Newsmax Announces Third Quarter 2026 Financial Results
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Newsmax (NYSE:NMAX) reported third-quarter 2026 revenue of $69.0 million, up 52.5% year over year, including a non-recurring termination payment.
The $14.0 million payment related to a customer's advertising purchase agreement. Excluding it, revenue rose 21.6% to $55.0 million. Net income reached $15.2 million, or $0.12 per share, versus a $4.1 million loss, or $0.03 per share, a year earlier. Adjusted EBITDA, a non-GAAP earnings measure excluding specified expenses and other items, was $19.0 million, or $5.0 million excluding the payment.
Broadcasting revenue rose 65.9% to $60.7 million; digital revenue fell 4.1% to $8.3 million. Quarter-end cash and short-term investments totaled $137.6 million. Newsmax maintained underlying 2026 revenue guidance of $212 million to $216 million, representing 13% growth at the midpoint; including the payment, guidance is $226 million to $230 million.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointThird-quarter revenue rose 52.5% year over year to $69.0 million; excluding the non-recurring payment, growth was 21.6%.
- Moderate pointThird-quarter net income reached $15.2 million, or $0.12 per share, versus a $4.1 million loss.
- Moderate pointAdjusted EBITDA reached $19.0 million versus negative $0.9 million; excluding the one-time payment, it was $5.0 million.
- Moderate pointBroadcasting revenue rose 65.9% to $60.7 million; excluding the payment, it rose 27.6% to $46.7 million.
- Moderate pointThird-quarter gross profit increased to $38,207,425 from $15,960,736 a year earlier.
- Moderate pointThird-quarter operating income reached $14,286,566 versus a $7,198,559 operating loss a year earlier.
- Moderate point. Forward-looking: it has not happened yet and may not happen.2026 underlying revenue guidance remains $212 million to $216 million, representing 13% year-over-year growth at the midpoint.
11 minor points
- Minor pointBroadcasting affiliate fees rose 77.4% year over year to $14.3 million.
- Minor pointBroadcasting licensing revenue rose 291.0% year over year to $4.7 million.
- Minor pointBroadcasting advertising revenue rose 3.1% year over year to $24.3 million.
- Minor pointDigital licensing revenue reached $0.6 million versus none a year earlier.
- Minor pointNine-month revenue reached $174,806,727 versus $137,014,147 in 2025.
- Minor pointNine-month net income reached $15,908,719 versus a $96,523,552 loss in 2025.
- Minor pointCash and short-term investments totaled $137.6 million at September 30, 2026; Newsmax reported no debt.
- Minor point. Forward-looking: it has not happened yet and may not happen.2026 international licensing revenue remains on track to increase 344% year over year to approximately $16 million.
- Minor pointSocial media followers grew 13% year over year to 26.8 million at September 30, 2026.
- Minor pointAdditional carriage agreements with independent cable operators broadened Newsmax's availability.
- Minor point. Forward-looking: it has not happened yet and may not happen.Content and distribution investment remains planned, including programming, talent and streaming initiatives.
Negative
- Moderate point$14.0 million termination payment included in third-quarter revenue was non-recurring. 1.4% of market cap
- Minor pointDigital revenue declined 4.1% year over year to $8.3 million.
- Minor pointBroadcasting subscription revenue declined 9.4% year over year to $3.4 million.
- Minor pointDigital subscription revenue declined 15.1% year over year to $2.7 million.
- Minor pointDigital advertising revenue declined 4.6% year over year to $3.8 million.
5 minor points
- Minor pointDigital product sales declined 21.2% year over year to $1.2 million.
- Minor pointThird-quarter cost of services increased to $30,026,692 from $28,357,890 a year earlier.
- Minor pointThird-quarter general and administrative expenses increased to $23,920,859 from $23,159,295 a year earlier.
- Minor pointThird-quarter interest and dividend income fell to $1,300,550 from $2,203,611 a year earlier.
