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Internet content & information · Communication Services · Fiscal year ends Dec 31
Trump Media & Technology reported revenue of $4M in the fiscal year ended Dec 2025, up 1.8% from the year before. Operating income was −$573M, an operating margin of −15560.8%, and net income was −$712M. Operating cash flow of $15M less capital expenditure of $573,500 left free cash flow of $14M. Net debt was $813M.
Ranks among the 18 internet content & information companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | – | 1.5 | 4.1 | 3.6 | 3.7 |
| Cost of revenue | – | 0.1 | 0.2 | 0.6 | 1.7 |
| Gross profit | – | 1.4 | 4.0 | 3.0 | 2.0 |
| Research & development | – | 13.6 | 9.7 | 49.1 | 42.8 |
| Selling, general & admin | – | 10.3 | 8.9 | 131 | 119 |
| Operating income | −2.0 | −23.2 | −16.0 | −186 | −573 |
| Interest expense | – | 2.0 | 39.4 | 3.1 | 27.3 |
| Pre-tax income | −2.0 | 50.5 | −58.2 | −401 | −712 |
| Income tax | 0.0 | 0.0 | 0.0 | 0.0 | 0.6 |
| Net income | −2.0 | 50.5 | −58.2 | −401 | −712 |
| Diluted EPS | – | 0.58 | −0.67 | −2.36 | −2.80 |
| Diluted shares | – | 87.5 | 87.5 | 170 | 255 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 0.3 | 0.0 | 2.6 | 170 | 135 |
| Receivables | – | – | 0.1 | 0.0 | 0.2 |
| Current assets | 0.6 | 0.2 | 3.0 | 784 | 1,203 |
| Net PP&E | – | – | 0.0 | 4.4 | 3.1 |
| Goodwill | – | – | 0.0 | 121 | 121 |
| Total assets | 294 | 300 | 3.4 | 938 | 2,630 |
| Payables | – | – | 0.9 | 1.5 | 3.8 |
| Deferred revenue | – | – | 4.4 | 1.0 | 0.0 |
| Current liabilities | 1.3 | 23.5 | 65.3 | 17.3 | 980 |
| Short-term debt | – | – | 0.0 | 4.8 | 947 |
| Long-term debt | – | – | – | – | 0.4 |
| Total liabilities | 11.3 | 33.5 | 70.1 | 24.7 | 983 |
| Shareholders' equity | −59.1 | −8.6 | −66.8 | 914 | 1,647 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −1.1 | −24.2 | −9.7 | −61.0 | 14.8 |
| Capital expenditure | – | 0.1 | 0.0 | 5.0 | 0.6 |
| Free cash flow | – | −24.3 | −9.7 | −66.0 | 14.2 |
| Depreciation & amortisation | – | 0.1 | 0.1 | 2.9 | 7.4 |
| Stock-based compensation | – | 0.0 | 0.0 | 107 | 59.2 |
| Share buybacks | – | 0.0 | 0.0 | 2.9 | 53.6 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | – | 180.9% | −12.4% | 1.8% |
| EPS growth (YoY) | – | – | −215.5% | – | – |
| Gross margin | – | 96.3% | 96.0% | 82.9% | 54.5% |
| Operating margin | – | −1580.9% | −386.5% | −5140.9% | −15560.8% |
| Net margin | – | 3435.8% | −1408.6% | −11077.3% | −19343.4% |
| Return on equityBlank when equity is negative | – | – | – | −43.9% | −43.3% |
| ROCEEBIT ÷ (assets − current liabilities) | −0.7% | −8.4% | 25.8% | −20.2% | −34.7% |
| Free cash flow margin | – | −1651.5% | −235.7% | −1824.3% | 385.2% |
| Cash conversion (CFO ÷ net income) | 0.58x | −0.48x | 0.17x | 0.15x | −0.02x |
| Receivable days | – | – | 7 | 2 | 24 |
| Payable days | – | – | 1928 | 875 | 838 |
| Interest cover | – | −11.4x | −0.40x | −60.2x | −21.0x |
| Debt ÷ equity | – | – | – | – | 0.58x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | – | – | – | 813 |
| Current ratio | 0.45x | 0.01x | 0.05x | 45.3x | 1.23x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.