Trump Media posts $238 million second-quarter loss as crypto declines
TMTG’s quarterly operating expenses of more than $165 million were roughly 275% higher year over year.
“Our operating expenses are largely impacted by the price volatility of digital assets,” Chief Financial Officer Phillip Juhan said during the company’s first-ever earnings call.
The company also provided new details about Truth API, its controversial new service offering faster access to Trump’s Truth Social posts.
TMTG said it has signed “more than 10 customer agreements to date,” adding that those clients are “primarily high-frequency trading firms” and are paying rates of $60,000 to $100,000 a month, the company confirmed.
Trump Media Technology was created after Trump was temporarily suspended from social media platforms in the wake of the Jan. 6, 2021, Capitol riot. It went public through a merger with a special purpose acquisition company and started trading on the Nasdaq in 2024 under the ticker DJT, which match the president’s initials.
Truth Social was the company’s first product, but it later expanded into a variety of other industries, including crypto, financial services and fusion power.
TMTG interim CEO Kevin McGurn told Axios on Friday that the company is pulling back from two agreements it struck with Crypto.com as it focuses on its media business and a pending merger with TAE, the fusion energy firm.
McGurn said in Monday’s earnings call that the combination with TAE is “the single most important driver of long-term value for this company.”
There are currently no commercial plants producing electricity using fusion tech.
TMTG stock, which is now worth a fraction of what it fetched when it first started trading, closed down 8% Monday.
Article source: https://www.cnbc.com/2026/08/10/trump-media-djt-tmtg-earnings-truth-social-crypto.html