Khaberni - The losses of Trump Media & Technology Group, owner of the Truth Social platform, increased to $238.1 million in the second quarter of 2026, compared to about $20 million the previous year, under pressure from non-cash losses related to the digital assets and equity portfolio.
Revenue rose 89% year-over-year in the second quarter to $1.67 million.
The company said the bulk of the loss came from non-cash losses of $190.4 million, including a decrease in the market value of assets alongside non-cash interest expenses valued at $11.7 million and stock-based compensation worth $8.1 million.
The company recorded unrealized losses (declines in market value of assets) of $116.7 million on digital and pledged assets during the second quarter, attributing this to the spot price decreases of Bitcoin and Chronos in their major markets between the end of March and the end of June 2026.
The company incurred an investment loss of $71.8 million, compared to investment income of $11.1 million a year earlier, after recording unrealized losses of $73.7 million on its equity portfolio, offset in part by gains from Bitcoin-linked derivatives and options contracts.
Options contracts are financial instruments that give their buyers the right, without obligation, to buy or sell an asset at a predetermined price during a specific period or on an agreed date.
The operating loss widened to $163.5 million compared to $43.5 million in the corresponding quarter, with general and administrative expenses rising 26% to $35.9 million, including $25.6 million in legal expenses primarily related to cases predating the company's merger with Digital World Acquisition Corp in 2024.
Volatile Assets
Trump Media said its revenue increased from three sources:
-Advertisements offered in exchange for services instead of money.
-Subscriptions to "Patriot" package, a paid subscription providing additional channels and programs on the "Truth Plus" platform.
-Fees associated with managing 5 funds branded as "Truth Dot Fi," baskets of American company stocks that can be traded on the stock exchange.
The company's total assets were $2.02 billion at the end of June, down from $2.63 billion at the end of December 2025, including $215.5 million in cash and equivalents and $209.2 million in short-term investments and $597.7 million in digital assets, plus pledged digital assets valued at $122.1 million.
Digital assets, pledged assets, and stocks represented approximately 59.4% of the group's total assets, while its liabilities were $996.2 million, including convertible bonds with a book value of $964.9 million, and its operational activities used a liquidity of $13.7 million during the first half.
New Service
This comes at a time when the new service grants institutions immediate access to posts from the highest-rated accounts on Truth Social, prominently including the account of former U.S. President Donald Trump, which has 12.9 million followers.
The service provides direct, licensed access to the posts seconds before the public, and subscription fees range between $60,000 and $100,000 per month. Five trading companies subscribed to it immediately after its launch, before the number of signed agreements increased to more than 10, and the service began to generate revenue.
The service targets high-frequency and algorithmic trading companies that need machine-readable data, says the company, delivering posts within fractions of a second and operating around the clock with an archive dating back to 2022, which gives automated trading systems a chance to respond before others, to market-moving posts including Trump's announcements related to tariffs, trade restrictions, and political developments.
The service has sparked criticisms related to conflicts of interest and exploiting the presidential position for private gain, with Senators Elizabeth Warren and Adam Schiff calling for an investigation by the U.S. Securities and Exchange Commission, while Senator Mark Warner introduced a bill to ensure equal and free access for Americans to public announcements from government officials.
Focus on Social Platforms
The Guardian reported that the company's new CEO, Kevin McGovern, announced over the phone that the company would refocus its attention on social media, after attempts to expand into online betting and cryptocurrencies.
McGovern said, "We have made a thoughtful decision to change our course, with the aim of devoting more time and resources to our most important initiatives," referring to services related to the Truth Social platform.
He explained that the company has already contracted with 10 clients to secure the fast access service to posts on the Truth Social platform, noting that most of them are rapid securities trading firms, and will charge between $60,000 to $100,000 per month for this service.
McGovern said that Trump Media would continue pursuing a merger deal with TAE Technologies energy company by the end of the year, which was previously announced.