- Minor pointThird-quarter unrealized securities and crypto result was a $133,956 loss versus a $957,795 gain.
Details
Market Reaction – NMAX
On Nov 12, the day this news came out, the latest delayed price for NMAX is 8.25% above the previous close. Argus tracked a peak move of +6.0% during the session. Our momentum scanner has recorded 32 alerts for this stock so far that day. The latest delayed price is $7.90.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
BOCA RATON, FL / ACCESS Newswire / November 12, 2026 / Newsmax Inc. (NYSE:NMAX) ("Newsmax" or the "Company") today announced its financial results for the third quarter ended September 30, 2026.
Third Quarter 2026 Business and Operational Highlights
- Delivered third quarter audience reach of 22.5 million total viewers, including 9.1 million Adults 35-64, reinforcing Newsmax's position as the fourth highest-rated cable news channel and #2 in cable news audience engagement among Adults 35-64.
- Grew total social media followers
13% year-over-year to 26.8 million as of September 30, 2026, further strengthening the Company's multi-platform audience ecosystem.
- Broadened the availability of Newsmax with the launch on AFN Now, the streaming service of the American Forces Network, and additional carriage agreements with independent cable operators, while the Newsmax+ library grew to more than 700 licensed and original documentaries and specials.
- Advanced previously signed international brand license agreements toward launch, with Newsmax Ukraine going live on November 1, 2026 and Newsmax en Español expanding its streaming distribution in the United States, while 2026 international licensing revenues remain on track to increase
344% year-over-year to approximately$16 million , strengthening the Newsmax brand, which is available in more than 100 countries worldwide.
Management Commentary
"The third quarter was the strongest in our history as a public company. Setting aside the one-time revenue item, we delivered our fastest revenue growth since our listing and a second consecutive profitable quarter," said Christopher Ruddy, Chief Executive Officer of Newsmax. "Engagement rose through the midterm campaign and that is an early indicator of what is ahead. We have positioned Newsmax on all platforms for all people, from cable and free streaming to Newsmax+, social and now AI, heading into what we expect to be the largest presidential cycle on record."
Ruddy continued, "We are using this period to invest in programming, talent and content, while our affiliate agreements come up for renewal and our licensing partners carry the Newsmax brand into new markets in a capital-efficient way. The center-right audience remains under-served, with very few true alternatives, and we remain focused on delivering independent journalism and sustainable, long-term growth for our shareholders."
"Our third quarter results reflect the operating leverage we are building across the business, with affiliate and licensing growth continuing to shift our revenue mix toward our highest-margin streams. Excluding the one-time revenue item, revenue grew
Financial Results:
Revenue by Segment by Component Table (unaudited):
($ in millions) | Three Months Ended September 30, | |||||||||||||||
| 2026 | 2025 | $ Change | % Change | |||||||||||||
Broadcasting | ||||||||||||||||
Advertising | $ | 24.3 | $ | 23.6 | $ | 0.7 | 3.1 | % | ||||||||
Affiliate fee | 14.3 | 8.1 | 6.2 | 77.4 | % | |||||||||||
Service revenue termination fee | 14.0 | - | 14.0 | 100.0 | % | |||||||||||
Subscription | 3.4 | 3.8 | (0.4 | ) | (9.4 | )% | ||||||||||
Licensing | 4.7 | 1.2 | 3.5 | 291.0 | % | |||||||||||
Total Broadcasting revenues | $ | 60.7 | $ | 36.6 | $ | 24.1 | 65.9 | % | ||||||||
Digital | ||||||||||||||||
Advertising | $ | 3.8 | $ | 4.0 | $ | (0.2 | ) | (4.6 | )% | |||||||
Subscription | 2.7 | 3.1 | (0.5 | ) | (15.1 | )% | ||||||||||
Product sales | 1.2 | 1.5 | (0.3 | ) | (21.2 | )% | ||||||||||
Licensing | $ | 0.6 | $ | - | 0.6 | 100.0 | % | |||||||||
Total Digital revenues | $ | 8.3 | $ | 8.7 | $ | (0.4 | ) | (4.1 | )% | |||||||
Total Revenues | $ | 69.0 | $ | 45.3 | $ | 23.8 | 52.5 | % | ||||||||
Third Quarter 2026 Financial Highlights:
- Newsmax reported total quarterly revenues of
$69.0 million for the three-month period ended September 30, 2026, representing a52.5% year-over-year increase. Total revenues include$14.0 million recognized in connection with a non-recurring service revenue termination payment of an advertising purchase agreement with a customer. Excluding this one-time revenue item, total revenues were a record$55.0 million , a21.6% year-over-year increase and the highest quarterly revenues in the Company's history, and advertising revenues were$28.1 million .
