ONE Championship continues to remain optimistic on its profitability targets even after the Asian mixed martial arts promoter more than doubled its annual losses in 2021.
Recent filings to Singapore’s Accounting and Corporate Regulatory Authority (ACRA) show that ONE’s annual losses for 2021 jumped 125% to $111 million compared to the same period in 2020. This includes a $38 million fair value loss due to the conversion of its convertible notes to equity. The firm’s net cash flow used in operating losses also grew 61.9% to $63 million in 2021 from $38.2 million in 2020.
