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Newsmax Inc., through its subsidiaries, operates as a television broadcaster and multi-platform content publisher in the United States. It operates through two segments, Broadcasting and Digital. The Broadcasting segment produces and licenses news, business news, and lifestyle content for distribution through cable television systems, direct broadcast satellite operators, and telecommunication companies. This segment also provides programming services through Newsmax and Newsmax2, which offer 24/7 television news and informational programming channels through cable and digital streaming platforms; and World at War that offers 24/7 historical documentaries and movies. The Digital segment offers online advertising services, such as online display, email advertising, other online placements, and print advertisements; subscriptions, including a collection of specialized health and financial newsletters, Newsmax Magazine, and online membership programs; and sells nutraceutical and nonfiction books on political, financial, and health-related topics. Newsmax Inc. was founded in 1998 and is headquartered in Boca Raton, Florida.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $189M | $-93M | $-99M | $-107M | -93.8% | 10.7% | 37.9% |
| 2024 | $171M | $-66M | $-72M | $-50M | 32.2% | 26.4% | 72.8% |
| 2023 | $135M | $-38M | $-42M | $-5M | 27.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Revenue | 135.28 | 171.02 | 189.25 |
| Operating Revenue | 135.28 | 171.02 | 189.25 |
| Cost Of Revenue | 79.46 | 93.02 | 114.83 |
| Gross Profit | 55.82 | 78 | 74.42 |
| Operating Expense | 76.99 | 147.80 | 174.28 |
| Selling General And Administration | 73.82 | 144.69 | 171.49 |
| Total Expenses | 156.44 | 240.82 | 289.11 |
| Operating Income | -21.17 | -69.81 | -99.85 |
| Total Operating Income As Reported | -45.10 | -69.81 | -99.85 |
| EBITDA | -38.05 | -65.91 | -93.14 |
| Normalized EBITDA | -14.16 | -65.62 | -94.74 |
| EBIT | -41.72 | -72.08 | -99.47 |
| Interest Income | 0.14 | 0.58 | 7.04 |
| Interest Expense | 0.04 | 0.09 | 0.02 |
| Net Interest Income | 0.10 | 0.49 | 7.02 |
| Other Non Operating Income Expenses | 3.19 | -2.56 | -8.25 |
| Other Income Expense | -20.70 | -2.85 | -6.66 |
| Interest Income Non Operating | 0.14 | 0.58 | 7.04 |
| Interest Expense Non Operating | 0.04 | 0.09 | 0.02 |
| Net Non Operating Interest Income Expense | 0.10 | 0.49 | 7.02 |
| Pretax Income | -41.76 | -72.17 | -99.50 |
| Tax Provision | 0.02 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | -5.02 | 0 | 0 |
| Net Income Continuous Operations | -41.78 | -72.17 | -99.50 |
| Net Income From Continuing And Discontinued Operation | -41.78 | -72.17 | -99.50 |
| Net Income From Continuing Operation Net Minority Interest | -41.78 | -72.17 | -99.50 |
| Net Income | -41.78 | -72.17 | -99.50 |
| Net Income Common Stockholders | -47.57 | -80.18 | -104.16 |
| Net Income Including Noncontrolling Interests | -41.78 | -72.17 | -99.50 |
| Normalized Income | -22.91 | -71.88 | -101.09 |
| Diluted NI Availto Com Stockholders | -47.57 | -80.18 | -104.16 |
| Basic Average Shares | 44.90 | 128.41 | - |
| Diluted Average Shares | 44.90 | 128.41 | - |
| Reconciled Depreciation | 3.67 | 6.17 | 6.33 |
| Reconciled Cost Of Revenue | 78.95 | 89.96 | 111.30 |
| Total Unusual Items | -23.88 | -0.29 | 1.59 |
| Total Unusual Items Excluding Goodwill | -23.88 | -0.29 | 1.59 |
| Preferred Stock Dividends | 5.79 | 8.01 | 4.67 |
| Special Income Charges | -23.93 | 0 | - |
| Write Off | 23.93 | 0 | - |
| Gain On Sale Of Security | 0.05 | -0.29 | 1.59 |
| Depreciation Amortization Depletion Income Statement | 3.16 | 3.12 | 2.79 |
| Depreciation And Amortization In Income Statement | 3.16 | 3.12 | 2.79 |
| General And Administrative Expense | 56.84 | 127.82 | 149.81 |
| Other Gand A | 24.44 | 96.27 | 110.87 |
| Salaries And Wages | 26.46 | 25.56 | 32.94 |
| Rent Expense Supplemental | 5.94 | 5.98 | 6 |
| Selling And Marketing Expense | 16.98 | 16.87 | 21.67 |
| Rent And Landing Fees | 5.94 | 5.98 | 6 |
| Depreciation Income Statement | 3.16 | 3.12 | 2.79 |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| NMAXthis co. | NMAX | $1.2B | -12.42 | 11.66 | -93.8% | -13.15 |
| AMC Entertainment Holdings, Inc. | AMC | $1.5B | -2.34 | -0.78 | 33.4% | 42.59 |
| IDT Corporation | IDT | $1.4B | 18.16 | 4.53 | 24.9% | 9.09 |
| Yelp Inc. | YELP | $1.3B | 8.92 | 1.83 | 20.5% | 4.52 |
| Anterix Inc. | ATEX | $1.3B | -111.93 | 8.13 | -7.3% |
| -25.39 |
| USA TODAY Co., Inc. | TDAY | $1.2B | 687.17 | 7.75 | 1.1% | 8.58 |
| Playtika Holding Corp. | PLTK | $1.2B | -5.81 | -2.91 | 50.2% | 14.84 |
| Upwork Inc. | UPWK | $1.1B | 9.35 | 1.71 | 18.3% | 7.42 |
| Sinclair, Inc. | SBGI | $1.0B | -8.94 | 2.26 | -25.3% | 9.48 |
| Peer Median | - | 3.29 | 2.04 | 19.4% | 8.84 | |