Latest news with #Newsmax2
Indianapolis Star
2 days ago
- Business
- Indianapolis Star
Newsmax2 FAST Channel Sees 25% Growth in May
BOCA RATON, FL / ACCESS Newswire Newsmax Inc. (NYSE:NMAX) ('Newsmax' or the 'Company') today reported May ratings for the Company's free streaming channel Newsmax2, with an increase of 25% in total viewership year-over-year. Newsmax2 airs across more than a dozen major OTT Fast platforms and over-the-air digital broadcast channels, and on the Newsmax App available on smartphones and televisions. More than 21.5 million cumulative viewers tuned into Newsmax2 in May 2025, according to third-party data provided by OTT platforms' internal dashboards. The data also showed that not only are more viewers tuning in, but they are watching Newsmax2 longer, with average time spent watching up 36% from May 2024. 'Newsmax's investment in its streaming channel is paying off with more viewers watching more,' said Jason Villar, Newsmax VP of Research. 'Streaming and FAST channels are growing, and we are riding that wave positively and effectively.' Villar noted that Newsmax2 is also broadcast on digital channels through terrestrial broadcast stations in more than 47 television markets, including serving six of the top 12 U.S. markets, including Atlanta, San Francisco, Houston and Philadelphia. The Newsmax2 channel airs 24/7 and includes news reports from the network's national and global bureaus as well as popular opinion shows with Ed Henry, Bianca de la Garza, John Bachman, David Harris Jr., Rudy Giuliani and Wendy Bell, among others. Newsmax Broadcasting airs several channels, including the popular pay TV channel Newsmax, the military history channel World at War and Newsmax2. 'Our strategy of offering free and paid channels is working well for Newsmax and we expect to continue to see growth in these areas in the future,' Newsmax CEO Christopher Ruddy said. The Newsmax channel is carried by all major pay TV distributors and Newsmax2 is carried on FAST platforms on Samsung+, Roku, Vizio, LG, Xumo, Pluto TV, Amazon Fire and others. See Newsmax2 platforms and channels here. Both channels are also available on the Company's paid streaming service Newsmax+. The service is available on iPhone and Android phones with a free trial offer. About Newsmax Newsmax, through its subsidiary Newsmax Broadcasting LLC, operates Newsmax, the nation's fourth highest-rated cable news network, according to Nielsen. Newsmax is carried on all major cable, satellite systems, and virtual pay TV operators. Newsmax reaches more than 40 million Americans regularly through Newsmax TV, the Newsmax+ App, its popular website and publications like Newsmax Magazine. Reuters Institute says Newsmax is one of the top 12 U.S. news brands and Forbes has called us 'a news powerhouse.' For more information, please visit Investor Relations | Newsmax Inc. Forward-Looking Statements This communication contains forward-looking statements. From time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements can be identified by those that are not historical in nature. The forward-looking statements discussed in this communication and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. Newsmax does not guarantee future results, performance or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. Forward-looking statements should not be relied upon as predictions of future events. We are under no duty to update any of these forward-looking statements after the date of this communication to conform our prior statements to actual results or revised expectations, and we do not intend to do so. Factors that may cause actual results to differ materially from current expectations include various factors, including but not limited to the factors set forth in the sections entitled 'Risk Factors' in Newsmax's Annual Report on Form 10-K for the twelve months ended December 31, 2024, Newsmax's Quarterly Report on Form 10-Q for the three months ended March 31, 2025, and other filings Newsmax makes with the Securities and Exchange Commission. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Undue reliance should not be placed on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Investor Contacts Newsmax Investor Relations ir@ SOURCE: Newsmax Inc.
