MINIMAX-W (00100) has unveiled its interim results for the six-month period ending June 30, 2026, showcasing a revenue of $117 million, marking a substantial 283.1% year-on-year increase. Gross profit climbed to $20.81 million, up 464.8%, while the period's loss narrowed to $358 million, an 11.0% improvement from the prior year.
The company stated it continues to advance its mission of "Intelligence with Everyone," delivering cutting-edge model performance while making advanced intelligence accessible at scale. Management believes inference efficiency is not only vital for widespread adoption of sophisticated AI but also serves as a key driver for further model expansion through broader post-training, experimentation, and deployment efforts. By consistently enhancing foundational model capabilities and full-stack efficiency, the company translates technological progress into AI-native products and tools such as MiniMax Code, while upgrading its open platform to serve enterprise clients and developers.
During the reporting period, the company launched MiniMax M3, upgrading its core model lineup and strengthening capabilities in coding, Agentic workflows, and professional applications. Shortly thereafter, it introduced MiniMax H3 with open-source weights, advancing video generation for commercial creation and broadening pathways for enterprise deployment and developer innovation.
As demand for inference and Agentic workloads continues to rise, the open platform's enterprise client and developer base is expanding, with an increasingly significant contribution to business performance. The company is deepening its global footprint, delivering increasingly powerful and cost-effective intelligent products to clients, developers, and individual users across more than 230 countries and regions.
For the six months ended June 30, 2026, total revenue grew 283.1% year-on-year to $117 million from $30.4 million, surpassing the full-year 2025 total of $79 million. This growth reflects an expanding global client and user base, rapid increases in model inference demand, and the company's ability to convert model strengths into widely adopted products and services. Revenue from the open platform and other AI-driven enterprise services surged 703.1% year-on-year to $73.9 million from $9.2 million, representing 63.4% of total revenue, up from 30.3% in the prior-year period, driven by growth in paying users, enterprise clients, API call volumes, and swift adoption of token plans.
This performance underscores escalating demand for the company's models in real-world business contexts and the growing contribution of enterprise and developer workloads. AI-native product revenue grew 100.9% year-on-year to $42.6 million from $21.2 million, supported by heightened user engagement, stronger willingness to pay, and continued commercialization of Hailuo AI alongside other AI-native offerings. The company continues to upgrade its AI-native product portfolio and tools, enabling users to apply frontier model capabilities more directly to productivity tasks.
While maintaining a focus on long-term innovation, the company has improved efficiency in converting R&D achievements into business growth. During the period, R&D expenses grew 138.8% year-on-year, notably below the 283.1% revenue increase. Gross profit rose to $20.8 million from $3.7 million, up 464.8%. Management believes sustained investment in model capabilities, infrastructure efficiency, and productization lays a solid foundation for long-term sustainable growth.
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