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Sep 30, 2024
TMTG Q3 2024 Earnings Report
TMTG reported Q3 2024 results, ending the quarter with $673 million in cash/investments and no debt. The company activated its proprietary TV content delivery network and released Truth+ TV streaming apps.
Key Takeaways
TMTG reported $1.0 million in revenue and a net loss of $19.2 million for the third quarter of 2024. The company's cash, cash equivalents, and short-term investments totaled $672.9 million with no debt. TMTG launched its Truth+ TV streaming platform and is exploring further growth avenues including mergers/acquisitions.
Ended Q3 with $672.9 million in cash/investments and no debt.
Activated proprietary TV content delivery network in multiple nodes across the nation.
Released Truth+ TV streaming apps for iOS, Android devices, and connected TV sets.
Exploring further growth avenues including mergers/acquisitions.
TMTG
TMTG
Forward Guidance
TMTG believes it has laid the foundation for Truth+ to become a major driver of long-term earnings and shareholder value, and for TMTG to robustly expand its ecosystem beyond the social media component of the Truth Social platform. With its strong balance sheet anchored by a robust cash balance and zero debt, the Company believes it has sufficient working capital to fund operations for the foreseeable future.
Positive Outlook
- Truth+ TV streaming platform is expected to become a major driver of long-term earnings and shareholder value.
- Company has a strong balance sheet with a robust cash balance and zero debt.
- Company believes it has sufficient working capital to fund operations for the foreseeable future.
- Expansion of the ecosystem beyond the social media component of the Truth Social platform.
- Exploring additional possibilities for growth such as potential mergers and acquisitions.
Challenges Ahead
- Forward-looking statements are subject to risks, uncertainties, and assumptions.
- Potential for actual results to differ materially from expectations.
- Inability to accurately predict future events.
- Lack of control over events that may occur in the future.
- Reliance on current expectations and projections about future events.