Newsmax (NMAX) Investor presentation summary

Growth trajectory and audience reach

• Achieved a total audience reach of over 58 million across 100+ countries, ranking #4 in cable news by reach and ratings.

• Demonstrated strong viewership and social media growth, with a 21% increase in social followers and 28% viewership growth for Newsmax2 year-over-year.

• Expanded across live cable TV, free and paid streaming, and digital platforms, with significant app downloads and paid subscribers.

• Maintains a highly loyal, action-oriented audience, including high-income earners and digitally engaged users.

Financial performance and revenue drivers

• Reported FY2025 revenue of $189M, with 81% from broadcast and 19% from digital, and a 28% revenue CAGR from 2019-2025.

• 4Q FY25 revenues reached $52.2M, up 9.6% YoY, with broadcast revenue up 12.6%.

• Affiliate fee rates are set to reprice, presenting significant upside as current rates trail peers by an average of 7x.

• Advertising revenue has grown 6x since 2020, with top national brands joining as advertisers.

• FY26 revenue guidance is $212M–$216M, up 13% YoY, driven by affiliate fee expansion and new distribution channels.

Strategic positioning and market opportunity

• Positioned as a multi-channel, multi-media platform appealing to American values and not tied to a media conglomerate.

• Capitalizes on secular shifts: increased political engagement, fragmented news ecosystem, and demand for live content.

• Expanding internationally with new licensing and distribution deals, including live AI dubbing and Newsmax en Español.

• Focused on innovative monetization, cross-platform integration, and underleveraged verticals like finance and health.