Mega Matrix Inc. (MPU) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Apr 16, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MPU SEC filings page.
Mega Matrix Inc. (MPU) reported $26.1M in revenue for fiscal year 2025, down 27.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The business is shrinking at the revenue line while costs expand, leaving operations dependent on external financing.
FY2025 exposed a sharp operating-leverage break: revenue fell27.9% while operating margin reached-110.8% . Gross profit remained a majority of sales, but SG&A rose from$10.1M in FY2024 to$30.9M in FY2025, pointing to cost structure—not direct production costs—as the main source of deterioration.
Cash conversion reversed: FY2024 produced operating cash flow of
Leverage is modest relative to the operating loss: debt-to-equity fell from 0.4x to 0.2x, indicating liabilities were not the main driver of deterioration. Assets rose to
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Mega Matrix Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Mega Matrix Inc. held $9.1M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $9.9M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Mega Matrix Inc. scores 32/100 among other emerging companies.
Not available for Mega Matrix Inc., and counted as zero in the overall score.
Not available for Mega Matrix Inc., and counted as zero in the overall score.
Mega Matrix Inc. reported revenue of $26.1M in fiscal year 2025, against $36.2M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Mega Matrix Inc. scores 14/100 among other emerging companies.
Mega Matrix Inc.'s operations used $9.9M of cash in fiscal year 2025, against $4.1M generated in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Mega Matrix Inc. scores 10/100 among other emerging companies.
Mega Matrix Inc.'s cash, cash equivalents and investments came to $9.1M at the end of fiscal year 2025, against $4.4M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Mega Matrix Inc. scores 75/100 among other emerging companies.
Mega Matrix Inc. passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, neither operating efficiency signal passes.
Mega Matrix Inc. reported a net loss of $34.3M while operations used $9.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Mega Matrix Inc. reported an operating loss of $28.9M against $102K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Mega Matrix Inc. generated $5.2M in revenue in Q4 2025. This represents a decrease of 49.2% from the same quarter a year earlier. Against the prior quarter it is down 15.0%.
Mega Matrix Inc. reported -$19.5M in net income in Q4 2025. This represents a decrease of 960.2% from the same quarter a year earlier. Against the prior quarter it is down 79.9%.
Mega Matrix Inc. earned -$0.38 per diluted share (EPS) in Q4 2025. Against the prior quarter it is down 81.0%.
Not reported for Q4 2025.
Cash & Balance Sheet
Mega Matrix Inc. held $7.3M in cash as of Q4 2025; long-term debt is not reported for that period.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
Mega Matrix Inc.'s gross margin was 58.4% in Q4 2025, indicating the percentage of revenue retained after direct costs. This is up 3.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 10.6 percentage points.
Mega Matrix Inc.'s ROE was -108.0% in Q4 2025, measuring profit generated per dollar of shareholder equity. This is down 94.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 79.0 percentage points.
Not shown for Q4 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q4 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
None of these metrics is reported for Q4 2025.
MPU Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q3'256-K | Q2'256-K | Q1'256-K | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'246-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.2M-49.2% | $6.1M-40.9% | $7.1M+2.1% | $7.7M-11.0% | $10.2M | $10.3M | $6.9M | $8.7M |
| Cost of Revenue | $2.2M-53.6% | $3.2M-25.6% | $2.9M+8.1% | $3.4M-2.2% | $4.7M | $4.3M | $2.7M | $3.5M |
| Gross Profit | $3.0M-45.5% | $2.9M-51.8% | $4.1M-1.8% | $4.3M-16.9% | $5.6M | $6.1M | $4.2M | $5.2M |
| SG&A Expenses | $16.4M+516.3% | $9.8M+327.3% | $2.2M-22.6% | $2.5M+9.5% | $2.7M | $2.3M+111.8% | $2.9M | $2.2M |
| Operating Income | -$15.3M-1229.9% | -$9.6M-255.4% | -$1.5M+49.4% | -$2.5M+46.7% | -$1.2M | -$2.7M-146.2% | -$3.0M | -$4.8M |
| Interest Expense | N/A | N/A | N/A | N/A | -$73K | -$85K | $24K | $3K |
| Income Tax | $200-50.0% | $800+100.0% | $200-50.0% | $400+100.1% | $400 | $400+103.1% | $400 | -$277K |
| Net Income | -$19.5M-960.2% | -$10.8M-291.1% | -$1.5M+57.0% | -$2.5M-185.9% | -$1.8M | -$2.8M-84.9% | -$3.4M-116.6% | -$867K+29.9% |
| EPS (Basic) | -$0.38 | -$0.21-162.5% | -$0.04+60.0% | -$0.07-40.0% | $0.00-100.0% | -$0.08-60.0% | -$0.10 | -$0.05 |
| EPS (Diluted) | -$0.38 | -$0.21-162.5% | -$0.04+60.0% | -$0.07 | $0.00-100.0% | -$0.08-60.0% | -$0.10 | -$0.05 |
| Diluted Shares (Avg) | N/A | 51M+30.0% | 35M-5.4% | 35M | N/A | 39M+23.6% | 37M | 35M |
Not reported in any period shown, so not listed: R&D Expenses, EBITDA.
