NEWSMAX INC Financials
This page shows NEWSMAX INC (NMAX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
External financing rather than operating momentum is the dominant mechanic, as higher sales coincided with weaker unit economics and deeper cash burn.
From FY2024 to FY2025, gross margin compressed from45.6% to39.3% . At the same time, free cash flow margin fell from-29.1% to-56.6% , showing that added revenue arrived with less gross profit and a much heavier cash drain, not a stronger earnings engine.
Losses are showing up in cash: FY2025 net loss was
FY2025's balance-sheet repair was real, with equity turning positive at
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of NEWSMAX INC's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
NEWSMAX INC has an operating margin of -52.8%, meaning the company retains $-53 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -40.8% the prior year.
NEWSMAX INC's revenue grew 10.7% year-over-year to $189.3M, a solid pace of expansion. This earns a growth score of 51/100.
NEWSMAX INC carries a low D/E ratio of 1.26, meaning only $1.26 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 76/100, indicating a strong balance sheet with room for future borrowing.
NEWSMAX INC's current ratio of 2.40 indicates adequate short-term liquidity, earning a score of 45/100. The company can meet its near-term obligations, though with limited headroom.
While NEWSMAX INC generated -$104.5M in operating cash flow, capex of $2.7M consumed most of it, leaving -$107.1M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
NEWSMAX INC generates a -93.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.
NEWSMAX INC passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, NEWSMAX INC generates $1.05 in operating cash flow (-$104.5M OCF vs -$99.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
NEWSMAX INC earns $-4310.2 in operating income for every $1 of interest expense (-$99.9M vs $23K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
NEWSMAX INC generated $189.3M in revenue in fiscal year 2025. This represents an increase of 10.7% from the prior year.
NEWSMAX INC's EBITDA was -$93.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 47.0% from the prior year.
NEWSMAX INC reported -$99.5M in net income in fiscal year 2025. This represents a decrease of 37.9% from the prior year.
NEWSMAX INC earned $-0.96 per diluted share (EPS) in fiscal year 2025. This represents an increase of 50.8% from the prior year.
Cash & Balance Sheet
NEWSMAX INC generated -$107.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 115.6% from the prior year.
NEWSMAX INC held $20.4M in cash against $0 in long-term debt as of fiscal year 2025.
Margins & Returns
NEWSMAX INC's gross margin was 39.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 6.3 percentage points from the prior year.
NEWSMAX INC's operating margin was -52.8% in fiscal year 2025, reflecting core business profitability. This is down 11.9 percentage points from the prior year.
NEWSMAX INC's net profit margin was -52.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 10.4 percentage points from the prior year.
NEWSMAX INC's ROE was -93.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
NEWSMAX INC invested $2.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 166.0% from the prior year.
