The company’s net loss widened sharply year-over-year as digital asset valuations fell, offsetting a rise in ad revenue.
Trump Media & Technology Group posted a $238 million net loss in its fiscal second quarter, driven by a $190 million decline in digital assets and equity securities. Revenue totaled $1.7 million, up 89% from the prior-year period, primarily from ad sales on Truth Social.
The loss compares with a $20 million net loss in the same quarter last year. Operating expenses surged to $165 million, a 275% increase, attributed to volatility in digital asset prices. The company also disclosed new contracts for its Truth API service, targeting high-frequency trading firms at monthly rates of $60,000 to $100,000.
Truth Social’s traffic reportedly declined this summer, though the platform remains a key revenue driver for the company.