DJT — Trump Media & Technology Group Corp. · Cleearly

DJT

NASDAQ Global Market

Trump Media & Technology Group Corp.

Internet Content & Information

$8.56

▼ $0.33 (-3.71%)

Market cap$2.37BPrev close$8.89Day range$8.49 – $9.16

The AI Brief

What a senior analyst would tell you about DJT.

1mo ago

What's happening

Q1 2026 results showed $871K in revenue against a $405.8M net loss, with core ad revenue down 25% YoY to roughly $617K.
DJT sits on approximately $660M in Bitcoin exposure after moving an additional 2,650 BTC despite $455M in unrealized losses on prior purchases.
Truth Social crypto ETF plans collapsed after Yorkville withdrew its SEC filings, eliminating a previously floated revenue diversification path.
Board member Eric Swider departed, adding to leadership turnover that also saw Kevin McGurn installed as CEO ahead of the pending TAE Technologies fusion merger.
Insiders posted net buying of 928,188 shares over the last 30 days across 10 Form 4 transactions, a rare positive tape print against the broader bearish news flow.

Bull case

Over $2B in financial assets and four consecutive quarters of positive operating cash flow give DJT runway to survive multiple years of operating losses without a forced raise.
Short volume hit a two-week high in early May, and with float dynamics typical of meme names, any political or crypto catalyst can drive violent upside dislocation.
The TAE Technologies fusion merger ties DJT to a White House policy priority, offering optionality on a politically favored hard-tech asset entirely separate from the ad business.
Net insider buying of nearly 1 million shares this month suggests those closest to the books are accumulating at sub-$10 levels.

Bear case

A 666x P/S ratio against $871K in quarterly revenue and -5251% operating margin means the equity is priced on narrative, not cash flows, with no fundamental floor.
Doubling down on Bitcoin while sitting on $455M in unrealized losses converts DJT into a leveraged crypto proxy, exposing shareholders to drawdowns unrelated to the operating business.
Core advertising revenue declining 25% YoY indicates Truth Social is losing, not gaining, monetization traction even as competitors like X and Meta scale ad load.
Trump's documented Palantir promotion on Truth Social while trading the stock invites SEC scrutiny of the platform itself as a potential market-moving communication channel.
Integrating a fusion energy company into a social media and streaming business under a new CEO has no operational precedent and dilutes management focus on the core platform.

What to watch

Next earnings scheduled for July 31, 2026: watch whether ad revenue stabilizes above the $617K Q1 base or continues its 25% YoY decline.
Bitcoin price action directly marks the balance sheet now, with each 10% BTC move translating into roughly $66M of unrealized P&L on the current position.
Closing terms and shareholder vote timing for the TAE Technologies merger will determine dilution mechanics and whether the fusion narrative gets monetized or scrapped.
Any SEC inquiry tied to Trump's Palantir posts on Truth Social would be a step-change risk to the platform's status as a communications venue.

Fundamentals

TTM · vs peer median

Valuation

What you pay vs. what the business earns and owns.

P/E

—

P/S

635×

P/B

1.9×

EV / EBITDA

-3.0×

Dividend yield

0.0%

Growth

How fast the top and bottom lines are expanding.

Revenue growth (YoY)

1.7%

EPS growth (YoY)

—

Financial health

Short-term solvency and leverage.

Current ratio

1.07

Quick ratio

1.07

Returns & margins

Capital efficiency and margin profile.