MPU Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q3'256-K | Q2'256-K | Q1'256-K | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'246-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $22.4M+15.2% | $42.7M+90.4% | $16.6M | $17.3M | $19.5M+45.9% | $22.4M | N/A | N/A |
| Current Assets | $17.7M+18.5% | $38.0M+114.8% | $12.1M | $12.7M | $14.9M+28.8% | $17.7M | N/A | N/A |
| Cash & Equivalents | $7.3M-17.7% | $9.8M-1.8% | $4.0M-66.6% | $6.8M+137.0% | $8.9M+183.4% | $9.9M+405.7% | $12.0M | $2.9M |
| Short-Term Investments | $4K-41.4% | $5K | $7K | $7K | $7K | $0 | $0 | $0 |
| Accounts Receivable | $509K+20.3% | $429K+0.6% | $734K | $510K | $423K | $426K | N/A | N/A |
| Long-Term Investments | $1.8M+17.1% | $1.5M0.0% | $1.5M | $1.5M | $1.5M-15.3% | $1.5M | $0 | $0 |
| Goodwill | $2.9M0.0% | $2.9M0.0% | $2.9M | $2.9M | $2.9M0.0% | $2.9M | N/A | N/A |
| Total Liabilities | $4.4M-18.6% | $5.3M-20.2% | $5.7M | $5.4M | $5.4M+82.0% | $6.6M | N/A | N/A |
| Total Equity | $18.1M+28.1% | $37.4M+136.9% | $10.9M-36.8% | $11.9M-27.0% | $14.1M+35.7% | $15.8M+64.8% | $17.3M+56.8% | $16.3M+32.9% |
| Retained Earnings | -$60.6M-130.2% | -$41.1M-67.9% | -$30.3M | -$28.8M | -$26.3M-50.9% | -$24.5M | N/A | N/A |
Not reported in any period shown, so not listed: Inventory, Current Liabilities, Non-Current Liabilities, Long-Term Debt.
MPU Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q3'256-K | Q2'256-K | Q1'256-K | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'246-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.4M-206.2% | -$3.5M-8.1% | -$1.8M-121.5% | -$2.2M-2181.2% | -$794K+23.4% | -$3.2M | $8.2M | -$97K |
| Stock-Based Compensation | N/A | $2.9M+1787.8% | $51K | $111K | N/A | $154K | N/A | N/A |
| Investing Cash Flow | -$38K+86.7% | -$312K-0.5% | -$1.3M-344.1% | $93K+109.4% | -$283K-44.5% | -$310K | -$300K | -$992K |
| Financing Cash Flow | -$400 | $9.6M+537.4% | $357K-70.1% | $3K-99.6% | $0-100.0% | $1.5M | $1.2M | $810K |
Not reported in any period shown, so not listed: Depreciation & Amortization, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
MPU Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q3'256-K | Q2'256-K | Q1'256-K | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'246-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 58.4%+3.9pp | 47.7%-10.8pp | 58.5%-2.3pp | 55.8%-4.0pp | 54.4% | 58.5% | 60.8% | 59.7% |
| Operating Margin | -294.6% | -156.3% | -21.6%+22.0pp | -32.8%+22.0pp | -11.3% | -26.0% | -43.6% | -54.8% |
| Net Margin | -375.4% | -177.4% | -20.7%+28.5pp | -32.0%-22.1pp | -18.0% | -26.8% | -49.2% | -10.0% |
| Return on Equity | -108.0%-94.9pp | -29.0%-11.4pp | -13.4%+6.3pp | -20.8%-15.5pp | -13.0% | -17.5%-1.9pp | -19.7%-5.4pp | -5.3%+4.7pp |
| Return on Assets | -87.0%-77.5pp | -25.4%-13.0pp | -8.8% | -14.3% | -9.5% | -12.4% | N/A | N/A |
| Debt-to-Equity | 0.24-0.1x | 0.14-0.3x | 0.52 | 0.45 | 0.38+0.1x | 0.42 | N/A | N/A |
| Asset Turnover | 0.23-0.3x | 0.14-0.3x | 0.43 | 0.45 | 0.53 | 0.46 | N/A | N/A |
Not reported in any period shown, so not listed: Current Ratio, FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Mega Matrix Inc. MPU | FY2025 | $26.1M | -$34.3M | N/A | $9.3M | 22/100 |
