Trump Media and Technology Group Reports Strong First Quarter Financials and Expands into FinTech with Launch of Truth.Fi

Trump Media reported $759 million in cash, launched Truth.Fi, and plans expansion through subscription services and acquisitions.

Quiver AI Summary

Trump Media and Technology Group Corp. reported its financial results for the first quarter ending March 31, 2025, highlighting a strong position with $759.0 million in cash and investments. The company had a low operational cash burn of $9.7 million, despite $10.9 million in legal fees largely stemming from legacy issues. Trump Media expanded into fintech with the launch of Truth.Fi and is preparing to launch its Truth+ subscription service. The company plans to enhance its existing platforms and looks to pursue further growth through mergers and acquisitions. It also plans to introduce premium features for Truth+ users on Truth Social and has strategies in place for monetizing both platforms, while focusing on creating investment products that align with its America-First ideology. CEO Devin Nunes emphasized the company’s commitment to expanding its reach and diversifying into new sectors while navigating financial challenges.

Potential Positives

• Ended the first quarter with a strong balance sheet, holding $759.0 million in cash and investments, which supports future expansion plans.
• Low operating cash outflow of $9.7 million demonstrates strong cost management despite ongoing legal expenses, positioning the company favorably for growth.
• Diversification into fintech with the launch of Truth.Fi and partnerships to develop customized ETFs and managed accounts expands revenue opportunities.
• Plans for the Truth+ subscription service and partnerships for additional content monetization indicate a strategic approach to enhance platform offerings and revenue streams.

Potential Negatives

• Despite a reported liquidity position of $759 million, the company incurred a substantial legal fee of $10.9 million, raising concerns about financial management and potential ongoing litigation impacting operational costs.
• The company reported a significant GAAP net loss of $31.7 million, which raises red flags regarding profitability and long-term sustainability.
• The forward-looking statements include a caution about inherent risks and uncertainties, suggesting the company cannot guarantee the success of its various expansion strategies, which may create skepticism among investors.

FAQ

What were Trump Media’s cash holdings at the end of the first quarter?

Trump Media ended the first quarter with $759.0 million in cash, cash equivalents, and short-term investments.

What new services did Trump Media launch recently?

Trump Media launched Truth.Fi, a fintech brand, and is preparing to launch the Truth+ subscription service.

How much cash did Trump Media consume during the first quarter?

Trump Media consumed $9.7 million of cash during the first quarter, primarily due to legal fees.

What is the purpose of the Truth+ subscription service?

The Truth+ subscription service will offer premium features on Truth Social, including exclusive content and additional functionalities.

Is Trump Media planning mergers and acquisitions?

Yes, Trump Media is eyeing further expansion through potential mergers and acquisitions to diversify its operations.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$DJT Congressional Stock Trading

Members of Congress have traded $DJT stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $DJT stock by members of Congress over the last 6 months:

To track congressional stock trading, check out Quiver Quantitative’s congressional trading dashboard.

$DJT Insider Trading Activity

$DJT insiders have traded $DJT stock on the open market 9 times in the past 6 months. Of those trades, 0 have been purchases and 9 have been sales.

Here’s a breakdown of recent trading of $DJT stock by insiders over the last 6 months:

• PHILLIP JUHAN (CFO and Treasurer) has made 0 purchases and 5 sales selling 405,059 shares for an estimated $12,349,701.
• ERIC SWIDER has made 0 purchases and 3 sales selling 151,183 shares for an estimated $4,140,896.
• SCOTT GLABE (General Counsel and Secretary) sold 15,917 shares for an estimated $512,368

To track insider transactions, check out Quiver Quantitative’s insider trading dashboard.

$DJT Hedge Fund Activity

We have seen 150 institutional investors add shares of $DJT stock to their portfolio, and 107 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• CAPITAL FUND MANAGEMENT S.A. removed 1,008,126 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $34,377,096
• UBS GROUP AG added 980,212 shares (+5097.0%) to their portfolio in Q4 2024, for an estimated $33,425,229
• CITADEL ADVISORS LLC added 940,706 shares (+4241.2%) to their portfolio in Q4 2024, for an estimated $32,078,074
• GREENWICH WEALTH MANAGEMENT LLC removed 681,134 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $23,226,669
• GOLDMAN SACHS GROUP INC added 608,945 shares (+1151.9%) to their portfolio in Q1 2025, for an estimated $11,898,785
• MELQART ASSET MANAGEMENT (UK) LTD added 549,106 shares (+inf%) to their portfolio in Q4 2024, for an estimated $18,724,514
• STATE STREET CORP added 476,653 shares (+67.2%) to their portfolio in Q4 2024, for an estimated $16,253,867

To track hedge funds’ stock portfolios, check out Quiver Quantitative’s institutional holdings dashboard.

Full Release

~ Ended First Quarter with $759.0 Million in Cash/Investments ~

~ Operations Consumed Just $9.7 million of Cash Despite

$10.9 Million in Primarily Legacy Legal Fees ~

~ Diversified into FinTech and Financial Services with Launch of Truth.Fi ~

~ Preparing to Launch Truth+ Subscription Service ~

~ Eyeing Further Expansion through Mergers/Acquisitions ~

SARASOTA, Fla., May 09, 2025 (GLOBE NEWSWIRE) — Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT) (“Trump Media” or the “Company”), operator of the social media platform Truth Social, the streaming platform Truth+, and the FinTech brand Truth.Fi, is announcing financial results for the fiscal quarter ending on March 31, 2025, and is filing its 10-Q with the Securities and Exchange Commission (the “SEC”) today.

