Newsmax, Inc. (NMAX)
NYSECommunication ServicesBroadcastingSnapshot 2026-09-04
$10.63-2.12%
Close 2026-09-04 · 1-day change
NYSECommunication ServicesBroadcastingSnapshot 2026-09-04
Warn: Management is running behind on a stated commitment.
Newsmax aims for $212M to $216M revenue in 2026. Q1 revenue was $51.7M. Operating losses are shrinking, from -$7.2M to -$4.5M. The company is growing international revenue and expanding licensing.
Newsmax is still losing money and profit fell in Q1. Revenue growth may slow. Legal and market risks could hurt the business.
The price is about 9% above our fair value near $8. Analysts expect 14% revenue growth. We see some risk in profit and growth.
Breaks if: Gross profit falls below $19.9M quarterly next year
Sustain gross profit through revenue growth and cost management despite investments in content and technology.
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a turnaround story with a focus on improving operating income and revenue growth. The current thesis state is cautious, as recent performance has been mixed despite some positive earnings surprises.
The market seems to have priced in a level of fragility due to high valuations, which appear unjustified given the company's loss-making status. There is a notable expectations gap, suggesting that investors are anticipating better performance than what has been delivered so far.
Management is on track to achieve its revenue guidance, but operating income improvements are mixed. The near-term risk is elevated, as the company operates in a high-miss-rate industry, which could impact future performance.
The long-term thesis hinges on NMAX's ability to maintain its revenue growth and improve profitability while navigating sector headwinds. Key forward scenarios include the performance of sector bellwethers and management's guidance on future earnings.
The most important moves since the prior daily snapshot.
Yes, our read has strengthened. The latest earnings beat supports a positive outlook. Management also announced a new partnership that indicates growth potential. They reiterated revenue guidance for 2026, which aligns with growth targets. No new threats were identified that could weaken this outlook.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Stated as a priority in 3 of last 3 quarters. Gross profit increased from $19.6 million in 2025-Q1 to $23.3 million in 2026-Q2, supported by growth in high-margin affiliate fee and licensing revenues. Management is maintaining gross profit levels consistent with stated priorities.
“Growth in high-margin affiliate fee and licensing revenue contributed to gross profit.”
“Gross profit was supported by increased affiliate fees and licensing agreements.”
“Gross profit levels maintained through revenue growth and cost control.”
Breaks if: Operating loss worsens or stays below -$4.5M next year
Focus on improving operating income through revenue growth and operating efficiency while investing in content and OTT initiatives.
Stated as a priority in 3 of last 3 quarters. Operating income improved from -$4.7 million in 2025-Q4 to $1.3 million in 2026-Q2, and net income improved from -$2.2 million in 2026-Q1 to $2.9 million in 2026-Q2. Management's focus on operating discipline and revenue mix is delivering improved profitability.
“Improvement in revenue mix and operating discipline allowed strong top-line growth to flow through to the bottom line.”
“We continue to invest behind growth in programming, production and OTT initiatives to support long-term expansion.”
“Operating income remains a focus as we invest in content and distribution to drive growth.”
Breaks if: Annual revenue falls below $212M in 2026
Reiterate full-year 2026 revenue guidance targeting $212 million to $216 million, representing 13% year-over-year growth at midpoint.
Stated as a priority in 3 of last 3 quarters. Management reiterated full-year 2026 revenue guidance of $212 million to $216 million, targeting 13% year-over-year growth at midpoint. Actual quarterly revenues grew from $45.3 million in 2025-Q1 to $54.1 million in 2026-Q2 (16.5% increase), indicating delivery on growth trajectory consistent with guidance.
“We are reiterating our full-year revenue guidance and remain focused on sustainable, long-term shareholder value.”
“The Company is reiterating its previously issued full-year 2026 revenue guidance of $212 million to $216 million.”
“The Company is issuing full-year 2026 guidance as follows: Full-year revenue of $212 million to $216 million, representing 13% year-over-year growth.”
In the next 1 to 3 years, NMAX's performance will depend on its execution against management priorities and the broader sector trends. Not investment advice.