Truth Social’s parent company, Trump Media and Technology Group, lost more than $400 million last quarter and brought in less than $1 million in sales, according to a Friday press release from the company.

The company reported $871,200 in revenue during the first three months of 2026, a modest increase from the same period a year earlier, alongside a $405.9 million net loss and a $387.8 million adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) loss.

Notably, President Donald Trump’s revocable trust owned about 41% of the company’s outstanding shares as of the end of April, according to Trump Media’s most recent annual filing. They recorded a $712 million net loss in 2025.

Trump Media said most of the red ink stemmed from accounting-related charges rather than day-to-day operations, citing “non-cash losses including unrealized losses on digital assets, digital assets pledged, and equity securities ($368.7 million), accreted interest ($11.5 million), and stock-based compensation ($11.8 million).”

The earnings release marks the first quarterly report since former Rep. Devin Nunes (R-CA) stepped down as chief executive last month. Trump Media named media executive Kevin McGurn, whose résumé includes roles at Hulu, Vevo, and T-Mobile, as interim CEO.

At the time, Nunes wrote on Truth Social, “This will allow me to focus more intently on my role as Chairman of the President’s Intelligence Advisory Board and on other ventures, knowing the company is in safe hands under Kevin’s stewardship.”

The company, which trades under the ticker DJT, said it ended the quarter with $2.2 billion in total assets and roughly $2.1 billion in financial holdings, nearly triple what it reported a year earlier. Trump Media also said it posted positive operating cash flow for the fourth consecutive quarter, with $17.9 million generated from operations.

In a statement as part of the release, McGurn said Trump Media & Technology Group is pursuing growth opportunities while advancing its proposed merger with TAE Technologies, a nuclear fusion company. He added that Truth Social “remains a bastion of free speech with innovative enhancements coming soon.”

“I look forward to rapidly growing our Truth Social and Truth+ communities and building out these powerful, uncancellable platforms for free expression,” his statement concluded.

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