Mixed Martial Arts Group Limited (NYSE American: MMA) filed its 2025 annual report on Form 20‑F with the U.S. Securities and Exchange Commission on October 31, 2025, and announced the filing on November 21, 2025. The report covers the fiscal year ended June 30, 2025 and is available on the company’s investor relations website and the SEC’s EDGAR database.
The company reported a net loss after tax of A$26,016,967 for the year, a sharp increase from the A$14,408,346 loss recorded in fiscal 2024. The auditor’s report raised substantial doubt about MMA’s ability to continue as a going concern, citing sustained losses, negative operating cash flow of A$8,307,183 in FY 2025 versus A$9,330,767 in FY 2024, and a shift from a net asset position of A$2,558,544 to a net liability of A$1,381,647. Cash balances fell from A$3,544,837 to A$2,084,674, underscoring liquidity pressure.
Management disclosed material weaknesses in internal control over financial reporting, noting insufficient documented controls and limited SEC/PCAOB reporting expertise. Remediation efforts are underway, but their effectiveness remains uncertain.
Revenue grew to A$1,867,947 in FY 2025, driven by a 70% increase in Program Fees to A$1,578,287 from A$929,319 in FY 2024. The acquisition of BJJLink in December 2024 added a new SaaS subscription and transaction revenue stream of A$289,660, marking the first time the company reported such revenue. Sales of the Warrior Training Program continued to represent over 70% of total revenue.
CEO Nick Langton emphasized that the company is “poised for a transformative year” and highlighted the expansion of its UFC Gym partnership, technology scaling, and deeper customer engagement as key growth levers. The rebranding from Alta Global Group Limited to Mixed Martial Arts Group Limited in December 2024 and the IPO in March 2024 are positioned to support a technology‑driven ecosystem that converts fans into active participants.
The filing underscores significant financial challenges, including a widening loss, liquidity constraints, and control weaknesses, while also revealing revenue growth from new product lines and strategic acquisitions. The company’s management remains focused on cost discipline and strategic investments to navigate the current headwinds and build a sustainable, technology‑enabled platform for the global combat sports industry.
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