Newsmax has unveiled its first-quarter financial results, and the news is overwhelmingly positive, featuring double-digit revenue growth.
The company reported $45.3 million in total revenues during the first quarter. That figure represents an 11.6% increase compared to 2024’s first quarter. Affiliate revenue grew by 12.5% to $7.4 million as the company announced new carriage deals with several providers during the first quarter.
Additionally, advertising revenue grew 13.5% to $28.9 million, which Newsmax claims comes from higher viewership totals, allowing the company to raise its advertising rates.
“We are thrilled to share our first earnings results as a publicly traded company since we listed on the New York Stock Exchange in March,” Newsmax CEO Chris Ruddy said. “This milestone marks the beginning of an exciting new chapter for us as a public company. I want to sincerely thank everyone who participated in both our private raise and IPO — your support made this achievement possible.”
During the quarter, the company reported a loss of $17.2 million, down from the $50.7 million it lost in the first quarter last year. Newsmax said its operating expenses increased due to costs associated with taking its company public on the New York Stock Exchange.
Its Adjusted EBITDA was $1.2 million, a decrease of $4.4 million compared to January, February, and March last year. The company ended the quarter with $126.7 million in cash and cash equivalents. That represents an increase of 426.8% over the final quarter of 2024.
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