NMAX Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $52.2M+15.4% | $45.3M-2.5% | $46.4M+2.5% | $45.3M-5.0% | $47.7M+9.6% | $43.5M+10.9% | $39.2M-3.4% | $40.6M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $19.2M+20.0% | $16.0M-9.5% | $17.6M-18.6% | $21.7M+2.1% | $21.2M+7.3% | $19.8M+18.2% | $16.7M-17.6% | $20.3M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | -$17.1M-308.7% | $8.2M-4.8% | $8.6M-74.1% | $33.2M+157.1% | -$58.2M-987.3% | $6.6M+8.4% | $6.0M-91.5% | $71.1M |
| Operating Income | -$4.7M+35.0% | -$7.2M+90.6% | -$76.4M-560.2% | -$11.6M-113.6% | -$5.4M+38.4% | -$8.8M-85.1% | -$4.8M+90.7% | -$50.8M |
| Interest Expense | $4K-23.0% | $5K-26.8% | $7K+23.1% | $6K-66.9% | $18K-27.0% | $25K+12.0% | $22K-13.2% | $26K |
| Income Tax | -$70K-226.4% | $56K+475.0% | $10K+93.9% | $5K+124.0% | -$21K-12738.3% | -$162-100.9% | $19K+862.9% | $2K |
| Net Income | -$3.0M+27.8% | -$4.1M+94.5% | -$75.2M-336.2% | -$17.2M-150.2% | -$6.9M+29.5% | -$9.8M-102.3% | -$4.8M+90.5% | -$50.7M |
| EPS (Diluted) | N/A | $-0.03+94.9% | $-0.59-20.4% | $-0.49 | N/A | $-0.29-93.3% | $-0.15+88.2% | $-1.27 |
NMAX Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $239.8M+2.8% | $233.3M-10.2% | $259.8M-6.6% | $278.2M+90.5% | $146.1M | N/A | N/A | N/A |
| Current Assets | $195.5M+1.7% | $192.2M-19.0% | $237.3M-5.9% | $252.1M+107.8% | $121.3M | N/A | N/A | N/A |
| Cash & Equivalents | $20.4M+44.1% | $14.2M-58.1% | $33.8M-73.3% | $126.7M+426.8% | $24.1M-31.3% | $35.0M+426.3% | $6.7M+126.2% | $2.9M |
| Inventory | $2.0M+12.7% | $1.8M+9.6% | $1.6M-12.9% | $1.9M+5.0% | $1.8M | N/A | N/A | N/A |
| Accounts Receivable | $33.4M+9.1% | $30.6M+3.6% | $29.6M+2.2% | $28.9M+2.3% | $28.3M | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $133.8M+5.0% | $127.4M-16.7% | $152.9M+51.7% | $100.8M-64.5% | $283.7M | N/A | N/A | N/A |
| Current Liabilities | $81.3M+15.7% | $70.2M-26.0% | $94.9M+34.2% | $70.7M-42.4% | $122.6M | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $106.0M+0.1% | $106.0M-0.8% | $106.9M-39.8% | $177.4M+228.9% | -$137.6M+24.1% | -$181.3M+9.7% | -$200.7M+0.1% | -$200.9M |
| Retained Earnings | -$327.9M-0.9% | -$324.9M-1.3% | -$320.8M-30.6% | -$245.6M-7.8% | -$227.8M | N/A | N/A | N/A |
NMAX Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.6M+103.9% | -$68.1M-193.4% | -$23.2M-47.7% | -$15.7M+42.8% | -$27.5M-100.0% | -$13.8M-233.8% | -$4.1M-24.5% | -$3.3M |
| Capital Expenditures | $868K-20.7% | $1.1M+77.4% | $616K+743.5% | $73K-85.4% | $499K+72.0% | $290K+137.0% | $122K+43.8% | $85K |
| Free Cash Flow | $1.8M+102.5% | -$69.2M-190.4% | -$23.8M-50.9% | -$15.8M+43.6% | -$28.0M-99.4% | -$14.0M-231.0% | -$4.2M-25.0% | -$3.4M |
| Investing Cash Flow | $3.6M-92.4% | $47.7M+163.6% | -$74.9M-154.0% | -$29.5M+49.4% | -$58.2M-20004.3% | -$290K-137.0% | -$122K-153.4% | $229K |
| Financing Cash Flow | $7K-99.1% | $797K-84.9% | $5.3M-96.4% | $147.9M+97.7% | $74.8M+76.4% | $42.4M+433.1% | $8.0M+45582.8% | -$17K |
| Dividends Paid | $2 | $0-100.0% | $610K+100.1% | $305K | $0 | $0 | $0 | $0 |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NMAX Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.7%+1.4pp | 35.3%-2.7pp | 38.0%-9.8pp | 47.8%+3.3pp | 44.5%-0.9pp | 45.4%+2.8pp | 42.6%-7.4pp | 50.0% |
| Operating Margin | -8.9%+7.0pp | -15.9%+148.6pp | -164.5%-139.0pp | -25.6%-14.2pp | -11.4%+8.8pp | -20.2%-8.1pp | -12.1%+113.1pp | -125.2% |
| Net Margin | -5.7%+3.4pp | -9.1%+152.8pp | -161.9%-123.8pp | -38.0%-23.6pp | -14.4%+8.0pp | -22.4%-10.1pp | -12.3%+112.5pp | -124.8% |
