Trump Media & Technology Group Corp. DJT
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. TMTG has also launched Truth.Fi, a financial services and FinTech
brand incorporating America First investment vehicles and a digital asset strategy--including a bitcoin treasury--to help ensure our financial freedom and protect against discrimination by financial institutions.
As further detailed in this Annual Report, TMTG ended 2025 with approximately $2,473.2 million of cash, cash equivalents, restricted cash, short-term investments, equity securities, convertible note
receivable, interest receivable, digital assets, and digital assets pledged, as well as approximately $947.1 million of debt (excluding lease liabilities). Our $31.3 million of restricted cash serves as collateral to our debt, which may be used to
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $3.7M | $3.6M | $4.1M | $1.5M | — | — |
| Cost of revenue | $1.7M | $619.0K | $164.9K | $54.5K | — | — |
| Gross profit | $2.0M | $3.0M | $4.0M | $1.4M | — | — |
| R&D | $42.8M | $49.1M | $9.7M | $13.6M | — | — |
| SG&A | $119.1M | $130.6M | $8.9M | $10.3M | — | — |
| Total operating expenses | $576.7M | $189.7M | $20.1M | $24.7M | — | — |
| Operating income | -$573.0M | -$186.0M | -$16.0M | -$23.2M | -$2.0M | — |
| Interest expense | $27.3M | $3.1M | $39.4M | $2.0M | — | — |
| Pre-tax income | -$711.8M | -$400.9M | -$58.2M | $50.5M | -$2.0M | — |
| Income tax | $560.1K | $0 | $1.1K | $200 | $0 | — |
| Net income | -$712.3M | -$400.9M | -$58.2M | $50.5M | -$2.0M | — |
| EPS, basic | -2.80 | -2.36 | -0.67 | 0.58 | — | — |
| EPS, diluted | -2.80 | -2.36 | -0.67 | 0.58 | — | — |
| Shares, diluted (wtd. avg.) | 254.5M | 169.6M | 87.5M | 87.5M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $134.6M | $170.2M | $2.6M | $9.8M | $18.7M | $0 |
| Short-term investments | $305.1M | $606.5M | $0 | — | — | — |
| Receivables | $244.5K | $17.4K | $81.0K | — | — | — |
| Total current assets | $1.20B | $784.3M | $3.0M | $169.3K | $568.7K | — |
| Property, plant and equipment | $3.1M | $4.4M | $29.2K | — | — | — |
| Goodwill | $120.9M | $120.9M | $0 | — | — | — |
| Other intangibles | $19.8M | $25.4M | $0 | — | — | — |
| Total assets | $2.63B | $938.3M | $3.4M | $300.5M | $294.0M | — |
| Accounts payable | $3.8M | $1.5M | $871.2K | — | — | — |
| Short-term debt | $946.7M | $4.8M | $0 | — | — | — |
| Total current liabilities | $980.1M | $17.3M | $65.3M | $23.5M | $1.3M | — |
| Long-term debt | $442.6K | — | — | — | — | — |
| Total liabilities | $982.8M | $24.7M | $70.1M | $33.5M | $11.3M | — |
| Retained earnings | -$3.66B | -$2.95B | -$66.8M | -$32.0M | -$10.6M | — |
| Total equity | $1.65B | $913.6M | -$66.8M | -$8.6M | -$59.1M | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | $14.8M | -$61.0M | -$9.7M | -$24.2M | -$1.1M | — |
| Depreciation and amortisation | $7.4M | $2.9M | $60.4K | $59.1K | — | — |
| Stock-based compensation | $59.2M | $107.4M | $0 | $0 | — | — |
| Capital expenditure | $573.5K | $5.0M | $2.2K | $84.5K | — | — |
| Investing cash flow | -$2.27B | -$618.6M | -$2.2K | -$84.5K | -$293.2M | — |
| Financing cash flow | $2.25B | $847.2M | $2.5M | $15.4M | $294.7M | — |
| Buybacks | $53.6M | $2.9M | $0 | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-018230.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | — | $1.5M | $4.1M | $3.6M | $3.7M |
| Gross profit | — | — | $1.4M | $4.0M | $3.0M | $2.0M |
| Net income | — | -$2.0M | $50.5M | -$58.2M | -$400.9M | -$712.3M |
Recent filings and events
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Item 7.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 7370
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| GOOGL | Alphabet Inc. | $3.89T | 29.6x | 15.1% |
| META | Meta Platforms, Inc. | $1.63T | 27.4x | 22.2% |
| APP | AppLovin Corp | $87.39B | 26.7x | 70.0% |
| ZM | Zoom Communications, Inc. | $28.05B | 15.5x | 4.4% |
| FLUT | Flutter Entertainment plc | $13.90B | — | 16.6% |
| PINS | PINTEREST, INC. | $12.56B | 36.6x | 15.8% |
| FDS | FACTSET RESEARCH SYSTEMS INC | $11.78B | 21.3x | 5.4% |
| DOCN | DigitalOcean Holdings, Inc. | $10.96B | 37.0x | 15.5% |