Summary by Moomoo AI
Newsmax Inc. reported total revenue of $171 million for fiscal year 2024, up 26.4% from $135.3 million in 2023, driven by strong growth in affiliate fees and subscription revenue. The broadcast segment generated $130.7 million in revenue while digital contributed $40.3 million. The company recorded a net loss of $72.2 million, compared to a $41.8 million loss in 2023.The company successfully completed a $225 million private placement of Series B Preferred Stock in February 2025 and subsequently listed on the NYSE in March 2025, raising an additional $75 million through its initial public offering. As part of the IPO process, Newsmax implemented a 6,765.396-for-1 stock split and established a dual-class share structure, with Class A shares having 10 votes and Class B shares having one vote per share.The company faces ongoing litigation with Dominion Voting Systems seeking $1.6 billion in damages, with trial set for April 2025. Separately, Newsmax reached a $40 million settlement with Smartmatic in September 2024. The company maintains strong liquidity with $24.1 million in cash and $58.3 million in investments as of December 31, 2024, while continuing to invest in content and distribution growth.
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