| Return on Equity | -2.8%+1.1pp | -3.9%+66.5pp | -70.3%-60.6pp | -9.7% | N/A | N/A | N/A | N/A |
| Return on Assets | -1.2%+0.5pp | -1.8%+27.2pp | -28.9%-22.7pp | -6.2%-1.5pp | -4.7% | N/A | N/A | N/A |
| Current Ratio | 2.40-0.3 | 2.74+0.2 | 2.50-1.1 | 3.57+2.6 | 0.99 | N/A | N/A | N/A |
| Debt-to-Equity | 1.26+0.1 | 1.20-0.2 | 1.43+0.9 | 0.57+2.6 | -2.06 | N/A | N/A | N/A |
| FCF Margin | 3.4%+156.3pp | -152.9%-101.6pp | -51.3%-16.4pp | -34.9%+23.9pp | -58.7%-26.5pp | -32.3%-21.5pp | -10.8%-2.5pp | -8.4% |
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Frequently Asked Questions
What is NEWSMAX INC's annual revenue?
NEWSMAX INC (NMAX) reported $189.3M in total revenue for fiscal year 2025. This represents a 10.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is NEWSMAX INC's revenue growing?
NEWSMAX INC (NMAX) revenue grew by 10.7% year-over-year, from $171.0M to $189.3M in fiscal year 2025.
Is NEWSMAX INC profitable?
No, NEWSMAX INC (NMAX) reported a net income of -$99.5M in fiscal year 2025, with a net profit margin of -52.6%.
What is NEWSMAX INC's EBITDA?
NEWSMAX INC (NMAX) had EBITDA of -$93.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is NEWSMAX INC's gross margin?
NEWSMAX INC (NMAX) had a gross margin of 39.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is NEWSMAX INC's operating margin?
NEWSMAX INC (NMAX) had an operating margin of -52.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is NEWSMAX INC's net profit margin?
NEWSMAX INC (NMAX) had a net profit margin of -52.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is NEWSMAX INC's return on equity (ROE)?
NEWSMAX INC (NMAX) has a return on equity of -93.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is NEWSMAX INC's free cash flow?
NEWSMAX INC (NMAX) generated -$107.1M in free cash flow during fiscal year 2025. This represents a -115.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is NEWSMAX INC's operating cash flow?
NEWSMAX INC (NMAX) generated -$104.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are NEWSMAX INC's total assets?
NEWSMAX INC (NMAX) had $239.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are NEWSMAX INC's capital expenditures?
NEWSMAX INC (NMAX) invested $2.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is NEWSMAX INC's current ratio?
NEWSMAX INC (NMAX) had a current ratio of 2.40 as of fiscal year 2025, which is generally considered healthy.
What is NEWSMAX INC's debt-to-equity ratio?
NEWSMAX INC (NMAX) had a debt-to-equity ratio of 1.26 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is NEWSMAX INC's return on assets (ROA)?
NEWSMAX INC (NMAX) had a return on assets of -41.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is NEWSMAX INC's cash runway?
Based on fiscal year 2025 data, NEWSMAX INC (NMAX) had $20.4M in cash against an annual operating cash burn of $104.5M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is NEWSMAX INC's Piotroski F-Score?
NEWSMAX INC (NMAX) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are NEWSMAX INC's earnings high quality?
NEWSMAX INC (NMAX) has an earnings quality ratio of 1.05x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can NEWSMAX INC cover its interest payments?
NEWSMAX INC (NMAX) has an interest coverage ratio of -4310.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is NEWSMAX INC?
NEWSMAX INC (NMAX) scores 29 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.