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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% | - |
| 2024 | $171M | $-66M | $-72M | $-50M | 796.0% | 26.4% | - |
| 2023 | $135M | $-38M | $-42M | $-5M | 177.1% | - | - |
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 |
| Cost Of Revenue | 79.46 | 93.02 | 114.83 |
| Gross Profit | 55.82 | 78 | 74.42 |
| Operating Expense | 76.99 | 147.80 | 174.28 |
| Operating Income | -21.17 | -69.81 | -99.85 |
| EBITDA | -38.05 | -65.91 | -93.14 |
| EBIT | -41.72 | -72.08 | -99.47 |
| Pretax Income | -41.76 | -72.17 | -99.50 |
| Tax Provision | 0.02 | 0 | 0 |
| Net Income | -41.78 | -72.17 | -99.50 |
| Net Income Common Stockholders | -47.57 | -80.18 | -104.16 |
| Total Expenses | 156.44 | 240.82 | 289.11 |
| Interest Expense | 0.04 | 0.09 | 0.02 |
| Interest Income | 0.14 | 0.58 | 7.04 |
| Selling General And Administration | 73.82 | 144.69 | 171.49 |
| Normalized EBITDA | -14.16 | -65.62 | -94.74 |
| Normalized Income | -22.91 | -71.88 | -101.09 |
| Basic EPS | -1.06 | -0.62 | 0 |
| Diluted EPS | -1.06 | -0.62 | 0 |
| Tax Effect Of Unusual Items | -5.02 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0 | 0 |
| Total Unusual Items | -23.88 | -0.29 | 1.59 |
| Total Unusual Items Excluding Goodwill | -23.88 | -0.29 | 1.59 |
| Net Income From Continuing Operation Net Minority Interest | -41.78 | -72.17 | -99.50 |
| Reconciled Depreciation | 3.67 | 6.17 | 6.33 |
| Reconciled Cost Of Revenue | 78.95 | 89.96 | 111.30 |
| Net Interest Income | 0.10 | 0.49 | 7.02 |
| Net Income From Continuing And Discontinued Operation | -41.78 | -72.17 | -99.50 |
| Rent Expense Supplemental | 5.94 | 5.98 | 6 |
| Total Operating Income As Reported | -45.10 | -69.81 | -99.85 |
| Diluted Average Shares | 44.90 | 128.41 | 0 |
| Basic Average Shares | 44.90 | 128.41 | 0 |
| Diluted NI Availto Com Stockholders | -47.57 | -80.18 | -104.16 |
| Preferred Stock Dividends | 5.79 | 8.01 | 4.67 |
| Net Income Including Noncontrolling Interests | -41.78 | -72.17 | -99.50 |
| Net Income Continuous Operations | -41.78 | -72.17 | -99.50 |
| Other Income Expense | -20.70 | -2.85 | -6.66 |
| Other Non Operating Income Expenses | 3.19 | -2.56 | -8.25 |
| Special Income Charges | -23.93 | 0 | 0 |
| Write Off | 23.93 | 0 | 0 |
| Gain On Sale Of Security | 0.05 | -0.29 | 1.59 |
| Net Non Operating Interest Income Expense | 0.10 | 0.49 | 7.02 |
| Interest Expense Non Operating | 0.04 | 0.09 | 0.02 |
| Interest Income Non Operating | 0.14 | 0.58 | 7.04 |
| Depreciation Amortization Depletion Income Statement | 3.16 | 3.12 | 2.79 |
| Depreciation And Amortization In Income Statement | 3.16 | 3.12 | 2.79 |
| Depreciation Income Statement | 3.16 | 3.12 | 2.79 |
| Selling And Marketing Expense | 16.98 | 16.87 | 21.67 |
| General And Administrative Expense | 56.84 | 127.82 | 149.81 |
| Other Gand A | 24.44 | 96.27 | 110.87 |
| Rent And Landing Fees | 5.94 | 5.98 | 6 |
| Salaries And Wages | 26.46 | 25.56 | 32.94 |
| Operating Revenue | 135.28 | 171.02 | 189.25 |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| NMAXthis co. | NMAX | - | - | - | -93.8% | - |
| ZipRecruiter, Inc. | ZIP | $233M | - | -3.13 | 42.7% | -26.72 |
| Crexendo, Inc. | CXDO | $209M | 41.00 | 3.19 | 7.9% | 23.83 |
| CuriosityStream Inc. | CURI | $183M | - | 4.38 | -15.5% | 21.55 |
| The Arena Group Holdings, Inc. | AREN | $109M | 3.83 | -22.77 | -2587.7% |
| 4.50 |
| Travelzoo | TZOO | $106M | 25.63 | -14.16 | -194.0% | 15.89 |
| Gaia, Inc. | GAIA | $75M | - | 0.85 | -4.4% | 30.55 |
| Vivid Seats Inc. | SEAT | $69M | - | -0.79 | 504.3% | -52.17 |
| PLAYSTUDIOS, Inc. | MYPS | $53M | - | 0.23 | -12.6% | -2.44 |
| Peer Median | - | 25.63 | -0.28 | -8.5% | 10.20 | |