Chinese AI firm MiniMax’s revenue jumps 159% to US$79 million on strong demand
Shanghai-based company predicts revenue will double this year, based on strong user growth for its M2.5 model
Revenue rose nearly 159 per cent year on year to US$79 million for the year ended December 2025, the Shanghai-based company said on Monday, beating an estimate of US$71.39 million by analysts polled by Bloomberg.
Meanwhile, CEO Yan Junjie said in a post-earnings call that annual recurring revenue as of February had already reached more than US$150 million on the back of surging demand for its latest model, M2.5, as well as enterprise solutions.
“We are shifting from being an AI model company to an AI platform company,” Yan said. “In the AI era, platform companies are organisations that define and promote new intelligent paradigms, then enjoy the dividends through related products.”
The company said that gross profit in 2025 increased 437 per cent to US$20.1 million, while total losses soared 302 per cent to US$1.87 billion, though much of this was due to fair value losses on financial liabilities.
Adjusted net loss, which removes such losses and other one-time expenses, totalled US$250.9 million, a 2.7 per cent increase from 2024.