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What does Newsmax do and what are its main business segments?

Did Newsmax beat or miss consensus estimates last quarter?

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What were the key takeaways from Newsmax's earnings call?

What were the key takeaways from Newsmax’s earnings call?

What is the revenue and EPS growth rate for Newsmax year over year?

- **Revenue Growth**: 10.7% YoY to $189.3 million, driven by 17.3% broadcast revenue growth and 14.9% affiliate fee increase.
- **2026 Outlook**: 13% revenue growth (to $212-$216 million) fueled by affiliate fee expansion, streaming growth, and international licensing.
- **Strategic Investments**: $200+ million in content and talent to differentiate Newsmax+ and Newsmax2, with 260,000 subscribers.
- **International Expansion**: Over 100 countries reached, including new deals in France, Israel, and Ukraine. Newsmax Balkans is top-rated in the Balkans.
- **Litigation Impact**: Fox lawsuit could yield treble damages, offsetting past legal costs and supporting long-term growth.

**【CEO Summary Section】**
- **Revenue Growth and Market Position**: Full-year 2025 revenue increased 10.7% to $189.3 million, driven by 17.3% growth in broadcast revenue. Newsmax ranked as the 4th highest-rated cable news network and 6th among all cable channels in total day ratings.
- **Multi-Platform Strategy**: Expanded distribution across cable, streaming (Newsmax2), and digital platforms, with 50 million monthly U.S. audience reach. Newsmax2 is now carried in 64 markets, and Newsmax+ has 260,000 subscribers.
- **International Expansion**: Launched in over 100 countries, including new agreements in France, Israel, Cyprus, and Ukraine. Newsmax Balkans (Serbia) is the top-rated news channel in the Balkans.
- **2026 Outlook**: Anticipates 13% revenue growth (to $212-$216 million) driven by affiliate fee expansion, content investments, and streaming growth. Focus on premium content for Newsmax+ and Newsmax2.

**【CFO Financial Commentary】**
- **2025 Financial Highlights**: 
  - Total revenue: $189.3 million (10.7% YoY growth)
  - Broadcast revenue: $153.3 million (17.3% YoY)
  - Affiliate fees: $30.6 million (14.9% YoY)
  - Net loss: $99.5 million (37.8% YoY decline)
  - Cash and investments: $131 million (debt-free balance sheet)
- **2026 Guidance**: 
  - Revenue: $212-$216 million (13% YoY growth)
  - Growth drivers: Affiliate fee expansion, advertising demand, and international licensing.
  - Operating focus: Cost control, reduced legal expenses, and strategic investments in content.

**【Q&A Key Highlights】**
- **Market Share and Ratings**: Newsmax is the only cable news network with significant growth in a non-election year, benefiting from a fragmented media landscape and Fox News' dominance of the right-wing market.
- **Affiliate Fee Growth**: 2026 renewals will drive 17.9% YoY affiliate fee growth in Q4 2025, with multi-year contracts allowing rate increases despite industry declines.
- **Programming Investments**: $200+ million spent on talent and content to differentiate Newsmax+ and Newsmax2, with focus on exclusive programming and family-friendly content.
- **Litigation with Fox**: Lawsuit alleges Fox engaged in anti-competitive practices to block Newsmax distribution. Potential treble damages could offset past legal costs.
- **International Strategy**: Licensing deals generate recurring revenue, with Newsmax Balkans as a model for local-language channels. 2026 will see expansion into Middle East and Latin America.

Newsmax Inc (NMAX) Q4 2025 Earnings Call Transcript

- **Revenue Resilience**: Q3 2025 revenue up 4% YoY to $45.3M despite non-election year, driven by +22.3% affiliate fees and +8% Newsmax Plus subscribers. 
- **Streaming Success**: Newsmax 2 viewership up 33% in daytime, World at War channel launched. 
- **Cash Strength**: $130.4M cash & investments post-IPO, supporting strategic growth. 
- **Content Investment Payoff**: $M+ spent on exclusive content, with lagged ROI from app additions. 
- **Distribution Momentum**: 900+ hotels, Fubo Newsmax en Español, Trump Media global streaming. 
- **Risk Mitigation**: CEO reaffirms no shares sold, plans to buy more. 
- **Ad Growth Outlook**: CTV/OTT ad revenue poised to accelerate via Newsmax 2's OTT expansion.

