Revenue: As of FY2026 Q1, the actual value is USD 51.66 M, beating the estimate of USD 48.92 M.

EPS: As of FY2026 Q1, the actual value is USD -0.02.

EBIT: As of FY2026 Q1, the actual value is USD -5.81 M.

Overall Company Performance

• Total Revenues: Newsmax Inc. reported total revenues of $51,658,491 for the three months ended March 31, 2026, marking a 14.0% increase from $45,301,707 in the same period of 2025.
  • Service revenue saw significant growth, with affiliate fees rising 75.2% to $13,010,893 and licensing revenue increasing 697.0% to $3,487,299.
  • However, advertising revenue decreased by -5.8% to $27,217,224, and subscription revenue declined by -7.9% to $6,431,365.
  • Product sales also decreased by -3.5% to $1,511,710.
• Cost of Revenues: Increased by 22.8% to $31,729,763 for Q1 2026 from $25,839,571 in Q1 2025, primarily due to higher production headcount, programming, production costs for Newsmax TV and Newsmax2, increased stock-based compensation, and advertising service platform costs.
• Gross Profit: Increased by 2.4% to $19,928,728 in Q1 2026 from $19,462,136 in Q1 2025.
  • Gross profit as a percentage of revenues decreased to 38.6% from 43.0%, mainly because cost of revenues grew faster than total revenues and changes in product mix.
• General and Administrative Expense: Decreased by -21.4% to $24,397,812 in Q1 2026 from $31,034,916 in Q1 2025, mainly due to a reduction in legal expenses from the settlement of legal matters in 2025.
• Net Loss: Improved significantly, decreasing by 87.3% to -$2,188,210 in Q1 2026 from -$17,232,525 in Q1 2025.

Segmented Financial Metrics

Broadcasting Segment

• Revenues: Increased by 20.8% to $43,701,492 in Q1 2026 from $36,187,178 in Q1 2025.
  • Affiliate fee revenue increased by $5,582,470 (75.2%) due to new contractual relationships and rate increases.
  • Licensing revenue grew by $3,049,777 (697.1%) due to an expanded international license agreement.
  • Advertising revenue decreased by -$899,493 (-3.7%), and subscription revenue decreased by -$218,440 (-5.9%).
• Adjusted Cost of Sales: Increased to $24,622,400 in Q1 2026 from $19,962,722 in Q1 2025.
• Adjusted General and Administrative Expenses: Increased to $15,112,660 in Q1 2026 from $13,033,591 in Q1 2025.
• Broadcasting Adjusted EBITDA: Increased by 24.3% to $3,966,432 in Q1 2026 from $3,190,865 in Q1 2025, primarily driven by increases in affiliate fee and licensing revenue, partially offset by rising cost of revenues and SG&A expenses due to increased headcount and programming costs.

Digital Segment

• Revenues: Decreased by -12.7% to $7,956,999 in Q1 2026 from $9,114,529 in Q1 2025.
  • This was primarily due to decreases in advertising revenue (down -$770,476 or -18.1%) and subscription revenue (down -$332,355 or -10.1%).
  • Product sales also decreased slightly by -$54,699 (-3.5%).
• Adjusted Cost of Sales: Decreased to $5,063,956 in Q1 2026 from $5,224,696 in Q1 2025.
• Adjusted General and Administrative Expenses: Increased to $7,213,811 in Q1 2026 from $6,632,514 in Q1 2025.
• Digital Adjusted EBITDA: Decreased by -57.5% to -$4,320,768 in Q1 2026 from -$2,742,681 in Q1 2025, attributed to lower advertising and subscription revenues, partially offset by reduced cost of revenues, but impacted by higher personnel and marketing expenses.

Cash Flow

• Net Cash Used in Operating Activities: Was -$2,642,837 for Q1 2026, an improvement from -$15,725,959 in Q1 2025, mainly due to the net loss, non-cash expenses, investment gains, and timing of working capital activities.
• Net Cash Used in Investing Activities: Was -$594,203 for Q1 2026, a significant decrease from -$29,463,622 in Q1 2025, primarily due to lower purchases of property, equipment, and investments.
• Net Cash Provided by Financing Activities: Was $2,779 for Q1 2026, a substantial drop from $147,855,388 in Q1 2025, as 2025 included proceeds from convertible stock and the initial public offering.

Liquidity and Capital Resources

• Newsmax Inc. had $17.2 million in cash and cash equivalents and $111.9 million in investments as of March 31, 2026.
• The company maintains a fully funded escrow amount of $20.0 million for the final installment of a settlement agreement with Dominion, due on or before January 15, 2027.
• Management believes current liquidity sources are sufficient to meet business operating requirements and capital expenditures for the next 12 months.

Strategic Summary

Newsmax Inc. is focused on enhancing its platform by investing in programming, strengthening its digital experience, broadening monetization opportunities, and pursuing strategic domestic and international growth initiatives, including distribution and licensing arrangements. The company has expanded its reach, with Newsmax Broadcasting’s TV content available in over 100 million U.S. homes and licensing agreements extending the Newsmax brand to viewers in more than 100 countries, including the recent launch of Newsmax Ukraine in February 2026.