NEW YORK — Trump Media & Technology Group reported $1.7 million in revenue for the second quarter of 2026, an 89% increase from the prior year. The company posted a net loss of $238.1 million and announced strategic pivots away from cryptocurrency ventures toward a proposed merger with a nuclear fusion energy firm.

The second-quarter 2026 revenue represented an 89% increase from the $883,300 generated in the second quarter of 2025. The per-share loss widened to 86 cents in the second quarter of 2026, compared to 8 cents in the same period a year earlier.

The company's second-quarter 2026 net loss was more than 10 times the $20 million loss recorded in the same period of 2025. Approximately $190.4 million of the second-quarter loss was attributed to non-cash unrealized losses on digital assets, pledged digital assets, and equity securities. The company reported operating losses of $164 million for the second quarter of 2026, excluding paper losses, taxes, interest, and other items. Operating losses were $44 million in the second quarter of 2025.

Quarterly operating expenses exceeded $165 million, representing a roughly 275% increase year over year. The company reported $25.6 million in legal expenses for the second quarter of 2026, primarily related to legacy litigation that has been substantially resolved.

Kevin McGurn serves as the interim chief executive. Phillip Juhan serves as the chief financial officer. "Over the past few months, we’ve sharpened our strategic direction and brought real discipline to how we allocate capital," McGurn said in a statement.

The company announced plans to abandon expansion into online betting and crypto businesses to refocus on its social media mission. Trump Media and Crypto.com mutually agreed not to pursue their previously announced partnership regarding a rewards system using Crypto.com’s digital wallet infrastructure and CRO digital currency. The company announced the mutual termination of its proposed business combination with Yorkville Acquisition Corp. on August 7, 2026. The proposed combination was intended to establish Trump Media Group CRO Strategy, Inc. a digital asset treasury company focused on acquiring Cronos ecosystem tokens.

Trump Media launched a service called Truth API on August 1, 2026. Truth API provides instant access to the highest-ranking accounts on the Truth Social platform, including President Donald Trump’s account. Truth API charges customers between $60,000 and $100,000 per month.

The company has signed more than 10 customer agreements for Truth API. Truth API customers are primarily high-frequency trading firms.

"Providing licensed real-time public data through commercial APIs is a well-established business practice across the technology, financial information and media industries," McGurn said during an earnings call. Senator Bill Cassidy criticized Truth API as "a form of buying access." Democrats have vowed to investigate the Truth API service if they gain control of Congress in the midterms.

Trump Media expects to close its merger with nuclear fusion energy company TAE Technologies by the fourth quarter of 2026. The merger agreement with TAE Technologies was announced in December 2025 as an all-stock deal valued at more than $6 billion. There are currently no commercial plants producing electricity using fusion technology.

Trump Media stock fell 8% in regular trading on August 10, 2026. Truth Social traffic fell sharply during the summer of 2026. The company ended the second quarter with total assets of $2.0 billion.

Financial assets totaled approximately $1.9 billion at the end of the second quarter, comprising cash, restricted cash, short-term investments, equity securities, note receivable, accrued interest, digital assets, and pledged digital assets. The company held more than $400 million in cash and short-term investments at the end of the second quarter. The company held $1.2 billion in bitcoin and bitcoin-related assets at the end of the second quarter.

The company has $1 billion in debt from special convertible notes that do not come due until 2028. Lenders have an option to demand the convertible notes be cashed out in November 2026. Donald Trump is the largest shareholder, holding more than 40% of shares through a revocable trust.

Why It Matters

The company's operating losses widened to $164 million while expenses surged 275%, creating a reliance on non-cash asset valuations that comprise most of its $2.0 billion in total assets. With lenders holding an option to demand cash repayment on $1 billion in convertible notes by November 2026, the firm faces potential liquidity pressure despite holding $400 million in cash. The strategic shift away from cryptocurrency ventures toward a nuclear fusion merger represents a significant reallocation of resources before these financial obligations come due.