Overview
- The company disclosed Monday that it lost $238.1 million in the second quarter on about $1.7 million in revenue, with per‑share losses rising to $0.86.
- TMTG said roughly $190.4 million of the quarterly shortfall came from unrealized losses on digital assets, pledged coins and equity securities and reported roughly 14,139 BTC on its books after quarter end.
- Interim CEO Kevin McGurn announced a retreat from many non‑media ventures to refocus on Truth Social and to scale Truth API, a paid feed launched Aug. 1 that the company says has signed about ten customers paying $60,000 to $100,000 per month.
- Independent traffic data show Truth Social monthly visitors fell about 36 percent year‑over‑year in July, the stock has dropped roughly 80 percent since its 2024 debut and shares slid about 8 percent on the day of the earnings release.
- Key near‑term risks include an investor option to demand early repayment of $1 billion in convertible notes in November, the volatile value of its crypto treasury that it plans to reset, and growing ethical and congressional scrutiny of Truth API.