TMTG Reports Second Quarter 2024 Results, Signs TV Streaming Deal Page 1

~ Ends second quarter with $344 million in cash on balance sheet and no debt ~

~ Opens First Data Center for Custom Content Delivery Network ~

~ Adds TV streaming platform to Truth Social on iOS, Android and web ~

SARASOTA, Fla., Aug. 9, 2024 (GLOBE NEWSWIRE) — Trump Media and Technology Group Corp. (Nasdaq: DJT) (“TMTG” or the “Company”), operator of the social media platform Truth Social, announced financial results for the fiscal quarter ended June 30, 2024 and today filed its 10-Q with the Securities and Exchange Commission (the “SEC”). TMTG’s quarterly report and financial information were reviewed by its independent registered public accounting firm, Semple, Marchal & Cooper, LLP.

In the second quarter, TMTG continued to strengthen its balance sheet. As of June 30, 2024, TMTG’s cash and cash equivalents balance was $344 million with no debt. The Company believes its strong balance sheet will enable the expansion and refinement of its new TV streaming platform, Truth+, which launched in August 2024 on the Company’s custom content delivery network (“CDN”).

Thanks to the timely creation of TMTG’s new CDN and the subsequent launch of TV streaming via Truth Social’s Android, iOS and web versions, TMTG was able to officially close the transaction for the streaming technology today, giving the company the right to secure the source code in the future.

Devin Nunes, CEO of TMTG, said: “TMTG has opened the Truth Social platform domestically and internationally, gone public on NASDAQ, built a strong balance sheet with no debt, created its own hardware infrastructure and software system to operate a unique content delivery network, and launched fast, reliable, high-quality TV streaming across the Truth Social platform – all in less than three years since our inception. In addition to our plans to build out Truth+ with a range of new features, we continue to explore numerous other opportunities for growth, including mergers and acquisitions. From the beginning, our intention has been to make Truth Social an impenetrable beachhead of free expression, and by taking extraordinary steps to minimize our reliance on Big Tech, we are doing just that.”