Trump Media Reports $405 Million Net Loss in First Quarter

Trump Media and Technology Group, the parent company of President Donald Trump’s Truth Social network, reported more than $405 million in first-quarter net losses this year. The results follow the replacement of its CEO last month. The company is considering spinning off its Truth Social network.

During the first quarter, Trump Media and Technology Group posted net sales of just over $871,000. The company attributed the losses to unrealized losses on digital assets, digital assets pledged, and equity securities totaling $368.7 million, along with accreted interest of $11.5 million and stock-based compensation of $11.8 million.

In a press release, the company highlighted $2.2 billion in total assets and its fourth consecutive quarter of positive operating cash flow. As of Friday evening, the company’s stock traded just under $9 per share. The stock is down for the year and has declined by more than ten times since its 2022 record high.

The family of President Donald Trump owns a near-majority stake in the company.

Net losses at the company have grown over the last three years, rising from $58.2 million in 2023 to $400.9 million in 2024 to more than $712 million in 2025. The first-quarter 2026 results continue that trend. The company replaced its longtime CEO, former GOP congressman Devin Nunes, last month.

The company has pursued new business lines to generate investor interest. In December, it agreed to a more than $6 billion all-stock deal to merge with nuclear fusion company TAE Technologies. The deal is expected to close in mid-2026, citing demand for energy to power artificial intelligence.

TAE Technologies plans to start construction this year on a fusion plant with the intention of generating electricity by 2031. Scientists have not yet built nuclear fusion systems that reliably produce more energy than they consume. In October, the company said it would start making prediction markets available on Truth Social.