies, the channel for direct sales and professional services involves direct engagement with public-sector organizations across multiple U.S. states for enterprise solutions like case management and e-filing platforms. The operating revenue growth for the nine months ended June 30, 2025, reached $45.9 million, with Journal Technologies accounting for approximately 77% of the total revenue mix as of June 2025. For the six months ended March 31, 2025, Journal Technologies saw its operating revenues increase, with license and maintenance fees rising by $1,615,000.

The print and digital subscription channel for the newspapers, like the San Francisco Daily Journal, is a key part of the Traditional Business segment. As of September 30, 2023, the combined paid subscribers for both the Los Angeles Daily Journal and the San Francisco Daily Journal totaled 5,640. The gross revenues generated directly by The Daily Journals were split, with approximately 56% coming from subscriptions in fiscal 2023. Digital access subscriptions offer full access to thedailyjournal.com, and subscribers can opt out of Premium Editions, which are charged at $6.00 each, as are the Thanksgiving print editions.

Secure public-facing websites are the primary channel for Journal Technologies' citizen engagement portals, used for e-filing cases and processing online payments for fees, fines, and court costs. The segment also generates fees through secure websites for the general public to pay traffic citations. For the six months ended March 31, 2025, other public service fees, which include these website transactions, increased by $2,467,000.

Direct-to-customer advertising sales cover both commercial display/classified advertising and public notice advertising required by law. For the six months ended March 31, 2025, the Traditional Business saw advertising revenues increase by $441,000 and advertising service fees and other increase by $98,000. The channel for legal notices, specifically trustee sales legal advertising, represented about 4% of the Company's total operating revenues in fiscal 2023.

Here is a look at the revenue drivers for the six months ended March 31, 2025, showing the channel impact:

Revenue Source/Channel Component	Increase in Revenue (6 Months Ended 3/31/2025 vs Prior Period)
Journal Technologies License and Maintenance Fees	$1,615,000
Journal Technologies Other Public Service Fees (e-filing/payments)	$2,467,000
Traditional Business Advertising Revenues	$441,000
Traditional Business Advertising Service Fees and Other	$98,000

The structure of the publishing channel also involves specific charges related to delivery and access:

• The charge for each Premium Edition is $6.00.
• The Thanksgiving print edition is charged at $6.00.
• A $5.00 paper statement fee is applied unless the subscriber uses EZ Pay.

The overall market valuation reflects the combined business channels, with the stock price at $399.58 and a market cap of $550M as of July 31, 2025. Finance: draft 13-week cash view by Friday.

Daily Journal Corporation (DJCO) - Canvas Business Model: Customer Segments

You're looking at the core groups Daily Journal Corporation (DJCO) serves, which is a mix of government/legal entities and capital markets participants. Honestly, the split between their software business and their publishing legacy is key to understanding these segments right now.

The software side, Journal Technologies, is clearly the operating core, serving government and justice systems. As of the nine months ended in fiscal 2025, this vertical generated 77% of total revenues. For the quarter ending March 31, 2025, the software segment contributed to total revenues of $18.2 million.

The traditional publishing customers, which include legal professionals and those needing mandated notices, are now a smaller piece of the pie. For the six months ended March 31, 2025, the Traditional Business saw advertising revenues increase by $441,000. That segment's pretax income for the same period rose by $310,000 to reach $1,171,000.

Here's a quick look at how the revenue split looked based on the latest figures we have:

Segment	Revenue Contribution (Nine Months FY2025)	Pretax Income (H1 2025)
Journal Technologies (Software/GovTech)	77%	$534,000
Traditional Business (Publishing/Notices)	Marginal (Approx. 23%)	$1,171,000

The final, and perhaps most unique, customer segment is the investor base seeking exposure to the concentrated, value-oriented investment portfolio, which is managed separately from the operating businesses. As of the September 30, 2025, 13F filing, the total portfolio value was calculated to be $262,245,445 USD. This portfolio is highly concentrated in just four holdings.

You can see the breakdown of that investment segment below:

• US and international government agencies, courts, and justice departments: Primarily served by Journal Technologies, which also accounted for other public service fees of $2,467,000 in the first half of 2025.
• Legal professionals (attorneys, judges, paralegals) requiring legal news: Served by the Traditional Business segment, which includes newspapers and information services for the legal industry in California.
• Public and commercial entities requiring mandated public notice advertising: Served by the Traditional Business, which saw advertising revenues increase by $441,000 for the six months ended March 31, 2025.
• Investors seeking exposure to a concentrated, value-oriented investment portfolio: This segment is defined by the marketable securities portfolio, valued at $431,490,000 as of March 31, 2025.

