Newsmax reports $46.4 million revenue, 18.4% year-over-year growth

Newsmax Inc. (NYSE: NMAX) reported second quarter revenue of $46.4 million, representing an 18.4% increase from the same period in 2024, according to financial results released by the company.

Broadcasting revenues reached $38.0 million, up 28.5% year-over-year from $29.6 million in the second quarter of 2024. Advertising revenues increased 26.2% to $29.9 million, while affiliate revenues grew 7.3% to $7.3 million and subscription revenues rose 5.2% to $7.0 million.

The company reported a quarterly net loss of $75.2 million, compared to a net loss of $4.8 million in the prior year quarter. The larger loss was primarily attributed to a settlement with Dominion Voting Systems that was recognized in the second quarter according to generally accepted accounting principles, though the settlement was announced on August 18, 2025.

Quarterly adjusted EBITDA was negative $3.8 million, a decrease of $5.7 million from the same quarter last year. The company attributed this decline to increased costs of revenues and general administrative expenses related to business expansion and public company costs.

Newsmax ended the quarter with $197.9 million in cash and short-term investments, including $33.8 million in cash and cash equivalents and $164.1 million in short-term investments.

The company maintained its full-year 2025 revenue guidance of $180 million to $190 million. Chief Executive Officer Christopher Ruddy stated that the results demonstrate the strength of the company's diversified revenue model across affiliate fees, advertising, and subscription services.

During the quarter, Newsmax expanded its distribution to over 60 million U.S. homes and more than 100 countries through partnerships with platforms including Fubo and Hulu+. The company also secured a multi-year contract renewal with anchor Greta Van Susteren and was added to the Russell 2000 and Russell 3000 indexes.

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