Trump Media & Technology Group Corp. (DJT)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$4.5M

Revenue growth

21.6%

Net income, last twelve months

-$1.3B

Gross margin

33.7%

Operating margin

-20955.8%

Net margin

-28860.4%

Free cash flow

$8.5M

Return on equity

-127.5%

Market value

$1.7B

Cash

$215.5M

Debt

$970.3M

Debt to equity

0.95

Shares outstanding

277.9M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of 2026 results, filed 10 August 2026.

• Revenue rose 89 percent. Revenue was $1.7 million, up 89 percent from $0.9 million in the second quarter of 2025. The first quarter of 2026 revenue was also $0.9 million.
• Net loss mostly non-cash. The net loss was $238.1 million and the Adjusted EBITDA loss was $223.5 million. Management said most of the loss was non-cash.
• Loss larger than first quarter. The first quarter of 2026 reported a $405.9 million net loss and a $387.8 million Adjusted EBITDA loss.
• Truth API launched August 1. Truth API is a business-to-business data feed subscription giving licensed, low latency access to publicly-available posts from certain top Truth Social accounts.
• Institutional customers onboarded early. The company says it onboarded a number of institutional customers before the August 1 launch.
• Criticism of product disputed. Management said it believes criticism of Truth API is factually inaccurate, and that the company continues to add partners.
• New revenue stream expected. Management expects Truth API to provide the company with a new revenue stream.
• Financial assets near $1.9 billion. Total assets were $2.0 billion and financial assets were about $1.9 billion, including cash, digital assets and equity securities. The prior quarter reported $2.2 billion and $2.1 billion.
• Cash used in operations. Cash used in operating activities was $13.7 million, including $25.6 million of legal expenses, primarily related to legacy litigation.
• Prior quarter operating cash positive. The first quarter of 2026 was reported as the fourth consecutive quarter of positive operating cash flow, with $17.9 million provided by operating activities.
• Digital asset treasury framework. Management said the new framework keeps long-term strategic exposure while managing volatility and the productivity of the balance sheet.
• Legacy legal matters resolved. Management said legacy legal matters have been substantially resolved, as part of streamlining the strategic vision and focusing resources on growth.
• Legal expenses expected to decline. Legal expenses, which formed a large part of general and administrative costs, are expected to begin declining materially, allowing a leaner structure.
• Non-cash accreted interest and stock pay. Non-cash items in the quarter included accreted interest of $11.7 million and stock-based compensation of $8.1 million.

Revenue by segment

As the company reports it in the segment note of its annual report.

By business, FY2025

Company events

The newest 8-K filings of 190 held.

Every filing

The newest filings with the SEC of 502 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Trades by members of the House

From each member's periodic transaction report.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

381 funds held it at 30 Jun 2026: 120 added and 68 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Alphabet Inc. (GOOGL): revenue $445.9B, market value $3.98T
• Alphabet Inc. (GOOG): revenue $445.9B, market value $3.94T
• Meta Platforms, Inc. (META): revenue $241.6B, market value $1.58T
• AppLovin Corp. (APP): revenue –, market value $87.2B
• Zoom Communications, Inc. (ZM): revenue $5.0B, market value $30.1B
• Baidu, Inc. (BIDU): revenue $18.0B, market value $27.1B
• Tempus AI, Inc. (TEM): revenue $1.4B, market value $14.0B
• Flutter Entertainment plc (FLUT): revenue $17.2B, market value $13.6B
• Pinterest, Inc. (PINS): revenue $4.6B, market value $11.8B
• DigitalOcean Holdings, Inc. (DOCN): revenue $1.0B, market value $11.0B

What the company does

Trump Media & Technology Group Corp., which the filing calls TMTG, operates the social media platform Truth Social and the streaming service Truth+. It has also launched Truth.Fi, a financial services and FinTech brand, and holds bitcoin and other digital assets as a treasury strategy. The company describes its mission as ending Big Tech's assault on free speech. It had approximately 31 full-time employees at 31 December 2025, and its executive offices are in Sarasota, Florida. TMTG became a public company on 25 March 2024 through a merger with Digital World Acquisition Corp.

