Meta Reality Labs reports $4.4 billion loss
Business
Meta's Reality Labs—the team behind Quest VR headsets and those Ray-Ban/Oakley AI glasses—reported a huge $4.4 billion loss in Q3 2025.
Still, sales actually jumped 74% from last year, bringing in $470 million, partly due to retailers stocking up for the holidays.
Where's the metaverse money going?
Reality Labs has now lost about $70 billion since 2020, mostly from the high cost of building new AR and VR tech.
Mark Zuckerberg says the Quest headset expenses are a big reason for these losses.
Even with more people buying AI glasses lately, Meta expects revenue to dip next quarter since there aren't any new headsets launching soon.
If you're curious about where all that metaverse money is going—or why your next headset might take a while—this is one to watch.