Newsmax, Inc. (NMAX) Market Cap
Newsmax, Inc. has a market capitalization of $624.7M.
Financials based on reported quarter end 2025-12-31
Price: $6.95
▲ 0.10 (1.46%)
Market Cap: 624.73M
NYSE · time unavailable
CEO: Christopher W. Ruddy
Sector: Communication Services
Industry: Broadcasting
IPO Date: 2025-03-31
Website: https://invest.newsmax.com
Newsmax, Inc. (NMAX) - Company Information
Market Cap: 624.73M · Sector: Communication Services
Newsmax Inc., through its subsidiaries, operates as television broadcaster and multi-platform content publisher. It operates in two segments broadcasting and digital. The company produces and licenses news, business news, and lifestyle content comprising Newsmax and Newsmax2 that offers 24/7 television news and informational programming channel. It also provides online advertising, including online display, email advertising, other online placements, print advertisements, subscriptions, including our collection of specialized health and financial newsletters, Newsmax Magazine and four online membership programs, and (3) e-commerce, primarily through our subsidiaries that sell nutraceuticals and nonfiction books on political, financial and health-related topics. The company was founded in 1998 and is based in Boca Raton, Florida. Newsmax Inc. operates as a subsidiary of Christopher Ruddy Revocable Trust
Analyst Sentiment
Based on 2 ratings
Consensus Price Target
No data available
Price & Moving Averages
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Fundamentals Overview
📊 AI Financial Analysis
Powered by StockMarketInfo"NMAX reported revenue of $52.2M for the most recent quarter (2025-12-31), with net income and EPS both shown as 0. Net margin cannot be computed from the provided figures. Cash flow for the latest cash flow period (2025-09-30) was weak, with operating cash flow of about -$28.1M and free cash flow of about -$29.2M; capital expenditure was approximately -$1.1M and dividends paid were $0. Balance sheet data show total assets of $239.8T, total liabilities of $133.8T, and equity of $106.0T, alongside net debt of -$11.1T (i.e., net cash based on this sign convention). However, these balance sheet magnitudes are orders of magnitude larger than revenue, suggesting either a units/scaling mismatch or incomplete consolidation in the dataset, so leverage and equity-based interpretation should be treated cautiously. On shareholder returns, the stock has experienced substantial negative price momentum: -92.84% over 1 year and -52.69% over 6 months. With $0 dividends and no buyback information provided, total shareholder value creation appears dominated by capital depreciation. Valuation metrics and analyst price targets were not provided, limiting a full valuation/Sentiment assessment."
Revenue Growth
Only a single revenue point ($52.2M) is provided without prior-period comparatives, so growth/stability cannot be assessed from the dataset.
Profitability
Net income and EPS are both listed as 0, leaving profitability metrics unclear; inability to calculate net margin and the absence of earnings trend data limit confidence.
Cash Flow Quality
Cash generation is negative: operating cash flow about -$28.1M and free cash flow about -$29.2M (2025-09-30). No dividends are paid ($0). Buybacks are not provided.
Leverage & Balance Sheet
Net debt is reported as -$11.1T (net cash), but total balance sheet figures are extremely large versus revenue, indicating potential scaling/units inconsistency; resilience conclusions should be treated cautiously.
Shareholder Returns
Total shareholder returns appear strongly negative based on price performance alone: -92.84% over 1 year and -52.69% over 6 months. Dividends are $0 and no buybacks are provided.
Analyst Sentiment & Valuation
Key valuation inputs (P/E, FCF yield, ROE) and analyst price targets are missing, so valuation and sentiment cannot be quantitatively evaluated.
Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.
Newsmax’s Q4 and FY2025 results show broad-based broadcast strength with affiliate fees as the primary structural growth engine. FY revenue rose 10.7% to $189.3M and broadcast revenue grew 17.3% to $153.3M, anchored by affiliate fees up 14.9% to $30.6M. While digital softened in the election cycle (FY digital -10.9% and Q4 subscriptions down 7%), product sales rebounded strongly (Q4 +64.2% YoY) and licensing/other revenues grew (Q4 other $1.2M vs $0.4M). Management highlighted strategic investments in programming and the multi-platform ecosystem (Newsmax, Newsmax2 FAST/Diginet, and Newsmax+), with over 200 hours of new on-demand content added to support retention and monetization. The company guided FY2026 revenue of $212M–$216M (+13% YoY midpoint), explicitly expecting non-political, structural momentum from affiliate expansions and new distribution channels. Financial flexibility is strong with ~ $131.3M cash/investments and no debt, though adjusted EBITDA remained negative due to ongoing investment. Key execution risk centers on near-term Newsmax+ subscriber softness.
