Mega Matrix (MPU) Operating Expenses (2023 - 2025)
Mega Matrix (MPU) posted Operating Expenses of -$18.3 million for Q4 2025, down 47.14% on a QoQ basis from -$12.5 million in Q3 2025, and down 172.99% year-over-year from $25.1 million in Q4 2024.
Analysis
Mega Matrix (MPU) Operating Expenses (2023 - 2025) Analysis & Trends
Mega Matrix has reported Operating Expenses for 3 years, with the latest figure at -$18.3 million in Q4 2025.
- On a quarterly basis, Operating Expenses fell 172.99% year-over-year to -$18.3 million in Q4 2025; TTM through Dec 2025 was -$43.3 million, a 32.75% decrease from a year earlier, with the FY2025 full-year figure at -$43.3 million, down 32.75% from the prior year.
- Operating Expenses was -$18.3 million for Q4 2025 at Mega Matrix, down from -$12.5 million in the prior quarter.
- The five-year high for Operating Expenses was -$944500.0 in Q4 2023, with the low at -$18.3 million in Q4 2025.
- Average Operating Expenses over 3 years is -$7.8 million, with a median of -$7.0 million recorded in 2024.
- The sharpest annual moves came in 2024 and 2025: Operating Expenses slumped 700.63% in 2024, then jumped 31.18% in 2025.
- Over 3 years, Operating Expenses stood at -$944500.0 in 2023, then slumped by 611.55% to -$6.7 million in 2024, then tumbled by 172.99% to -$18.3 million in 2025.
- The last three Operating Expenses figures came in at -$18.3 million (Q4 2025), -$12.5 million (Q3 2025), and -$5.7 million (Q2 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 321.15 Bn | 312.02 Bn | 6.52 Bn | 1.51 Bn |
| 2 | Spotify Technology | 108.56 Bn | 97.65 Bn | 1.86 Bn | 640.46 Mn |
| 3 | Tencent Music Entertainment | 12.38 Bn | 8.87 Bn | 582.00 Mn | -191.00 Mn |
| 4 | Huya | 485.14 Mn | 124.88 Mn | 37.58 Mn | -39.77 Mn |
| 5 | iQIYI | 427.67 Mn | -43.23 Mn | 152.37 Mn | -938.70 Mn |
| 6 | FuboTV | 324.08 Mn | -128.33 Mn | 399.10 Mn | 344.01 Mn |
| 7 | Kaltura | 221.37 Mn | 190.08 Mn | 34.54 Mn | 35.31 Mn |
| 8 | CuriosityStream | 157.45 Mn | 109.05 Mn | 16.93 Mn | 14.07 Mn |
| 9 | Cineverse | 47.34 Mn | 43.02 Mn | 10.66 Mn | 35.72 Mn |
| 10 | Mega Matrix | 8.76 Mn | 1.45 Mn | 3.03 Mn | -18.35 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | -18.35 Mn |
| Sep 30, 2025 | -12.47 Mn |
| Jun 30, 2025 | -5.66 Mn |
| Mar 31, 2025 | -6.85 Mn |
| Dec 31, 2024 | -6.72 Mn |
| Sep 30, 2024 | -8.74 Mn |
| Jun 30, 2024 | -7.22 Mn |
| Mar 31, 2024 | -9.96 Mn |
| Dec 31, 2023 | -944,500.00 |
| Sep 30, 2023 | -1.09 Mn |