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Trump Media posts $405M Q1 loss as it bets on fusion energy and prediction markets
business19 days ago

Trump Media posts $405M Q1 loss as it bets on fusion energy and prediction markets

Trump Media and Technology Group reported more than $405 million in first-quarter net losses on just over $871,000 in net sales, attributing the red ink to unrealized losses on digital assets, pledged assets, accreted interest and stock-based compensation; the company pointed to $2.2 billion in total assets and a fourth consecutive quarter of positive operating cash flow. It has replaced its CEO, is pursuing a more than $6 billion all-stock merger with fusion-energy firm TAE Technologies, plans to offer prediction markets on Truth Social, and is considering spinning off Truth Social as the stock trades around $9.

via The Independent|
#business#crypto#donald-trump
Trump Media’s Q1 Revenue Tiny, $406M Loss Fueled by Non-Cash Write-Downs
business19 days ago

Trump Media’s Q1 Revenue Tiny, $406M Loss Fueled by Non-Cash Write-Downs

Trump Media & Technology Group, operator of Truth Social, reported Q1 2026 net sales of about $871,000 (up 6% YoY) and a $405.9 million net loss, with a $387.8 million adjusted EBITDA loss, driven largely by non-cash charges including unrealized digital-asset losses, asset pledges, accreted interest, and stock-based compensation. The company also posted a $17.9 million positive cash flow from operations and said it is pursuing growth initiatives, including expanding Truth Social and advancing its merger with TAE Technologies.

via Variety|
#business#net-loss#non-cash-losses
Trump Media taps Kevin McGurn to steer Truth Social after $6B stock wipeout
business1 month ago

Trump Media taps Kevin McGurn to steer Truth Social after $6B stock wipeout

Trump Media & Technology named Kevin McGurn as interim CEO of Truth Social, replacing Devin Nunes after the stock fell about 67% and wiped out more than $6 billion in investor wealth. Nunes earned about $47 million in 2024; the company did not explain the departure or provide a timeline for a permanent replacement. McGurn said the platform is poised to take off. The firm, created to challenge Facebook and Twitter, has struggled to gain traction and has posted heavy losses, while branching into crypto and prediction markets.

via PBS|
#business#devin-nunes#kevin-mcgurn
Nunes exits Trump Media as CEO to focus on security advisory role
politics1 month ago

Nunes exits Trump Media as CEO to focus on security advisory role

Former congressman Devin Nunes is stepping down as CEO of Trump Media & Technology, the company behind Truth Social, after more than four years at the helm. He said he will focus on his role as chairman of Trump’s intelligence advisory board and other ventures, with Kevin McGurn named interim CEO. The company has struggled financially, posting significant losses and a plunging stock price since going public, and while it once projected rapid growth, its actual performance so far has disappointed investors. Trump maintains majority control of the firm, whose long-term ambitions have yet to be realized.

via The Washington Post|
#devin-nunes#leadership-change#politics
Trump Media Weighs Spin-Off of Truth Social Into a Standalone Public Shell
business2 months ago

Trump Media Weighs Spin-Off of Truth Social Into a Standalone Public Shell

Trump Media & Technology Group is considering spinning off its loss‑making Truth Social into a separate publicly traded shell and merging it with the Cayman Islands–based SPAC Texas Ventures Acquisition III, as part of a broader strategy that also includes a merger with fusion power company TAE Technologies. Details are scarce and no decision has been made; the move would create a pure‑play entity for Truth Social while the parent pursues other ventures, with Trump Media’s stock around $11 and a history of losses.

via The New York Times|
#business#mergers-and-acquisitions#spac