Trump Media & Technology Group posted another large net loss for the second quarter of 2026, of $238.1 million, while the company generated $1.7 million in sales for the period.
Donald Trump is the largest shareholder in TMTG, holding more than 40% of its shares through a revocable trust, according to a July 21 Bloomberg report. The company operates Truth Social, President Trump’s favored social media platform.
The company $238.1 million net loss for the June quarter compares with a $20 million net loss in the year-earlier period. TMTG said the “vast bulk” of its losses in Q2 of 2026 were “non-cash losses,” including unrealized losses on digital assets, digital assets pledged and equity securities ($190.4 million). The company reported $25.6 million in legal expenses in the most recent quarter, primarily related to “legacy litigation” that has now been “substantially resolved.” TMTG’s $1.7 million in revenue was up 89% from $883,300 generated in the second quarter of 2025.
TMTG said it ended Q2 with total assets of $2.0 billion and financial assets of approximately $1.9 billion comprising cash, restricted cash, short-term investments, equity securities, note receivable and accrued interest, digital assets and digital assets pledged.
On Aug. 1, TMTG launched a new “Truth API” service that provides instant access to “the highest-ranking” accounts on Truth Social — including Trump’s — charging as much as $100,000 per month. The move has drawn criticism from both Democrats and Republicans, including Sen. Bill Cassidy (R-La.), who called it “a form of buying access.” In announcing earnings Monday, TMTG said it had “onboarded a number of institutional customers prior to its August 1, 2026, launch and, despite receiving what it believes to be factually inaccurate criticism of Truth API, is continuing to onboard additional partners.”
TMTG says its mission is “to end Big Tech’s assault on free speech by opening up the Internet and giving people their voices back.” The company was founded in February 2021 after Trump was suspended from platforms including Twitter (now called X), Facebook, Instagram and YouTube; those services said Trump had violated rules against inciting violence in connection with the Jan. 6, 2021, attack on the U.S. Capitol.
In December 2025, Trump Media announced a merger agreement with nuclear fusion company TAE Technologies in an all-stock deal valued at more than $6 billion. The companies had expected to close the transaction by mid-2026; on Monday, TMTG said the TAE merger is targeted to close in Q4 2026.
“Over the past few months, we’ve sharpened our strategic direction and brought real discipline to how we allocate capital,” TMTG interim CEO Kevin McGurn, a former Hulu exec, said in a statement. “We’re making meaningful progress toward our proposed merger with TAE Technologies, which we believe is the most important driver of long-term shareholder value and a natural extension of our commitment to building durable, un-cancelable infrastructure, this time in energy security. At the same time, we’ve refined our approach to capital allocation to better direct resources to the core pillars of our media business, and that effort is already yielding results.”
Meanwhile, on Aug. 7, TMTG and Yorkville Acquisition Corp. (a blank-check company incorporated in the Cayman Islands set up for the purposes of M&A) announced an agreement to “mutually terminate their previously announced proposed business combination to establish Trump Media Group CRO Strategy, Inc.” — which had been described as a “digital asset treasury company focused on acquisition of the native cryptocurrency token of the Cronos ecosystem (‘CRO’)” — citing “prevailing market conditions” and “shifting business and stakeholder priorities.” In addition, Crypto.com, Trump Media and Yorkville America mutually agreed not to pursue their previously announced partnership, under which Crypto.com was to service certain of Yorkville America’s anticipated electronically traded fund (ETF) offerings.
Originally, TMTG and Crypto.com’s agreement called for Trump Media to introduce a rewards system on the Truth Social and Truth+ platforms that used Crypto.com’s digital wallet infrastructure and that adopted the CRO digital currency as a utility token. In a joint press release last Friday, TMTG and Crypto.com said: “Rather than develop a direct prediction market integration on Truth Social, the companies will pivot to a marketing agreement under which Crypto.com’s prediction markets experiences will be marketed to the Truth Social user base.”
