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Newsmax Inc. Class B
(NYSE:NMAX)
Select Model
Select Model
Rating:57Neutral
Price Target:
$11.50
▲(53.33% Upside)
Action:Reiterated
Date:08/17/26
The score is held back primarily by weak underlying financial statements (ongoing cash burn, historical losses, and past balance-sheet stress), partially offset by a strong recent earnings-call narrative with improved profitability metrics and reiterated growth guidance. Technicals are constructive with strong trend/momentum, but overbought readings add near-term risk, while valuation remains unattractive due to a negative P/E and no dividend support.
Positive Factors
Revenue Growth and Higher-Margin Mix
Strong broadcasting growth, rapidly expanding affiliate fees and licensing revenue are improving the business mix. These higher-margin streams can support operating leverage and make future revenue growth more profitable if contractual expansion continues.
Negative Factors
Persistent Negative Cash Generation
Despite narrower accounting losses, the company has not demonstrated consistent cash conversion. Continued cash consumption can constrain investment capacity, increase reliance on external funding and weaken resilience if profitability improvement does not persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth and Higher-Margin Mix
Strong broadcasting growth, rapidly expanding affiliate fees and licensing revenue are improving the business mix. These higher-margin streams can support operating leverage and make future revenue growth more profitable if contractual expansion continues.
Read all positive factors
Newsmax Inc. Class B (NMAX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.39B
Dividend YieldN/A
Average Volume (3M)1.04M
Price to Earnings (P/E)―
Beta (1Y)-0.26
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees500
SectorGeneral
Sector StrengthN/A
IndustryBroadcasting
Share Statistics
EPS (TTM)-0.05
Shares Outstanding89,921,350
10 Day Avg. Volume529,121
30 Day Avg. Volume1,039,673
Financial Highlights & Ratios
PEG Ratio-0.31
Price to Book (P/B)9.41
Price to Sales (P/S)5.27
P/FCF Ratio-14.87
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$18.50Price Target Upside146.67% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.05
Revenue Forecast (FY)$213.35M
Newsmax Inc. Class B Business Overview & Revenue Model
Company Description
Newsmax Inc. is a holding company, which engages in television broadcasting and multi-platform content publishing that produces original news and editorial content for consumers through various media outlets, including TV new channels, digital and...
How the Company Makes Money
Newsmax Inc. primarily generates revenue through (1) advertising and sponsorship sales tied to its television and digital audiences, where marketers pay for ad placements and sponsored segments; (2) distribution/affiliate fees from pay-TV ecosyste...
Newsmax Inc. Class B Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 12, 2026
Earnings Call Sentiment Positive
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.Positive Updates
Record Revenue and Year‑Over‑Year Growth
Total revenue of $54.1 million in Q2 2026, a record for the company and up 16.5% year‑over‑year. Full‑year revenue guidance reiterated at $212M–$216M (midpoint $214M), implying ~13% growth at the midpoint.
Negative Updates
Digital and Subscription Pressure
Total digital revenues declined 1.3% year‑over‑year to $8.3 million. Subscription revenues decreased 9.9% year‑over‑year to $6.3 million, attributed to lower new customer acquisition.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Revenue and Year‑Over‑Year Growth
Total revenue of $54.1 million in Q2 2026, a record for the company and up 16.5% year‑over‑year. Full‑year revenue guidance reiterated at $212M–$216M (midpoint $214M), implying ~13% growth at the midpoint.
Read all positive updates
Company Guidance
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.Newsmax Inc. Class B Financial Statement Overview
Summary
Income Statement
27
Negative
Balance Sheet
22
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 203.29M | 189.30M | 171.02M | 135.28M | 135.31M |
| Gross Profit | 79.32M | 71.63M | 84.05M | 55.82M | 56.37M |
| EBITDA | -1.65M | -93.14M | -65.91M | -38.05M | -17.34M |
| Net Income | -6.41M | -99.50M | -72.17M | -41.78M | -19.94M |
Balance Sheet | |||||
| Total Assets | 230.28M | 239.84M | 146.07M | 71.61M | 66.87M |
| Cash, Cash Equivalents and Short-Term Investments | 148.30M | 131.33M | 82.36M | 7.26M | 11.44M |
| Total Debt | 11.58M | 9.36M | 4.10B | 12.41M | 14.98M |
| Total Liabilities | 117.10M | 133.79M | 155.14M | 95.19M | 48.77M |
| Stockholders Equity | 113.18M | 106.05M | -9.07M | -23.58M | 18.10M |
Cash Flow | |||||
| Free Cash Flow | -51.61M | -67.11M | -49.68M | -4.75M | -13.20M |
| Operating Cash Flow | -48.27M | -64.45M | -48.69M | -3.83M | -7.32M |
| Investing Cash Flow | 59.46M | -53.12M | -58.43M | 5.40M | -5.60M |
| Financing Cash Flow | 858.93K | 153.96M | 125.13M | 427.44K | 0.00 |
Newsmax Inc. Class B Technical Analysis
Negative
7.50
Price Trends
8.46
Negative
10.45
Negative
Market Momentum
-0.37
Positive
36.59
Neutral
20.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NMAX, the sentiment is Negative. The current price of 7.5 is below the 20-day moving average (MA) of 8.27, below the 50-day MA of 8.46, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of -0.37 indicates Positive momentum. The RSI at 36.59 is Neutral, neither overbought nor oversold. The STOCH value of 20.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NMAX.
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 0 New Risks
Newsmax Inc. Class B Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | $1.39B | -207.13 | -5.93% | ― | ― | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | $516.64M | -10.51 | -0.94% | 8.04% | -11.30% | -138.09% | |
51 Neutral | $1.12B | -8.00 | -9.15% | ― | 1.70% | ― | |
47 Neutral | $457.38M | -1.52 | 15.12% | ― | 3.06% | 24.95% | |
45 Neutral | $303.03M | -0.23 | -127.81% | ― | -14.18% | -2948.71% |
* General Sector Average
NMAX
Newsmax Inc. Class B
10.75
-4.16
-27.90%
SSP
E. W. Scripps Company Class A
3.27
0.07
2.19%
GTN
Gray Media
4.94
-0.71
-12.61%
IHRT
iHeartMedia
2.79
0.55
24.55%
FUBO
fuboTV
10.23
-31.41
-75.43%
Newsmax Inc. Class B Corporate Events
Business Operations and StrategyFinancial Disclosures
Newsmax Posts Record Q2 Revenue and First Public Profit
Positive
Aug 13, 2026
Newsmax Inc., a NYSE-listed center-right media company, operates the Newsmax cable channel and associated digital properties, including the Newsmax App, Newsmax.com, and Newsmax Magazine. The fourth highest-rated cable news network in the U.S., it...
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...
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.