Executive Summary / Key Takeaways

• Mixed Martial Arts Group Limited (MMA) is strategically positioned to capitalize on the booming global combat sports market through its technology-driven ecosystem, connecting over 700 million fans with training programs, gyms, and athletes.
• The company's proprietary platforms, including BJJLink, TrainAlta, and MixedMartialArts.com, offer a unique value proposition by providing integrated solutions for martial arts businesses and enthusiasts, fostering a strong network effect and first-mover advantage.
• Recent high-profile strategic appointments, such as Donald Trump Jr. and Conor McGregor as Strategic Advisors, alongside a landmark partnership with UFC Gym Group, are poised to significantly enhance global recognition and accelerate commercialization efforts.
• Despite historical net losses, MMA demonstrated a substantial reduction in total debt from $35.78 million in 2023 to $259,281 in 2024, and a positive shift in total stockholders' equity to $2.56 million in 2024, signaling improved financial health.
• Key growth drivers include the expansion of the UFC Gym partnership, targeting 45 new gym rollouts in 2025, and the impressive performance of BJJLink, which recorded 128% annualized revenue growth and a 188% surge in SaaS subscriptions for the seven months ending July 31.

The Digital Arena: MMA's Play in a Global Phenomenon

Mixed Martial Arts Group Limited (MMA), formerly Alta Global Group Limited, is carving out a distinctive niche in the rapidly expanding global martial arts and combat sports industry. Incorporated in 2013 and based in Manly, Australia, the company operates a sophisticated, technology-driven ecosystem designed to aggregate and connect over 700 million global MMA fans with essential training programs, affiliated gyms, and professional athletes. This strategic focus positions MMA not merely as a participant, but as a foundational infrastructure provider within a fragmented yet highly passionate market.

The combat sports sector is experiencing a significant boom, characterized by surging fan engagement and increasing participation worldwide. MMA's overarching strategy is to unify this landscape through modern digital tools, providing a much-needed backbone for an industry that has historically lacked comprehensive integration. This approach aims to convert a vast global fanbase into active participants, thereby fostering a robust and interconnected martial arts community.

Technological Edge: Building the Connected Combat Sports Ecosystem

At the heart of MMA's investment thesis lies its suite of proprietary technology platforms, which collectively form its differentiated ecosystem. These platforms are designed to address critical needs for both martial arts practitioners and businesses. BJJLink, for instance, stands out as a definitive all-in-one operating system for martial arts-first businesses, optimizing member management, driving revenue growth, and unlocking scalable monetization for franchisees. This platform has demonstrated impressive traction, recording 128% annualized revenue growth and a remarkable 188% surge in SaaS subscriptions for the seven months ending July 31.

Beyond BJJLink, the company's technological arsenal includes TrainAlta, which partners with gyms and coaches to deliver consumer products aimed at driving participation for fans and beginners. MixedMartialArts.com serves as a central community and commerce platform, offering news, fighter data, fight schedules, and a vibrant forum. Hype provides a mobile marketing platform enabling gym owners, coaches, and athletes to monetize their audiences, while Steppen is a fitness app designed to inspire and guide users on their fitness journeys. This integrated technological approach is crucial for MMA, as it creates a powerful network effect where every new academy onboarded and every new fan converted strengthens its first-mover advantage in aggregating the mixed martial arts and combat sports experience at a grassroots level.

Strategic Alliances and Influential Leadership

MMA has strategically bolstered its leadership and market reach through high-profile appointments and partnerships. On September 9, 2025, the company announced the appointment of Donald Trump Jr. as a Strategic Advisor, joining prominent investor and Strategic Advisor Conor McGregor. Trump Jr. is expected to leverage his experience in technology, media, and brand building to expand MMA.INC's global recognition and accelerate the commercialization of its combat sports platforms. In connection with this appointment, Red Rock West LLC, an entity affiliated with Mr. Trump Jr., was issued 1.50 million options, each exercisable into one ordinary share at $0.0010 per share, subject to a 12-month lock-up period.

A cornerstone of MMA's growth strategy is its multi-year partnership with UFC Gym Group, which selected MMA.INC's BJJLink.com software as the technology engine for its global Brazilian Jiu Jitsu franchise expansion. This collaboration is set to support the global rollout of 45 new UFC Gyms in 2025, significantly accelerating the expansion of UFC Gym's high-growth BJJ program. These strategic alliances are critical for increasing fan participation, supporting small businesses within the martial arts sector, and scaling MMA's presence across global combat sports.

