This year's National Eisteddfod in Wrexham is understood to have made a loss of around £80,000.
The annual cultural festival recorded a loss for the second year running following a deficit of £47,000 at the event in Blaenau Gwent in 2010.
The losses will be discussed by members of the National Eisteddfod Council at a meeting in Aberystwyth on Saturday.
Plaid Cymru AM Alun Ffred Jones has said the Eisteddfod needed to look at how it was run in the future.
The former heritage minister suggested it may have to move away from some traditions if it was to be profitable.
Organisers said concert income, stands and sponsorship in hard times had contributed to the loss to the event, which moves around the country and celebrates Welsh music and culture.
In July, the eisteddfod's chief executive Elfed Roberts warned jobs could be at risk if it was forced to make more financial savings.
The Welsh Government has said it is committed to the festival.
It will contribute money directly to the Eisteddfod when the Welsh Language Board is abolished next spring.