Trump Media Posts $405.9 Million Net Loss on $871,200 in Q1 Sales

Trump Media and Technology Group, the operator of social-media platform Truth Social, reported a $405.9 million net loss on net sales of $871,200 for the first quarter of 2026. Sales rose 6 percent from the same period a year earlier. The company attributed the vast bulk of losses to non-cash items, including $368.7 million in unrealized losses on digital assets and equity securities, $11.5 million in accreted interest, and $11.8 million in stock-based compensation. Adjusted EBITDA loss was $387.8 million. TMTG closed the quarter with total assets of $2.2 billion and financial assets of approximately $2.1 billion, up from $759 million at the end of the first quarter of 2025. The company reported its fourth consecutive quarter of positive operating cash flow, with $17.9 million provided by operating activities. The earnings follow the April departure of chief executive Devin Nunes, who had led the company since 2022. Kevin McGurn, a former executive at Hulu, Vevo, and T-Mobile, was named interim CEO. TMTG trades on the Nasdaq under the ticker DJT and has a market capitalization of about $2.47 billion. The stock is down 35 percent year-to-date. In December, TMTG announced an all-stock merger with nuclear fusion company TAE Technologies valued at more than $6 billion, expected to close in mid-2026. The company said it is also considering a potential spin-off of businesses including Truth Social into a new publicly traded company after the TAE merger closes.