Newsmax (NMAX) Q2 2026 earnings summary

Executive summary

• Achieved record quarterly revenues of $54.1 million in Q2 2026, up 16.5% year-over-year, marking the first profitable quarter as a public company with net income of $2.9 million and adjusted EBITDA of $5.7 million.

• Growth was driven by higher-margin affiliate fees, expanded licensing, and strong broadcast performance, while digital revenues declined slightly due to lower subscriptions and product sales.

• Audience reach hit 26.9 million, up 4% year-over-year, with strong engagement among adults 35-64 and robust social media growth (followers up 28% to over 26 million).

• Strategic investments continued in content, technology, and distribution, including a multi-year AI content partnership with Meta and international expansion, notably the launch of Newsmax Poland.

Financial highlights

• Gross margin expanded to 43.1% from 38% in the prior year quarter, driven by affiliate and licensing revenue mix.

• Affiliate revenues surged 81.9% year-over-year to $13.4 million; licensing revenues rose to $4.6 million from $0.7 million.

• Broadcasting revenues grew 20.5% year-over-year to $45.8 million, while digital revenues declined 1.3% to $8.3 million.

• Adjusted EBITDA for Q2 2026 was $5.7 million, up from negative $3.8 million in the prior year.

• Ended quarter with $128.3 million in cash and investments, no debt.

Outlook and guidance

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

• Expects margin improvement to continue, led by affiliate fee and licensing growth, and ongoing investment in content and technology.

• International licensing fees expected to reach $16 million in 2026, with a $25 million annualized run rate targeted for 2027.

• Management remains focused on long-term growth through continued investment in content, distribution, and OTT initiatives.