NMAX · Newsmax, Inc.

Newsmax reported Q1 2026 revenue of $51.7 million, a 14.0% increase year-over-year, driven primarily by a 20.8% rise in broadcast revenue to $43.7 million. The broadcast segment benefited from a 75.2% jump in affiliate fees, attributed to new contractual relationships and expanded international licensing agreements. Digital revenue declined 12.7% to $8.0 million, with decreases in advertising, subscription, and product sales. Net loss improved significantly to $(2.2) million from $(17.2) million in the prior year, reflecting higher revenue, lower legal expenses, and improved other income, partially offset by higher production costs and stock-based compensation. Adjusted EBITDA was $(0.4) million, down from $0.4 million in Q1 2025, due to increased investment in programming, production, and OTT initiatives. Management highlighted strong audience reach, with 30.4 million total viewers and continued momentum across streaming and social platforms. The company reaffirmed its full-year 2026 revenue guidance of $212 million to $216 million, representing 13% growth at the midpoint. As of March 31, 2026, Newsmax held $129.1 million in cash and short-term investments with no long-term debt, providing financial flexibility to support growth investments.