12:38 PM EDT, 05/21/2024 (MT Newswires) -- (Updates with the latest stock price movement in the headline and first paragraph.)

Trump Media & Technology's ( DJT ) shares were down by 9.5% in recent Tuesday trading, a day after the company reported a Q1 adjusted loss before interest, tax, depreciation, and amortization of $12.1 million, compared with a $3.63 million loss a year earlier.

Revenue in the three months ended March 31 fell to $770,500 from $1.12 million a year earlier, the company said Monday in a regulatory filing.

The company said there was no "substantial doubt" regarding its ability to continue as a going concern as of March 31, with the "substantial doubt" as of Dec. 31 "mitigated."

The company said it had "sufficient" working capital to fund operations for at least the next 12 months.

Price: 43.63, Change: -4.75, Percent Change: -9.83