Every 10-Q that Newsmax, Inc. (NMAX) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, 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. reported stronger operating results for the quarter ended June 30, 2026. Total revenues were $54.1 million, up 16.5% year over year, driven primarily by a sharp increase in affiliate fees and licensing, which more than offset lower advertising, subscription and product revenues.
Gross profit rose to $23.3 million, lifting gross margin to 43.1%. General and administrative expense fell sharply versus the prior-year quarter, which had unusually high litigation-related costs, resulting in net income of $2.9 million compared with a large loss a year earlier. For the first half of 2026, revenues grew 15.3% to $105.8 million and net income was $0.7 million.
Broadcasting remained the core engine, with segment revenues of $45.8 million and Segment Adjusted EBITDA of $8.1 million. Digital continued to post a Segment Adjusted EBITDA loss, though that loss narrowed. Cash and cash equivalents were $25.9 million and investments $102.4 million. The company still has significant settlement obligations, including $20.0 million remaining on the Dominion settlement, fully escrowed, and additional settlement payments totaling $27.0 million. Management disclosed ongoing material weaknesses in internal control over financial reporting and is executing a remediation plan.
Newsmax Inc. reported higher revenue but a much smaller loss for the quarter ended March 31, 2026. Total revenues rose 14% to $51.7 million, driven mainly by a 75.2% jump in affiliate fees to $13.0 million and a sharp increase in licensing revenue to $3.5 million. Net loss narrowed to $2.2 million from $17.2 million a year earlier, helped by lower legal and IPO-related costs and higher interest income, though gross margin slipped as production and content spending grew. Broadcasting revenues increased 20.8% and segment adjusted EBITDA improved, while Digital revenues declined 12.7% and remained loss-making. The company ended the quarter with $17.2 million in cash and $111.9 million in investments and maintains a fully funded $20.0 million escrow for the remaining Dominion settlement installment due on or before January 15, 2027. Management again identified material weaknesses in internal controls and is implementing remediation measures.
Newsmax Inc. reported Q3 2025 revenue of $45,272,696, up modestly year over year, and a quarterly net loss of $4,115,406. For the nine months ended September 30, 2025, revenue reached $137,014,147 while net loss widened to $96,523,552. Gross profit declined as cost of services increased, and operating expenses reflected higher personnel, advertising, and professional fees.
The balance sheet strengthened after the IPO and recapitalization: total assets were $233,331,108, investments rose to $116,175,071, and stockholders’ equity turned positive at $105,961,062 from a prior deficit. Derivative and warrant liabilities present at year-end were eliminated. The company holds $40,000,000 in escrow tied to a settlement, scheduled for two releases of $20,000,000 on or before January 15, 2026 and January 15, 2027. As of November 10, 2025, shares outstanding were 39,239,297 Class A and 89,889,822 Class B. Segment results showed Broadcasting growth offset by softness in Digital, with Broadcasting revenues at $36,609,048 and Digital at $8,663,648 in Q3.
Newsmax Inc. completed a private placement and IPO in early 2025, raising net proceeds of $206.7 million from a private placement (closed Feb 27, 2025) and $66.08 million from its March 28, 2025 IPO, and listed on the NYSE as NMAX. The company restructured capital, converting multiple preferred series into Class A and Class B common stock and adopted a dual-class structure. Operations are reported in two segments: Broadcast (linear cable, OTT/FAST, affiliate and subscription revenue) and Digital (online advertising, subscriptions, e-commerce). For six months ended June 30, 2025, gross profit rose modestly while gross margin declined; G&A increased materially, driven in part by legal settlements including a $40 million Smartmatic settlement (paid) and a $67 million Dominion settlement payable through 2027. Management disclosed immaterial prior-period classification errors that were corrected and identified material weaknesses in internal control over financial reporting. Liquidity sources include cash from the offerings and a $1.2 billion SEPA with Yorkville (no draws yet).