Trump Media & Technology Group reported a third-quarter profit of $409.7 million, primarily driven by $378.1 million in digital-asset gains. Excluding those gains, the company recorded an operating loss of $23.6 million, with revenue of $3.0 million and cash burn of $15 million during the quarter. The company is preparing for a planned merger with TAE Technologies. DJT shares had fallen 55%, while the stock traded at a price-to-sales multiple of about 95.
Revenue rose 205% to $3 million, as the company attributed subscription growth to Truth API and Truth+ and fees from managing Truth.Fi funds.
Read the full storyRevenue rose 205% to $3.0 million, but net income included substantial non-cash gains from digital assets and securities, while the company remained loss-making in the first nine months.
The company swung from a loss a year earlier on $496.1 million in net non-cash gains, while adjusted EBITDA loss was $12.3 million and revenue remained below $3 million.