NYSE: MMA – MMA.INC’s Verified Network Growth Lifts Illustrative Annual Revenue Opportunity to US$21 Million
The illustrative scenarios depend on full adoption, including a future paid subscription offering that generates no subscription revenue today.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
MMA.INC (NYSE American: MMA) updated its illustrative annual revenue scenario to approximately US$21 million across its verified network at hypothetical full adoption. The previous scenario was approximately US$19 million. From June to September, BJJLink’s verified gyms grew 14.0% to 1,148 and registered student profiles rose 12.4% to 120,048, with over 400 paying academies.
The broader published-network scenario illustrates approximately US$180 million annually. Both scenarios assume 100% adoption; neither is a forecast, guidance or revenue target, and the company does not expect full penetration. The verified scenario includes US$13 million from future paid XP Passport subscriptions at US$9 per month. That paid offering is not enabled and generates no subscription revenue today. September payment volume was US$2.11 million, representing gross payments processed rather than company revenue.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point. Forward-looking: it has not happened yet and may not happen.Verified-network illustrative annual revenue rises from approximately US$19 million to US$21 million at hypothetical full adoption.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Broader-network scenario illustrates approximately US$180 million annually at hypothetical full adoption.
- Moderate pointVerified gyms increased 14.0% to 1,148 from June to September.
- Moderate pointRegistered student profiles increased 12.4% to 120,048 from June to September.
- Moderate pointMonthly student check-ins increased 17.6% to 97,195 from June to September.
3 minor points
- Minor pointBJJLink has over 400 paying academies, providing an existing customer base for additional services.
- Minor point. Forward-looking: it has not happened yet and may not happen.MMA.INC plans to convert more verified gyms into paying academies and increase adoption across existing customers.
- Minor point. Forward-looking: it has not happened yet and may not happen.MMA.INC intends to revitalise mixedmartialarts.com and leverage ambassadors to attract academies and participants.
Negative
- Moderate pointBoth scenarios assume 100% adoption; MMA.INC does not expect full penetration, and current conversion remains a fraction.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Verified-scenario XP Passport revenue of US$13 million depends on launching paid subscriptions and attracting and retaining subscribers.
- Minor pointXP Passport’s paid layer is not enabled and generates no subscription revenue today.
- Minor pointPublished or verified gym status creates no contractual relationship or obligation to become a paying customer.
- Minor pointNetwork counts may include inactive gyms and students, limiting their equivalence to active customers.
- Minor pointPromotional audience reach does not necessarily translate into registrations, customer conversions or revenue.
News Explained
Within the
Key Figures
- Verified-network illustrative annual revenue
- Approximately US$21 million
- Hypothetical full adoption; revised from approximately US$19 million
- Published-network illustrative annual revenue
- Approximately US$180 million
- Hypothetical full adoption
- Future XP Passport revenue component
- US$13 million
- Verified-network scenario; assumes all registered student profiles subscribe
- Future XP Passport subscription price
- US$9 per month
- Hypothetical price assumption
- Adoption assumption
- 100%
- Modelled adoption for both illustrative scenarios
- Verified gym growth
- 14.0% to 1,148 gyms
- June to September
- Registered student profile growth
- 12.4% to 120,048 profiles
- June to September
Historical Context
-
Operating update disclosed growth metrics used to size the revised network scenario.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
saas technical
freemium technical
transaction take-rate financial
form 6-k regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Following double digit quarterly BJJLink growth, MMA.INC details how it intends to grow software, payments and training revenue from the network it has built
Highlights
- Verified network scenario rises from US
$19M to US$21M at hypothetical full adoption - Verified gyms grew
14.0% to 1,148 and registered students increased12.4% to 120,048 - Over 400 paying academies provide an established base to grow revenue per academy
- Broader network scenario illustrates US
$180M annually at hypothetical full adoption
New York, NY, Nov. 12, 2026 (GLOBE NEWSWIRE) -- Mixed Martial Arts Group Limited (NYSE American: MMA) (“MMA” or the “Company”), doing business as MMA.INC, today updated the illustrative revenue scenarios in its September corporate presentation to reflect growth in its martial arts academy and student network.
