The company owning Donald Trump’s Truth Social media has disclosed significant net losses totaling around £297 million for the first quarter. These losses were mainly attributed to unrealized losses on digital assets, interest expenses, and stock-based compensation.
Although net sales saw a modest increase of six percent year over year, the company experienced substantial losses due to various investments. The interim CEO stated that the company is leveraging its strong financial position and operational cash flow to expand its business and platform infrastructure.
The company highlighted its ongoing efforts to advance a proposed merger with TAE Technologies swiftly while exploring new growth opportunities to enhance shareholder value. Truth Social, known for its controversial content, particularly from the former US President, incurred substantial losses primarily from significant bitcoin purchases in 2025.
The social media platform, established in 2021 after Trump’s ban from major platforms, has garnered a following but has not achieved widespread traction. Recently, the company made a surprising move towards nuclear fusion technology with a multi-billion-pound merger with TAE Technologies.
The merger aims to establish one of the first publicly traded nuclear fusion companies and build the world’s first utility-scale fusion power plant. TAE Technologies focuses on nuclear fusion, a process that combines atomic nuclei to generate vast amounts of energy.
Backed by Google and Chevron, TAE and TMTG shareholders will each hold a 50% stake in the merged entity. Former congressman Devin Nunes, now the co-CEO of Trump Media, will lead the new company alongside TAE Technologies’ chief executive, Michl Binderbauer.