Key points
- Trump Media & Technology Group Corp. (NASDAQ:DJT) reported third-quarter net income of $409.7 million, reversing a $54.8 million loss.
- Revenue increased 205% to $3 million, driven partly by Truth API subscriptions and Truth+.
- The SEC cleared its merger registration with TAE Technologies, setting a shareholder vote for 14 December.
Trump Media & Technology Group Corp. (NASDAQ:DJT) reported third-quarter net income of $409.7 million, reversing last year's $54.8 million loss.
Revenue climbed 205% to $3 million, while total assets reached $2.5 billion by September's end.
“Revenue grew 205% year-over-year on recurring subscription revenue, our cost structure is inherently leaner, and our balance sheet gives us real flexibility,” Interim CEO Kevin McGurn said in a statement.
Non-cash gains of $496.1 million from digital assets and equity securities drove much of the quarterly profit.
Truth API, the company's data licensing product, launched on 1 August and generated subscription growth alongside Truth+.
The SEC declared Trump Media's merger registration with fusion energy company TAE Technologies effective on 5 November.
Trump Media held approximately $2.3 billion in financial assets, including cash, investments and digital assets, at quarter-end.
Following the announcement, Trump Media shares were up 1.75% to $4.060.
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