The film, starring Pedro Pascal alongside Grogu (“Baby Yoda”), earned $102 million in the US and Canada over the Memorial Day weekend and about $165 million worldwide. While that’s a strong start, it falls short of earlier Disney-era “Star Wars” films, including 2018’s “Solo: A Star Wars Story,” which performed better when adjusted for inflation.

“Solo” ultimately became a financial disappointment despite higher early earnings, and analysts say “The Mandalorian and Grogu” has a much smaller budget that could still make it profitable.

Industry experts say the result may point to ongoing “Star Wars” fatigue after years without a new theatrical release since 2019’s “The Rise of Skywalker.” However, Disney is expected to rely on strong audience feedback and franchise popularity to support long-term performance, including merchandise, streaming, and theme park tie-ins.

The “Star Wars” franchise remains one of the most successful in film history, with more than $10 billion in global box office revenue since its launch in 1977. Disney plans to continue the series with “Star Wars: Starfighter,” set for release in 2027.