Newsmax Inc. Class B (NMAX)
NYSE:NMAX
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Newsmax Inc. Class B
(NYSE:NMAX)
Select Model
Select Model
Rating:54Neutral
Price Target:
$8.50
▲(22.30% Upside)
Action:Reiterated
Date:05/21/26
NMAX scores in the mid-range primarily because financial performance is pressured by persistent losses and ongoing cash burn despite revenue growth and modest current leverage. The latest earnings call adds support through reiterated growth guidance and sharply improved net loss, while technicals are mildly bullish near-term but still below the 200-day trend. Valuation remains constrained by a negative P/E and no stated dividend yield.
Positive Factors
Broadcast & affiliate revenue growth
Large affiliate fee gains and stronger broadcast revenue reflect durable carriage and contract leverage that scale with ratings. These higher‑margin distribution fees provide a structural path to revenue stability and margin improvement as the company converts audience gains into recurring carriage and licensing contracts.
Negative Factors
Persistent negative cash flow
Consistent operating and free cash flow deficits indicate the business consumes cash to run and grow. Even with $129M in liquidity, continued cash burn constrains reinvestment, raises refinancing risk over several quarters, and creates pressure to convert audience gains into sustainable positive cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Broadcast & affiliate revenue growth
Large affiliate fee gains and stronger broadcast revenue reflect durable carriage and contract leverage that scale with ratings. These higher‑margin distribution fees provide a structural path to revenue stability and margin improvement as the company converts audience gains into recurring carriage and licensing contracts.
Read all positive factors
Newsmax Inc. Class B (NMAX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.06B
Dividend YieldN/A
Average Volume (3M)1.46M
Price to Earnings (P/E)―
Beta (1Y)-0.62
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees400
SectorCommunication Services
Sector Strength97
IndustryBroadcasting
Share Statistics
EPS (TTM)-0.65
Shares Outstanding89,921,350
10 Day Avg. Volume1,623,781
30 Day Avg. Volume1,460,820
Financial Highlights & Ratios
PEG Ratio-0.33
Price to Book (P/B)9.41
Price to Sales (P/S)5.27
P/FCF Ratio-14.87
Enterprise Value/Market Cap0.72
Enterprise Value/Revenue3.87
Enterprise Value/Gross Profit10.27
Enterprise Value/Ebitda-9.68
Forecast
1Y Price Target
$18.50Price Target Upside166.19% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.11
Revenue Forecast (FY)$213.75M
Newsmax Inc. Class B Business Overview & Revenue Model
Company Description
Newsmax Inc., established in 1998 and based in Boca Raton, Florida, functions as a multifaceted media enterprise. Operating through its various subsidiaries, the company specializes as both a television broadcaster and a comprehensive content publ...
How the Company Makes Money
Newsmax primarily makes money by monetizing its news content through (1) advertising and (2) distribution-related fees tied to carriage of its TV network, alongside (3) digital monetization. Advertising revenue is generated by selling commercial t...
Newsmax Inc. Class B Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 25, 2026
Earnings Call Sentiment Positive
The call highlighted strong top-line growth driven by broadcast/affiliate and licensing gains, meaningful audience and social media momentum, a large increase in licensing revenue, and improved net loss and liquidity. Offsetting these positives were declines in digital, advertising and subscription revenues, a small adjusted EBITDA loss, and higher content and operating costs. Management reiterated full-year revenue guidance and emphasized multi-platform growth and international expansion. Overall, the operational and audience trends appear encouraging, though near-term profitability and digital ad/subscription pressures remain areas to monitor.Positive Updates
Total Revenue Growth
Total revenues of $51.7 million in Q1 2026, up 14% year-over-year.
Negative Updates
Digital Revenue Decline
Total digital revenues declined 12.7% year-over-year to $8.0 million, driven by decreases in advertising, subscription revenue and product sales.
Read all updates
Q1-2026 Updates
Positive
Negative
Total Revenue Growth
Total revenues of $51.7 million in Q1 2026, up 14% year-over-year.
