- Trump Media reported a £176m net loss for the second quarter.
- Revenue rose 89 per cent but reached only about £1.3m.
- A new service will charge Wall Street firms for faster access to Trump's Truth Social posts.
Donald Trump's media company has reported a £176m loss for the second quarter, despite revenue rising 89 per cent to about £1.3m, highlighting the huge gap between sales and the money being lost as the business expands beyond its Truth Social platform.
Trump Media & Technology Group (TMTG), which owns Truth Social, said most of the loss came from about £141m in unrealised losses linked to digital assets, digital assets pledged and equity securities. The company also reported about £8.7m in accreted interest and £6m in stock-based compensation.
The figures cover April to June and were reported to the US Securities and Exchange Commission on Monday (10). TMTG's shares, traded under the ticker DJT, fell about 8 per cent by the close of trading.
The numbers underline an unusual problem for a company that has spent the past year building a much larger investment portfolio while its core media business remains relatively small.
Almost all of the quarterly revenue came from its media operations, including about £1.1m from advertising and roughly £133,000 from subscriptions.
For the first six months of 2026, TMTG's net loss reached about £476m, against revenue of only around £1.9m.
The company ended the second quarter with total assets of about £1.5bn, including roughly £1.4bn in financial assets such as cash, short-term investments, equity securities and digital assets.
From Truth Social to Wall Street
TMTG is now looking for ways to turn one of Truth Social's unusual advantages into a business.
The company launched Truth API on August 1, offering paying customers faster access to posts from selected accounts on Truth Social. That matters because Trump regularly uses the platform to announce policy decisions and make comments that can move financial markets.
Interim chief executive Kevin McGurn said on the company's earnings call that more than 10 customers had already signed up. Customers are reportedly paying between £44,000 and £74,000 a month, depending on the package.
The move has raised questions about the value of selling faster access to posts made by a platform whose most influential user is also the US president, while members of Trump's family remain major shareholders in TMTG.
The company has described Truth API as a new business-to-business data service and said it expects it to create a new revenue stream.
For TMTG, the attraction is clear. Advertising and subscriptions on Truth Social have so far generated relatively little revenue compared with the company's market ambitions. Selling access to data could potentially produce more money from a much smaller customer base.
But the wider challenge remains.
Truth Social has struggled to match the scale of established social media platforms. Data cited by The New York Times from Similarweb showed visits to the platform in July were down by more than a third from a year earlier.
That leaves TMTG trying to build a business around a platform whose audience appears considerably smaller than those of X, Facebook and other major networks.
The company has also moved into areas far removed from traditional media, including cryptocurrency and clean-energy investments. Its digital-asset holdings have now become large enough for movements in their value to have a major effect on its reported earnings.
The latest results suggest just how significant that exposure can be. While the underlying media revenue increased, the fall in the value of digital assets and other investments produced losses many times larger than the company's sales.
TMTG has indicated that it wants to put greater emphasis back on its social media business while continuing with newer ventures.
That includes a proposed merger with nuclear fusion company TAE Technologies, which would take the group even further beyond its original media focus.
For now, however, the numbers leave TMTG with a simple financial problem: it generated roughly £1.3m in quarterly revenue while reporting a £176m loss.
Whether Truth API, cryptocurrency holdings and its other new ventures can close that gap remains to be seen.
