Newsmax (NMAX) Q1 2026 earnings summary

Executive summary

• Achieved quarterly revenues of $51.7 million, up 14% year-over-year, with broadcasting revenues rising 20.8% to $43.7 million and maintaining position as the fourth highest-rated cable news channel.

• Net loss narrowed to $2.2 million from $17.2 million in the prior year quarter, driven by higher revenues and lower legal expenses.

• Audience reach expanded to 30.4 million total viewers and over 24.7 million social media followers, reinforcing a strong multi-platform presence.

• Expanded international presence with new licensing agreements in Serbia and Poland, and the launch of Newsmax Polska.

• Continued investment in premium programming, OTT initiatives, and digital platforms, including Newsmax2 and Newsmax+.

Financial highlights

• Total revenue grew 14% year-over-year to $51.7 million in Q1 2026.

• Broadcasting revenues increased 20.8% year-over-year to $43.7 million, driven by affiliate fee and licensing growth.

• Digital revenues declined 12.7% year-over-year to $8 million, mainly due to lower advertising, subscription, and product sales.

• Affiliate revenues surged 75.2% year-over-year to $13 million, and licensing revenue rose to $3.5 million from $437,000 in Q1 2025.

• Net loss improved to $2.2 million, and adjusted EBITDA was -$0.4 million, down $0.8 million year-over-year due to higher production and personnel costs.

Outlook and guidance

• Reaffirmed full-year 2026 revenue guidance of $212–$216 million, representing 13% year-over-year growth at the midpoint.

• Growth expected to be structural, led by affiliate fee expansion, licensing growth, and digital monetization.

• Profitability expected to improve due to operating leverage and reduced non-recurring expenses.

• Management expects sufficient liquidity to meet operating and capital requirements for the next 12 months.

• Political advertising not expected to significantly impact growth.