Trump Media & Technology Group Corp. reports results on Friday 6 November, after the market closes. Revenue over the twelve months to Q2 2026 was $4.5 million, up 21.6% on the year before. The report will test whether that growth rate continues to accelerate against a backdrop of deeply negative operating margins.
Source: SEC EDGAR XBRL company facts. Latest period shown: FY26 Q2.
View chart data
| Period | Revenue growth, TTM YoY | Operating margin (TTM) | FCF margin (TTM) |
|---|---|---|---|
| FY24 Q4 | -12.4% | -5140.9% | -1824.3% |
| FY25 Q1 | -3.1% | -3467.0% | -1810.6% |
| FY25 Q2 | 8.3% | -4092.4% | -1106.3% |
| FY25 Q3 | 9.1% | -5059.3% | -170.6% |
| FY25 Q4 | 1.8% | -15560.8% | 385.2% |
| FY26 Q1 | 1.7% | -22156.0% | 1120.1% |
| FY26 Q2 | 21.6% | -20955.8% | 187.8% |
Cash is holding up better than reported profit
Revenue growth is picking up. The 21.6% year-on-year rate was up 19.9 percentage points on the rate a quarter earlier. The trailing gross margin sits at 23.9%, but the operating margin is −20955.8%, down 16863.4 percentage points from a year earlier. The trailing net margin is −28860.4%, and the company posted a net loss of $1.3 billion over the twelve months.
The cash picture contrasts with the income statement. Operating cash flow over the twelve months was $8.5 million, up 89.0% on the year before. That gives a free-cash-flow margin of 187.8%, up 1294.2 percentage points from a year earlier. In the same period the company posted a net loss of $1.3 billion, it generated more cash than its revenue.
Set against its own history, the free-cash-flow margin of 187.8% is higher than 80% of the company's past quarterly readings, which have ranged from −1824.3% to 1120.1%. The operating margin of −20955.8% is higher than only 10% of past readings, which range from −22156.0% to −386.5%.
The average diluted share count rose 26.0% over the year. That dilution narrows the per-share effect of any cash generation.
Questions this report will answer
Two questions stand out. First, whether the pick-up in revenue growth continues, the acceleration from a quarter earlier is the most recent positive data point going into the print. Second, whether margins hold at the trailing levels above. The operating and net margins are deeply negative, and any movement will be visible against a revenue base of $4.5 million.
The value hinges on growth more than margins
Our model's output depends heavily on the growth assumption. A 5-percentage-point lower growth rate would lower the value by 38.3%, and a 5-percentage-point higher rate would raise it by 49.0%. By contrast, a 1-percentage-point lower free-cash-flow margin would lower the value by only 0.2%. Growth drives the model far more than margin does.
