Trump Media and Technology Group (TMTG), the parent company of Truth Social, reported a $400.9 million net loss for 2024, according to its annual filing released on Friday, an exponential decline from the $58.2 million it lost in 2023.
Revenue took a hit too, dropping 12% year over year to $3.6 million. The company’s stock, trading under the ticker DJT, dipped 1% in after-hours trading following the announcement.
TMTG had initially doubled in value in 2024, riding on the bullish sentiment of Donald Trump’s election victory, but it’s still down 11% for the year, though the company’s market cap stands at $6.59 billion at press time regardless.
In its press release, TMTG blamed part of the decline on a restructured revenue-sharing agreement with an advertising partner, which resulted in lower sales.
