Newsmax 2025 Q3 Earnings Revenue Grows 4% as Net Loss Narrows 57.9%

Newsmax (NMAX) reported Q3 2025 earnings on Nov 14, 2025, with revenue rising 4% year-over-year to $45.27 million, outperforming estimates. The company reiterated full-year revenue guidance of $180–190 million, signaling confidence in its growth trajectory despite ongoing net losses.

Revenue

Total revenue reached $45.27 million in Q3 2025, driven by a 22.3% surge in affiliate fees to $8.05 million and a 10.1% increase in broadcasting revenues to $36.6 million. Advertising revenue, however, dipped 1.6% to $27.59 million, attributed to a non-election year comparison. Subscription revenue held steady at $6.88 million, while product sales rose 1.8% to $1.55 million.

Earnings/Net Income

Newsmax narrowed its net loss to $4.12 million in Q3 2025, a 57.9% improvement from $9.77 million in 2024 Q3. Earnings per share improved to -$0.03 from -$0.29, marking a 89.7% reduction in losses. The EPS beat of $0.04 and revenue beat of $1.22 million highlight operational efficiency gains.

Post-Earnings Price Action Review

Despite beating revenue and EPS estimates, Newsmax’s stock faced persistent weakness post-earnings, declining 26.42% month-to-date. The strategy of buying shares after a revenue drop quarter-over-quarter showed poor performance, with a 30-day holding period failing to capitalize on rebounds. This underperformance reflects lingering investor skepticism about the company’s ability to convert distribution expansions—such as partnerships with 900 hotels and international platforms—into immediate profitability.

CEO Commentary

Christopher Ruddy, CEO, emphasized Newsmax’s “power and consistency” in a non-election year, crediting diversified revenue streams and expanded distribution. He highlighted the company’s $130.4 million cash reserves and strategic investments in content and international partnerships. Ruddy reiterated a focus on “sustainable, long-term growth,” underscoring confidence in the balance sheet’s flexibility to fund expansion.

Guidance

Newsmax reaffirmed FY25 revenue guidance of $180–190 million, aligning with a midpoint of $185 million. Management cited momentum in Q4 and a strong balance sheet to support strategic investments, though adjusted EBITDA remains negative at -$1.8 million.

Additional News

Newsmax expanded its domestic reach via a partnership with 900 hotels, adding 300,000 hotel rooms to its distribution network. The company also announced a $5 million cryptocurrency purchase plan, including Bitcoin and Trump Coin, marking its first foray into digital assets. Meanwhile, shares hit a 52-week low of $8.46, reflecting mixed analyst sentiment, with two “Buy” ratings and one “Sell” recommendation.