MiniMax: Net loss of $1.872 billion for the fiscal year ending December 31, 2025, compared to a net loss of $465 million in the same period last year.

MiniMax announces that revenue in 2025 is $79.038 million, compared to $30.523 million in the same period last year; net loss is $1.872 billion, compared to a net loss of $465 million last year. Revenue from AI-native products increased by 143.4% from $21.8 million in 2024 to $53.1 million in 2025, mainly driven by increased user engagement, stronger willingness to pay for products, and ongoing promotion and commercialization of products like Haijiao AI.

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