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Gaia vs Mega Matrix: revenue, profit, margins and growth compared

Gaia brought in $99M of revenue in fiscal 2025, Mega Matrix $26.1M in fiscal 2025. Revenue changed by +10.8% at Gaia and -27.9% at Mega Matrix on the year before, so Gaia grew faster. Gaia kept -4.5% of its revenue as net profit, Mega Matrix -131.4%.

Side by side, latest fiscal year

GAIAMPU
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$99M$26.1M
Revenue growth+10.8%-27.9%
Net income-$4.5M-$34.3M
Net margin-4.5%-131.4%
Free cash flow-$377Kn/a
Free cash flow margin-0.4%n/a
Earnings per share (diluted)-$0.18-$0.75
Cash$13.5M$7.3M
Debt$5.7Mn/a
Price to earningsn/an/a
Market value$33.1M$189M
Dividend yieldn/an/a
Rank by revenue in sector#714 of 955 · Consumer discretionary#807 of 955 · Consumer discretionary

Over the years

Revenue
GAIA FY2018: $42MGAIA FY2019: $54MGAIA FY2020: $66.8MGAIA FY2021: $79.6MGAIA FY2022: $82MGAIA FY2023: $80.4MGAIA FY2024: $89.3MGAIA FY2025: $99MMPU FY2024: $36.2MMPU FY2025: $26.1MFY18FY19FY20FY21FY22FY23FY24FY25
GAIA $99MMPU $26.1M
Net income
GAIA FY2018: -$33.8MGAIA FY2019: -$18.2MGAIA FY2020: $519KGAIA FY2021: $3.7MGAIA FY2022: -$3.6MGAIA FY2023: -$5.6MGAIA FY2024: -$5.2MGAIA FY2025: -$4.5MMPU FY2022: -$8.5MMPU FY2024: -$4.1MMPU FY2024: -$8.9MMPU FY2025: -$34.3MFY18FY19FY20FY21FY22FY23FY24FY25
GAIA -$4.5MMPU -$34.3M
Net margin
GAIA FY2018: -80.5%GAIA FY2019: -33.6%GAIA FY2020: 0.8%GAIA FY2021: 4.7%GAIA FY2022: -4.4%GAIA FY2023: -7.0%GAIA FY2024: -5.9%GAIA FY2025: -4.5%MPU FY2024: -24.6%MPU FY2025: -131.4%FY18FY19FY20FY21FY22FY23FY24FY25
GAIA -4.5%MPU -131.4%
Revenue growth
GAIA FY2019: +28.5%GAIA FY2020: +23.8%GAIA FY2021: +19.1%GAIA FY2022: +3.1%GAIA FY2023: -2.0%GAIA FY2024: +11.0%GAIA FY2025: +10.8%MPU FY2025: -27.9%FY19FY20FY21FY22FY23FY24FY25
GAIA +10.8%MPU -27.9%
Free cash flow
GAIA FY2018: -$40.2MGAIA FY2019: -$21.3MGAIA FY2020: -$1.7MGAIA FY2021: $3.5MGAIA FY2022: -$6.7MGAIA FY2023: $596KGAIA FY2024: $1.9MGAIA FY2025: -$377KFY18FY19FY20FY21FY22FY23FY24FY25
GAIA -$377KMPU

Fiscal years as each company reports them; the two may end in different months.

Questions about Gaia and Mega Matrix

Which is bigger by revenue, Gaia or Mega Matrix?

Gaia is bigger by revenue: $99M in fiscal 2025, against $26.1M for Mega Matrix in fiscal 2025.

Which keeps more of its revenue as profit, Gaia or Mega Matrix?

Gaia had a net margin of -4.5% in fiscal 2025; Mega Matrix had -131.4% in fiscal 2025.

Which grew revenue faster, Gaia or Mega Matrix?

In their latest fiscal years revenue changed by +10.8% at Gaia and -27.9% at Mega Matrix.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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