Trump Media’s Cryptocurrency Gains Offset Operating Losses in Third Quarter
Key Facts
Trump Media & Technology Group reported operating income of $354.554 million in the third quarter of 2026, compared with an operating loss of $57.658 million in the same period a year earlier. Net income was $409.750 million, versus a net loss of $54.849 million a year earlier. The turnaround in both results coincided with a gain on digital assets and staked digital assets, according to the quarterly report filed with the U.S. Securities and Exchange Commission. Revenue rose 205% to $3 million, Reuters reported, highlighting the gap between the scale of revenue-generating activity and the quarterly accounting result.
The company said revenue growth came mainly from a $1.8 million increase in media subscriptions, driven by Truth API and Truth+. It added that management fees from Truth.Fi funds contributed $0.2 million. The company launched Truth API, its first data-licensing product, on August 1, 2026. The filing places subscription growth in the context of the product’s launch during the quarter, alongside Truth+, while fund management fees accounted for a smaller share of the increase the company described. In its statement, the company said revenue growth was driven mainly by these subscriptions and management fees.
Legal expenses changed sharply year over year: legal fees fell to $2.4 million in the third quarter of 2026 from $20.3 million in the same period of 2025. The company attributed the decline to the resolution of legacy legal matters and said this helped reduce quarterly legal expenses. For the nine months ended September 30, 2026, the company used $28.4 million of cash in operating activities. The company attributed this mainly to expenses related to legacy legal matters that had recently been resolved. In the second quarter, it reported a loss of $238 million, citing losses on its Bitcoin and Cronos token holdings among the reasons, reflecting how the impact of digital assets changed from quarter to quarter.
DJT shares closed at $4.06 on November 9, 2026, according to EL7 data. The results come alongside near-term financing obligations: the report said holders of convertible notes may require the company to repurchase their notes for cash on November 30, 2026. The company said it was considering refinancing if noteholders exercise that right. It then plans to hold a special shareholder meeting on December 14, 2026, to vote on matters related to the merger with TAE Technologies. The company said completion of the deal remains subject to approvals and other closing conditions.