What it runs

Truth Social was generally made available in the first quarter of 2022. The iOS app launched in April 2022, the web application in May 2022, and the Android app in October 2022. An iPad app was announced in July 2025. Direct messaging came in 2022, a "Groups" feature in May 2023, and general availability internationally in June 2023.

Later additions include a "for you" feed, a "discover" tab, and a beta of an AI search feature called Truth Search AI. The company moderates content with human moderators and an artificial intelligence vendor known as HIVE.

How it makes money

According to the filing, all revenue so far comes from two sources. One is advertising on Truth Social, shown as posts in users' feeds. The other is subscriptions to the Patriot Package on Truth+. The company says it relies on advertising for a majority of its revenue.

Rumble sells the advertising space through an auction it operates. Under the current agreement, 70% of gross revenues from the sale of Ad Units go to TMTG. Ad Units make up at least 85% of the paid advertisements TMTG places directly into Truth Social feeds each month.

Truth+ streaming

Truth+ carries live TV channels and on-demand content. The company describes its focus as family-friendly programming. Streaming rolled out in three phases:

- Phase 1 was streaming inside the Truth Social app. - Phase 2 was standalone apps for Android, iOS and the web. - Phase 3 was connected TV apps for Apple TV, Android TV, Amazon Fire TV and Roku.

Truth+ became available in Canada and Mexico as well as the United States in April 2025. The company announced a global streaming launch on 7 July 2025. Content includes on-demand programming from the Great American Media broadcaster and the British news broadcaster GB News, along with live 24-hour news streams.

The delivery network behind Truth+ uses software and source code acquired from WorldConnect Technologies and Perception. The company says it is developing ways to earn money from Truth+, including advertising.

Truth.Fi, bitcoin and Cronos

Truth.Fi covers investment products. SMAs were launched on 15 April 2025. On 30 December 2025 the company announced five ETFs on the New York Stock Exchange:

- TSSD (Truth Social American Security & Defense ETF) - TSFN (Truth Social American Next Frontiers ETF) - TSIC (Truth Social American Icons ETF) - TSES (Truth Social American Energy Security ETF) - TSRS (Truth Social American Red State REITs ETF)

Yorkville America acts as registered investment advisor for these products and earns a Sponsor Fee. TMTG provides a majority of Yorkville America's operating funding in exchange for a majority of its net profit, and it consolidates Yorkville America as primary beneficiary. Truth Predict is a newer brand. The company says it aims to offer prediction markets on Truth Social through an arrangement with Crypto.com Derivatives North America.

The company's treasury strategy involves raising debt or equity and using the proceeds to buy bitcoin and related securities. In May 2025 it closed a private placement with approximately 50 investors that combined a stock sale with 0.00% convertible senior secured notes due 2028. In August 2025 it gave Foris Holdings US 2,797,985 shares of common stock plus cash in exchange for 684,427,004 Cronos, the native cryptocurrency of the Cronos blockchain.

Pending transactions

On 26 August 2025 TMTG agreed to a business combination with Yorkville Acquisition Corp, a special purpose acquisition company. The deal would create Trump Media Group CRO Strategy, a digital asset treasury company focused on Cronos. TMTG would be restricted from disposing of its ownership for 36 months after closing.

On 18 December 2025 TMTG agreed to merge with TAE Technologies. The company says it expects its existing shareholders and TAE's shareholders each to own approximately 50% of the combined company on a fully diluted basis. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act expired on 19 February 2026. The merger still requires stockholder approvals and other conditions.

Reliance on Donald Trump

TMTG uses the name and likeness of President Donald J. Trump under a royalty-free License Agreement. The agreement requires him to post non-political content from his personal accounts on Truth Social first and to wait 6 hours before posting it elsewhere. Posts he considers related to government or politics are excluded. He may end this exclusivity on thirty days' notice. The Donald J. Trump Revocable Trust beneficially owns approximately 41.1% of the voting power of TMTG common stock.

The filing says the business depends in part on his popularity and on his bringing his former followers to the platform. It also records that the United States Patent and Trademark Office has issued non-final rejections of several "Truth Social" trademark applications for use with a social media network or streaming video service.

None of TMTG's employees are covered by a collective bargaining agreement. The company reports no material work stoppage.

*From Trump Media & Technology Group's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1849635/000114036126007174/ef20062365_10k.htm)*

From the company's 10-K.