- Total broadcasting revenues grew
65.9% year-over-year to$60.7 million for the third quarter of 2026, or27.6% to$46.7 million excluding the$14.0 million non-recurring revenue item. This was driven by growth in affiliate fee revenue, attributed to new contractual relationships and rate increases that took effect in late 2025 and 2026, and expanded international licensing agreements, with broadcasting advertising revenue up3.1% year-over-year.
- Newsmax reported quarterly net income of
$15.2 million , or$0.12 per share, as compared to a net loss of$(4.1) million , or$(0.03) per share, reported in the same quarter in the prior year. The improvement was primarily driven by higher total revenue, growth in high-margin affiliate fee and licensing revenue and lower legal expenses, partially offset by continued investment in programming and production.
- Quarterly Adjusted EBITDA was
$19.0 million , an improvement of$20.0 million from$(0.9) million reported in the same quarter last year, primarily due to the$14.0 million one-time revenue item, growth in high-margin affiliate fee and licensing revenue and lower general and administrative expenses, partially offset by continued investment in programming, production and OTT initiatives. Excluding the one-time revenue item, Adjusted EBITDA was$5.0 million . See reconciliation of net income (loss) to Adjusted EBITDA below.
- The Company ended the quarter with
$137.6 million in cash and short-term investments. Cash and cash equivalents were$26.7 million and short-term investments were$110.8 million .
The Company is maintaining its underlying full-year 2026 revenue guidance of
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 pay TV providers. Newsmax's media properties reach more than 50 million Americans regularly through Newsmax TV, the Newsmax App, its popular website Newsmax.com, and publications such as Newsmax Magazine. Through its social media accounts, Newsmax reaches over 26 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 ir.newsmax.com.
Investor Contacts
Newsmax Investor Relations
ir@newsmax.com
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 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 previously registered for resale, or other uncertainties and 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, 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.
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 EBITDA[1] is defined as revenues less cost of revenues and general and administrative expenses and does not include depreciation, amortization related to the incremental costs to obtain a contract, interest expense, net, impairment charges, unrealized gains (losses) on marketable securities and crypto assets, stock-based compensation, 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.
You are encouraged to evaluate each adjustment used in calculating our non-GAAP financial measure and the reasons we consider our non-GAAP financial measure appropriate for supplemental analysis. In evaluating our non-GAAP financial measure, you should be aware that in the future we may incur expenses similar to the adjustments in our presentation. Our non-GAAP financial measure has limitations as an analytical tool, and you should not consider this measure in isolation or as a substitute for analysis of our results as reported under GAAP. Our presentation of our non-GAAP financial measure should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. Our non-GAAP financial measure may not be comparable to other companies. Please see a historical reconciliation of this measure to the most comparable GAAP measure presented in our consolidated financial statements below.
[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.