ROE

-58.2%

ROA

-48.6%

Earnings

EPS actual vs. consensus — last 9 quarters

Next report2026-07-31

Finnhub + FMP

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Filings

SEC EDGAR · 10 recent

8-Kfiled 6d ago2026-07-207.01 — Regulation FD disclosure · 9.01 — Financial statements and exhibitsView on SEC
Summary generating — check back in a moment.
8-Kfiled 10d ago2026-07-167.01 — Regulation FD disclosure · 9.01 — Financial statements and exhibitsView on SEC
Summary generating — check back in a moment.
8-Kfiled 16d ago2026-07-105.02 — Departure/appointment of officers or directors · 9.01 — Financial statements and exhibitsView on SEC
Summary generating — check back in a moment.
8-Kfiled 1mo ago2026-06-107.01 — Regulation FD disclosure · 9.01 — Financial statements and exhibitsView on SEC
Summary generating — check back in a moment.
8-Kfiled 2mo ago2026-05-26View on SEC
Interim CEO Kevin McGurn appeared on Fintech TV on May 26, 2026 to discuss the proposed business combination between TMTG and TAE Technologies, a fusion energy company; the interview transcript is attached as Exhibit 99.1, and TMTG confirms it intends to file a Form S-4 registration statement covering the deal but no S-4 has been filed yet.
10-Qfiled 2mo ago2026-05-08View on SEC
Revenue grew just 6% year-over-year to $871K in Q1 2026, driven by early Truth+ Patriot Package subscriptions and Truth.Fi ETF management fees, while core Truth Social advertising revenue declined. Cost of revenue surged 346% to $1.5M, driven largely by a $1.04M barter arrangement liability where TMTG received advertising services without yet providing reciprocal services, plus rising CDN and content license costs for Truth+. G&A exploded 51% to $37.9M, with legal fees alone hitting $24.1M, up $13.2M year-over-year, reflecting escalating litigation costs that dwarf the entire revenue base. The headline loss figure of $405.8M pretax before income taxes is dominated by two non-cash bitcoin-related items: a $244M unrealized loss on digital assets as bitcoin and Cronos prices fell from year-end 2025 levels, and a $108.2M investment loss comprising $161.7M in unrealized equity security losses partially offset by $16.5M in realized derivative gains and $37M in option premium income. Interest expense jumped to $11.5M from essentially zero, reflecting the debt load taken on via the May 2025 $1B convertible notes facility and WCT acquisition debt. R&D did fall 33% to $8.4M as stock-based compensation normalized from elevated prior-year grants, providing modest relief. Liquidity sits at $2.08B in combined cash, investments, and digital assets against $958.6M in debt, with operating cash flow turning positive at $17.9M driven by put option sales on pledged bitcoin. Management flags a November 2026 noteholder cash repayment option on the convertible notes as a potential liquidity event requiring refinancing. Strategically, the company is pursuing a potential spin-off of Truth Social and related assets into a new public entity via a merger with Texas Ventures III, while the TAE Technologies merger would combine TMTG's balance sheet with TAE's fusion energy technology, a pivot that would fundamentally reshape what this company is.
8-Kfiled 2mo ago2026-05-08View on SEC
DJT disclosed Q1 2026 earnings results via a press release (Exhibit 99.1) covering the quarter ended March 31, 2026. The filing is furnished, not filed, meaning it carries no Section 18 liability.
8-Kfiled 3mo ago2026-04-24View on SEC
Devin Nunes was terminated as CEO, Chairman, and director effective April 21, 2026, receiving salary continuation through September 30, 2026 and accelerated vesting of 96,721 RSUs under a Separation Agreement. Kevin McGurn was appointed Interim CEO on a 9-month contract at $125,000/month with 146,198 RSUs; Boris Epshteyn (Senior Counsel to President Trump) and Meredith O'Rourke (Trump's 2024 national finance director) were simultaneously added to the Board.
8-Kfiled 3mo ago2026-04-10View on SEC
Eric Swider resigned from DJT's Board of Directors effective April 6, 2026, with the filing stating the departure was not due to any dispute with management or the Board.
8-Kfiled 4mo ago2026-03-06View on SEC
Robert Lighthizer resigned from DJT's Board of Directors effective March 6, 2026, with the filing stating the departure was not the result of any dispute with management or the Board.

Peers

5 companies vs. DJT

Ticker	Company	Market cap	P/E	Rev growth	1Y return
DJT	Trump Media & Technology Group Corp.	$2.37B	—	1.7%	−55.2%
AD	Array Digital Infrastructure Inc	$2.99B	6.7×	-71.0%	−51.2%
GENI	Genius Sports Limited	$1.64B	—	33.3%	−39.6%
JOYY	JOYY, Inc. Sponsored ADR Class A	$3.74B	16.2×	-1.3%	+42.1%
PHI	PLDT Inc.	$4.26B	8.8×	0.8%	−20.0%
TDS	Telephone and Data Systems, Inc.	$3.56B	29.8×	-56.0%	−13.9%

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