NMAX

MKT CAP:$559M

Newsmax, Inc.

Market Cap

$559M

Communication Services·Broadcasting·🇺🇸 United States·NYSE

Communication·Broadcasting·🇺🇸·NYSE

Stock Price

$6.95-$0.93 (-11.80%)

Apr 17, 2026

Company Details

Newsmax Inc., through its subsidiaries, operates as television broadcaster and multi-platform content publisher. It operates in two segments broadcasting and digital. The company produces and licenses news, business news, and lifestyle cont...

CEO

Christopher W. Ruddy

IPO Date

Mar 31, 2025

Website

invest.newsmax.com

Key Metrics TTM

Revenue

$189M

+21.5% YoY

Net Income

-$99M

EPS (Diluted)

-$1.12

Free Cash Flow

-$67M

Revenue / Share

$1.47

Gross Margin

37.9%

Operating Margin

-52.8%

Net Margin

-52.6%

FCF Margin

-35.5%

P/S

3.0x

P/E

—

Earnings Reports

Q1 2026

May 14, 2026

PENDING

Q4 2025

Mar 26, 2026

$52MEPS -$0.02

Q3 2025

Nov 13, 2025

$45MEPS -$0.03

Q2 2025

Aug 19, 2025

$46M+18.4%EPS -$0.58

Q1 2025

May 15, 2025

$45M+11.6%EPS -$0.49

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 23	$38M	$17M	-$3M
Q4 23	$38M	$17M	-$3M
Q1 24	$41M	$20M	-$51M
Q2 24	$39M	$17M	-$5M
Q1 25	$45M	$22M	-$12M
Q2 25	$46M	$18M	-$76M
Q3 25	$45M	$15M	-$7M
Q4 25	$52M	$17M	-$5M

Valuation

Quarter	P/S	P/E
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	68.8x	—
Q1 25	65.7x	—
Q2 25	11.3x	—
Q3 25	9.0x	—
Q4 25	5.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 23	$1M	$1M
Q4 23	$1M	$1M
Q1 24	-$3M	-$3M
Q2 24	-$4M	-$4M
Q1 25	-$16M	-$16M
Q2 25	-$23M	-$24M
Q3 25	-$28M	-$29M
Q4 25	$3M	$2M

Capital Expenditures

Quarter	CapEx
Q3 23	$202.1K
Q4 23	$202.1K
Q1 24	$85.1K
Q2 24	$122.4K
Q1 25	$73.1K
Q2 25	$616.4K
Q3 25	$1M
Q4 25	$867.5K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 25	+19.3%	+38.3%
Q2 25	+22.3%	+198.8%
Q3 25	+11.5%	-42.6%
Q4 25	+33.1%	+29.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q1 25	$2M	3.5%
Q2 25	$3M	7.4%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q3 23	$8M	$4M
Q4 23	$8M	$4M
Q1 24	$66M	$4M
Q2 24	$17M	$4M
Q1 25	$28M	$4M
Q2 25	$87M	$6M
Q3 25	$18M	$5M
Q4 25	$41M	$105M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 23	$6M	$1M	$7M
Q4 23	$6M	$1M	$7M
Q1 24	$0	$0	$0
Q2 24	$7M	$1M	$8M
Q3 24	$24M	$58M	$82M
Q4 24	$24M	$58M	$82M
Q1 25	$127M	$90M	$217M
Q2 25	$34M	$164M	$198M
Q3 25	$34M	$116M	$150M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 23	5M	—	—
Q4 23	4M	-10.4%	—
Q1 24	45M	+952.7%	—
Q2 24	45M	0.0%	—
Q1 25	45M	0.0%	+843.5%
Q2 25	128M	+185.8%	+2909.3%
Q3 25	128M	+0.1%	+186.2%
Q4 25	129M	+0.5%	+187.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q1 25	$113.3K	400
Q2 25	$116.1K	400
Q3 25	$113.2K	400
Q4 25	$104.4K	500

Revenue / Employee