Financial Trajectory and Operational Performance

Examining MMA's financial performance reveals a company in a transformative phase. While the company has reported net losses in recent years, with net income at -$11.20 million in 2022, -$20.60 million in 2023, and -$14.41 million in 2024, there are clear signs of improving financial health. Revenue has fluctuated, reaching $940,803 in 2022, $1.54 million in 2023, and $562,312 in 2024.

A significant positive development is the dramatic reduction in total debt, which decreased from $35.78 million in 2023 to a mere $259,281 in 2024. Concurrently, total stockholders' equity turned positive to $2.56 million in 2024, a notable improvement from negative figures in prior years.

The company's gross profit margin stands at a healthy 71.44% on a TTM basis, indicating strong unit economics for its services. However, operating and net profit margins remain significantly negative, at -2233.64% and -2562.34% respectively, reflecting substantial operational expenses relative to current revenue.

Cash and equivalents stood at $3.54 million in 2024, providing some liquidity.

Competitive Landscape and Strategic Positioning

MMA operates in a competitive landscape that includes both direct and indirect rivals. Direct competitors such as TKO Group Holdings (TKO), Peloton Interactive (PTON), and Nike Inc. (NKE) (through its digital fitness apps) offer varying degrees of overlap with MMA's services. TKO Group, with its dominant position in live combat sports events, possesses superior brand recognition and scale. However, MMA differentiates itself by focusing on a technology-driven ecosystem that aggregates the grassroots martial arts experience, offering accessible, user-friendly digital tools for everyday training and community engagement.

Compared to Peloton, which excels in hardware-integrated digital fitness, MMA's unique value proposition lies in its specialized combat sports programming and community features. While Peloton boasts a larger user base and established digital platform, MMA's content feels more relevant and engaging for dedicated martial arts enthusiasts. Against Nike, a global brand powerhouse with broad fitness apps, MMA leads in the depth of martial arts-specific features, providing a more tailored user experience. MMA's competitive advantage stems from its clear first-mover position in aggregating the martial arts and combat sports sector at a grassroots level, fostering network effects with every new academy and fan.

Outlook and Growth Catalysts

MMA is poised for a transformative year, with management outlining key goals for 2025. The company aims to significantly expand its partnership with UFC Gym, scale its technology and infrastructure, deepen customer engagement, and drive industry integration. The global rollout of 45 new UFC Gyms in 2025, powered by MMA.INC's BJJLink.com software, represents a concrete growth target. Management believes the mixed martial arts sector is one of the fastest-growing sports globally, with media visibility expected to surge further in 2026.

The company's strategy of building a fully connected martial arts ecosystem, creating tools and pathways for millions of participants, is central to its long-term vision. This involves solving two critical problems: making it easier for fans to begin training and providing academies with new members and efficient tools for operations, retention, and revenue growth. This alignment of interests among fans, gyms, and the sport itself is expected to drive future growth and solidify MMA's market position.

Risks and Challenges

Despite its strategic advantages and growth initiatives, MMA faces several pertinent risks. The company has historically reported negative shareholders' equity, though it turned positive in 2024, indicating a need for sustained profitability. Revenue has been volatile, with a decline in 2024 after a jump in 2023, and the company currently generates less than USD$1 million in annual revenue. This small revenue base makes it susceptible to market fluctuations and competitive pressures.

MMA's share price has also exhibited high volatility, reflecting the inherent risks associated with early-stage growth companies in a dynamic industry. The company's reliance on digital infrastructure and technology platforms also exposes it to operational risks such as cybersecurity threats, platform outages, and the need for continuous innovation to maintain a competitive edge. While strategic partnerships like the one with UFC Gym are beneficial, dependence on such alliances also introduces partnership-specific risks.

Conclusion

Mixed Martial Arts Group Limited presents a compelling, albeit speculative, investment opportunity rooted in its strategic vision to become the central technology-driven ecosystem for global combat sports. The company's proprietary platforms, particularly the rapidly growing BJJLink, offer a differentiated approach to aggregating a fragmented market. High-profile strategic advisors and a significant partnership with UFC Gym Group underscore a clear intent to accelerate global recognition and commercialization.

While historical financial performance has been characterized by net losses and modest revenue, the substantial reduction in debt and the positive shift in stockholders' equity in 2024 signal a potential inflection point in its financial trajectory. The company's first-mover advantage in building a connected martial arts ecosystem, combined with the booming growth of the combat sports industry, positions MMA for potential long-term value creation. Investors should closely monitor the execution of its strategic initiatives, particularly the expansion of its UFC Gym partnership and the continued growth of its technology platforms, as these will be critical determinants of its ability to translate its technological leadership and strategic alliances into sustainable profitability and market leadership.