Shares of President Trump’s social media company lost as much as a quarter of their value Monday after a new filing with the Securities and Exchange Commission disclosed the company lost $58 million on $4.1 million in revenue during 2023. 

Trump Media & Technology Group, the parent company of Truth Social, generated $751,000 in the fourth quarter of the fiscal year, a decline of 39 percent year-over-year, according to the filings. All of the company’s revenue comes from advertising on the platform, while most of its expenses are connected to interest on debt. 

Trump Media was valued at more than $7 billion when it went public last week. Although the company’s shares are up nearly 200 percent over the initial offering price, that figure could drop as the possibility of Trump Media becoming profitable and generating positive cash flow hangs in balance.

Trump Media said in the Monday filing it “expects to continue to incur operating losses and negative cash flows from operating activities for the foreseeable future, as it works to expand its user base, attracting more platform partners and advertisers.”

The company’s main competitor, Twitter, now known as X, raked in about $665 million in revenue the year before it went public. It earned $5.2 billion in the final year before it was purchased by its current owner, Elon Musk.

In Monday afternoon trading, Trump Media was at about $47 a share after opening the day at nearly $60 a share and trading as high as $66 a share late last week.