Losses balloon at Trump Media the company behind Truth Social

Losses at the company behind Donald Trump's social media platform - Truth Social, have ballooned, new figures reveal.

The $238m (£176.3m) net loss recorded by Trump Media and Technology Group in the quarter ending 30 June is more than ten times that of a year earlier.

During the same period last year, the net loss was around $20m (£14.8m).The figures also show the company made a net loss of $644m for the first six months of 2026.

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Trump Media has reported losses every quarter since it became a public company more than two years ago.

The latest financial performance was attributed to the decline in value of crypto and other digital assets.

The company said it also faced $25.6m (£19m) of legal expenses, mostly related to legacy litigation.

What is Trump Media and Technology Group?

As well as owning Truth Social, the company also has interests in online betting, finance and nuclear energy but aims to refocus on social media.

Even with this refocus, a merger with nuclear fusion company TAE Technologies is intended to go ahead.

Plans to create a subscription service, whereby service users pay to get instant, high-speed access to posts on Truth Social ahead of others have also been developed.

The product, called Truth API, is designed for the likes of Wall Street traders to get access to posts ahead of others. Financial makets have previously moved following some of President Trump's own Truth Social posts.

It has signed up its first 10 customers, the company said in the results announcement.

A bright spot

While losses mounted for Trump Media, the company's revenue stream grew.

It posted $1.7m (£1.25m) in revenue for the period, up 89% from the $900,000 generated a year prior.

(c) Sky News 2026: Losses balloon at Trump Media the company behind Truth Social