The company reported just $3.7 million in annual revenue, its stock had fallen 84% from its 2024 debut, and chief executive Devin Nunes was fired last week.
Losses have worsened from $58 million in 2023 to about $400 million in 2024 and more than $700 million in 2025, while revenue stayed near $1 million a quarter.
Trump Media has said its fortunes depend on Donald Trump's popularity and warned of funding doubts, despite retaining a roughly $2 billion valuation after losing about $1.1 billion since going public.
After losing its CEO and $1.1 billion, what is the secret behind Trump Media's surprising market value?
With its media platform failing, can a pivot to nuclear fusion salvage Trump Media's multi-billion dollar valuation?