Key Financial Data
- Realized income: $61.1 million
- Net income: -$54.8 million
- Legal expenditures: $20.3 million
- Digital asset holdings: 684.4 million tokens
- Operating cash flow: $10.1 million
- Financial assets: $3.1 billion (+1,031% year-over)
- Read more Q3 2025 media earnings coverage
Trump Media and Technology Group reported a wider third quarter (Q3) loss and lower revenue as legal and non-cash expenses weighed on results, even as the company expanded its digital asset portfolio and deepened its ties to the cryptocurrency sector.
The parent of Truth Social posted a net loss of $54.8 million for the three months ended September 30, widening from a $19.2 million loss in the same period last year. Revenue fell 3.8 percent to $972,900, driven primarily by advertising on its social media platform. Shares of the company, which trade under the ticker DJT, fell more than 3 percent Friday to $12.90 and are down more than 60 percent year-to-date.
Stock Price
The Sarasota, Florida-based company, led by Chief Executive Officer Devin Nunes, said the loss reflected $20.3 million in legal expenses tied largely to its 2024 merger with a special-purpose acquisition company. That deal, which took Trump Media public, has been described internally as one of the longest SPAC transactions in history. The company also logged $54.1 million in non-cash losses from changes in the value of its digital assets, stock-based compensation, and depreciation.
Despite those headwinds, Trump Media emphasized what it called a “transformative” quarter. Total assets stood at $3.27 billion, up sharply from $938 million at the end of 2024, including $1.47 billion in digital assets. Those holdings comprise cash, short-term investments, securities, and approximately 15,000 bitcoin, valued at roughly $1.5 billion. The company said it earned $15.3 million from bitcoin option premiums during the quarter, marking its second consecutive period of positive operating cash flow.
“The third quarter was crucial to Trump Media’s expansion plans,” Nunes said in a statement. “Though we only went public last year, we’ve built up our own robust, un-cancellable infrastructure, expanded into new sectors, formed extraordinary partnerships, and secured our financial future with a massive bitcoin treasury.”
Trump Media also expanded its partnership with Crypto.com, purchasing 684 million CRO tokens using $50 million in cash and $47 million in stock. The investment is part of a broader strategy to create a new subsidiary, Trump Media Group CRO Strategy Inc., which will manage a treasury of CRO assets and integrate rewards into Truth Social.
In addition to Truth Social, Trump Media’s portfolio includes the Truth Plus subscription video service, conservative news channels such as Newsmax and Real America’s Voice, the fintech brand Truth.Fi, and other digital ventures.
The company did not disclose user metrics for its platforms but said it remains focused on monetization, acquisitions, and expanding its digital and financial ecosystem.
