Trump Media & Technology Group Corp. (TMTG) reported Q2 2024 financial results, with revenue decreasing 30% year-over-year to $836,900. The company cited changes in revenue sharing agreements and early-stage advertising initiatives as factors. Operating loss widened to $18.7 million from $3.8 million in Q2 2023, driven by higher research and development, sales and marketing, and general and administrative expenses.TMTG ended the quarter with $344 million in cash, bolstered by $233 million from its business combination, $47.5 million from convertible notes, and $93.8 million from warrant exercises. The company is focused on growing its Truth Social platform, expanding product offerings including streaming technology, and pursuing strategic acquisitions. Management believes current cash reserves are sufficient to fund operations for the foreseeable future.CEO Devin Nunes emphasized TMTG's commitment to providing a platform for free expression. The company faces challenges including legal disputes, competition from established social media platforms, and economic uncertainties. TMTG's future growth depends on expanding its user base, attracting advertisers, and successfully launching new features and technologies.

Trump Media & Technology Group Corp. (TMTG) reported Q2 2024 financial results, with revenue decreasing 30% year-over-year to $836,900. The company cited changes in revenue sharing agreements and early-stage advertising initiatives as factors. Operating loss widened to $18.7 million from $3.8 million in Q2 2023, driven by higher research and development, sales and marketing, and general and administrative expenses.TMTG ended the quarter with $344 million in cash, bolstered by $233 million from its business combination, $47.5 million from convertible notes, and $93.8 million from warrant exercises. The company is focused on growing its Truth Social platform, expanding product offerings including streaming technology, and pursuing strategic acquisitions. Management believes current cash reserves are sufficient to fund operations for the foreseeable future.CEO Devin Nunes emphasized TMTG's commitment to providing a platform for free expression. The company faces challenges including legal disputes, competition from established social media platforms, and economic uncertainties. TMTG's future growth depends on expanding its user base, attracting advertisers, and successfully launching new features and technologies.