Newsmax, Inc.
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About the company
Newsmax Inc. is a holding company, which engages in television broadcasting and multi-platform content publishing that produces original news and editorial content for consumers through various media outlets, including TV new channels, digital and print publications. It operates through the Broadcasting and Digital Segments.
- CEO
- Christopher W. Ruddy
- IPO
- 2025
- Employees
- 500
- HQ
- Boca Raton, FL, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $978.34M
- P/E
- -210.79
- Fwd P/E
- 60.44
- PEG
- -0.59
- P/S
- 4.84
- P/B
- 0.00
- EV/EBITDA
- 8686825.45
- Div Yield
- 0.00%
- Gross Margin
- 39.02%
- Op Margin
- -7.40%
- Net Margin
- -3.15%
- ROE
- -0.00%
- ROIC
- -0.00%
Latest fiscal year · YoY change
- Revenue
- $189.30M+10.7%
- Gross Profit
- $71.63M-14.8%
- Op Income
- $-99,854,569
- Net Income
- $-99,495,119-37.9%
- EPS
- $-0.81-30.6%
- OCF Growth
- -32.4%
- FCF Growth
- -35.1%
- 52W High
- $15.94
- 52W Low
- $5.11
- 50D MA
- $8.41
- 200D MA
- $7.62
- Beta
- 2.55
- RSI (14)
- 68
- Avg Volume
- 1.28M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Newsmax delivered record Q2 revenue, turned profitable as a public company for the first time, and raised confidence in affiliate, licensing, and AI-driven growth.· August 13, 2026
- Revenue hit a record $54.1 million, up 16.5% year over year, and net income was $2.9 million versus a $75.2 million loss last year.
- Gross margin expanded to 43.1% from 38%, helped by a bigger mix of affiliate fees and licensing plus fewer public-company/legal costs.
- Broadcast revenue rose 20.5% to $45.8 million, while affiliate revenue surged 81.9% to $13.4 million and licensing revenue jumped to $4.6 million from $0.7 million.
- Management reaffirmed full-year 2026 revenue guidance of $212 million to $216 million and said the operating profile should improve versus 2025.
- The company highlighted a stronger balance sheet with $128.3 million in cash and investments and no debt, plus new opportunities in international licensing and AI partnerships.
Second-quarter 2026 revenue was $54.1 million, up 16.5% year over year. Gross margin was 43.1%, compared with 38% in the prior-year quarter. Net income was $2.9 million, or $0.02 per share, versus a net loss of $75.2 million a year ago; adjusted EBITDA was $5.7 million versus negative $3.8 million last year. Broadcast revenue increased 20.5% to $45.8 million, digital revenue was $8.3 million, advertising revenue was $28.8 million, affiliate revenue was $13.4 million, subscription revenue was $6.3 million, product sales were $1.1 million, and licensing revenue was $4.6 million. The company ended the quarter with $25.9 million in cash and cash equivalents, $102.4 million in short-term investments, $128.3 million total cash and investments, and no debt. Management reiterated full-year 2026 revenue guidance of $212 million to $216 million, implying 13% growth at the midpoint, and said full-year operating performance should improve versus 2025.
Chris Ruddy framed the quarter as validation of Newsmax’s multi-platform strategy, saying the company did what it said it would do and more. He emphasized that profitability was helped by the end of one-time public-company and legal costs, but stressed that the business remains in strategic investment mode. He highlighted audience growth, social media expansion, international licensing, and the Meta AI partnership as signs that Newsmax can keep extending its reach across cable, streaming, digital, and global markets.
Darryle Burnham said the quarter benefited from a richer revenue mix, with affiliate fees and licensing lifting gross margin to 43.1% from 38%. He pointed to improved operating efficiency, lower general and administrative expenses, and the absence of prior-year legal settlement costs as key drivers of the swing to $2.9 million in net income and $5.7 million in adjusted EBITDA. He also noted the company’s capital allocation priorities remain focused on programming, talent, technology, distribution, digital initiatives, and other strategic opportunities, supported by $128.3 million in cash and investments and no debt.
Analysts focused on how much room there is to close the affiliate-fee gap versus peers, and management said renewals and stronger ratings are the main levers, but they would not disclose the percentage of fees up for renewal. On licensing, management said the $16 million 2026 target is based on agreements already in place, called it stable, and said the $25 million annualized run rate for next year provides a reference point without offering further 2027 guidance. Questions on the Meta deal and AI monetization drew a response that the agreement is multiyear, economics were not disclosed, and Newsmax is in talks with other AI companies while viewing AI as a potentially meaningful supplemental revenue stream.
The call showed real operating momentum: record revenue, first quarterly profit as a public company, expanding margins, and a much stronger balance sheet. Management also sounded optimistic about structural growth from affiliate renewals, international licensing, and AI partnerships, with the Meta deal positioned as only the beginning.
Broadcast ad revenue still declined 3.5% year over year, digital revenue fell 1.3%, subscription revenue dropped 9.9%, and product sales were down 31.7%, showing not every line is growing. Management also acknowledged it is not disclosing affiliate renewal exposure, is still building the subscription business, and is not providing detailed AI revenue guidance, so some of the growth narrative remains dependent on execution and future contract wins.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 34.4%
- Shares Outstanding
- 89.92M
- Float Shares
- 30.94M
of shares held by institutions
225 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Greenwich Wealth Management LLC | 22.80M | 0 |
| Blackrock, Inc. | 2.82M | ▲ 290.46K |
| Vanguard Capital Management LLC | 1.46M | ▲ 1.46M |
| Aqr Capital Management LLC | 1.34M | ▲ 910.27K |
| State Street Corp | 775.36K | ▲ 97.06K |
| Geode Capital Management, LLC | 640.10K | ▲ 53.16K |
| Goldman Sachs Group Inc | 549.23K | ▼ 449.34K |
| Hrt Financial LP | 394.75K | ▲ 394.75K |
| Citadel Advisors LLC | 365.83K | ▲ 201.48K |
| Millennium Management LLC | 306.91K | ▲ 306.91K |
| Vanguard Group Inc | 286.83K | ▲ 222.25K |
| Northern Trust Corp | 286.32K | ▲ 34.72K |
Held by 83 ETFs
Biggest fund positions in NMAX by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| May 20, 26 | Cox Christopher Nixon | other | 23,940 |
| May 20, 26 | Gandler David | other | 23,940 |
| May 20, 26 | Acosta Rene Alexander | other | 23,940 |
| May 20, 26 | Brinker Nancy G | other | 23,940 |
| May 20, 26 | Evans David A.R. | other | 23,940 |
| May 20, 26 | Dobriansky Paula J. | other | 23,940 |
| Apr 29, 26 | Burnham Darryle | other | 17,153 |
| Mar 19, 26 | Evans David A.R. | other | 0 |
| Aug 25, 25 | Gandler David | other | 11,738 |
| Aug 21, 25 | Gandler David | other | 0 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our NMAX coverage
Recent articles, reports, and earnings notes.
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Generate NMAX report →Why Newsmax Stock Is Skyrocketing Today
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Newsmax to Report Second Quarter 2026 Financial Results
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Newsmax and Meta Enter AI Content Partnership
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