MMA.INC’s investment in BJJLink has built a network through which the Company already earns revenue from software, payments and training. BJJLink ended September with 1,148 verified gyms and over 400 paying academies. MMA.INC can grow revenue within that footprint by converting more verified gyms into paying customers and increasing the number of services its existing customers use.
An academy that starts with BJJLink to manage memberships can add integrated payments and offer TrainAlta programs, creating additional revenue opportunities for MMA.INC through the same relationship. The platform’s 120,048 registered student profiles also provide a base for future paid services through XP Passport.
Applying the September corporate presentation’s assumptions to this larger network increases the illustrative annual revenue scenario across the verified footprint from approximately US
Both scenarios assume
Quarterly growth expands the network
As reported on October 27, BJJLink’s verified gyms increased
BJJLink processed US
Growing the network expands the monetization opportunity
MMA.INC intends to continue growing its published gym profiles, verified gyms and paying academies, together with registered students on BJJLink, while increasing adoption of products and services across that expanding footprint. Successful growth in these populations would increase the underlying scale of the potential monetization opportunity beyond the September 2026 footprint used in the scenarios below.
The academy is the entry point. Based on BJJLink platform data, paying academies historically averaged approximately 250–300 registered students. Those students are members of the underlying academies whose student records are brought onto BJJLink, rather than students individually acquired by MMA.INC. New paying academies can therefore expand the platform’s registered student base and potential audience for future paid XP Passport services, while creating opportunities for BJJLink SaaS, BJJLink Transactions and Warrior Training Program revenue.
To support continued growth at the top of the funnel, MMA.INC intends to revitalise mixedmartialarts.com as a destination for combat sports fans and participants, alongside leveraging the reach of its ambassadors and strategic advisors, who collectively have millions of followers across social media platforms. The Company aims to use these channels to increase awareness of its ecosystem, attract additional academies and participants, and support growth in published gym profiles, verified gyms, paying academies and registered students. Any resulting growth in the platform footprint would further expand the potential audience for BJJLink services, the Warrior Training Program and future paid XP Passport subscriptions. Audience reach does not necessarily translate into platform registrations, customer conversions or revenue, and the extent of any promotional activity will depend on the applicable arrangements.
One academy joins. Then the journey earns.
| CUSTOMER JOURNEY | PLATFORM ACTIVITY | REVENUE OPPORTUNITY |
| 1 Academy joins | BJJLink software and payments | SaaS subscription |
| 2 Members onboard | Existing academy members become registered students; profiles, check-ins and belts | Expanded participant footprint |
| 3 Members transact | Membership fees, gear, food and classes | BJJLink Transactions / transaction take-rate |
| 4 Members progress | Warrior Training Program and XP Passport | Program revenue; potential future paid subscriptions |
| 5 Identity travels | Portable training and participation records | Potential network effects and future services |
Illustrative customer journey only. XP Passport is currently freemium; its paid monetization layer is not enabled and it generates no subscription revenue today. The 250–300 historical average does not guarantee that each additional academy brings that number of new, unique or active registered students.
“We invested in tools that help academy owners run and grow their businesses,” said Nick Langton, Founder and Chief Executive Officer of MMA.INC. “Our priority now is to convert more verified gyms into paying academies and increase adoption of software, payments and the Warrior Training Program. When a paying academy joins BJJLink, its existing students can join the platform as registered students, creating a potential audience for XP Passport and other participant services. Our objective is to grow both the academy and registered student footprint while earning more from the relationships we have already assembled.”
What the updated model illustrates
The verified scenario uses 1,148 verified gyms and 120,048 registered student profiles, compared with 996 gyms and 107,694 student profiles in the September corporate presentation. The broader scenario uses 15,408 published gym profiles and retains the presentation’s modelled population of approximately 680,000 platform user profiles.
| Illustrative annual revenue at hypothetical | Verified network | Published network |
| Warrior Training Programs, including TrainAlta | US | US |
| BJJLink software subscriptions | US | US |
| BJJLink payment transaction fees | US | US |
| Future paid XP Passport subscriptions | US | US |
| Total illustrative annual revenue | Approx. US | Approx. US |
Approximately US
The XP Passport assumptions use a hypothetical US
The model assumes approximately US
The scenarios assume hypothetical
The September 1, 2026 corporate presentation, including the original scenarios on page 24, is available on MMA.INC’s investor relations website.
