MiniMax Releases Its First Annual Report After Listing, Annual Revenue Reaches 79.038 Million USD
On March 2, 2026, MiniMax released its first annual report after listing, showcasing the development path of an "AI Platform Company." Total revenue for 2025 reached 790.4 million USD, a year-on-year increase of 158.9%, with over 70% coming from overseas. Gross profit margin increased to 25.4%, indicating the emergence of scale effects. The company reported a net loss of 1.872 billion USD, mainly due to the revaluation of financial liabilities; adjusted net loss was 200 million USD. The report highlights both high growth and financial structure challenges.