NYSE : NMAX
Newsmax Inc. — Financial statements
Communication Services · Broadcasting · United States
Last price 8.07 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.04B
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Financial statements
Newsmax Inc. (NMAX) reported revenue of 203.29M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | 203.29M | 189.25M | 171.02M | 135.28M | 135.31M |
| Cost of Revenue | 122.71M | 114.83M | 93.02M | 79.46M | 76.38M |
| Gross Profit | 80.58M | 74.42M | 78.00M | 55.82M | 58.93M |
| Selling, General & Admin | 93.21M | 171.49M | 144.69M | 73.82M | 75.85M |
| Operating Expenses | 95.62M | 174.28M | 147.80M | 76.99M | 78.41M |
| Operating Income | -15.04M | -99.85M | -69.81M | -21.17M | -19.47M |
| Interest Expense | -14.27K | -23.17K | -91.54K | -39.46K | -15.33K |
| Interest & Investment Income | 6.84M | 7.04M | 580.50K | 143.76K | 296.70K |
| Other Non Operating Income (Expenses) | -292.09K | -8.25M | -2.56M | 3.19M | -204.60K |
| EBT Excluding Unusual Items | -8.51M | -101.09M | -71.88M | -17.88M | -19.40M |
| Gain (Loss) on Sale of Investments | 2.09M | 1.59M | -290.08K | 46.32K | -519.66K |
| Asset Writedown | -23.93M | ||||
| Pretax Income | -6.42M | -99.50M | -72.17M | -41.76M | -19.92M |
| Income Tax Expense | -14.69K | 18.55K | 19.21K | ||
| Net Income | -6.41M | -99.50M | -72.17M | -41.78M | -19.94M |
| Preferred Dividends & Other Adjustments | 4.67M | 8.01M | 5.79M | 5.79M | |
| Net Income to Common | -6.41M | -104.16M | -80.18M | -47.57M | -25.73M |
| Shares Outstanding (Basic) | 128.99M | 108.21M | 41.07M | 41.07M | |
| Shares Outstanding (Diluted) | 128.99M | 108.21M | 41.07M | 41.07M | |
| EPS (Basic) | -0.05 | -0.96 | -1.95 | -1.16 | |
| EPS (Diluted) | -0.05 | -0.96 | -1.95 | -1.16 | |
| Free Cash Flow | -71.61M | -107.11M | -49.68M | -4.75M | -13.20M |
| Free Cash Flow Per Share | -0.56 | -0.99 | -1.21 | -0.12 | |
| Gross Margin | 39.64% | 39.32% | 45.61% | 41.26% | 43.55% |
| Operating Margin | -7.40% | -52.76% | -40.82% | -15.65% | -14.39% |
| Profit Margin | -3.15% | -55.04% | -46.88% | -35.16% | -19.01% |
| Free Cash Flow Margin | -35.23% | -56.59% | -29.05% | -3.51% | -9.76% |
| EBITDA | -12.16M | -96.63M | -66.74M | -18.00M | -16.91M |
| EBITDA Margin | -5.98% | -51.06% | -39.02% | -13.31% | -12.50% |
| D&A For EBITDA | 2.88M | 3.23M | 3.07M | 3.16M | 2.56M |
| EBIT | -15.04M | -99.85M | -69.81M | -21.17M | -19.47M |
| EBIT Margin | -7.40% | -52.76% | -40.82% | -15.65% | -14.39% |
| Revenue as Reported | 203.29M | 189.25M | 171.02M | 135.28M | 135.31M |
| Advertising Expenses | 21.67M | 16.87M | 16.98M | 29.87M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 25.88M | 20.43M | 24.05M | 6.04M | 4.05M |
| Short-Term Investments | 102.42M | 110.90M | 58.31M | 1.22M | 7.39M |
| Cash & Short-Term Investments | 128.30M | 131.33M | 82.36M | 7.26M | 11.44M |
| Receivables | 41.38M | 33.41M | 28.27M | 21.97M | 18.74M |
| Inventory | 1.90M | 2.03M | 1.79M | 3.83M | 3.83M |