Growth Catalysts
- Affiliate fee expansion (higher rates + renewals) driving structural growth
- Continued broadcast advertising strength despite nonelection cycle (Q4 ad revenue +5.9% YoY)
- International licensing growth (other revenues licensing up in Q4; presence in 100+ countries by year-end)
- Newsmax2 FAST/Diginet distribution expansion (now in 14 of top 20 US markets; added 18 markets in 2025)
- Newsmax+ monetization support from incremental content (over 200 hours added; Q4 subscription normalization headwind)
Business Development
- New international agreements announced in Q4: launches in France, Israel, Cyprus
- Brand license agreement to launch Newsmax Ukraine in H1 2026 (underway)
- Launched on Hulu TV
- Renewed multiyear agreement with YouTube TV
- Planned Newsmax+ distribution through YouTube prime time channels beginning in 2026
- Newsmax2 availability on FAST/OTT platforms including Xumo, Pluto, Samsung Plus (and others)
- Newsmax2 carried over the air as a Diginet channel in 64 markets (with 18 additional markets added in 2025)
- International branded licensing example: Serbia channel via United Cable; morphed into Telecom Serbia, with Newsmax Balkans #1 (as described by management)
Financial Highlights
- FY2025 revenue +10.7% YoY to $189.3M (high end of guidance range)
- FY2025 broadcast revenue +17.3% YoY to $153.3M; affiliate fees +14.9% YoY to $30.6M; advertising +10.2% YoY to $120.3M; Newsmax+ subscription revenue +2.6% YoY to $27.5M; product sales +20.7% YoY to $7.3M; licensing/other revenues +$1.3M to $3.6M
- FY2025 net loss -$99.5M (37.8% decline in loss vs -$72.2M prior year) mainly due to $78.6M legal settlement expenses plus stock-based compensation/noncash derivative/warrant adjustments and higher production/programming investments
- FY2025 adjusted EBITDA loss of -$6.5M vs +$10.2M prior year (reflecting continued strategic investments)
- Q4 2025 revenue $52.2M (+9.6% YoY)
- Q4 broadcast revenue $42.5M (+12.6% YoY) driven by affiliate fees, ad demand/pricing, and licensing
- Q4 total digital revenue $9.7M (-2.0% YoY) driven by declines in advertising and subscription (post-election normalization) more than offset by product sales
- Q4 advertising revenue $33.9M (+5.9% YoY); Q4 affiliate revenue $7.8M (+17.9% YoY); Q4 subscription revenue $6.6M (-7% YoY); Q4 product sales $2.6M (+64.2% YoY); Q4 other/licensing $1.2M vs $0.4M prior year
- Q4 net loss -$3.0M (improved 56.5% YoY vs -$6.9M); Q4 adjusted EBITDA -$1.3M loss (worsened by -$3.8M YoY) with higher production/programming and public company/legal/consulting costs
Capital Funding
- Exited FY2025 with $131.3M cash and short-term investments plus no debt (CFO stated “debt-free balance sheet” and cash/investments totals)
- End of Q4/FY2025: $20.4M cash and cash equivalents; $110.9M investments (total ~$131.3M)
- No buyback or debt issuance amounts mentioned in the transcript
Strategy & Ops
- Multi-platform monetization emphasis: integrate digital and legacy TV across cable, streaming FAST (Newsmax2), and paid on-demand (Newsmax+)
- Programming/talent strategy: management skeptical of “big contract = immediate audience,” emphasizing organic talent development and lineup changes
- 2026 operating profile improvement expected from reduced legal and public-company transition expenses (profitability/cost trajectory discussion)
- Newsmax2 distribution expansion continued; Newsmax+ content expansion (200+ hours added) to improve engagement/retention and translate into subscriber growth
Market Outlook
- FY2026 revenue guidance: $212M to $216M (13% YoY growth at midpoint)
- Management characterization: growth expected to be structural, not political; political advertising not expected to be meaningful contributor
- International licensing expected to continue during 2026 (activity currently underway; management hopes to report additional developments soon)
Risks & Headwinds
- Newsmax+ subscriber addition pace described as a short-term headwind (Q4 subscription revenue -7% YoY due to post-election normalization)
- No bps/tariff/yield margin changes quantified in the transcript (none disclosed beyond qualitative “improved operating profile” from reduced one-time transition expenses)
- Potential election-driven advertising cyclicality acknowledged generally, but guidance assumes it will not materially contribute
- Ongoing Fox litigation referenced as a strategic concern (and related to historical distribution “bullying/drag-down rights” blocking mechanisms), though no direct financial quantification provided
Sentiment: POSITIVE
Note: This summary was synthesized by AI from the NMAX Q4 2025 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.