"Truth Social's parent company, Trump Media and Technology Group, lost more than $400 million last quarter and brought in less than $1 million in sales, according to a Friday press release from the company. The company reported $871,200 in revenue during the first three months of 2026, a modest increase from the same period a year earlier, alongside a $405.9 million net loss and a $387.8 million adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) loss."
"Trump Media said most of the red ink stemmed from accounting-related charges rather than day-to-day operations, citing non-cash losses including unrealized losses on digital assets, digital assets pledged, and equity securities ($368.7 million), accreted interest ($11.5 million), and stock-based compensation ($11.8 million). The company reported $871,200 in revenue during the first three months of 2026, a modest increase from the same period a year earlier, alongside a $405.9 million net loss and a $387.8 million adjusted EBITDA loss."
"Notably, President Donald Trump's revocable trust owned about 41% of the company's outstanding shares as of the end of April, according to Trump Media's most recent annual filing. They recorded a $712 million net loss in 2025. Trump Media said most of the red ink stemmed from accounting-related charges rather than day-to-day operations, citing non-cash losses including unrealized losses on digital assets, digital assets pledged, and equity securities ($368.7 million)."
"The earnings release marks the first quarterly report since former Rep. Devin Nunes (R-CA) stepped down as chief executive last month. Trump Media named media executive Kevin McGurn, whose resume includes roles at Hulu, Vevo, and T-Mobile, as interim CEO. At the time, Nunes wrote on Truth Social, This will allow me to focus more intently on my role as Chairman of the President's Intelligence Advisory Board and on other ventures, knowing the company is in safe hands under Kevin's stewardship."
Trump Media and Technology Group reported $871,200 in revenue for the first three months of 2026, alongside a $405.9 million net loss and a $387.8 million adjusted EBITDA loss. The company attributed most losses to accounting-related charges rather than day-to-day operations, including non-cash unrealized losses on digital assets, digital assets pledged, and equity securities totaling $368.7 million, accreted interest of $11.5 million, and stock-based compensation of $11.8 million. President Donald Trump’s revocable trust held about 41% of outstanding shares as of late April. The company ended the quarter with $2.2 billion in total assets and about $2.1 billion in financial holdings, and it generated positive operating cash flow for a fourth consecutive quarter, totaling $17.9 million.
Read at www.mediaite.com
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