mm2 Asia (1B0) H1 2026 earnings summary

Executive summary

• H1 FY2026 revenue fell 53.2% YoY to S$40.0m; gross profit dropped to S$3.3m and net loss widened to S$39.0m.

• Loss included S$25.6m impairment of work-in-progress, S$20.1m expected credit losses and S$4.9m corporate-guarantee loss, partly offset by a S$20.8m fair-value gain on financial instruments.

Financial highlights

• Revenue was S$40.0m versus S$85.4m; cost of sales declined 40.9% to S$36.7m, while gross profit fell 85.9% to S$3.3m.

• Pre-tax loss was S$39.1m versus S$0.5m; net loss was S$39.0m versus S$3.9m, including discontinued-operations loss of S$0.9m.

• Basic loss per share from continuing operations was 0.61 cents versus 0.09 cents; diluted loss per share was 0.57 cents versus 0.05 cents.

Outlook and guidance

• Management is pursuing restructuring of financial and business affairs; cash management and cost discipline are priorities while timing and outcome remain materially uncertain.

• Strategy shifts toward an asset-light focus on creative content, live events and digital production; management cited prudent optimism about emerging industry trends.