The parent company of President Donald Trump’s Truth Social network reported more than $405 million in first-quarter net losses this year, in the latest sign of trouble at the media conglomerate, after it replaced its CEO last month.
During the first quarter, Trump Media and Technology Group posted net sales of just over $871,000, according to the financial results.
The company, whose activities span Truth Social, digital assets, and forthcoming access to prediction markets, attributed the losses to “unrealized losses on digital assets, digital assets pledged, and equity securities ($368.7 million), accreted interest ($11.5 million), and stock based compensation ($11.8 million).”
In a press release, the company touted figures including its $2.2 billion in total assets and its fourth consecutive quarter of positive operating cash flow.
As of Friday evening, TMTG stock was just under $9, down for the year, and having shrunk by more than ten times since the stock’s 2022 record high.
The quarterly results are the latest poor showing for the president’s media company, of which his family owns a near-majority stake.
In the last three years, net losses have accelerated, growing from $58.2 million in 2023 to $400.9 million in 2024 to more than $712 million in 2025.
Last month, Trump Media replaced longtime CEO, former GOP congressman Devin Nunes.
The company has looked to unexpected business lines to generate investor enthusiasm.
In December, it agreed on a more than $6 billion, all-stock deal to merge with nuclear fusion company TAE Technologies, in a deal expected to close in mid-2026, citing the demand for energy to power AI.
TAE plans to start construction this year on a fusion plant, intending to generate electricity by 2031.
Scientists have not been able to build nuclear fusion systems that reliably produce more energy than they consume, let alone commercialize them.
In October, Trump Media said it would start making prediction markets available on Truth Social.
The president’s son, Donald Trump Jr., is an adviser to Kalshi and Polymarket, two existing prediction markets.