Miami Herald
2 days ago
- Business
- Miami Herald
Newsmax2 FAST Channel Sees 25% Growth in May
BOCA RATON, FL / ACCESS Newswire / June 10, 2025 / Newsmax Inc. (NYSE:NMAX) ("Newsmax" or the "Company") today reported May ratings for the Company's free streaming channel Newsmax2, with an increase of 25% in total viewership year-over-year. Newsmax2 airs across more than a dozen major OTT Fast platforms and over-the-air digital broadcast channels, and on the Newsmax App available on smartphones and televisions. More than 21.5 million cumulative viewers tuned into Newsmax2 in May 2025, according to third-party data provided by OTT platforms' internal dashboards. The data also showed that not only are more viewers tuning in, but they are watching Newsmax2 longer, with average time spent watching up 36% from May 2024. "Newsmax's investment in its streaming channel is paying off with more viewers watching more," said Jason Villar, Newsmax VP of Research. "Streaming and FAST channels are growing, and we are riding that wave positively and effectively." Villar noted that Newsmax2 is also broadcast on digital channels through terrestrial broadcast stations in more than 47 television markets, including serving six of the top 12 U.S. markets, including Atlanta, San Francisco, Houston and Philadelphia. The Newsmax2 channel airs 24/7 and includes news reports from the network's national and global bureaus as well as popular opinion shows with Ed Henry, Bianca de la Garza, John Bachman, David Harris Jr., Rudy Giuliani and Wendy Bell, among others. Newsmax Broadcasting airs several channels, including the popular pay TV channel Newsmax, the military history channel World at War and Newsmax2. "Our strategy of offering free and paid channels is working well for Newsmax and we expect to continue to see growth in these areas in the future," Newsmax CEO Christopher Ruddy said. The Newsmax channel is carried by all major pay TV distributors and Newsmax2 is carried on FAST platforms on Samsung+, Roku, Vizio, LG, Xumo, Pluto TV, Amazon Fire and others. See Newsmax2 platforms and channels here. Both channels are also available on the Company's paid streaming service Newsmax+. The service is available on iPhone and Android phones with a free trial offer. About Newsmax Newsmax, through its subsidiary Newsmax Broadcasting LLC, operates Newsmax, the nation's fourth highest-rated cable news network, according to Nielsen. Newsmax is carried on all major cable, satellite systems, and virtual pay TV operators. Newsmax reaches more than 40 million Americans regularly through Newsmax TV, the Newsmax+ App, its popular website and publications like Newsmax Magazine. Reuters Institute says Newsmax is one of the top 12 U.S. news brands and Forbes has called us "a news powerhouse." For more information, please visit Investor Relations | Newsmax Inc. Forward-Looking Statements This communication contains forward-looking statements. From time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements can be identified by those that are not historical in nature. The forward-looking statements discussed in this communication and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. Newsmax does not guarantee future results, performance or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. Forward-looking statements should not be relied upon as predictions of future events. We are under no duty to update any of these forward-looking statements after the date of this communication to conform our prior statements to actual results or revised expectations, and we do not intend to do so. Factors that may cause actual results to differ materially from current expectations include various factors, including but not limited to the factors set forth in the sections entitled "Risk Factors" in Newsmax's Annual Report on Form 10-K for the twelve months ended December 31, 2024, Newsmax's Quarterly Report on Form 10-Q for the three months ended March 31, 2025, and other filings Newsmax makes with the Securities and Exchange Commission. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Undue reliance should not be placed on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Investor Contacts Newsmax Investor Relationsir@ SOURCE: Newsmax Inc.
Miami Herald
16-05-2025
- Business
- Miami Herald
Newsmax Announces First Quarter 2025 Financial Results