The composition of the investment portfolio as of September 30, 2025, shows this concentration:

Holding	Portfolio Weight	Value (Approximate)
WELLS FARGO & CO (WFC)	45.16%	$118M
BANK OF AMERICA CORP (BAC)	39.34%	$103M
ALIBABA GROUP HOLDING-SP ADR (BABA)	13.29%	$35M
US BANCORP (USB)	2.20%	$5.8M

Finance: draft 13-week cash view by Friday.

Daily Journal Corporation (DJCO) - Canvas Business Model: Cost Structure

You're looking at the cost side of Daily Journal Corporation (DJCO) for late 2025, and it's clear the technology push is driving significant operational spending, even as the legacy side faces its own pressures. Here's the quick math on where the money is going, based on the nine months ended June 30, 2025, figures.

High personnel costs for software development and consulting services are a major driver within the Journal Technologies segment. The overall increase in operating expenses for this segment directly reflects investment in human capital and external support for product development and installation projects. For the nine months ended June 30, 2025, the segment saw operating expenses increase by $4,355,000 compared to the prior year period.

The specific cost drivers within Journal Technologies for that nine-month period included:

• Increased personnel costs due to annual salary adjustments.
• Additional contractor services and new staff hiring for product development.
• Bolstering teams working on Company's installation projects.

Third-party hosting and infrastructure fees for the GovTech platform are explicitly named as a component of these rising technology costs. The operating expense increase for Journal Technologies for the nine months ended June 30, 2025, was partially due to these increased third-party hosting fees which were billed to clients.

Traditional publishing costs: printing, distribution, and editorial staff are less explicitly broken out, but we see the impact of personnel-related costs in this segment. For the nine months ended June 30, 2025, the Traditional Business segment's pretax income decreased to $237,000 from $1,601,000. This was primarily due to increased expenses of $2,290,000, largely driven by an increase in the long-term supplemental compensation accrual. This compensation accrual suggests a significant cost burden related to editorial or long-term staff commitments.

Operating expenses for the Journal Technologies segment, which increased by $4.4 million in the nine months ended June 30, 2025, are a key focus area. To give you a broader view of the operating expense trend, for the quarter ended June 30, 2025, operating expenses rose 23% year over year to $20.2 million, driven by salary adjustments, new hires, and increased legal costs.

Here is a breakdown of the key expense-related movements and context for the nine months ended June 30, 2025:

Cost Component / Segment Metric	Amount (Nine Months Ended June 30, 2025)	Comparison Period / Context
Journal Technologies Operating Expense Increase	$4,355,000	Compared to prior fiscal year period
Traditional Business Expense Increase (Compensation Accrual)	$2,290,000	Main driver for pretax income decrease
Journal Technologies Operating Revenue Increase	$8,302,000	Partially offset the expense increase
Journal Technologies Quarterly Operating Expenses	$20.2 million	For the quarter ended June 30, 2025
Journal Technologies Quarterly Operating Expense Growth	23%	Year over year for the quarter ended June 30, 2025

The cost structure is clearly bifurcated between maintaining the traditional publishing base and aggressively funding the growth engine in Journal Technologies. The $4.4 million increase in Journal Technologies operating expenses for the nine months ended June 30, 2025, is the most concrete figure representing the investment in software development and infrastructure.

You can see the impact of these costs on segment profitability:

• Journal Technologies pretax income for the nine months ended June 30, 2025, was $4,692,000.
• Traditional Business pretax income for the nine months ended June 30, 2025, was $237,000.

Finance: draft 13-week cash view by Friday.

Daily Journal Corporation (DJCO) - Canvas Business Model: Revenue Streams

Daily Journal Corporation (DJCO) revenue streams are primarily split between its Journal Technologies segment and the legacy Traditional Business segment, supplemented by non-operating income.

The Journal Technologies segment, focused on judicial software, showed strong growth in recurring revenue streams for the nine months ended June 30, 2025.

Revenue Component	Period Ending June 30, 2025 Change
Software license and maintenance fees increase	$2,418,000
Consulting fees increase	$1,853,000

Consulting and professional services fees for software installation contributed to the growth, with consulting fees specifically increasing by $1,853,000 for the nine months ended June 30, 2025. This aligns with the requested increase of approximately $2.4 million in license and maintenance fees for the same period.

Non-operating income is a significant component, heavily influenced by the investment portfolio.

• Marketable securities portfolio value as of June 30, 2025: $443 million.
• Net pretax unrealized gains on marketable securities for the nine months ended June 30, 2025: $303.9 million.
• Dividends and interest income for the six months ended March 31, 2025: $2,362,000.

The Traditional Business segment continues to generate revenue from advertising and subscriptions, though its contribution is becoming more marginal relative to the software business.

Advertising and subscription revenue from the Traditional Business segment for the six months ended March 31, 2025, included the following components:

• Advertising revenues: $441,000.
• Advertising service fees and other: $98,000.

The Traditional Business segment's pretax income for the nine months ended June 30, 2025, was $237,000.