Antelope Enterpri

Management disclosed fee reductions due to intense competition in 2025, which pushed gross profit to roughly breakeven on 60.8 million dollars revenue for the nine months ended September 30, 2025. First‑half fiscal 2026 gross profit improved to 1.3 million dollars but remains thin and volatile.

With agency take‑rates largely dictated by platform dynamics and live‑host supply, we see little sustainable pricing power.