Newsmax Inc. Class B (NMAX)
NYSE:NMAX
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Newsmax Inc. Class B
(NYSE:NMAX)
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Rating:45Neutral
Price Target:
$5.50
▲(1.29% Upside)
Action:ReiteratedDate:04/02/26
The score is held down primarily by weak financial quality (ongoing losses, poor cash generation, and balance-sheet uncertainty) and bearish technicals (below key moving averages with negative momentum). Offsetting factors include supportive FY2026 revenue growth guidance and operational momentum in broadcasting/affiliate fees, but profitability and execution risks remain substantial.
Positive Factors
Broadcasting revenue growth and audience scale
Consistent, double-digit broadcast revenue growth and large linear audience provide a durable core revenue base tied to advertising and carriage fees. Strong ratings and reach support pricing power with advertisers and distributors and underpin longer-term monetization beyond digital cycles.
Negative Factors
Widening net loss and EBITDA deterioration
A large FY2025 net loss and negative adjusted EBITDA reduce retained capital and limit reinvestment capacity. The magnitude—largely from a significant legal settlement plus higher operating costs—creates a higher bar for management to translate revenue growth into sustainable, positive profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Broadcasting revenue growth and audience scale
Consistent, double-digit broadcast revenue growth and large linear audience provide a durable core revenue base tied to advertising and carriage fees. Strong ratings and reach support pricing power with advertisers and distributors and underpin longer-term monetization beyond digital cycles.
Read all positive factors
Newsmax Inc. Class B (NMAX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$701.17M
Dividend YieldN/A
Average Volume (3M)843.07K
Price to Earnings (P/E)―
Beta (1Y)-1.14
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees400
SectorCommunication Services
Sector Strength97
IndustryBroadcasting
Share Statistics
EPS (TTM)-0.03
Shares Outstanding89,889,824
10 Day Avg. Volume1,186,689
30 Day Avg. Volume843,069
Financial Highlights & Ratios
PEG Ratio-0.33
Price to Book (P/B)<0.01
Price to Sales (P/S)5.27
P/FCF Ratio-14.87
Enterprise Value/Market Cap-15.80K
Enterprise Value/Revenue-58.54K
Enterprise Value/Gross Profit-154.64K
Enterprise Value/Ebitda116.76K
Forecast
1Y Price Target
$18.50Price Target Upside240.70% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.05
Revenue Forecast (FY)$213.05M
Newsmax Inc. Class B Business Overview & Revenue Model
Company Description
Newsmax Inc., through its subsidiaries, operates as television broadcaster and multi-platform content publisher. It operates in two segments broadcasting and digital. The company produces and licenses news, business news, and lifestyle content com...
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:Mar 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 14, 2026
Earnings Call Sentiment Neutral
The call highlighted solid top-line momentum driven by broadcasting, advertising and affiliate fee growth, expanded distribution (domestic and international), improved liquidity and a positive FY2026 revenue outlook (~13% growth at midpoint). However, meaningful near-term obstacles remain: a widened FY2025 net loss (-$99.5M), negative adjusted EBITDA, a large one-time legal settlement (~$78.6M), digital revenue declines and slower-than-desired Newsmax+ subscription traction. Management plans continued investment in programming and expects operating leverage and reduced legal/transition costs to improve profitability in 2026. Overall, positives around audience growth, distribution and guidance are balanced by substantial profitability and execution headwinds.Positive Updates
Full-Year Revenue Growth
Total revenue for fiscal 2025 was $189.3 million, up 10.7% year-over-year, finishing at the high end of guidance.
Negative Updates
Widening Net Loss
Reported full-year net loss of $99.5 million in FY2025, a larger loss versus $72.2 million in FY2024 (loss widened by ~37.8% year-over-year), primarily driven by $78.6M in legal settlement expenses, stock-based comp, noncash derivative/warrant adjustments and higher programming investments.
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Q4-2025 Updates
Positive
Negative
Full-Year Revenue Growth
Total revenue for fiscal 2025 was $189.3 million, up 10.7% year-over-year, finishing at the high end of guidance.
Read all positive updates
Company Guidance
Newsmax guided fiscal 2026 revenue of $212 million to $216 million (midpoint $214 million), about 13% growth year‑over‑year versus FY2025 revenue of $189.3 million, driven primarily by affiliate‑fee expansion alongside continued advertising and licensing upside; management said this growth is structural (not reliant on political ad cycles) and expects improved operating leverage as legal and public‑company transition expenses decline. Key FY2025 metrics cited as context include total broadcasting revenue $153.3 million (+17.3%), digital revenue $35.9 million (‑10.9%), advertising $120.3 million (+10.2%), affiliate fees $30.6 million (+14.9%), subscription revenue $27.5 million (+2.6%) with Newsmax+ >260,000 paid subscribers, product sales $7.3 million (+20.7%), other/licensing $3.6 million (from $2.3 million), a full‑year net loss of $99.5 million and adjusted EBITDA loss of $6.5 million, and a strong balance sheet with ~$131.3 million in cash and short‑term investments and no debt.Newsmax Inc. Class B Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
10
Very Negative
Cash Flow
12
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 189.30M | 171.02M | 135.28M | 135.31M |
| Gross Profit | 71.63M | 84.05M | 55.82M | 56.37M |
| EBITDA | -93.53M | -65.91M | -38.05M | -17.34M |
| Net Income | -99.50M | -72.17M | -41.78M | -19.94M |
Balance Sheet | ||||
| Total Assets | 10.00T> | 146.07M | 71.61M | 66.87M |
| Cash, Cash Equivalents and Short-Term Investments | 20.43T | 82.36M | 7.26M | 11.44M |
| Total Debt | 9.36T | 4.10B | 12.41M | 14.98M |
| Total Liabilities | 10.00T> | 155.14M | 95.19M | 48.77M |
| Stockholders Equity | 10.00T> | -9.07M | -23.58M | 18.10M |
Cash Flow | ||||
| Free Cash Flow | -67.11M | -49.68M | -4.75M | -13.20M |
| Operating Cash Flow | -64.45M | -48.69M | -3.83M | -7.32M |
| Investing Cash Flow | -53.12M | -58.43M | 5.40M | -5.60M |
| Financing Cash Flow | 153.96M | 125.13M | 427.44K | 0.00 |
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% | |
53 Neutral | $563.06M | -5.52 | -3.00% | 6.45% | -3.32% | -69.63% | |
52 Neutral | $339.20M | -3.48 | 1.81% | ― | -3.27% | 86.01% | |
49 Neutral | $1.35B | 5.65 | 41.79% | ― | 1.70% | ― | |
48 Neutral | $456.71M | -1.37 | 27.00% | ― | 1.39% | 61.75% | |
45 Neutral | $701.17M | -10.03 | >-0.01% | ― | ― | ― |
* Communication Services Sector Average
NMAX
Newsmax Inc. Class B
5.43
-29.28
-84.36%
SSP
E. W. Scripps Company Class A
3.81
1.42
59.41%
GTN
Gray Television
4.85
1.40
40.46%
IHRT
iHeartMedia
3.28
2.06
168.85%
FUBO
fuboTV
12.46
-22.58
-64.44%
Newsmax Inc. Class B Corporate Events
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.