About Mixed Martial Arts Group Limited
Mixed Martial Arts Group Limited (NYSE American: MMA), doing business as MMA.INC, is building the operating infrastructure for the global martial arts and combat sports participation economy. Through BJJLink, TrainAlta, Hype and MixedMartialArts.com, the Company brings together academy software, payments, training programs, media and community to turn fans into participants and help academies grow.
As of September 30, 2026, MMA.INC’s reported platform footprint included 5 million+ social media followers, 680,000 platform user profiles, 120,048 registered student profiles, 32,583 monthly active users and 15,408 published gym profiles, including 1,148 verified and 400 paying academies. September activity included over 97,000 check-ins and an annualized payments run rate of US
- Monetizing an Existing Footprint: MMA.INC’s business model combines recurring software fees, payment transaction revenue and training programs, with opportunities to increase adoption and deliver additional services to academies and participants already connected to its platform.
- Built to Aggregate the Sector: MMA.INC’s strategy is to connect the fragmented martial arts participation economy through shared software, payments and identity. XP Passport is designed to give participants a unified digital identity and portable training record, supporting engagement across the ecosystem.
Operating and Platform Metrics
MMA.INC reports these operating and platform metrics on the same basis as in its October 27, 2026 operating update furnished on Form 6-K. Other companies may calculate similarly named metrics differently. Published gym profiles are listings consolidated across MMA.INC’s assets. They may include inactive gyms and gyms with no contractual relationship with the Company. A gym is verified when its owner takes control of its profile. Paying academies have an active paid subscription. Registered student profiles are individual student records created on BJJLink and may include inactive students. Monthly active users are unique users who were active during the month across the app, in-gym kiosk and admin interfaces. The broader illustrative revenue scenario uses the previously disclosed count of approximately 680,000 user profiles from the September 2026 corporate presentation. Social media follower counts are cumulative across MMA.INC’s assets and may include followers who are no longer engaged. Monthly student check-ins count attendance recorded through BJJLink during the month. Payment volume is the gross value of payments processed through BJJLink. MMA.INC earns revenue from the fees it receives under applicable payment arrangements. Annualized check-ins and payment volume are calculated by multiplying the respective September 2026 totals by 12.
For more information, visit www.mma.inc
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as added by the U.S. Private Securities Litigation Reform Act of 1995. These statements include the Company’s plans and expectations regarding conversion of verified gyms into paying customers, adoption of BJJLink software, payments and TrainAlta programs, growth in revenue per academy and participant, and commercialization of paid XP Passport services. The approximately US
Media Contacts
Mixed Martial Arts Group Limited
E: andrew@mma.inc
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does MMA.INC’s US$21 million revenue scenario represent?
It represents approximately US$21 million in illustrative annual revenue at hypothetical full adoption across 1,148 verified gyms and 120,048 registered student profiles. It is not a forecast, guidance or revenue target. MMA.INC does not expect full penetration, and no timetable is assumed for full adoption.
What pricing and fee assumptions underpin MMA.INC’s illustrative revenue scenarios?
The model assumes approximately US$14,900 in annual Warrior Training Program sales per gym, with a 35% net share to MMA.INC. It also assumes an average software fee of US$99 per gym per month, payment fees of 1% on approximately US$54,000 in annual payment volume per gym, and future XP Passport subscriptions at US$9 per month.
Can MMA.INC’s verified and published network revenue scenarios be added together?
No—the populations overlap, so the scenario totals should be read separately. The verified scenario uses 1,148 gyms and 120,048 registered student profiles. The broader scenario uses 15,408 published gym profiles and approximately 680,000 platform user profiles.
How much payment volume did MMA.INC’s BJJLink process in September 2026?
BJJLink processed US$2.11 million in September payments, equivalent to US$25.4 million annualized at that month’s level. These figures measure gross payments processed, not MMA.INC revenue. The company earns transaction fees under applicable payment arrangements.
How do new paying academies expand MMA.INC’s registered student base?
Existing academy members can become registered students when their academy joins BJJLink; paying academies historically averaged approximately 250–300 registered students. These are academy members whose records enter the platform, not students individually acquired by MMA.INC. That historical average does not guarantee new, unique or active students from each additional academy.