Trump Media & Technology Group reported a $409.7 million third-quarter net profit, a dramatic reversal from a $238 million loss in the previous quarter. The company behind Truth Social generated only $2.97 million in revenue during the three months ended September 30, according to its SEC filing. A year earlier, it reported a $54.8 million loss.
The profit was driven overwhelmingly by $496.1 million in realized and unrealized gains on digital assets, pledged crypto and equity securities. Digital assets and pledged coins accounted for $378.1 million of those gains, while securities added another $118 million. Derivative losses and other expenses offset part of the windfall.
Chief Financial Officer Phillip Juhan said on the earnings call that Bitcoin rose about 42% during the quarter, from roughly $59,000 at the end of June to $84,000 at the end of September. Trump Media held approximately 15,649 Bitcoin at quarter-end, including around 11,385 coins pledged to a program designed to generate additional returns. Some of those assets are subject to arrangements allowing the counterparty to reuse the coins.
The company expanded into crypto in July 2025, purchasing about $2 billion in Bitcoin and related securities. That decision has tied its earnings closely to changes in digital-asset prices. In August, Trump Media lost $238 million in the second quarter as declining crypto prices battered its holdings.
Truth Social's underlying business improved from a small base. Revenue increased 205% from about $973,000 a year earlier, supported by subscriptions for Truth+ streaming and Truth API. The company also recorded growth in advertising sales and fees from its Truth.Fi funds. Even so, Trump Media reported a $12.3 million adjusted EBITDA loss, compared with a $29.1 million loss a year earlier.
DJT shares traded around $4.20 Tuesday, up about 3.3% on the day but down 94.7% from their $79.38 peak in 2024. The stock has lost nearly 70% this year. Trump Media still posted a $234.2 million net loss for the first nine months of 2026. It is also pursuing a $6 billion merger with fusion-energy developer TAE Technologies, with a shareholder vote scheduled for December 14. Before that vote, holders of the company's $1 billion in convertible notes can demand cash repayment on November 30.
