(NewsNation) — Florida Gov. Ron DeSantis on Sunday has officially dropped out of the 2024 presidential race.

DeSantis suspended his Republican presidential campaign on the eve of the New Hampshire primary, posting on social media, “Success is not final, failure is not fatal: it is the courage to continue that counts. – Winston Churchill.'”

In a video announcing the end of his campaign DeSantis said, “Following our second-place finish in Iowa, we’ve prayed and deliberated on our way forward. If there was anything I could do to produce a favorable outcome, more campaign stops, more interviews, I would do it. But I can’t ask our supporters to volunteer their time and donate their resources if we don’t have a clear path to victory. Accordingly, I am today suspending my campaign.”

In the video, DeSantis endorses former President Donald Trump. saying, “It’s clear.”

“It’s clear to me that a majority of Republican primary voters want to give Donald Trump another chance,” the governor continued. “While I have had disagreements with Donald Trump such as on the coronavirus pandemic and his elevation of Anthony Fauci, Trump is superior to the current incumbent Joe Biden. That is clear.” 

DeSantis said he signed the pledge to support the Republican nominee, saying “I will honor that pledge.”

The Trump campaign said it is “honored” by DeSantis’ endorsement, saying the former president is the clear choice for Republicans.

“Nikki Haley is the candidate of the globalists and Democrats who will do everything to stop the America First movement. From higher taxes, to decimating Social Security and Medicare, and to open borders, she represents the views of Democrats more than the views of Republicans,” Trump’s campaign said in a statement responding to DeSantis suspending his campaign. “It’s time to choose wisely.”

DeSantis entered the 2024 presidential contest with major advantages in his quest to take on Trump, and early primary polls suggested he was in a strong position to do just that.

DeSantis and his allies amassed a political fortune well over $100 million and he boasted a significant legislative record on issues important to many conservatives, like abortion and the teaching of race and gender issues in schools.

Such advantages did not survive the reality of presidential politics in 2024.

From a high-profile announcement that was plagued by technical glitches, to constant upheavals, to his staff and campaign strategy, DeSantis struggled to find his footing in the primary.

He lost the Iowa caucuses — which he had vowed to win — by 30 percentage points to Trump.

GOP presidential candidate Nikki Haley responded to the DeSantis announcement on Sunday.

“I will just say to Ron, he ran a great race. He’s been a good governor. And we wish him well. Having said that, it’s now one fella and one lady left,” she said. “May the best woman win.”

In an advisory to the media, the DeSantis campaign canceled a meet-and-greet event in Manchester, New Hampshire, saying, the former candidate “will remain in Tallahassee, Florida today.”

And now, DeSantis’ political future is in question after suspending his presidential bid after just one voting contest.

The 45-year-old is term-limited as Florida governor.

The Hill and the Associated Press contributed to this report