It was a flop.
It did $30.8m on a $16m budget. You factor in some marketing, and it fell a just bit short of breaking even.
But... It became an absolute cult classic.
A low Single digit millions loss at the box office was vastly easier to overcome with VHS/DVD sales/rentals, and thousands of replays on tv. In not posting a massive loss, it made it easier to make decent money back over time.
It's low budget was a big help as it did not have a tens of millions big hole to cover after its box office run.
2013 Pacific rim flopped even harder. Yet it did good enough on the backend over time, that it eventually got an animated series and a reduced budget sequel.
So there is hope, even if a film flops. It just takes years to see the result.