Shanghai-based MiniMax reports 2025 revenue up 159% YoY to $79M, above $71.4M est., and a $1.87B net loss, up from a $465.2M net loss in 2024, after its IPO
Interesting report here from Minimax as the 1st to report among AI shops. $79m revenue & 20m gross profit. Gross margin improved from 12 to 25% in 2025. Their R&D expenses was $252.8m I don't know what is “Fair Value Loss on Financial Liabilities”, but it's said to be “related [i…
Our first earnings as a HKEX public company 2025 results: → $79M revenue (+159% YoY), 70%+ international → Gross margin: 12.2% → 25.4% → 236M+ users across 200+ countries → 214K enterprise clients & developers In 2026, we're evolving from a model company to an AI platform