Company Reports Revenues of $45.3 million, an 11.6% Increase Year-Over-Year, In First Earnings Report as a Public Company Newsmax Remains the 4th Highest-Rated Cable News Channel With Over 33 Million Quarterly Viewers BOCA RATON, FL / ACCESS Newswire / May 15, 2025 / Newsmax Inc. (NYSE:NMAX) ("Newsmax" or the "Company") today announced its financial results for the first quarter ended March 31, 2025. Management Commentary "We are thrilled to share our first earnings results as a publicly traded company since we listed on the New York Stock Exchange in March," commented Christopher Ruddy, CEO of Newsmax Inc. "This milestone marks the beginning of an exciting new chapter for us as a public company. I want to sincerely thank everyone who participated in both our private raise and IPO - your support made this achievement possible." Ruddy continued, "Newsmax has grown into the fourth highest-rated cable news channel reaching 60 million homes through our main Newsmax channel, our free streaming channel Newsmax2, the Newsmax App and its streaming service Newsmax+, our website and our publications such as Newsmax Magazine. Newsmax now reaches 20 million combined social media followers through our various accounts, with the best per-follower engagement rate in TV news. Our growth is due in part to our continued mission of providing those Americans with balanced coverage, diverse viewpoints and open debates on the issues they care about." "So far in 2025, we are proud to report impressive financial performance, driven by the strength of our brand, audience engagement and our ongoing commitment to independent, values-driven journalism. Our strong relationships with distributors and advertisers, such as our recently announced multi-year agreement with Hulu + Live TV, our broadcasting agreement with the Dominican Republic's Supercanal and our distribution agreements with Cellcom Israel and Telecom Armenia, not only reinforce our position in key international markets but also ensure that our content reaches broader audiences across platforms." "Looking ahead to the rest of 2025, we are well-positioned to continue growing our viewership, securing transformative distribution agreements, expanding our extensive content offerings and bringing onboard quality talent to deliver trusted news to the American people." First Quarter 2025 Business and Operational Highlights The first quarter 2025 Nielsen report ranked Newsmax highly across a number of metrics:Newsmax hit a recent record 33.6 million viewers watching the network in the first quarter of 2025, up 50% from the same period last was the fifth highest-rated network in all of cable TV for total remained the fourth highest-rated cable news channel in the U.S., ranking second in engagement (length-of-tune) for all dayparts ages also broke records in Q1 2025, and for all of 2024, becoming No. 1 for all U.S. news networks (broadcast and cable) for per-follower social interaction rate on Facebook, X and signed a multi-year extension with veteran news anchor and broadcaster Greta Van Susteren to host "The Record with Greta Van Susteren." First Quarter 2025 Financial Highlights Newsmax reported total quarterly revenues of $45.3 million for the three-month period ended March 31, 2025, representing an 11.6% year-over-year Revenues increased 13.5% year-over-year to $28.9 million driven by higher linear cable and satellite advertising due to higher Nielsen ratings which translated to higher Revenues increased 12.5% year-over-year to $7.4 million driven by new contractual relationships as well as rate increases that went into effect in Revenues increased 10.2% year-over-year to $7.0 million driven by an increase in Newsmax + Sales Revenues increased 9.1% year-over-year to $1.6 million driven by the new book releases of its Humanix subsidiary, including titles "Pay Zero Taxes", "Turnaround" and "Plan Red", offset slightly by lower nutraceutical reported a quarterly Net Loss of $(17.2) million as compared to a Net Loss of $(50.7) million reported in the prior year quarter. While operating expenses increased this quarter, including regulatory, compliance and reporting costs associated with public company requirements, there were significant legal and settlement expenses in the prior year quarter related to the Smartmatic legal Adjusted EBITDA was $(1.2) million, a decrease of $4.4 million, or 136.5%, from the amount reported in the prior year quarter, primarily due to an increase in cost of revenues and general and administrative costs associated with the continued expansion of the business, costs associated with becoming a public company and costs associated with coverage of the inauguration of President Donald J. Trump on January 20, Company ended the quarter with $126.7 million in Cash and Cash Equivalents, an increase of 426.8% from $24.1 million in December 31, 2024. "We are pleased to report strong quarterly results, highlighted by increased viewer engagement across both linear and digital platforms, growth in advertising partnerships and the successful launch of new programming," commented Darryle Burnham, Chief Financial Officer. "With enhanced access to capital from our pre-IPO and IPO raises, we are well-positioned to sustain our momentum. As we execute on our financial and strategic priorities, we remain focused on delivering long-term value to our shareholders." 