Trump Media reported a loss of $238 million: cryptocurrencies and stocks once again let the company down
Trump Media & Technology Group (DJT) reported a net loss of $238.1 million for the second quarter of 2026. The main blow to financial performance came from the revaluation of crypto assets and stocks held on the company's balance sheet.
The gap between revenue and expenses for the owner of Truth Social narrowed compared to the first quarter, where the loss reached $405.9 million. However, operating activities continue to remain unprofitable: revenue totaled just $1.7 million, and adjusted EBITDA went negative at $223.5 million. This once again highlights that the company's core business is not yet capable of generating sustainable cash flow.
Cryptocurrencies once again caused the loss
The biggest impact on the financial statements came from unrealized losses of $190.4 million. This refers to digital assets pledged as collateral, as well as tokens and stocks accounted for on the balance sheet. Under accounting standards, the company is required to reduce the carrying value of assets when their market price falls. This time, cryptocurrencies were the main driver of losses, confirming the high volatility of this asset class.
In the previous reporting period, similar losses reached $368.7 million. This indicates that the company is systematically exposed to market risks associated with digital currencies and has not yet found an effective way to hedge.
DJT quotes are also showing negative dynamics. At the close of the trading session on August 10, shares closed at $9.39, which is 8.03% lower than the previous close ($10.21). In after-hours trading, the decline continued to $9.34.
McGern bets on TAE and data licensing
Interim CEO Kevin McGern named the planned merger with TAE Technologies, a company in the fusion energy sector, as the main source of business value growth. The deal is expected to close in the fourth quarter. According to him, this is a key factor for long-term growth for shareholders and a logical continuation of the strategy to build sustainable infrastructure in energy security.
A new revenue source is emerging at a time when Trump Media is moving away from its previous crypto projects. For example, the company scrapped the plan to place assets in CRO tokens via Crypto.com. Instead, the focus is shifting to data licensing: on August 1, Truth API was launched, the first product in this direction. Since the release, more than 10 client agreements have been signed, although the launch sparked controversy over data pricing related to Truth Social.
Trump Media's financial results once again demonstrate that betting on high-risk assets without proper risk management can lead to significant losses. The pivot toward energy and licensing is a step toward diversification, but success will depend on the company's ability to generate real operating profit rather than relying on one-off events.