Trump Media and Technology Group posted a loss of $327.6 million for the first quarter ended March 31, which included $311 million in non-cash expenses related to its merger with Digital World Acquisition Corp.
Revenue for the company was $770,500, down from $1.1 million the previous year, with a focus on long-term product development over short-term revenue according to Trump Media.
Trump Media fired an auditor charged with massive fraud, causing delays in filing the earnings report, after going through multiple auditors previously.
Shares of Trump Media rose slightly in after-hours trading, reaching $48.74 per share, though it had peaked at almost $80 in late March since beginning trading on Nasdaq.
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