$238M Loss Hits Trump Media as it Shifts Focus Back to Truth Social
Trump Media & Technology Group reported a net loss of $238 million for Q2 2026, more than ten times its loss from the same period last year. The company's stock fell by around 8% during regular trading after the earnings release.
The damage came largely from unrealized losses on Bitcoin and Cronos holdings, which would have been a major drag on results if not for the exclusion of those paper losses in the operating loss calculation. Excluding these losses, taxes, interest, and other items, the operating loss stood at $164 million, compared with $44 million a year earlier.
New CEO Kevin McGurn said Trump Media is stepping back from several newer business lines, including parts of its crypto and online betting expansion, to concentrate more resources on Truth Social. The company's focus will now be on Truth API, a service that gives trading firms faster access to public posts on Truth Social.
The service charges between $60,000 and $100,000 a month, with over ten customers already signed up, mostly trading firms. This could generate roughly $7 million to $12 million annually if current pricing holds.