| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Segment adjusted ebitda | NaN | -6,496,400 | NaN | NaN |
| Depreciation | NaN | 2,789,875 | NaN | NaN |
| Interest, net | NaN | 7,015,564 | NaN | NaN |
| Unrealized (loss) gain on marketable securities | NaN | -448,418 | NaN | NaN |
| Stock-based compensation | NaN | 11,955,881 | NaN | NaN |
| Other corporate matters | NaN | 78,612,413 | NaN | NaN |
| Other, net | NaN | -8,250,335 | NaN | NaN |
| Income tax expense | NaN | 0 | NaN | NaN |
| Unrealized (gain) loss on marketable securities | NaN | -448,418 | 957,795 | 1,084,844 |
| Net loss | -2,188,210 | -2,971,567 | -4,115,406 | -92,408,146 |
| Depreciation and amortization | 1,523,571 | 1,712,624 | 1,525,479 | 3,089,126 |
| Stock-based compensation | 3,355,369 | 3,413,749 | 3,547,339 | 4,994,794 |
| Change in fair value of warrant liability | 0 | 0 | 0 | 1,824,179 |
| Change in fair value of derivative liability | 0 | 0 | 0 | 6,104,230 |
| Provision for (recovery of) credit losses | 331,760 | -119,007 | 199,052 | -266,076 |
| Unrealized gain on investments | 890,275 | NaN | NaN | NaN |
| Non-cash lease expense | NaN | NaN | 786,694 | 1,788,532 |
| Lease expense | 930,357 | 3,615,173 | NaN | NaN |
| Non-cash expense related to sepa agreement | NaN | NaN | 0 | 500,000 |
| Commitment fee - standby equity purchase agreement | NaN | 500,000 | NaN | NaN |
| Accounts receivable | 5,210,412 | 2,680,341 | 1,269,209 | 1,021,463 |
| Inventory | -17,038 | 228,868 | 157,348 | -151,745 |
| Prepaid expenses and other current assets | 2,013,792 | -766,825 | 1,244,152 | 1,226,532 |
| Funding of settlement escrow | NaN | 0 | 40,000,000 | NaN |
| Funds released from escrow | -20,000,000 | NaN | NaN | NaN |
| Other asset | 3,022,299 | 349,376 | 0 | 1,201,125 |
| Security deposits | NaN | 32,586 | -49,042 | -11,107 |
| Accounts payable | -1,407,567 | 1,468,971 | 137,650 | 314,683 |
| Accrued expenses | 5,113,994 | 695,607 | 3,558,221 | -2,530,837 |
| Lease liabilities | -1,030,363 | -1,138,597 | -904,961 | -1,921,948 |
| Settlement liability | -21,361,820 | -1,428,500 | -28,494,146 | 44,984,790 |
| Other long-term liabilities | 2,954,167 | -12,500 | -62,500 | 1,000,000 |
| Deferred revenue | 255,645 | 2,042,339 | -732,114 | -2,050,078 |
| Net cash used in operating activities | -2,642,837 | 2,627,139 | -68,134,154 | -38,947,863 |
| Sale of investments | NaN | 412,997 | 49,361,533 | 0 |
| Purchase of investments | 351,349 | 16,378,397 | 132,569,436 | NaN |
| Proceeds from maturity of investments | 0 | 20,450,000 | 250,000 | 28,000,000 |
| Purchase of property and equipment | 242,854 | 867,518 | 1,093,537 | 689,460 |
| Purchase of investments | NaN | NaN | NaN | 131,727,862 |
| Net cash used in investing activities | -594,203 | 3,617,081 | 47,676,422 | -104,417,322 |
| Proceeds from issuance of convertible preferred stock, net | 0 | 0 | 0 | 80,742,222 |
| Proceeds from additional stock issuance | NaN | 0 | 23,500 | 65,000 |
| Proceeds from issuance of common stock ipo, net | 0 | 1,110,404 | -300,000 | 66,659,453 |
| Payments of third-party ipo issuance costs | NaN | 1,110,404 | NaN | NaN |
| Proceeds from exercise of stock options | 50,134 | 53,331 | 1,121,908 | 6,707,723 |
| Payment of dividend | 0 | 2 | 0 | 915,067 |
| Payment of line of credit | NaN | 0 | NaN | NaN |
| Principal payment under finance lease obligation | 47,355 | 46,105 | 48,137 | 104,995 |
| Net cash provided by financing activities | 2,779 | 7,224 | 797,271 | 153,154,337 |
| Net change in cash | -3,234,261 | 6,251,444 | -19,660,461 | 9,789,152 |
| Cash and cash equivalents beginning | 20,433,021 | 9,871,309 | 24,052,887 | NaN |
| Cash and cash equivalents ending | 17,198,760 | 6,251,444 | 14,181,578 | NaN |
Newsmax Inc. (NMAX)
Newsmax Inc. (NMAX)