| Prepaid Expenses | 9.10M | 8.69M | 8.93M | 2.35M | 8.46M |
| Other Current Assets | 21.00M | 20.00M | |||
| Total Current Assets | 201.68M | 195.46M | 121.35M | 35.42M | 42.47M |
| Property, Plant & Equipment | 18.33M | 15.09M | 13.42M | 18.60M | 23.61M |
| Other Long-Term Assets | 6.67M | 29.29M | 11.31M | 17.60M | 790.88K |
| Total Assets | 230.28M | 239.84M | 146.07M | 71.61M | 66.87M |
| Accounts Payable | 18.12M | 16.77M | 14.67M | 19.61M | 15.04M |
| Accrued Expenses | 16.20M | 14.89M | 13.17M | 5.77M | 4.61M |
| Short-Term Debt | 500.00K | ||||
| Current Portion of Leases | 4.27M | 4.06M | 4.09M | 3.84M | 3.54M |
| Current Unearned Revenue | 11.26M | 12.60M | 13.65M | 14.85M | 10.93M |
| Other Current Liabilities | 34.69M | 32.95M | 77.06M | 7.28M | |
| Total Current Liabilities | 84.54M | 81.28M | 122.65M | 51.85M | 34.11M |
| Long-Term Leases | 7.31M | 5.29M | 4.18M | 8.07M | 11.44M |
| Long-Term Unearned Revenue | 2.84M | 3.15M | 2.84M | 3.12M | 3.22M |
| Other Long-Term Liabilities | 22.41M | 44.08M | 25.48M | 32.16M | |
| Total Liabilities | 117.10M | 133.79M | 155.14M | 95.19M | 48.77M |
| Common Stock | 129.16K | 129.13K | 10.00 | 10.00 | 10.00 |
| Additional Paid-In Capital | 440.15M | 433.33M | 18.06M | 18.06M | 18.06M |
| Retained Earnings | -327.19M | -327.87M | -227.77M | -153.04M | -108.71M |
| Treasury Stock | -14.62M | -14.62M | -14.62M | ||
| Comprehensive Income & Other | 94.55K | 464.37K | -52.85K | -93.68K | |
| Total Common Equity | 113.18M | 106.05M | -224.39M | -149.60M | -105.37M |
| Shareholders' Equity | 113.18M | 106.05M | -9.07M | -23.58M | 18.10M |
| Total Liabilities & Equity | 230.28M | 239.84M | 146.07M | 71.61M | 66.87M |
| Total Debt | 11.58M | 9.36M | 8.27M | 12.41M | 14.98M |
| Net Cash (Debt) | 116.72M | 121.97M | 74.09M | -5.15M | -3.54M |
| Net Cash Per Share | 0.90 | 1.13 | 1.80 | -0.13 | |
| Filing Date Shares Outstanding | 129.16M | 129.14M | 128.19M | ||
| Total Common Shares Outstanding | 129.16M | 129.13M | 41.07M | ||
| Working Capital | 117.14M | 114.18M | -1.30M | -16.43M | 8.35M |
| Book Value Per Share | 0.88 | 0.82 | -5.46 | ||
| Tangible Book Value | 113.18M | 106.05M | -224.39M | -149.60M | -105.37M |
| Tangible Book Value Per Share | 0.88 | 0.82 | -5.46 | ||
| Machinery | 18.85M | 16.92M | 14.17M | 12.96M | |
| Leasehold Improvements | 10.30M | 10.29M | 10.18M | 10.18M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Net Income | -6.41M | -99.50M | -72.17M | -41.78M | -19.94M |
| Depreciation & Amortization | 2.88M | 3.23M | 3.07M | 3.16M | 2.56M |
| Other Amortization | 3.41M | 3.10M | 3.10M | 509.46K | |
| Asset Writedown & Restructuring Costs | 23.93M | ||||
| Loss (Gain) From Sale of Investments | -1.94M | -1.59M | 290.08K | -46.32K | 519.66K |
| Stock-Based Compensation | 13.64M | 11.96M | |||
| Provision & Write-off of Bad Debts | 264.19K | -186.03K | 259.27K | 2.55M | -7.67K |
| Other Operating Activities | 3.73M | 12.04M | 12.33M | 3.29M | 2.50M |