NEWSMAX INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
| September 30, 2026 | December 31, 2025 | |||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 26,729,234 | $ | 20,433,021 | ||||
Funds held in escrow | 20,000,000 | 20,000,000 | ||||||
Investments | 110,823,331 | 110,516,544 | ||||||
Accounts receivable, net | 46,367,556 | 33,414,435 | ||||||
Inventories, net | 1,933,613 | 2,027,168 | ||||||
Prepaid expenses and other current assets | 10,420,529 | 9,069,639 | ||||||
Total current assets | 216,274,263 | 195,460,807 | ||||||
Property and equipment, net | 6,811,147 | 6,264,885 | ||||||
Right of use assets | 10,294,205 | 8,823,716 | ||||||
Other assets | 9,266,530 | 9,293,670 | ||||||
Funds held in escrow | - | 20,000,000 | ||||||
Total assets | $ | 242,646,145 | $ | 239,843,078 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
Current liabilities | ||||||||
Accounts payable | $ | 15,044,550 | $ | 16,770,777 | ||||
Accrued expenses | 17,510,249 | 14,894,949 | ||||||
Deferred revenue | 10,121,677 | 12,599,119 | ||||||
Lease liability | 4,229,349 | 4,062,971 | ||||||
Settlement liability | 27,990,196 | 26,487,028 | ||||||
Share repurchase liability | - | 6,461,320 | ||||||
Total current liabilities | 74,896,021 | 81,276,164 | ||||||
Long-term liabilities: | ||||||||
Deferred revenue, net of current portion | 2,643,395 | 3,148,945 | ||||||
Lease liability, net of current portion | 6,323,891 | 5,292,095 | ||||||
Other long-term liabilities | 3,404,167 | 925,000 | ||||||
Settlement liability, net of current portion | 17,241,332 | 43,152,322 | ||||||
Total liabilities | 104,508,806 | 133,794,526 | ||||||
Stockholders' equity | ||||||||
Class A common stock, 0.001 par value; 50,000,000 shares authorized; 39,239,297 shares issued and outstanding at par as of September 30, 2026 and December 31, 2025; Class B common stock, 0.001 par value; 940,000,000 shares authorized 89,960,222 and 89,889,822 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively. | 129,200 | 129,129 | ||||||
Additional paid-in capital | 450,129,939 | 433,325,830 | ||||||
Accumulated other comprehensive (loss) income | (159,745 | ) | 464,365 | |||||
Accumulated deficit | (311,962,055 | ) | (327,870,772 | ) | ||||
Total stockholders' equity | 138,137,339 | 106,048,552 | ||||||
Total liabilities and stockholders' equity | $ | 242,646,145 | $ | 239,843,078 | ||||
NEWSMAX INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(Unaudited)
| For the three months ended | For the nine months ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
Revenues: | ||||||||||||||||
Service revenue | $ | 53,813,416 | $ | 43,724,758 | $ | 157,012,643 | $ | 132,344,306 | ||||||||
Product revenue | 1,219,334 | 1,547,938 | 3,794,084 | 4,669,841 | ||||||||||||
Service revenue termination fee | 14,000,000 | - | 14,000,000 | - | ||||||||||||
Total revenues | 69,032,750 | 45,272,696 | 174,806,727 | 137,014,147 | ||||||||||||
Cost of services | 30,026,692 | 28,357,890 | 90,794,185 | 80,765,038 | ||||||||||||
Cost of products sold | 798,633 | 954,070 | 2,542,684 | 3,184,474 | ||||||||||||
Gross profit | 38,207,425 | 15,960,736 | 81,469,858 | 53,064,635 | ||||||||||||
General and administrative expenses: | ||||||||||||||||
Personnel costs | 8,300,689 | 8,202,407 | 26,223,318 | 24,830,586 | ||||||||||||
Advertising costs | 5,705,703 | 4,613,034 | 14,995,916 | 14,972,904 | ||||||||||||
Depreciation | 516,339 | 690,320 | 1,608,301 | 2,161,785 | ||||||||||||
