Key Takeaways:
Trump Media & Technology Group posted a $238.1 million Q2 net loss on $190.4 million in unrealized digital asset losses.
"We've sharpened our strategic direction and brought real discipline to how we allocate capital," Interim Chief Executive Officer Kevin McGurn said on the company's first-ever earnings call.
Revenue rose 89 percent to $1.7 million from $0.9 million a year earlier, mostly from advertising on Truth Social. Adjusted EBITDA loss widened to $223.5 million from $12.8 million. Operating expenses exceeded $165 million, up roughly 275 percent year over year, with CFO Phillip Juhan attributing the increase largely to digital asset price volatility.
For the first six months of 2026, the net loss totaled $644.0 million versus $51.7 million in the first half of 2025. Adjusted EBITDA loss for the six-month period reached $611.3 million, compared with $32.7 million a year earlier.
The company outlined strategic priorities including completing the TAE merger, implementing a more disciplined digital asset treasury management framework, and scaling its marketing strategy to reach the total addressable market for Truth Social and Truth+.
The company ended the quarter with $2.0 billion in total assets, including approximately $1.9 billion in financial assets comprising cash, restricted cash, short-term investments, equity securities, note receivable and accrued interest, digital assets, and digital assets pledged. Cash used in operating activities totaled $13.7 million, including $25.6 million in legal expenses tied to legacy litigation that management says has been substantially resolved.
Truth API, the company's data licensing product launched Aug. 1, has signed more than 10 customer agreements, primarily high-frequency trading firms paying $60,000 to $100,000 per month for low-latency access to posts from top Truth Social accounts. The product adds a business-to-business revenue stream alongside Truth Social, Truth+ streaming, and the Truth.Fi financial services brand.
The company said it is making progress toward its proposed merger with TAE Technologies, a fusion energy company, targeting completion in Q4 2026 subject to regulatory and closing conditions. TMTG plans to file a Form S-4 registration statement with the SEC for the transaction.
Shares of DJT fell 8 percent on the report, bringing the company's market capitalization to approximately $2.8 billion. The stock has faced pressure as Truth Social traffic declined sharply this summer, according to a New York Times report.
The loss highlights the company's heavy exposure to digital asset volatility, which accounted for the vast majority of the quarterly deficit. Investors will watch for the S-4 filing and shareholder vote on the TAE merger as the next major events.
This article is for informational purposes only and does not constitute investment advice.
