Business
Trump Media Reports First Quarter 2025 Results
~ Ended First Quarter with $759.0 Million in Cash/Investments ~ ~ Operations Consumed Just $9.7 million of Cash Despite $10.9 Million in Primarily Legacy
About this update from Trump Media & Technology Group Corp.
[{"type":"text","content":"~ Ended First Quarter with $759.0 Million in Cash/Investments ~ ~ Operations Consumed Just $9.7 million of Cash Despite $10.9 Million in Primarily Legacy Legal Fees ~ ~ Diversified into FinTech and Financial Services with Launch of Truth.Fi ~ ~ Preparing to Launch Truth+ Subscription Service ~ ~ Eyeing Further Expansion through Mergers/Acquisitions ~ SARASOTA, Fla., May 09, 2025 (GLOBE NEWSWIRE) -- Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT) (\"Trump Media\" or the \"Company\"), operator of the social media platform Truth Social, the streaming platform Truth+, and the FinTech brand Truth.Fi, is announcing financial results for the fiscal quarter ending on March 31, 2025, and is filing its 10-Q with the Securities and Exchange Commission (the \"SEC\") today. In the first quarter Trump Media maintained a strong balance sheet, ending the quarter with $759.0 million of cash, cash equivalents, and short-term investments. The Company believes this amount of liquidity, in conjunction with Trump Media’s low operating costs and low cash burn rate, will fully enable it to pursue all its expansion plans, including enhancing its existing platforms, diversifying into fintech and financial services, and pursuing potential mergers and acquisitions. In the first quarter, Trump Media pursued its mission with the following actions: Introduced the Truth.Fi fintech and financial services brand.Partnered with Crypto.com and Yorkville America Digital to develop a slate of customized exchange-traded funds and products (collectively, “ETFs”) with America-First themes incorporating both cryptocurrencies and traditional securities.Partnered with Index Technologies Group and Yorkville America Equities to develop a slate of customized separately managed accounts (“SMAs”) with America-First themes.Adopted a financial services and fintech strategy that includes investing up to $250 million, to be custodied by Charles Schwab, in assets including Truth.Fi’s own financial products, cryptocurrencies, and other securities.Secured payment processing capabilities for the Truth Social and Truth+ platforms.Debuted on the New York Stock Exchange in Texas, complementing the Company’s listing on the Nasdaq.Launched an app to stream Truth+ content on Roku television sets alongside numerous other connected TV brands. Trump Media also recently obtained...