Trump Media & Technology Group lost more than $300 million during the first quarter and generated very little revenue, the owner of Truth Social announced in a press release Monday. The results will raise additional questions about the multi-billion dollar valuation on the newly public company, which is majority owned by former President Donald Trump. Trump Media (DJT) reported a loss of $327.6 million during the first three months of the year, compared with a loss of $210,300 a year earlier. In April, the conservative-friendly social network experienced a 19% year-over-year drop in average daily active US users on iOS and Android to just 113,000, according to market research firm Similarweb. Rival X (formerly known as Twitter) had more than 34 million users on iOS and Android, while Instagram's Threads had 3.5 million.