New Filing Shows Truth Social Lost $58 Million In 2023

Axios reports:

Former President Trump’s social media company lost over $58 million on just $4.1 million in revenue during 2023, according to new SEC filings. There is a massive disconnect between the financial fundamentals and stock performance of Trump Media & Technology Group, which is valued at more than $7 billion after going public last week. Most of its expenses are tied to interest on debt, although TMTG also had around a $16 million operating loss for 2023.

Read the full article.

NEW: Trump’s Truth Social lost $58 million last year. Moreover, revenue DECLINED between Q3 and Q4 2023, with the company bringing in just $751,000 between Oct-Dec of last year. https://t.co/fg9xI7D76N

— Dan Primack (@danprimack) April 1, 2024