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Trump Media swung to a $409.7M Q3 profit thanks to gains on crypto assets that had caused its Q2 loss.
Trump Media & Technology Group (DJT) posted $409.7 million in earnings for the third quarter, reversing a $238.1 million loss from the previous three-month period. The recovery was powered by gains on the same crypto and equity positions that had caused most of the earlier shortfall.
The parent company of Truth Social continued to operate at a loss on its core business. As a result, its quarterly bottom line moves up and down with changes in the value of the assets it holds.
Net gains on digital assets, pledged digital assets, and equity securities came to $496.1 million, according to the company’s earnings statement.
Digital assets, including those pledged, accounted for $378.1 million of that figure. At the end of the quarter, Trump Media owned 4,264 BTC and had pledged an additional 11,385 BTC for its options strategy.
Each quarter, the company values these holdings at prevailing market prices. That means price fluctuations go directly into net income.
During the second quarter, those same holdings generated $190.4 million in unrealized losses, which made up the bulk of the company’s deficit in that period.
Revenue climbed 205% year over year to $3.0 million, up from $1.0 million. The increase was fueled by subscriptions to Truth+ and Truth API, its data licensing product.
“We’ve remained committed to capitalizing on our business fundamentals, and that focus is paying off,” Interim CEO Kevin McGurn said.
Nevertheless, adjusted EBITDA showed a loss of $12.3 million.
The third-quarter profit also does not make up for earlier losses. Trump Media’s earnings show a net loss of $234.2 million for the first nine months of 2026.
Before the results were released, DJT stock closed at $4.06 on Monday, up 1.75% from $3.99. Following the announcement, shares rose 0.99% to $4.10 in after-hours trading.
The stock had hit a record low close after the November 3 midterm elections.
Trump Media’s quarterly filing lists $976.8 million in convertible notes as current liabilities. The notes come due in May 2028, but holders can demand cash repayment on November 30.
Against that obligation, the company had roughly $393 million in cash and short-term investments as of September 30.
The notes are also secured by a collateral pool. That pool includes 4,260.73 BTC worth $356.1 million, $331.4 million in Bitcoin-related assets, and $31.0 million in restricted cash.
Last week, wallets linked to the company reportedly moved 4,259 BTC to Crypto.com. That amount nearly matches the BTC in the collateral pool.
Trump Media’s other Bitcoin, valued at $951.4 million, is pledged to its options strategy.
The third-quarter profit reflects asset prices as of September 30. The next filing will revalue the same holdings at December 31, after the note deadline has passed.
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Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
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