**【CEO Summary Section】**
- **Revenue Growth**: Total Q3 2025 revenue of $45.3 million, up 4% YoY, driven by a diversified model including affiliate fees (+22.3%), broadcasting ad revenue, and Newsmax Plus subscribers (+8% YoY). 
- **Market Position**: Ranked #4 cable news network, reaching 60 million homes, with Newsmax 2 viewership up 33% in daytime vs. Q3 2024. 
- **Strategic Initiatives**: 
  - Expanded international distribution via Newsmax en Español and partnerships with Fubo and Trump Media. 
  - Launched World at War streaming channel and family-friendly content on Newsmax Plus. 
  - Invested in exclusive international coverage (e.g., Israel with Carl Higbie) and AI-driven news distribution. 
- **Distribution Wins**: 
  - 900+ hotels, 300,000+ rooms via hospitality partnership. 
  - Curb Taxi TV in 65 markets, 2.3B annual impressions. 
  - Trump Media's Truth Plus global streaming platform. 

**【CFO Financial Commentary】**
- **Financial Highlights**: 
  - Q3 2025 net loss of $4.1M (58.1% improvement vs. Q3 2024), driven by reduced legal expenses. 
  - Adjusted EBITDA: -$1.8M (vs. +$4.4M YoY), reflecting investments in production and public company costs. 
  - Cash & investments: $130.4M (vs. $82.4M at end-2024), supported by IPO proceeds. 
- **Revenue Breakdown**: 
  - Broadcasting: $36.6M (+10.1% YoY), led by affiliate fees ($8.1M, +22.3% YoY). 
  - Subscription: $6.9M (flat YoY, offsetting election cycle declines). 
  - Product Sales: $1.5M (+1.8% YoY). 
- **Key Trends**: 
  - Linear ad rates up despite 1.6% YoY decline in ad revenue (election cycle comparison). 
  - Newsmax 2 streaming success in non-election year. 

**【Q&A Key Highlights】**
- **Advertising Environment**: 
  - Non-election year ad revenue decline (-1.6% YoY) offset by higher rates and Nielsen ratings. 
  - CTV/OTT ad growth opportunities via Newsmax 2's 12+ OTT platforms. 
- **Content Investments**: 
  - $M+ spent on documentaries, scripted content, and exclusive talent. 
  - Lagged ROI: e.g., app content additions will drive Q4+ marketing efforts. 
- **Affiliate Fee Trends**: 
  - 22% QoQ growth in affiliate fees, driven by new contracts and rate increases. 
  - MVPDs prioritize live news/sports, valuing Newsmax's 24/7 trusted brand. 
- **Competitive Advantages**: 
  - Digital-first origin provides unique TV/digital synergy. 
  - 22M+ social media followers enhance distribution leverage. 
  - Reuters Institute ranks Newsmax among top 12 US media properties. 
- **Growth Drivers**: 
  - Cable TV: 60M+ homes, expanding international carriage. 
  - Streaming: Newsmax 2's 33% Q3 viewership growth, World at War channel. 
  - Print: Bestselling books (e.g., *Pagan Threat* at #4 NYT list) driving magazine subscriptions. 
- **Risk Management**: 
  - Mitigating fake financial news (e.g., Seeking Alpha inaccuracies). 
  - Management fully aligned with shareholders (CEO: no shares sold, plans to buy more).

Actual		-0.38	-0.03	-0.16
Forecast			-0.07	-0.09
Surprise	0.00%	0.00%	+57.14%	-77.78%

Actual	--	45.30M	45.27M	45.00M
Forecast	--	--	43.97M	44.00M
Surprise	0.00%	0.00%	+2.97%	+2.27%

NMAX

NMAX fundamentals

NMAX Q4 2025 Earnings

Earnings Call

You can ask Aime

NMAX

NMAX fundamentals

NMAX Q4 2025 Earnings

Earnings Call

NMAX Earnings Call Summary for Q4/2025Today4:30 PM on Mar 26, 2026

NMAX Earnings Call Summary for Q3/20254:30 PM on Nov 13, 2025

NMAX Earnings Call Summary for Q1/20254:00 PM on May 15, 2025

NMAX Earnings Call Summary for Q4/2024 Mar 26, 2026

You can ask Aime