Trump Media posts $238 million Q2 loss, refocuses on Truth Social
Trump Media, the company behind Truth Social, just posted a huge $238 million loss for Q2 2026, more than 10 times the level a year earlier.
Losses per share also jumped to 86 cents from 8 cents.
In response, new CEO Kevin McGurn says they're dropping side projects like online betting and crypto to put their energy (and money) into making Truth Social work.
Truth API sells access to traders
The company's broader pivot is back to its core social media platform, with Truth API as a key part of that plan, a tool that lets trading firms pay big bucks ($60,000 to $100,000 a month) for early access to posts from major voices on Truth Social, including US President Donald Trump, the platform's most-followed user.
With 10 clients so far, this could bring in up to $12 million a year.
Even with revenue more than double to $1.7 billion last quarter, losses are still piling up.
Still, McGurn remains upbeat about the future and points to the fusion business as a reason for optimism.