Newsmax Inc. Class B (NMAX) Q2 2026 Earnings Report

The call presented strong operational and financial progress: record revenue, positive net income and adjusted EBITDA, robust broadcast and affiliate fee growth, expanding international licensing, audience and social growth, and a debt‑free balance sheet. Offsetting risks include modest declines in digital and subscription revenue, weaker advertising and product sales versus the prior year (partly due to election comps), and some uncertainty around closing the affiliate fee gap and the scale/timing of AI/licensing monetization. On balance the positives outweigh the negatives.

Newsmax reiterated full‑year 2026 revenue guidance of $212–$216 million (about 13% growth at the midpoint) and said it expects the full‑year operating profile to improve versus 2025, driven by higher‑margin affiliate fee expansion and licensing; management cited Q2 traction including record revenue of $54.1M (up 16.5% YoY), broadcasting revenue $45.8M (up 20.5%), affiliate revenue up 81.9% YoY to $13.4M, licensing $4.6M (vs. $0.7M prior year), adjusted EBITDA $5.7M (vs. -$3.8M prior year), net income $2.9M, gross margin of 43.1% (vs. 38.0%), total viewership of 26.9M (up 4% YoY), social followers >26M (up ~28%), and a cash + short‑term investment balance of $128.3M with no debt; internationally, management expects ~ $16M in licensing fees for 2026 (vs. $3.6M in 2025, +344%) and cited a targeted ~$25M annualized run‑rate for 2027, while reaffirming continued investment in programming, streaming, technology and AI.