In the first quarter Trump Media maintained a strong balance sheet, ending the quarter with $759.0 million of cash, cash equivalents, and short-term investments. The Company believes this amount of liquidity, in conjunction with Trump Media’s low operating costs and low cash burn rate, will fully enable it to pursue all its expansion plans, including enhancing its existing platforms, diversifying into fintech and financial services, and pursuing potential mergers and acquisitions.

In the first quarter, Trump Media pursued its mission with the following actions:

• Introduced the Truth.Fi fintech and financial services brand.
• Partnered with Crypto.com and Yorkville America Digital to develop a slate of customized exchange-traded funds and products (collectively, “ETFs”) with America-First themes incorporating both cryptocurrencies and traditional securities.
• Partnered with Index Technologies Group and Yorkville America Equities to develop a slate of customized separately managed accounts (“SMAs”) with America-First themes.
• Adopted a financial services and fintech strategy that includes investing up to $250 million, to be custodied by Charles Schwab, in assets including Truth.Fi’s own financial products, cryptocurrencies, and other securities.
• Secured payment processing capabilities for the Truth Social and Truth+ platforms.
• Debuted on the New York Stock Exchange in Texas, complementing the Company’s listing on the Nasdaq.
• Launched an app to stream Truth+ content on Roku television sets alongside numerous other connected TV brands.

Trump Media also recently obtained shareholder approval for the Company’s reincorporation in Florida, which became effective on April 30.

Described in Trump Media’s recent
letter to shareholders
, the Company’s ambitious growth strategy envisions expanding all its current operations and moving into new realms, with Trump Media eventually evolving into a holding company for prime assets spanning numerous industries. The Company’s plans include:

• Offering premium features on the Truth Social platform to subscribers of its Truth+ streaming service including an edit button, scheduled Truths, save drafts, expanded character counts, the ability to upload longer videos, and giving all Truth+ subscribers automatic verification on Truth Social with a red check badge and a Truth+ badge.
• Monetizing the Truth+ platform, including through advertising and a subscription package with premium content, while continuing its efforts to secure new programming.
• As part of a rewards program, introducing a utility token within a Truth digital wallet that can initially be used to pay for Truth+ subscription costs, and later be applied to other products and services in the Truth ecosphere.
• Completing the launch this year of the Truth.Fi ETFs and SMAs.
• Further diversifying into new sectors by forming partnerships with great companies that align with the Company’s mission, and acquiring crown jewel assets through mergers and acquisitions with top-quality companies.

Trump Media Chairman and CEO Devin Nunes said, “As we launched our diversification strategy last quarter, we developed unique financial products to meet the demand for non-woke funds that invest in superior American companies. We anticipate that this offering will just be the initial step in a wider expansion into new realms and industries, which will occur as we enhance both Truth Social and Truth+, including our plan to introduce a Truth+ subscription package with premium content. We are now taking every possible step to position the Company to expand robustly throughout the America-First economy.”

The Company had a low operating cash outflow of $9.7 million including combined interest income and revenues of $8.8 million for the quarter. Trump Media incurred $10.9 million in legal fees, including costs related to the Company’s March 2024 merger with a special purpose acquisition company—one of the longest SPAC mergers in history. The fees include those incurred in litigation aiming to recoup merger-related damages from those individuals and entities that the Company alleges caused the delay of the SPAC through their wrongful acts, as well as expenses related to the Company’s reincorporation from Delaware to Florida. Additionally, Trump Media had net losses including $19.6 million in non-cash expenses for stock-based compensation, depreciation and amortization, resulting in a GAAP net loss of $31.7 million and a GAAP operating loss of $39.5 million.

In the first quarter, the Company continued to focus on building out its ecosystem, improving its existing platforms, and diversifying into financial services. Trump Media believes its robust and uncancellable infrastructure, expanding range of services, and strong balance sheet that includes $759.0 million of cash and investments strongly positions the Company to begin implementing monetization plans on its platforms, fully launch Truth.Fi financial products, and continue pursuing new assets and/or partnerships, including via potential mergers and acquisitions.

Cautionary Statement About Forward-Looking Statements

This press release includes forward-looking statements regarding, among other things, the plans, strategies, and prospects, both business and financial, of Trump Media. We have based these forward-looking statements on our current expectations and projections about future events, including potential merger & acquisition activity, the rollout of products and features, the future plans, timing and potential success of the streaming services and the launch and success of our financial services and FinTech platform. Although we believe that our plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “soon,” “goal,” “intends,” or similar expressions. Forward-looking statements are not guarantees of future performance, and involve risks, uncertainties and assumptions that may cause our actual results to differ materially from the expectations that we describe in our forward-looking statements. There may be events in the future that we are not accurately able to predict, or over which we have no control.

About Trump Media

The mission of Trump Media is to end Big Tech’s assault on free speech by opening up the Internet and giving people their voices back. Trump Media operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations, as well as Truth+, a TV streaming platform focusing on family-friendly live TV channels and on-demand content. Trump Media is also launching Truth.Fi, a financial services and FinTech brand incorporating America First investment vehicles.

Investor Relations Contact

Shannon Devine (MZ Group | Managing Director – MZ North America)

Email:

shannon.devine@mzgroup.us

Media Contact

press@tmtgcorp.com

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