NEW FINANCIALS FROM MUSK'S X DEBT SALE SHOW CHANGING COMPANY

Summary from the TLDR newsletter

X is evolving from a social media platform powered by advertisers to one betting on revenue generated from AI and subscriptions. This change appears to have had a positive effect as the company recently posted $91 million in revenue tied to data licensing and subscriptions in February, a 30% increase from last year. The company boasted nearly $1.5 billion in annual earnings before interest, taxes, depreciation, and amortization. X now has almost $1.1 billion cash on hand, but it still owes $12.5 billion in expensive debt.