Mega Matrix management commentary says H1 2026 net loss widens to USD 6.3 million as fewer new titles hit FlexTV after shift to licensed content model

• Mega Matrix management commentary flagged a tougher short-drama market, citing higher acquisition costs, heavier marketing, sustained peer losses.
• Six months ended June 30, 2026 revenue fell 29% to $ 10.47 million; net loss widened 60% to $ 6.3 million.
• Management attributed the IAP decline to fewer new titles after scaling back self-produced dramas, citing a shift toward licensed content procurement.
• ARPU rose to $ 3.62 from $ 3.05 on better subscription conversion; active users fell to 2,342,008 from 4,085,282.
• Marketing discipline cut ad spend to $ 4.54 million from $ 7.78 million; ad expense ratio improved to 43% from 53%.

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