Overview
- Trump Media & Technology Group reported a $405.9 million net loss for the first quarter on revenue of $871,200.
- Management said about $368.7 million of the loss came from unrealized losses on digital assets and equity holdings.
- The company reported $17.9 million in positive operating cash flow and about $2.1 billion in financial assets.
- The filing detailed a large bitcoin position, with more than 9,500 BTC bought last July at an average $108,519 and 2,000 BTC sold in late February.
- Leadership shifted in April as Devin Nunes left the CEO role and Kevin McGurn became interim chief, with plans to keep investing in Truth Social and to pursue a proposed merger with TAE Technologies.