1 The Company compensates for limitations of the adjusted EBITDA measure by prominently disclosing GAAP net income (loss), which the Company believes is the most directly comparable GAAP measure, and providing investors with a reconciliation from GAAP net income (loss) to adjusted EBITDA on page 12. About Newsmax Newsmax Inc. is listed on the NYSE (NMAX) and operates, through Newsmax Broadcasting LLC, one of the nation's leading news outlets, the Newsmax channel. The fourth highest-rated network is carried on all major cable and satellite systems. Newsmax's media properties reach more than 40 million Americans regularly through Newsmax TV, the Newsmax App, its popular website and publications such as Newsmax Magazine. Through its social media accounts, Newsmax reaches 20 million combined followers. Reuters Institute says Newsmax is one of the top U.S. news brands and Forbes has called Newsmax "a news powerhouse." For more information, please visit Investor Relations | Newsmax Media, Inc. Investor Contacts Newsmax Investor Relationsir@ FORWARD-LOOKING STATEMENTS: This communication contains forward-looking statements. From time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements can be identified by those that are not historical in nature. The forward-looking statements discussed in this communication and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. The Company does not guarantee future results, performance or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. Forward-looking statements should not be relied upon as predictions of future events. We are under no duty to update any of these forward-looking statements after the date of this communication to conform our prior statements to actual results or revised expectations, and we do not intend to do so. Factors that may cause actual results to differ materially from current expectations include various factors beyond management's control, including but not limited to changes in domestic and global general economic and macro-economic conditions and the volatility of the price of Common Stock that may result from, among other things, comments by securities analysts or other third parties, including blogs, articles, message boards and social and other media, large shareholders exiting their position in our Common Stock, any negative public perception of us, sales of shares by Yorkville or other shares we previously registered for resale and/or uncertainties and factors set forth in the sections entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the twelve months ended December 31, 2024, the Company's Quarterly Report on Form 10-Q for the three months ended March 31, 2025, and other filings the Company makes with the Securities and Exchange Commission. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Undue reliance should not be placed on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. USE AND DEFINITION OF NON-GAAP FINANCIAL MEASURES This press release contains a financial measure that has not been prepared in accordance with United States Generally Accepted Accounting Principles ("U.S. GAAP"). This financial measure is Adjusted EBITDA. Non-GAAP financial measures are used to supplement the financial information presented on a U.S. GAAP basis and should not be considered in isolation or as a substitute for the relevant U.S. GAAP measures and should be read in conjunction with information presented on a U.S. GAAP basis. Because not all companies use identical calculations, our presentation of Non-GAAP measures may not be comparable to other similarly titled measures of other companies. Adjusted EBITDA1 is defined as revenues less cost of revenues and general and administrative expenses and does not include depreciation and amortization, interest expense, net, impairment charges, unrealized gains (losses) on marketable securities, other corporate matters (consisting primarily of certain litigation expenses, and related fees, for specific legal proceedings that the Company has determined are infrequent and unusual in terms of their magnitude), other, net, and income tax expense. NEWSMAX INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited) (1) On March 28, 2025, the Company announced a 6,765.396 for 1 stock split, effective March 31, 2025. This stock split is reflected retroactively in all periods presented for the common shares issued and outstanding. NEWSMAX INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ANDCOMPREHENSIVE INCOME (LOSS)(Unaudited) (1) On March 28, 2025, the Company announced a 6,765.396 for 1 stock split, effective March 31, 2025. This stock split is reflected retroactively in all periods presented for the common shares issued and outstanding. NEWSMAX INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) NEWSMAX INC. AND SUBSIDIARIESADJUSTED EBITDA RECONCILIATION(Unaudited) SOURCE: Newsmax Inc.
Yahoo
15-05-2025
- Business
- Yahoo
Newsmax Announces First Quarter 2025 Financial Results
