Trump Media & Technology Group Corp.
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 7, 2025
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Unaudited Condensed Consolidated Statements of Operations
| Three Months Ended | Nine Months Ended | |||
|---|---|---|---|---|
| (in thousands except share and per share data) | September 30, 2025 | September 30, 2024 | September 30, 2025 | September 30, 2024 |
| Net sales | $972.9 | $1,010.9 | $2,677.4 | $2,618.3 |
| Operating costs and expenses(1) | ||||
| Cost of revenue | 446.8 | 123.3 | 1,126.4 | 252.9 |
| Research and development | 8,302.2 | 3,893.7 | 33,908.1 | 41,913.9 |
| Sales and marketing | 717.5 | 2,189.4 | 1,770.9 | 4,435.1 |
| General and administration | 31,056.1 | 17,697.0 | 84,852.0 | 95,910.7 |
| Change in fair value of digital assets | 16,204.6 | - | 16,204.6 | - |
| Depreciation and amortization | 1,904.1 | 762.2 | 5,516.8 | 771.5 |
| Total operating costs and expenses | 58,631.3 | 24,665.6 | 143,378.8 | 143,284.1 |
| Loss from operations | (57,658.4) | (23,654.7) | (140,701.4) | (140,665.8) |
| Interest income | 13,384.4 | 4,653.0 | 38,216.1 | 6,814.5 |
| Interest expense | (11,474.4) | (246.7) | (15,766.3) | (2,906.5) |
| Investment income | 984.5 | - | 12,069.5 | - |
| Change in fair value of derivative liabilities | - | - | - | (225,916.0) |
| Loss on the conversion of convertible debt | - | - | - | (542.3) |
| Loss from operations before income taxes | (54,763.9) | (19,248.4) | (106,182.1) | (363,216.1) |
| Income tax expense | (84.6) | - | (394.9) | - |
| Net loss | (54,848.5) | (19,248.4) | (106,577.0) | (363,216.1) |
| Less net loss attributable to noncontrolling interest | 40.4 | - | 60.0 | - |
| Net loss available to common stockholders | $(54,808.1) | $(19,248.4) | $(106,517.0) | $(363,216.1) |
| Loss per share attributable to common stockholders: | ||||
| Basic | $(0.20) | $(0.10) | $(0.43) | $(2.37) |
| Diluted* | $(0.20) | $(0.10) | $(0.43) | $(2.37) |
| Weighted Average Shares used to compute net loss per share attributable to common stockholders: | ||||
| Basic | 277,876,654 | 200,833,835 | 246,529,179 | 152,943,536 |
| Diluted | 277,876,654 | 200,833,835 | 246,529,179 | 152,943,536 |
(1)Operating costs and expenses include stock-based compensation expense as follows:
| Research and development | $2,886.9 | $ | - | $18,496.1 | $30,142.5 |
|---|---|---|---|---|---|
| General and administration | 7,603.3 | 45.7 | 27,590.4 | 54,491.2 | |
| Total stock-based compensation expense | $10,490.2 | $45.7 | $46,086.5 | $84,633.7 |
*Loss per share attributable to common stockholders for diluted calculation is based on the basic weighted shares as these are not dilutive. The basic and diluted loss per share attributable to common stockholders are therefore the same.
Condensed Consolidated Statements of Stockholders’ (Deficit)/Equity
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