Other corporate matters | - | 1,192,312 | - | 79,297,013 | ||||||||||||
Other | 9,398,128 | 8,461,222 | 27,519,896 | 26,979,135 | ||||||||||||
Total general and administrative expenses | 23,920,859 | 23,159,295 | 70,347,431 | 148,241,423 | ||||||||||||
Income (loss) from operations | 14,286,566 | (7,198,559 | ) | 11,122,427 | (95,176,788 | ) | ||||||||||
Other income (expense), net: | ||||||||||||||||
Interest and dividend income | 1,300,550 | 2,203,611 | 3,954,691 | 5,059,952 | ||||||||||||
Interest expense | (679 | ) | (5,455 | ) | (5,292 | ) | (18,966 | ) | ||||||||
Realized gain on marketable securities | - | - | 327,476 | - | ||||||||||||
Unrealized (loss) gain on marketable securities and crypto assets | (133,956 | ) | 957,795 | 1,116,921 | 2,042,639 | |||||||||||
Other, net | (115,323 | ) | (17,061 | ) | (499,980 | ) | (8,359,960 | ) | ||||||||
Total other income (expense), net | 1,050,592 | 3,138,889 | 4,893,816 | (1,276,335 | ) | |||||||||||
Net income (loss) before income taxes | 15,337,158 | (4,059,670 | ) | 16,016,243 | (96,453,123 | ) | ||||||||||
Income tax expense | 107,524 | 55,736 | 107,524 | 70,429 | ||||||||||||
Net income (loss) | $ | 15,229,634 | $ | (4,115,408 | ) | $ | 15,908,719 | $ | (96,523,552 | ) | ||||||
Other comprehensive income: | ||||||||||||||||
Unrealized (loss) gain on available for sale debt investments, net of income tax | (254,292 | ) | (65,595 | ) | (624,110 | ) | 863,574 | |||||||||
Comprehensive income (loss) | $ | 14,975,342 | $ | (4,181,001 | ) | $ | 15,284,609 | $ | (95,659,978 | ) | ||||||
Weighted average common stock outstanding | ||||||||||||||||
Basic | 128,559,610 | 128,480,258 | 128,505,707 | 100,938,896 | ||||||||||||
Diluted | 129,225,561 | 128,480,258 | 128,761,449 | 100,938,896 | ||||||||||||
Net income (loss) per share attributable to common stockholders | ||||||||||||||||
Basic | $ | 0.12 | $ | (0.03 | ) | $ | 0.12 | $ | (1.00 | ) | ||||||
Diluted | $ | 0.12 | $ | (0.03 | ) | $ | 0.12 | $ | (1.00 | ) | ||||||
NEWSMAX INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30,
(Unaudited)
| 2026 | 2025 | |||||||
Cash flows from operating activities: | ||||||||
Net income (loss) | $ | 15,908,719 | $ | (96,523,552 | ) | |||
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||||||||
Depreciation and amortization | 4,569,814 | 4,614,605 | ||||||
Stock-based compensation | 9,900,076 | 8,542,133 | ||||||
Change in fair value of warrant liability | - | 1,824,179 | ||||||
Change in fair value of derivative liability | - | 6,104,230 | ||||||
Provision for (recovery of) credit losses | 654,074 | (67,024 | ) | |||||
Realized gain on marketable securities | (327,476 | ) | - | |||||
Unrealized gain on marketable securities and crypto assets | (1,116,921 | ) | (2,042,639 | ) | ||||
Lease expense | 2,855,220 | 2,575,226 | ||||||
Loss on disposal of website development costs | 506,450 | - | ||||||
Non-cash expense related to SEPA Agreement | - | 500,000 | ||||||
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | (13,607,195 | ) | (2,290,672 | ) | ||||
Inventory | 93,555 | (5,603 | ) | |||||
Prepaid expenses and other current assets | (1,335,214 | ) | (2,470,684 | ) | ||||
Escrow funds released (funded) | 20,000,000 | (40,000,000 | ) | |||||
Other assets | (2,934,373 | ) | (1,140,976 | ) | ||||
Accounts payable | (2,073,479 | ) | 452,333 | |||||
Accrued expenses | 2,615,300 | 1,027,384 | ||||||
