The team made a bigger loss despite upping its turnover from sponsorship and prize money by over $32m, with the numbers reflecting an overall increase in costs in the first year of the new regulations.
Following a reorganisation, the team now operates under the banner of AMR GP Limited, which is a subsidiary of AMR GP Holdings Limited, although the headline numbers across the two entities are in effect the same.
Figures released to the public domain this week show that AMR GP generated turnover in 2022 of $188,728,000, up from $150,438,000 in 2021.
The overall cost of sales, a measure of what the team actually spent to go racing, rose to $152,046,00 from $107,735,000.
With administrative expenses and other income such as government grants taken into account, that resulted in a loss for 2022 of $52,915,000, compared with $43,332,000 in 2021.
Overall staff costs for the group were listed as $54,983,000, an increase of around 10% on the previous year.
Source: Autosport