Filing Flows › Newsmax (NMAX) › Q4 2025
Newsmax (NMAX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 26, 2026
Newsmax (NMAX) reported revenue of $52.2M for the fourth quarter 2025 (Q4 2025), +10% from a year earlier and +15% from the quarter before. Operating margin was -9.0%, net loss $3.0M (5.7% of revenue).
Newsmax, Q4 2025: revenue $52.2M (+10% year over year), operating margin -9.0%, net loss $3.0M, operating cash flow $2.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $52.2M | +15% | +10% |
| Operating profit | −$4.7M | — | — |
| Net earnings | −$3.0M | — | — |
| Operating cash flow | $2.6M | — | — |
| Free cash flow | $1.8M | — | — |
What changed
Revenue was $52.2M in Q4 2025, up 10% year over year and up 15% from the previous quarter.
Gross margin was 40.9%, down 6.5 points from Q4 2024. Operating costs exceeded revenue by $4.7M, an operating margin of -9.0%. Operating expenses fell 7% while revenue rose 10%. The quarter ended with a net loss of $3.0M, narrower than the previous quarter's $4.1M loss. Non-operating items added $1.6M, -54% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $2.6M. Non-cash charges added back $1.7M of depreciation and amortization and $3.4M of share-based compensation. Working capital and other items added $472K. Capital expenditures of $868K left free cash flow of $1.8M.
Questions
What was Newsmax's revenue in the fourth quarter 2025?
Newsmax (NMAX) reported revenue of $52.2M for the fourth quarter 2025 (Q4 2025), +10% from a year earlier and +15% from the quarter before.
Was Newsmax profitable in the fourth quarter 2025?
Operating loss was $4.7M (-9.0% of revenue) and net loss $3.0M.
Source: Newsmax 10-K on SEC EDGAR.