NEW YORK — Trump Media Technology Group reported a net loss exceeding $238 million for its fiscal second quarter, on revenue of less than $2 million.
The loss compares with a loss of roughly $20 million in the same quarter a year earlier. The primary driver was a decline in non-cash assets, including more than $190 million tied to digital assets, digital assets pledged and equity securities.
TMTG recorded $218 million in unrealized Bitcoin losses and $27.4 million in unrealized Cronos losses during the quarter.
CFO Phillip Juhan, speaking on the company's first earnings call, said operating expenses are largely driven by the price volatility of digital assets.
Operating expenses rose to more than $165 million, a roughly 275 percent increase year-over-year.
Revenue for the quarter reached $1.7 million, generated primarily through advertising on Truth Social, the company's flagship social media platform. That figure represents an 89 percent increase from the year-ago quarter.
Truth Social's traffic fell sharply this summer. The platform's user engagement already lags behind comparable platforms, including X.
TMTG also provided new details on Truth API, a service offering faster access to President Donald Trump's Truth Social posts. The company said it has signed more than 10 customer agreements to date, primarily with high-frequency trading firms paying between $60,000 and $100,000 a month.
Despite the loss, TMTG reported $2.0 billion in total assets. The company is also exploring a potential merger with TAE.