Company Reports Revenues of $45.3 million, an 11.6% Increase Year-Over-Year, In First Earnings Report as a Public Company Newsmax Remains the 4th Highest-Rated Cable News Channel With Over 33 Million Quarterly Viewers BOCA RATON, FL / / May 15, 2025 / Newsmax Inc. (NYSE:NMAX) ("Newsmax" or the "Company") today announced its financial results for the first quarter ended March 31, 2025. Management Commentary "We are thrilled to share our first earnings results as a publicly traded company since we listed on the New York Stock Exchange in March," commented Christopher Ruddy, CEO of Newsmax Inc. "This milestone marks the beginning of an exciting new chapter for us as a public company. I want to sincerely thank everyone who participated in both our private raise and IPO - your support made this achievement possible." Ruddy continued, "Newsmax has grown into the fourth highest-rated cable news channel reaching 60 million homes through our main Newsmax channel, our free streaming channel Newsmax2, the Newsmax App and its streaming service Newsmax+, our website and our publications such as Newsmax Magazine. Newsmax now reaches 20 million combined social media followers through our various accounts, with the best per-follower engagement rate in TV news. Our growth is due in part to our continued mission of providing those Americans with balanced coverage, diverse viewpoints and open debates on the issues they care about." "So far in 2025, we are proud to report impressive financial performance, driven by the strength of our brand, audience engagement and our ongoing commitment to independent, values-driven journalism. Our strong relationships with distributors and advertisers, such as our recently announced multi-year agreement with Hulu + Live TV, our broadcasting agreement with the Dominican Republic's Supercanal and our distribution agreements with Cellcom Israel and Telecom Armenia, not only reinforce our position in key international markets but also ensure that our content reaches broader audiences across platforms." "Looking ahead to the rest of 2025, we are well-positioned to continue growing our viewership, securing transformative distribution agreements, expanding our extensive content offerings and bringing onboard quality talent to deliver trusted news to the American people." First Quarter 2025 Business and Operational Highlights The first quarter 2025 Nielsen report ranked Newsmax highly across a number of metrics: Newsmax hit a recent record 33.6 million viewers watching the network in the first quarter of 2025, up 50% from the same period last year. Newsmax was the fifth highest-rated network in all of cable TV for total day. Newsmax remained the fourth highest-rated cable news channel in the U.S., ranking second in engagement (length-of-tune) for all dayparts ages 35-64. Newsmax also broke records in Q1 2025, and for all of 2024, becoming No. 1 for all U.S. news networks (broadcast and cable) for per-follower social interaction rate on Facebook, X and Instagram. Newsmax signed a multi-year extension with veteran news anchor and broadcaster Greta Van Susteren to host "The Record with Greta Van Susteren." First Quarter 2025 Financial Highlights Newsmax reported total quarterly revenues of $45.3 million for the three-month period ended March 31, 2025, representing an 11.6% year-over-year increase. Advertising Revenues increased 13.5% year-over-year to $28.9 million driven by higher linear cable and satellite advertising due to higher Nielsen ratings which translated to higher rates. Affiliate Revenues increased 12.5% year-over-year to $7.4 million driven by new contractual relationships as well as rate increases that went into effect in 2025. Subscription Revenues increased 10.2% year-over-year to $7.0 million driven by an increase in Newsmax + subscribers. Product Sales Revenues increased 9.1% year-over-year to $1.6 million driven by the new book releases of its Humanix subsidiary, including titles "Pay Zero Taxes", "Turnaround" and "Plan Red", offset slightly by lower nutraceutical sales. Newsmax reported a quarterly Net Loss of $(17.2) million as compared to a Net Loss of $(50.7) million reported in the prior year quarter. While operating expenses increased this quarter, including regulatory, compliance and reporting costs associated with public company requirements, there were significant legal and settlement expenses in the prior year quarter related to the Smartmatic legal settlement. Quarterly Adjusted EBITDA was $(1.2) million, a decrease of $4.4 million, or 136.5%, from the amount reported in the prior year quarter, primarily due to an increase in cost of revenues and general and administrative costs associated with the continued expansion of the business, costs associated with becoming a public company and costs associated with coverage of the inauguration of President Donald J. Trump on January 20, 2025. The Company ended the quarter with $126.7 million in Cash and Cash Equivalents, an increase of 426.8% from $24.1 million in December 31, 2024. "We are pleased to report strong quarterly results, highlighted by increased viewer engagement across both linear and digital platforms, growth in advertising partnerships and the successful launch of new programming," commented Darryle Burnham, Chief Financial Officer. "With enhanced access to capital from our pre-IPO and IPO raises, we are well-positioned to sustain our momentum. As we execute on our financial and strategic priorities, we remain focused on delivering long-term value to our shareholders." 