For the three-month period that ended 31 March, the company posted a loss of $327.6m, which it said included $311m in non-cash expenses related to its merger with a company called Digital World, which was essentially a pile of cash looking for a target to merge with.

It’s an example of a special purpose acquisition company, or Spac, which can give young companies quicker and easier routes to getting their shares trading publicly.

A year earlier, Trump Media posted a loss of $210,300.

Shares of Trump Media climbed 36 cents to $48.74 in after-hours trading. The stock, which trades under the ticker symbol “DJT”, began trading on Nasdaq in March and peaked at nearly $80 in late March.