| NIP Group Inc. NIPG | FY2025 | $82.5M | -$13.3M | -16.1% | $82.6M | 44/100 |
| LiveOne, Inc. LVO | FY2026 | $77.1M | -$21.3M | -27.6% | $37.0M | 28/100 |
| Pop Culture Group Co., Ltd CPOP | FY2025 | $107.6M | -$6.9M | -6.4% | $2.9M | 45/100 |
| Gaia, Inc. GAIA | FY2025 | $99.0M | -$4.5M | -4.5% | $33.8M | 29/100 |
| Reading International, Inc RDI | FY2025 | $203.0M | -$14.1M | -7.0% | $43.3M | 17/100 |
Where Mega Matrix Inc. Ranks
Frequently Asked Questions
What is Mega Matrix Inc.'s annual revenue?
Mega Matrix Inc. (MPU) reported $26.1M in total revenue for fiscal year 2025. This represents a -27.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Mega Matrix Inc.'s revenue growing?
Mega Matrix Inc. (MPU) revenue declined by 27.9% year-over-year, from $36.2M to $26.1M in fiscal year 2025.
Is Mega Matrix Inc. profitable?
No, Mega Matrix Inc. (MPU) reported a net income of -$34.3M in fiscal year 2025.
What is Mega Matrix Inc.'s EBITDA?
Mega Matrix Inc. (MPU) had EBITDA of -$23.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Mega Matrix Inc.'s gross margin?
Mega Matrix Inc. (MPU) had a gross margin of 55.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Mega Matrix Inc.'s return on equity (ROE)?
Mega Matrix Inc. (MPU) has a return on equity of -189.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Mega Matrix Inc.'s operating cash flow?
Mega Matrix Inc. (MPU) recorded an outflow of $9.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Mega Matrix Inc.'s total assets?
Mega Matrix Inc. (MPU) had $22.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Mega Matrix Inc.'s debt-to-equity ratio?
Mega Matrix Inc. (MPU) had a debt-to-equity ratio of 0.24 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Mega Matrix Inc.'s return on assets (ROA)?
Mega Matrix Inc. (MPU) had a return on assets of -152.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Mega Matrix Inc.'s P/E ratio?
Mega Matrix Inc. (MPU) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $9.3M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Mega Matrix Inc.'s price-to-sales ratio?
Mega Matrix Inc. (MPU) trades at 0.4x sales, its market capitalization divided by revenue of $26.1M revenue, FY2025. The market capitalization is $9.3M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Mega Matrix Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Mega Matrix Inc. (MPU) held $9.1M in cash, cash equivalents and investments, and reported an operating cash outflow of $9.9M over that year. Dividing the one by the other, the reported balance equals about 11 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Mega Matrix Inc.'s Piotroski F-Score?
Mega Matrix Inc. (MPU) has a Piotroski F-Score of 1 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Mega Matrix Inc.'s earnings high quality?
Mega Matrix Inc. (MPU) reported a net loss of $34.3M while operations used $9.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Mega Matrix Inc. cover its interest payments?
Mega Matrix Inc. (MPU) reported an operating loss of $28.9M against $102K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Mega Matrix Inc.?
Mega Matrix Inc. (MPU) scores 22 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.