1 The Company compensates for limitations of the adjusted EBITDA measure by prominently disclosing GAAP net income (loss), which the Company believes is the most directly comparable GAAP measure, and providing investors with a reconciliation from GAAP net income (loss) to adjusted EBITDA on page 12. About Newsmax Newsmax Inc. is listed on the NYSE (NMAX) and operates, through Newsmax Broadcasting LLC, one of the nation's leading news outlets, the Newsmax channel. The fourth highest-rated network is carried on all major cable and satellite systems. Newsmax's media properties reach more than 40 million Americans regularly through Newsmax TV, the Newsmax App, its popular website and publications such as Newsmax Magazine. Through its social media accounts, Newsmax reaches 20 million combined followers. Reuters Institute says Newsmax is one of the top U.S. news brands and Forbes has called Newsmax "a news powerhouse." For more information, please visit Investor Relations | Newsmax Media, Inc. Investor Contacts Newsmax Investor Relationsir@ FORWARD-LOOKING STATEMENTS: This communication contains forward-looking statements. From time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements can be identified by those that are not historical in nature. The forward-looking statements discussed in this communication and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. The Company does not guarantee future results, performance or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. Forward-looking statements should not be relied upon as predictions of future events. We are under no duty to update any of these forward-looking statements after the date of this communication to conform our prior statements to actual results or revised expectations, and we do not intend to do so. Factors that may cause actual results to differ materially from current expectations include various factors beyond management's control, including but not limited to changes in domestic and global general economic and macro-economic conditions and the volatility of the price of Common Stock that may result from, among other things, comments by securities analysts or other third parties, including blogs, articles, message boards and social and other media, large shareholders exiting their position in our Common Stock, any negative public perception of us, sales of shares by Yorkville or other shares we previously registered for resale and/or uncertainties and factors set forth in the sections entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the twelve months ended December 31, 2024, the Company's Quarterly Report on Form 10-Q for the three months ended March 31, 2025, and other filings the Company makes with the Securities and Exchange Commission. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Undue reliance should not be placed on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. USE AND DEFINITION OF NON-GAAP FINANCIAL MEASURES This press release contains a financial measure that has not been prepared in accordance with United States Generally Accepted Accounting Principles ("U.S. GAAP"). This financial measure is Adjusted EBITDA. Non-GAAP financial measures are used to supplement the financial information presented on a U.S. GAAP basis and should not be considered in isolation or as a substitute for the relevant U.S. GAAP measures and should be read in conjunction with information presented on a U.S. GAAP basis. Because not all companies use identical calculations, our presentation of Non-GAAP measures may not be comparable to other similarly titled measures of other companies. Adjusted EBITDA1 is defined as revenues less cost of revenues and general and administrative expenses and does not include depreciation and amortization, interest expense, net, impairment charges, unrealized gains (losses) on marketable securities, other corporate matters (consisting primarily of certain litigation expenses, and related fees, for specific legal proceedings that the Company has determined are infrequent and unusual in terms of their magnitude), other, net, and income tax expense. NEWSMAX INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited) March 31,2025 December 31,2024 ASSETS Current assets: Cash and cash equivalents $ 126,718,693 $ 24,052,887 Investments 89,801,763 58,310,955 Accounts receivable, net 28,924,345 28,265,721 Inventories, net 1,883,028 1,792,697 Prepaid expenses and other current assets 4,790,037 