Lease liabilities | (3,127,535 | ) | (2,826,909 | ) | ||||
Settlement liability | (24,407,822 | ) | 16,490,644 | |||||
Other long-term liabilities | 2,479,167 | 937,500 | ||||||
Deferred revenue | (2,982,992 | ) | (2,782,192 | ) | ||||
Net cash provided by (used in) operating activities | 7,669,369 | (107,082,019 | ) | |||||
Cash flows from investing activities: | ||||||||
Purchase of investments | (11,576,287 | ) | (132,569,436 | ) | ||||
Proceeds from maturity of investments | 9,735,553 | 28,250,000 | ||||||
Sale of investments | 2,338,557 | 49,361,533 | ||||||
Purchase of property and equipment | (2,203,448 | ) | (1,782,997 | ) | ||||
Net cash used in investing activities | (1,705,624 | ) | (56,740,900 | ) | ||||
Cash flows from financing activities: | ||||||||
Proceeds from issuance of convertible preferred stock, net | - | 80,742,222 | ||||||
Proceeds from issuance of common stock IPO, net | - | 66,359,453 | ||||||
Proceeds from exercise of stock options | 442,784 | 7,829,631 | ||||||
Proceeds from additional stock issuance | - | 88,500 | ||||||
Payment of dividend | - | (915,067 | ) | |||||
Principal payment under finance lease obligation | (110,316 | ) | (153,132 | ) | ||||
Net cash provided by financing activities | 332,468 | 153,951,608 | ||||||
Net change in cash | 6,296,213 | (9,871,309 | ) | |||||
Cash and cash equivalents - beginning | 20,433,021 | 24,052,887 | ||||||
Cash and cash equivalents - ending | $ | 26,729,234 | $ | 14,181,578 | ||||
NEWSMAX INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30,
(Unaudited)
| 2026 | 2025 | |||||||
Supplemental disclosures of cash flow information: | ||||||||
Operating lease assets obtained in exchange for operating lease liabilities | $ | 4,102,295 | $ | 28,391 | ||||
Interest paid | $ | - | $ | 1,829 | ||||
Non-cash investing and financing transactions: | ||||||||
Property and equipment acquired through accounts payable: | $ | 347,252 | $ | 721,250 | ||||
Vesting of early exercise of stock options | $ | 6,451,264 | $ | - | ||||
Common stock issuance costs reclassified from prepaid expenses | $ | - | $ | (1,798,989 | ) | |||
Issuance of warrants in connection with the issuance of convertible stock | $ | - | $ | 1,144,976 | ||||
IPO funds receivable in escrow | $ | - | $ | 34,500 | ||||
NEWSMAX INC.
NON-GAAP ADJUSTED EBITDA RECONCILIATION
FOR THE THREE MONTHS ENDED SEPTEMBER 30,
(Unaudited)
| 2026 | 2025 | |||||||
Net income (loss) | $ | 15,229,634 | $ | (4,115,406 | ) | |||
Add | ||||||||
Depreciation | 516,339 | 690,320 | ||||||
Amortization | 1,001,774 | 835,159 | ||||||
Interest, net | (1,299,871 | ) | (2,198,156 | ) | ||||
Unrealized (loss) gain on marketable securities and crypto assets | 133,956 | (957,795 | ) | |||||
Stock-based compensation | 3,225,875 | 3,547,340 | ||||||
Other corporate matters[2] | - | 1,192,312 | ||||||
Other, net[3] | 115,323 | 17,061 | ||||||
Income tax expense | 107,524 | 55,736 | ||||||
Adjusted EBITDA[4] | $ | 19,030,554 | $ | (933,429 | ) | |||
[2] Comprised of certain litigation expenses, and related fees, for specific legal proceedings that we have determined are infrequent and unusual in terms of their magnitude.
[3] Comprised of miscellaneous items such as derivative adjustments, income tax credits, and unrealized gains on securities and crypto assets.
[4] For a discussion of Adjusted EBITDA, see "Use and Definition of Non-GAAP Financial Measures".
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