Truth Social Reports 1st Positive Operating Cash Flow, $3 Billion in Assets

The company touts first positive cash flow, $2 billion bitcoin trove as it vows to expand through mergers and acquisitions, help advance ‘America First’ agenda.

A person checks the Apple App Store for Truth Social, with a photo of former President Donald Trump on a computer screen in the background, in Los Angeles on Oct. 20, 2021, in this photo illustration. Chris Delmas/AFP via Getty Images

Trump Media and Technology Group, parent company of Truth Social, said on Aug. 1 that it ended the second quarter with $3.1 billion in financial assets and posted its first quarter of positive operating cash flow as the company ramps up its cryptocurrency strategy.

The company, which went public in 2024, reported cash flow from operations of $2.3 million for the quarter ending on June 30, according to a Securities and Exchange Commission (SEC) filing disclosed on Aug. 1.

Trump Media also revealed that it has built one of the largest bitcoin treasuries of any public firm, holding about $2 billion in bitcoin and related securities following a $2.4 billion private placement in July backed by roughly 50 institutional investors, according to a statement.

“In a very short time, Trump Media has reopened the Internet for free speech, created an uncancellable social media platform and video streaming platform, expanded both platforms worldwide, amassed one of the biggest Bitcoin treasuries of any public company, and now, we have our first quarter of positive operating cash flow—despite having gone public just last year,” Trump Media CEO Devin Nunes said in a statement.

Revenue rose by 6 percent year over year to $900,000, while the company posted a net loss of $20 million, driven largely by $20.5 million in non‑cash expenses and $15 million in legal costs related to its protracted merger with a special‑purpose acquisition company. That merger—one of the longest of its kind—triggered extensive litigation as Trump Media sought to recoup damages from individuals it accuses of wrongfully delaying the deal.

The second quarter followed a period of rapid product and geographic expansion. In July, the company rolled out Truth+ globally, bringing streaming content and channels such as Newsmax to international audiences. It also launched a customized Truth Social app for iPad in July to improve user experience on Apple tablets. Earlier that month, Trump Media filed with the SEC to register the Truth Social Crypto Blue Chip exchange-traded fund, a planned fund that would hold bitcoin, Ether, Solana, Cronos, and Ripple, pending regulatory approval.

The company’s diversification push into fintech—anchored by its Truth.Fi brand—builds on initiatives launched in the first quarter, when it introduced “America First”‑themed exchange‑traded funds and separately managed accounts, invested heavily in crypto-related assets, and secured payment processing for its platforms. The firm closed the first quarter with $759 million in cash and short‑term investments and said it expects that liquidity to support ongoing expansion, including potential mergers and acquisitions.

“We aim to continually increase both the quality and quantity of our products and services as we pursue a wide array of options, including acquiring crown jewel assets through mergers and acquisitions, to strengthen and extend our position in the America First economy,” Nunes said in an Aug. 1 statement on the company’s future plans.

President Donald Trump owned about 115 million shares of Trump Media, or about 52 percent of the company’s outstanding stock, through the Donald J. Trump Revocable Trust as of March 11, 2025, according to the company’s proxy statement filed with the SEC. At the Aug. 1 closing price of $16.92, that stake is worth roughly $1.94 billion—about half of what it was at the start of the year amid a 50 percent year-to-date drop in the company’s share price.

In a letter to shareholders marking Trump Media’s first anniversary as a public company, Nunes credited the firm’s growth to its predominantly retail investor base—roughly 600,000 individuals—and framed its mission as a response to what he called Big Tech censorship and “legacy media” hostility.

He touted the company’s low operating costs, strong cash reserves, and focus on building “uncancellable” infrastructure, while pledging to pursue mergers, acquisitions, and new financial products aligned with “America First” principles.