5,868,534 Total current assets 252,117,866 118,290,794 Property and equipment, net 5,725,250 6,225,617 Right of use asset, operating lease 6,330,521 7,191,606 Other asset 13,489,980 13,755,420 Security deposits 543,699 609,426 Total assets $ 278,207,316 $ 146,072,863 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities Accounts payable $ 15,781,198 $ 14,670,846 Accrued expenses 13,191,197 9,882,720 Accrued payroll 2,889,593 2,220,872 Accrued distribution 1,097,223 1,068,366 Deferred revenue 13,376,709 13,652,699 Lease liability, operating lease 3,678,084 3,894,102 Lease liability, finance lease 194,831 199,237 Settlement liability 20,470,000 29,099,265 Warrant liability - 6,499,821 Derivative liability - 41,459,418 Total current liabilities 70,678,835 122,647,346 Long-term liabilities: Deferred revenue, net of current portion 2,992,697 2,835,218 Lease liability, operating lease, net of current portion 3,287,889 4,049,256 Lease liability finance lease, net of current portion 82,575 129,930 Settlement liability, net of current portion 23,784,963 25,477,941 Total liabilities 100,826,959 155,139,691 Commitments and contingencies (Note 11) Convertible and redeemable preferred stock, $0.001 par value; 11,034 shares authorized; and 0 and 5,575 shares issued and outstanding as of March 31, 2025 and December 31, 2024 - 128,576,901 Stockholders' equity (deficit) Convertible and redeemable preferred stock, $0.001 par value; 60,000 shares authorized; and 0 and 45,014 shares issued and outstanding as of March 31, 2025 and December 31, 2024 - 86,742,045 Class A common stock, $0.001 par value; 50,000,000 shares authorized; 39,239,297 shares issued and outstanding; Class B common stock, $0.001 par value; 940,000,000 shares authorized 88,943,084 shares issued and outstanding at March 31, 2025. Class A common stock, $0.001 par value; 20,000 Class A shares authorized; 68,127,538 Class A shares issued and outstanding at December 31, 2024; 60,000 Class B shares authorized; 0 Class B shares issued and outstanding at December 31, 2024 (1) 128,182 10 Treasury stock, 0 and 27,061,584 shares at cost, respectively - (14,622,222 ) Additional paid-in capital 422,430,811 18,056,702 Accumulated other comprehensive income (loss) 429,542 (52,849 ) Accumulated deficit (245,608,178 ) (227,767,415 ) Total stockholders' equity (deficit) 177,380,357 (137,643,729 ) Total liabilities, convertible and redeemable preferred stock and stockholders' equity (deficit) $ 278,207,316 $ 146,072,863 (1) On March 28, 2025, the Company announced a 6,765.396 for 1 stock split, effective March 31, 2025. This stock split is reflected retroactively in all periods presented for the common shares issued and outstanding. NEWSMAX INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ANDCOMPREHENSIVE INCOME (LOSS)(Unaudited) For the three months ended March 31, 2025 2024 Revenues: Service revenue $ 43,735,340 $ 39,163,377 Product revenue 1,566,367 1,436,268 Total revenues 45,301,707 40,599,645 Cost of services 22,443,522 19,112,737 Cost of products sold 1,191,106 1,191,280 Gross profit 21,667,079 20,295,628 General and administrative expenses: Personnel costs 10,218,359 7,182,377 Advertising costs 4,418,454 4,492,600 Professional fees 2,624,464 1,338,750 Rent and utilities 1,449,791 1,497,064 Depreciation 736,875 805,049 Other corporate matters 9,667,603 53,236,120 Other 4,124,313 2,587,012 Total general and administrative expenses 33,239,859 71,138,972 Loss from operations (11,572,780 ) (50,843,344 ) Other (expense) income, net Interest and dividend income 1,054,286 27,293 Interest expense (6,055 ) (25,785 ) Unrealized gain on marketable securities 1,585,580 163,346 Other, net (8,288,556 ) (3,225 ) Total other (expense) income, net (5,654,745 ) 161,629 Net loss before income taxes (17,227,525 ) (50,681,715 ) Income tax expense 5,000 1,972 Net loss $ (17,232,525 ) $ (50,683,687 ) Other comprehensive income: Unrealized gain on available for sale debt investments, net of income tax 482,391 - Comprehensive loss $ (16,750,134 ) $ (50,683,687 ) Weighted average common stock outstanding, basic and diluted (1) 44,895,546 41,065,954 Net loss per share attributable to common stockholders, basic and diluted (0.49 ) (1.27 ) (1) On March 28, 2025, the Company announced a 6,765.396 for 1 stock split, effective March 31, 2025. This stock split is reflected retroactively in all periods presented for the common shares issued and outstanding. NEWSMAX INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) For the three months ended March 31, 2025 2024 Cash flows from operating activities: Net loss $ (17,232,525 ) $ (50,683,687 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 1,540,440 1,569,239 Stock-based compensation 1,577,109 Change in fair value of warrant liability 1,824,179 - Change in fair value of derivative liability 6,104,230 - (Recovery of) provision for credit losses (118,266 ) (31,025 ) Unrealized gain on marketable