Newsmax (NMAX) Q1 2026 earnings summary

Executive summary

• Achieved quarterly revenues of $51.7 million, up 14% year-over-year, with broadcasting revenues rising 20.8% to $43.7 million and strong affiliate fee and licensing growth.

• Net loss narrowed to $2.2 million from $17.2 million in the prior year quarter, reflecting improved operating performance and lower legal expenses.

• Audience reach expanded to 30.4 million total viewers and 24.7 million social media followers, surpassing 25 million in May.

• Expanded internationally with new licensing agreements in Serbia and Poland, and launched Newsmax Polska.

• Continued investment in premium programming, OTT initiatives, and digital platforms, including Newsmax2 and Newsmax+.

Financial highlights

• Total revenue increased 14% year-over-year to $51.7 million in Q1 2026.

• Broadcast revenues rose 20.8% year-over-year to $43.7 million, driven by affiliate fee and licensing growth.

• Digital revenues declined 12.7% year-over-year to $8 million, mainly due to lower digital advertising and subscription revenue.

• Adjusted EBITDA was -$0.4 million, down $0.8 million year-over-year due to higher production and personnel costs.

• Cash and short-term investments totaled $129–$130 million at quarter end.

Outlook and guidance

• Reaffirmed full-year 2026 revenue guidance of $212–$216 million, representing 13% year-over-year growth at the midpoint.

• Growth expected to be structural, led by affiliate fee expansion, licensing growth, and digital monetization.

• Profitability expected to improve due to operating leverage and reduced non-recurring expenses.

• Management expects sufficient liquidity to meet operating and capital requirements for the next 12 months.