Read all positive updates
Company Guidance
Newsmax reiterated full‑year 2026 revenue guidance of $212 million to $216 million (about 13% growth at the midpoint), supported by a strong Q1: $51.7M total revenue (+14% YoY), Broadcast revenue $43.7M (+20.8%) and Digital $8.0M (-12.7%); revenue components included Advertising $27.2M (-5.8%), Affiliate fees $13.0M (+75.2%), Subscriptions $6.4M (-7.9%), Product sales $1.5M (-3.5%) and Licensing $3.5M (vs $0.437M a year ago). The company ended the quarter with $129M in cash and short‑term investments, reported a net loss of $2.2M (an 87.3% improvement vs. -$17.2M prior year) and adjusted EBITDA of -$0.4M (down $0.8M YoY), cited audience momentum (30.4M total viewers, 13.3M adults 35–64, social followers 24.7M at quarter end and >25M in May, Newsmax2 streaming news hours +22% sequential, and total viewership +29% vs Q4 2025) and said it expects structural, higher‑margin growth led by affiliate fee expansion and licensing, an improved operating profile through the year, and ongoing programming/OTT investments.Newsmax Inc. Class B Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
14
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 195.61M | 189.30M | 171.02M | 135.28M | 135.31M |
| Gross Profit | 73.63M | 71.63M | 84.05M | 55.82M | 56.37M |
| EBITDA | -78.18M | -93.14M | -65.91M | -38.05M | -17.34M |
| Net Income | -84.45M | -99.50M | -72.17M | -41.78M | -19.94M |
Balance Sheet | |||||
| Total Assets | 226.26M | 239.84M | 146.07M | 71.61M | 66.87M |
| Cash, Cash Equivalents and Short-Term Investments | 129.10M | 131.33M | 82.36M | 7.26M | 11.44M |
| Total Debt | 8.32M | 9.36M | 4.10B | 12.41M | 14.98M |
| Total Liabilities | 119.23M | 133.79M | 155.14M | 95.19M | 48.77M |
| Stockholders Equity | 107.02M | 106.05M | -9.07M | -23.58M | 18.10M |
Cash Flow | |||||
| Free Cash Flow | -74.19M | -67.11M | -49.68M | -4.75M | -13.20M |
| Operating Cash Flow | -71.37M | -64.45M | -48.69M | -3.83M | -7.32M |
| Investing Cash Flow | -24.22M | -53.12M | -58.43M | 5.40M | -5.60M |
| Financing Cash Flow | 6.07M | 153.96M | 125.13M | 427.44K | 0.00 |
Newsmax Inc. Class B Risk Analysis
Newsmax Inc. Class B disclosed 63 risk factors in its most recent earnings report. Newsmax Inc. Class B reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Our continued expansion into international markets through licensing arrangements exposes us to legal, regulatory, commercial, and reputational risks that could adversely affect our business, financial condition and results of operations. Q1, 2026
Newsmax Inc. Class B Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
54 Neutral | $1.06B | -12.46 | -79.32% | ― | ― | ― | |
47 Neutral | $1.07B | -8.63 | -7.36% | ― | 1.70% | ― | |
46 Neutral | $598.11M | ― | 15.76% | ― | 2.06% | 77.93% | |
45 Neutral | $273.71M | -2.71 | -7.87% | ― | -13.33% | -299.71% | |
45 Neutral | $446.95M | -3.96 | -3.43% | 6.45% | -14.49% | -164.07% |
* Communication Services Sector Average
NMAX
Newsmax Inc. Class B
8.19
-4.48
-35.36%
SSP
E. W. Scripps Company Class A
2.99
0.11
3.82%
GTN
Gray Television
3.92
0.01
0.33%
IHRT
iHeartMedia
3.99
2.30
136.09%
FUBO
fuboTV
9.83
-29.29
-74.87%
Newsmax Inc. Class B Corporate Events
Executive/Board ChangesShareholder Meetings
Newsmax Stockholders Approve Directors and Auditor at Meeting
Positive
May 20, 2026
On May 18, 2026, Newsmax Inc. held its 2026 Annual Meeting of Stockholders, with approximately 90.97% of eligible common shares represented in person or by proxy, underscoring strong shareholder engagement. At the meeting, stockholders elected Chr...
Business Operations and StrategyFinancial Disclosures
Newsmax Posts Strong Q1 Revenue Growth Amid Ongoing Loss
Positive
May 14, 2026
On May 14, 2026, Newsmax Inc. reported first quarter 2026 results showing total revenue of $51.7 million, up 14.0% year over year, driven largely by a 20.8% increase in broadcasting revenue to $43.7 million from higher affiliate fees and expanded ...
Business Operations and StrategyFinancial Disclosures
Newsmax Posts Record 2025 Revenue, Expands Global Reach
Positive
Mar 26, 2026
On March 26, 2025, Newsmax Inc. reported record full-year 2025 revenues of $189.3 million, up 10.7% year over year and at the high end of guidance, driven largely by a 17.3% increase in broadcast revenues to $153.3 million despite a post-election ...
Executive/Board ChangesRegulatory Filings and Compliance
Newsmax Inc. Appoints Independent Director to Audit Committee
Positive
Mar 23, 2026
On March 19, 2026, Newsmax Inc.’s board of directors appointed David Evans as an independent director to fill an existing vacancy and named him to the audit committee alongside Rene Alexander Acosta and Paula J. Dobriansky, formalizing his r...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.