Trump Media & Technology Group Corp. Q3 2026 Earnings Recap

Trump Media rose 5.4% after reporting 205% year-over-year revenue growth to about $3 million and sharply lower legal expenses. The quarter’s $409.7 million net income was driven almost entirely by mark-to-market gains on digital assets, so it is not a clean measure of operating performance.

Key Takeaways

• Revenue increased 78% sequentially, primarily from Truth API and Truth Plus subscriptions, higher Truth Social advertising, and Truth.Fi ETF management fees.
• Operating expenses, excluding digital-asset gains and losses, were $26.5 million, down 45% sequentially and 37% year over year. Legal fees fell to $2.4 million from more than $20 million in the second quarter.
• Net income was $409.7 million; management said the increase was driven almost entirely by digital-asset and related securities mark-to-market gains. The company reported approximately 15,600 Bitcoin holdings, with roughly 11,400 pledged to its Bitcoin yield program.
• Trump Media reported $2.5 billion in total assets, including $2.3 billion in financial assets, and said it intends to use cash and available credit to address bond obligations and its capital structure.
• The company said its merger with TAE Technologies remains on track to close by year-end; the shareholder meeting is scheduled for December 14.