On the surface, one would think a movie just needs to make the exact amount of money that went into making it, but as we know, it's more complicated than that, since theaters take a piece of the pie, too. The most common formula is profit = gross/2 - budget, but even then, that often doesn't account for the amount of money spent on marketing, not to mention how merchandise can help put a movie in the black, which is especially important for movies as expensive as Space Jam 2
At any rate, the budget for this trainwreck is $150 million, like I mentioned earlier. Not including marketing, it'd need to make $300 million to turn a profit in ticket sales alone. Of course, this ignores viewers watching on HBO Max (subs of which get the movie for free), and it doesn't count merchandising profit.