For more info:
ir.newsmax.com
“We believe Newsmax is entering this next chapter from a position of strength, supported by a solid financial foundation, expanding distribution, and a clear focus on sustainable, long-term growth for our shareholders.”
of our multiplatform model and diver- sified revenue streams that benefit from the continued demand for inde- pendent, values-driven journalism, which resonates with audiences across all of our platforms.” Ruddy continued, “Looking ahead,
with key milestones completed and the costs of becoming a public com- pany largely absorbed, we are well positioned to accelerate our growth trajectory with strategic investment initiatives across content, distribution, and technology. “We believe Newsmax is entering
this next chapter from a position of strength, supported by a solid financial foundation, expanding distribution, and a clear focus on sustainable, long- term growth for our shareholders.” Fourth-Quarter 2025 Financial Highlights: Newsmax reported total quarter-
ly revenues of $52.2 million for the three-month period ended Dec. 31, 2025, representing a 9.6% year-over- year increase. Total broadcasting revenues grew
12.6% year-over-year to $42.5 million for the fourth quarter of 2025, under- scoring continued growth even in a non-election year. This was driven by affiliate fee revenue growth, higher ratings and pricing for broadcasting ad revenue, and licensing growth. Newsmax reported a quarterly net
loss of $3 million as compared to a net loss of $6.9 million reported in the same quarter in the prior year, primarily driven by higher strategic investments in headcount, program- ming, and production capabilities to support the ongoing expansion and enhancement of our content offer-
Newsmax Appoints David Evans to Board of Directors
— Christopher Ruddy, CEO of Newsmax
ing, stock-based compensation costs, offset by higher broadcasting adver- tising, affiliate fees, book sales, and licensing revenue. Quarterly adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was $1.3 million, a decrease of $3.8 million from the amount reported in the same quarter last year, primarily due to higher production and program- ming expense, increased personnel, increased legal, consulting, and public company costs. (See reconciliation of net loss to adjusted EBITDA below.) The company ended the quar-
ter with $131.3 million in cash and short-term investments. Cash and cash equivalents were $20.4 million, and short-term investments were $110.9 million. Fiscal Year 2025 Finan-
cial Highlights: Newsmax reported total revenues of $189.3 million for the year ended Dec. 31, 2025, representing a 10.7% year-over-year increase. Newsmax reported a net
loss of $99.5 million for full year 2025, largely driven by approximately $79 million in legal settlement expenses, along with stock- based compensation costs, non-cash derivative and warrant liability adjust- ment, and higher production and pro- gramming investments, partially offset by higher broadcasting advertising rev- enues, affiliate fees, and licensing fees. Full-year adjusted EBITDA was
EVANS
$6.5 million, reflecting continued strategic investments in content, tal- ent, technology, and public company infrastructure.
N
ewsmax CEO Christopher Ruddy announced the appointment of
David Evans to the company’s Board of Directors. Evans brings extensive public
company financial leadership and digital media expertise to the company as it continues to expand as one of America’s leading news networks. “David’s professional background,
specifically his deep experience scaling digital businesses, aligns perfectly with Newsmax’s strategic priorities as we continue to grow our streaming services and expand our overall reach,” Ruddy said. Evans combines deep expertise in
financial oversight, SEC reporting, and corporate governance with hands- on experience scaling digital media businesses across streaming, OTT TV, podcasting, e-commerce, digital advertising, and social media. Most recently, Evans was chief
operating oficer of Salem Media Group from 2022 to 2025, where he directed all operations with specific oversight of the digital media, e-commerce, and finance functions. He previously served as Division President of New Media & Publishing from 2007 to 2021. As its executive vice president and chief financial oficer from 2000 to 2006, he helped triple the company’s stock price,
executed a $93 million equity offering at a then-record EBITDA multiple for the radio broadcast industry, and secured more than $500 million in debt capital at industry-leading terms while guiding the company’s strategic pivot to digital media. Evans joins the six existing members of the Newsmax Board including Ruddy, former U.S. Secretary of Labor Alex Acosta, Ambassador Nancy Brinker, Chris Nixon Cox, Ambassador Paula Dobriansky, and David Gandler.
MAY 2026 | NEWSMAX 31
EVANS/LINKEDIN
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