| Change in Accounts Receivable | -12.10M | -4.97M | -6.55M | -5.79M | 3.13M |
| Change in Inventory | -259.50K | -234.47K | 2.04M | -873.00 | -1.30M |
| Change in Accounts Payable | 2.52M | 1.92M | -5.09M | 4.50M | 6.82M |
| Change in Unearned Revenue | -341.54K | -739.85K | -1.48M | 3.83M | -1.11M |
| Change in Other Net Operating Assets | -73.66M | -29.48M | 15.51M | 2.01M | -493.22K |
| Operating Cash Flow | -68.27M | -104.45M | -48.69M | -3.83M | -7.32M |
| Capital Expenditures | -3.34M | -2.65M | -996.29K | -916.99K | -5.88M |
| Investment in Securities | 62.80M | -50.47M | -57.43M | 6.31M | 283.78K |
| Other Investing Activities | -1.00 | -1.00 | |||
| Investing Cash Flow | 59.46M | -53.12M | -58.43M | 5.40M | -5.60M |
| Short-Term Debt Issued | 500.00K | ||||
| Total Debt Issued | 500.00K | ||||
| Short-Term Debt Repaid | -500.00K | ||||
| Long-Term Debt Repaid | -199.24K | -189.37K | -72.56K | ||
| Total Debt Repaid | -190.24K | -199.24K | -689.37K | -72.56K | |
| Net Debt Issued (Repaid) | -190.24K | -199.24K | -689.37K | 427.44K | |
| Issuance of Common Stock | 2.16M | 75.44M | |||
| Common Dividends Paid | -915.07K | ||||
| Other Financing Activities | -1.11M | -1.11M | |||
| Financing Cash Flow | 858.93K | 153.96M | 125.13M | 427.44K | |
| Net Cash Flow | -7.96M | -3.62M | 18.02M | 1.99M | -12.92M |
| Free Cash Flow | -71.61M | -107.11M | -49.68M | -4.75M | -13.20M |
| Free Cash Flow Margin | -35.23% | -56.59% | -29.05% | -3.51% | -9.76% |
| Free Cash Flow Per Share | -0.56 | -0.99 | -1.21 | -0.12 | |
| Levered Free Cash Flow | -37.64M | -113.28M | 21.71M | 9.30M | |
| Unlevered Free Cash Flow | -37.63M | -113.27M | 21.77M | 9.33M | |
| Cash Interest Paid | 1.83K | 42.30K | 24.96K | 15.33K | |
| Cash Income Tax Paid | 28.16K | 28.16K | 16.37K | ||
| Change in Working Capital | -83.84M | -33.51M | 4.43M | 4.55M | 7.05M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Market Capitalization | 1.03B | 998.17M | |||
| Enterprise Value | 915.27M | 873.02M | |||
| Last Close Price | 7.99 | 7.73 | |||
| PS Ratio | 5.08 | 5.27 | |||
| PB Ratio | 9.12 | 9.41 | |||
| P/TBV Ratio | 9.12 | 9.41 | |||
| EV/Sales Ratio | 4.50 | 4.61 | |||
| Debt / Equity Ratio | 0.10 | 0.09 | -0.91 | -0.53 | 0.83 |
| Net Debt / Equity Ratio | -1.03 | -1.15 | 8.17 | -0.22 | 0.20 |
| Net Debt / EBITDA Ratio | 9.60 | 1.26 | 1.11 | -0.29 | -0.21 |
| Net Debt / FCF Ratio | 1.63 | 1.14 | 1.49 | -1.08 | -0.27 |
| Asset Turnover | 0.83 | 0.98 | 1.57 | 1.95 | |
| Inventory Turnover | 69.30 | 60.12 | 33.06 | 20.72 | |
| Quick Ratio | 2.01 | 2.03 | 0.90 | 0.56 | 0.89 |
| Current Ratio | 2.39 | 2.40 | 0.99 | 0.68 | 1.25 |
| Return on Equity (ROE) | -5.82% | -205.18% | |||
| Return on Assets (ROA) | -3.84% | -32.34% | -40.09% | -19.11% | |
| Return on Capital Employed (ROCE) | -10.30% | -63.00% | -298.00% | -107.10% | -59.50% |
| Earnings Yield | -0.62% | -9.97% | |||
| FCF Yield | -6.94% | -10.73% | |||
| Buyback Yield / Dilution | -101.53% | -163.49% |