| Segment Information |
The following table presents our segment information for the periods indicated:
| |
|
Three Months
Ended March 31
|
|
| |
|
2026
|
|
|
2025
|
|
|
Media
|
|
|
|
|
|
|
|
Revenue
|
|
$
|
810.1 |
|
|
$
|
821.2 |
|
|
Other segment items(1)
|
|
|
(7,685.3 |
)
|
|
|
(5,942.4 |
)
|
|
Segment EBITDA
|
|
|
(6,875.2 |
)
|
|
|
(5,121.2 |
)
|
| |
|
|
|
|
|
|
|
|
|
Truth.Fi
|
|
|
|
|
|
|
|
|
|
Revenue
|
|
|
61.1 |
|
|
|
- |
|
|
Other segment items(2)
|
|
|
(789.9 |
)
|
|
|
- |
|
|
Segment EBITDA
|
|
|
(728.8 |
)
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
|
Total revenue
|
|
|
871.2 |
|
|
|
821.2 |
|
|
Total other segment items
|
|
|
(8,475.2 |
)
|
|
|
(5,942.4 |
)
|
|
Total Segment EBITDA
|
|
|
(7,604.0 |
)
|
|
|
(5,121.2 |
)
|
| |
|
|
|
|
|
|
|
|
|
Net loss
|
|
$
|
(405,884.2 |
)
|
|
$
|
(31,726.6 |
)
|
|
Interest (income)/expense, net
|
|
|
4,239.6 |
|
|
|
(7,808.4 |
)
|
|
Depreciation & amortization
|
|
|
1,866.4 |
|
|
|
1,779.2 |
|
|
Stock-based compensation
|
|
|
11,829.6 |
|
|
|
17,851.7 |
|
|
Income taxes
|
|
|
98.8 |
|
|
|
- |
|
| |
|
$
|
(387,849.8 |
)
|
|
$
|
(19,904.1 |
)
|
|
Corporate & other
|
|
|
380,245.8 |
|
|
|
14,782.9 |
|
|
Segment EBITDA
|
|
|
(7,604.0 |
)
|
|
|
(5,121.2 |
)
|
The following table provides information related to our cash, cash equivalents, restricted cash, short-term investments, and equity securities:
| |
|
March 31, 2026
|
|
|
December 31, 2025
|
|
| |
|
Media
|
|
|
Truth.Fi
|
|
|
Corporate
& Other
|
|
|
Media
|
|
|
Truth.Fi
|
|
|
Corporate
& other
|
|
|
Cash, cash equivalents, and restricted cash
|
|
$
|
26,759.2 |
|
|
$
|
3,951.5 |
|
|
$
|
248,889.7 |
|
|
$
|
4,106.3 |
|
|
$
|
1,791.3 |
|
|
$
|
159,990.5 |
|
|
Short-term investments
|
|
|
- |
|
|
|
- |
|
|
|
207,370.7 |
|
|
|
- |
|
|
|
- |
|
|
|
305,053.3 |
|
|
Equity securities
|
|
|
- |
|
|
|
- |
|
|
|
554,142.2 |
|
|
|
- |
|
|
|
- |
|
|
|
722,069.1 |
|
| |
|
$
|
26,759.2 |
|
|
$
|
3,951.5 |
|
|
$
|
1,010,402.6 |
|
|
$
|
4,106.3 |
|
|
$
|
1,791.3 |
|
|
$
|
1,187,112.9 |
|
| (1) | Other segment items in Media are primarily composed of cost of sales, personnel costs-excluding stock-based compensation, data center and system infrastructure costs excluding depreciation, and sales and marketing. |
| (2) | Other segment items in Truth.Fi are primarily composed of professional fees, licensing fee, personnel costs, and marketing cost associated with the launch and operations of ETFs and SMAs. |
|