Trump Media Reports $409.7M Q3 Profit as Bitcoin Gains Boost Earnings
Trump Media and Technology Group (TMTG), the parent company of Truth Social, reported a sharp financial turnaround in the third quarter, posting a net profit of $409.7 million compared with a $54.8 million loss during the same period last year.
The improved results were largely driven by gains from the company's digital asset holdings, including both realized and unrealized profits. Trump Media said these gains also included pledged digital assets and equity securities, although they did not represent cash generated from its core business operations.
At the end of September, the company held approximately 15,649 Bitcoin (BTC), according to CFO Phillip Juhan. Around 11,385 BTC had been allocated to its Bitcoin Yield Management Program, which aims to generate additional returns from the company's cryptocurrency reserves.
Despite the substantial profit, revenue remained relatively small. Trump Media generated $3 million in Q3 revenue, marking a 205% increase from the previous year. Growth was mainly supported by its Truth API service, which contributed $1.8 million through subscription revenue.
Launched in August, Truth API provides institutional customers with paid access to real-time data from major Truth Social accounts, including posts from US President Donald Trump. Bloomberg, Susquehanna International Group, and Jump Trading have signed up as customers for the service.
TAE Technologies Merger Remains on Track
Trump Media also provided an update on its proposed merger with fusion energy company TAE Technologies, saying the transaction remains on schedule for completion in the fourth quarter, subject to regulatory requirements and shareholder approval.
The companies announced the planned all-stock merger in December 2025, valuing the combined deal at more than $6 billion. Under the proposed agreement, shareholders from both businesses would each own approximately 50% of the merged company.
The Securities and Exchange Commission (SEC) declared the registration statement for the transaction effective on November 5, allowing the companies to move forward with a shareholder vote scheduled for December 14.
Interim CEO Kevin McGurn said during Monday's earnings call that the company expects to finalize the merger before the end of the year. He added that the deal would give public market investors greater access to the future of fusion energy.
Trump Media shares (DJT) closed Monday's trading session up 1.75% at $4.06. The stock gained another 1.5% in after-hours trading.