NMAX — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-14

• We are a global media company delivering news, opinion and entertainment content across multiple television and digital platforms. We serve audiences through our linear television network, streaming and digital properties, and related distribution channels, with a focus on producing compelling progr…

• We have developed a significant audience, reaching over 50 million Americans each month through our television broadcasts and multi-platform content, and have demonstrated sustainable growth. Revenues are up 27% comparing the three months ended March 31, 2026 compared to the same period in 2024. New…

• The following table sets forth our results of operations data for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025:

• Revenues increased by $6.4 million, or 14.0%, for the three months ended March 31, 2026, compared to the three months ended March 31, 2025. Affiliate fee revenues increased by $5.6 million due to new contractual relationships as well as rate increases which took effect in late 2025 and 2026. Licensi…

• Cost of revenues increased by $5.9 million, or 22.8%, for the three months ended March 31, 2026 compared to the three months ended March 31, 2025. The increase was due to increased production headcount, programming and production costs on our main Newsmax TV channel as well as continued investment i…

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• Founded in 1998 as a digital media brand, Newsmax Inc. entered the cable news market in 2014. Since then, the network has had an astonishing rise, climbing into the top tier of cable channels, and has remained the fourth highest-rated cable news channel in the United States, just behind CNN. Accordi…

• We have developed a significant audience, reaching over 40 million Americans each month through our television broadcasts and multi-platform content, and we have demonstrated remarkable growth with revenues up 309% since 2019.

• In June 2024, a Reuters global survey of media found Newsmax Inc. was one of the nation’s “top news brands,” identifying the network as one of only 12 major media outlets Americans are turning to regularly.

• Newsmax Inc. is a holding company that owns 100% of the equity interests of its operating company Newsmax Media and the other Subsidiaries operate the businesses described in this Quarterly Report, and none of those businesses are operated by Newsmax Inc.

• Newsmax Inc. is a television broadcaster and multi-platform content publisher that produces original news and editorial content for consumers through various media outlets, including through its TV news channels, digital and print publications, its popular website Newsmax.com and affiliated sites, i…

Text added vs the prior filing · source: 10-Q · 2026-05-14

• The Company has exposure to two types of market risk: changes in interest rates and equity prices. The Company neither holds nor issues financial instruments for trading or hedging purposes. The following sections provide quantitative and qualitative information on the Company’s exposure to interest…

• We had $17.2 million of cash and cash equivalents at March 31, 2026. These amounts were generally invested in money market funds and time deposits. Interest paid on such funds fluctuates with the prevailing interest rate. Based on our cash and cash equivalents balance as of March 31, 2026, and assum…

• A portion of our investment portfolio consists of marketable equity securities carried at fair value, with changes in fair value recognized in earnings. We had $21.6 million in marketable equity securities as of March 31, 2026, which represented the carrying value of these securities. A hypothetical…

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information otherwise required under this Item.

Text added vs the prior filing · source: 10-Q · 2026-05-14

• We are responsible for establishing and maintaining adequate internal control over financial reporting as such term is defined by Exchange Act Rule 13a-15(f). Our internal controls are designed to provide reasonable assurance as to the reliability of our financial statements for external purposes in…

• Our management, with the participation of our CEO and CFO, evaluated the effectiveness of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15(d)-15(e) of the Exchange Act. In addition, management evaluated the effectiveness of our internal control over financial reporting ba…

• Because of the material weaknesses described below, management has concluded that the Company’s internal control over financial reporting was not effective as of March 31, 2026. A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such th…

• Management's Remediation Plan for Material Weaknesses in Internal Control over Financial Reporting

• The Company remains actively engaged in remediation efforts and is committed to strengthening its corporate governance and internal control environment. However, each material weakness will not be considered remediated until the applicable controls have operated for a sufficient period of time and m…

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• Our management, with the participation of our CEO and CFO, evaluated the effectiveness of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15(d)-15(e) of the Exchange Act, as of September 30, 2025. Based on such evaluation, our CEO and CFO have concluded that as of September…

• Our management identified material weaknesses in our internal control over financial reporting as of December 31, 2024. A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misst…

• We identified the following material weaknesses in our internal control over financing reporting:

• As of September 30, 2025, the material weaknesses previously identified in our internal control over financial reporting continue to exist. The Company remains actively engaged in remediation efforts and is committed to strengthening its internal control environment.

• During 2025, we have undertaken, and continue to undertake, several remediation measures designed to address these material weaknesses. These efforts include, among other actions, hiring additional accounting personnel with appropriate technical expertise, engaging qualified third-party advisors to …

Text added vs the prior filing · source: 10-Q · 2026-05-14

• On August 15, 2025, Newsmax Media, Inc. and Newsmax Broadcasting, LLC entered into a settlement agreement with Dominion Voting Systems, Inc. and certain of its affiliates (“Dominion”), pursuant to which such parties agreed to resolve the lawsuit among them for a total amount of $67.0 million. As of …

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• On August 10, 2021, Dominion Voting Systems Corporation, Inc. or certain of its affiliates, an election technology company, filed a complaint against Newsmax Media in the Superior Court of the State of Delaware for defamation in connection with our coverage of the 2020 Presidential election, seeking…

• In addition, on November 3, 2021, Smartmatic USA Corp. or certain of its affiliates, another election technology company, filed a complaint against Newsmax Media in the Superior Court of the State of Delaware for defamation, seeking compensatory, consequential and punitive damages to be determined a…

Text added vs the prior filing · source: 10-Q · 2026-05-14

• 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.

• As we expand internationally through agreements that permit non-U.S. counterparties to distribute, market, or monetize our content and brand, we become increasingly exposed to laws, regulations and government actions in the jurisdictions in which those activities occur. These legal and regulatory re…

• In addition, because we may rely on third-party licensees, distributors, agents or other counterparties in these markets, we may have limited ability to control or monitor full compliance with applicable local legal and regulatory requirements, contractual restrictions, contents, and brand standards…

• Additionally, new or changing laws, regulations or government policies in foreign jurisdictions could require us to modify, restrict or terminate certain international licensing activities, delay market entry, increase compliance, monitoring and enforcement costs, or make certain arrangements commer…

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• Taxing authorities may successfully assert that we should have collected or in the future should collect sales and use, value added or similar taxes, and any such assessments could adversely affect our business, financial condition, and results of operations.

• Sales and use, value added and similar tax laws and rates vary greatly by jurisdiction. Certain jurisdictions in which we do not collect such taxes may assert that such taxes are applicable or that our presence in such jurisdictions is sufficient to require us to collect taxes, which could result in…

• We are subject to risks of doing business in other countries, including those related to tariffs, trade restrictions and government actions.

• We are subject to the risks of doing business internationally, which increasingly include the following:

• •changes in regulatory requirements or other executive branch actions, such as Executive Orders;