Here are the 10-K annual reports from Newsmax, Inc. (NMAX) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow NMAX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NMAX filings page.
Newsmax Inc. reports 2025 revenue of $189.3 million, with $153.3 million from Broadcasting and $35.9 million from Digital, up from $41.8 million in 2020. The company completed a large Series B preferred private placement and a March 2025 IPO, raising significant new capital and listing Class B common stock on the NYSE under “NMAX.”
Newsmax operates a dual‑class share structure giving Class A ten votes per share and maintains a multi-platform conservative news and information business spanning cable TV, FAST/OTT streaming, radio, digital, print and nutraceutical/e‑commerce lines. Key growth drivers include expanding U.S. and international carriage, Newsmax+ streaming subscriptions, and a sizable opt‑in digital audience.
The filing highlights substantial risks: prior losses and uncertain future profitability, heavy dependence on advertising and MVPD distributors, accelerating cord‑cutting, intense competition from major news brands and digital platforms, evolving privacy and data rules, cybersecurity threats, international content licensing and piracy challenges, material weaknesses in internal control over financial reporting, dual‑class and controlled‑company governance, stock price volatility, and the speculative nature of investing in its securities.