Trump in red ink calamity as media company loses $400 million in last quarter



A recent SEC filing reveals President Donald Trump’s Truth Social’s parent company, Trump Media and Technology Group, sloughed off more than $400 million last quarter and brought in only a few hundred thousand dollars in sales.

Trump’s family may be cashing in big through government contracts and federally-enabled crypto schemes, but the president’s own social media company appears to be bleeding.

The company reported only $871,200 in revenue in the first three months of 2026, but also revealed a nearly $406 million net loss in 2026, which amounted to a total $387.8 million loss after accounting for earnings, taxes, depreciation, and amortization.

The company blamed its $405.9 million net loss and a $387.8 million Adjusted EBITDA loss for “non-cash losses including unrealized losses on digital assets, digital assets pledged, and equity securities, accreted interest, and stock-based compensation.”

Despite the red ink, the company claims “a strong balance sheet” and that it will be “continuing to pursue all its strategic priorities, including expanding and enhancing its flagship Truth Social and Truth+ platforms.”

Company representatives also skewed optimistic claiming Truth Social “is currently developing or testing numerous new features,” which include expanding international offerings and updating the look of the platform.

TMTG Interim Chief Executive Officer Kevin McGurn added a personal note to the SEC submission, claiming Trump Media is using its “strong balance sheet and positive operating cash flow” to continue growing businesses and platform infrastructure while it works to merge TAE Technologies “as quickly as possible.”

Representatives insist Truth Social “remains a bastion of free speech with innovative enhancements coming soon.”



from Alternet.org https://ift.tt/Tncd2f8
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