securities (1,585,580 ) (163,346 ) Non-cash lease expense 889,411 848,007 Changes in operating assets and liabilities: (Increase) decrease in assets: Accounts receivable (540,358 ) (899,890 ) Inventory (90,331 ) 541,788 Prepaid expenses and other current assets (758,633 ) (704,998 ) Other asset (538,125 ) - Security deposits 65,727 (29,519 ) Increase (decrease) in liabilities: Accounts payable 577,173 (3,114,787 ) Accrued expenses 4,006,055 10,651,609 Lease liabilities (1,005,711 ) (820,112 ) Settlement liability (10,322,243 ) 40,000,000 Deferred revenue (118,511 ) (471,103 ) Net cash used in operating activities (15,725,959 ) (3,307,824 ) Cash flows from investing activities: Purchase of investments (36,672,837 ) - Proceeds from maturity of investments 7,250,000 - Sale of investments - 314,039 Purchase of property and equipment (73,077 ) (85,121 ) Net cash (used in) provided by investing activities (29,495,914 ) 228,919 Cash flows from financing activities: Proceeds from issuance of convertible preferred stock 87,073,000 - Payments of issuance costs on convertible preferred stock (6,330,778 ) - Proceeds from issuance of common stock IPO 74,250,000 - Payments of issuance costs on common stock IPO (6,780,143 ) - Payment of dividend (304,930 ) - Principal payment under finance lease obligation (19,470 ) (17,486 ) Net cash provided by (used in) financing activities 147,887,679 (17,486 ) Net change in cash 102,665,806 (3,096,391 ) Cash and cash equivalents - beginning 24,052,887 6,037,211 Cash and cash equivalents - ending $ 126,718,693 $ 2,940,820 Supplemental disclosures of cash flow information: Operating lease assets obtained in exchange for operating lease liabilities $ 28,391 $ - Interest paid $ 586 $ 9,795 Non-cash transactions: Property and equipment acquired through accounts payable: $ 195,722 $ 171,356 Non-cash financing activities: Common stock issuance costs reclassified from prepaid expenses $ (1,798,989 ) $ - Common stock issuance costs acquired through accounts payable $ (337,458 ) $ - Preferred stock cancellations to be refunded $ (115,000 ) $ - Accrued dividends payable $ 610,139 $ - IPO funds receivable in escrow $ 750,000 $ - NEWSMAX INC. AND SUBSIDIARIESADJUSTED EBITDA RECONCILIATION(Unaudited) For the three months ended March 31, 2025 2024 Net loss $ (17,232,525 ) $ (50,683,687 ) Add Depreciation 736,875 805,049 Interest, net (1,048,231 ) (1,508 ) Unrealized (gain) loss on marketable securities (1,585,580 ) (163,346 ) Other corporate matters 9,667,603 53,236,120 Other, net 8,288,556 3,225 Income tax expense 5,000 1,972 Adjusted EBITDA $ (1,168,302 ) $ 3,197,825 SOURCE: Newsmax Inc. View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-04-2025
- Business
- Yahoo
Newsmax Stock Surge Continues on Day 2 After IPO, Up Another 50%
Talk about a decent encore: Newsmax's stock price jumped another 50% higher on Tuesday morning, one day after the right-leaning media company saw its share price run from $10 to $83 during its Wall Street debut. The 50% increase in early-trading on Tuesday pushed Newsmax, which trades under the NMAX symbol on the New York Stock Exchange, to $126.15 per share. That surge also pushed Newsmax's valuation to $11.2 billion — making the company worth more than the New York Times, which has a market cap of $8.1 billion. Shares of Newsmax started trading for $14 per share on Monday morning — above its $10 IPO price — and quickly ran from there. The outlet's stock was halted six times in the first three hours of trading, as excited investors looked to grab shares of the Trump-friendly outlet. That momentum continued on Tuesday, clearly, with shares opening at about $126 before racing up past $190 about an hour into trading. Shares then cooled off a bit, with Newsmax's stock price dropping about $65 in the next half-hour. Newsmax is home to former Fox News host Greta Van Susteren, who hosts her show weekdays at 6:00 p.m. ET, as well as anchors Rob Schmitt and Rob Finnerty; Schmitt's weeknight show averaged 520,000 viewers in February, making it Newsmax's top-rated show for the month. He recently interviewed Elon Musk at CPAC. The media company, beyond its Newsmax channel, also runs its website, has a free streaming channel called Newsmax2 and also offers a subscription service, Newsmax+, for $4.99 per month. Newsmax was founded by CEO Chris Ruddy in 1998 and is based in Boca Raton, Florida. On its social platforms, Newsmax says it has about 20 million followers. Its sales jumped 26% to $171 million last year, although Newsmax still lost $72 million in 2024. Newsmax was looking to raise $75 million by selling 7.5 million Class B shares, Seeking Alpha reported; investors had to buy at least $500 worth of shares to meet its minimum requirement. Ruddy retains more than 80% of voting power following the IPO due to the dual-class share structure. The post Newsmax Stock Surge Continues on Day 2 After IPO, Up Another 50% appeared first on TheWrap.
