Business
TMTG Reports Full-Year 2024 Results
~ Ended 2024 with $777 Million in Cash & Short-Term Investments ~ ~ Exploring Mergers & Acquisitions across Multiple Industries, Evolving TMTG into a Holding
About this update from Trump Media & Technology Group Corp.
[{"type":"text","content":"~ Ended 2024 with $777 Million in Cash & Short-Term Investments ~ ~ Exploring Mergers & Acquisitions across Multiple Industries, Evolving TMTG into a Holding Company ~ ~ Approaching End of Beta Testing of Truth+ Video Streaming ~ ~ Launching Truth.Fi Financial Services and FinTech Brand ~ SARASOTA, Fla., Feb. 14, 2025 (GLOBE NEWSWIRE) -- Trump Media and Technology Group Corp. (Nasdaq: DJT) (\"TMTG\" or the \"Company\"), operator of the social media platform Truth Social, the video streaming service Truth+, and the financial services and FinTech brand Truth.Fi, announced its financial results for the full year ending on December 31, 2024. These results are included in TMTG’s Annual Report on Form 10-K that will be filed with the Securities and Exchange Commission (the \"SEC\") today. TMTG closed 2024 with a strong balance sheet comprised of $776.8 million in cash and short-term investments, strongly positioning the Company to advance its immediate goal of enhancing and expanding all its platforms—Truth Social, Truth+, and Truth.Fi. TMTG has achieved this result after launching its first product less than three years ago, amid severe repression of free speech across social media platforms, with the mission of opening up the Internet and giving people their voices back. Now, the Company has established a strong cash position to pursue further expansions and acquisitions, has opened up new frontiers for an iconic brand and has attracted approximately 650,000, largely retail, shareholders, as of October 15, 2024. TMTG began with the launch of the free speech social media platform Truth Social, designed to provide an outlet for users, including President Trump, who were being subject to onerous political censorship on other platforms. In 2024, the Company continued its consistent efforts to enhance and refine the platform, including by introducing: live TVa personalized “For you” feedvideo ads on Truth Social appsan increased character count of 3,000 charactersbookmarks In 2024, the Company successfully rolled out the Truth+ video streaming service. Featuring news, entertainment, faith-based programming, and other family-friendly content, Truth+ is now nearing completion of beta testing and transitioning to a full launch. The introduction of Truth+ in 2024 entailed: creating a proprietary, multi-site content delivery network that is d...