Trump Media and Technology Group lost $406m in first three months of 2026

Trump Media and Technology Group, the parent company of Donald Trump’s Truth Social platform, reported a net loss of nearly $406 million in the first three months of 2026. While the company generated just over $870,000 in revenue, the financial filings revealed significant losses tied to digital assets, including unrealized losses of $368 million on investments like bitcoin and equity securities. Most of the losses stem from a $3.5 billion bitcoin purchase made in 2025, when the cryptocurrency was surging, but its value has since dropped by about a third. The company also faced additional losses from accreted interest ($11.5 million) and stock-based compensation ($11.8 million). Interim CEO Kevin McGurn stated the company is using its strong balance sheet and positive operating cash flow to expand its platforms and infrastructure. He also highlighted Truth Social’s role as a ‘bastion of free speech,’ though the platform has struggled to grow beyond its core user base. The losses come five months after Trump Media announced a $6 billion merger deal with TAE Technologies, a California-based nuclear fusion company aiming to power AI datacenters. McGurn emphasized efforts to accelerate the merger while exploring new growth opportunities to increase shareholder value. Founded after Trump’s 2021 bans from Twitter (now X) and Facebook, Truth Social has primarily served as a communication channel for the former president rather than a mainstream social media platform.