Mega Backdoor Roth Contribution with a Business Loss

I operate a single-member LLC that’s elected to be taxed as an S-corp. I also have a solo 401(k) plan that includes the option to make mega backdoor Roth contributions.

However, my business is going to show a loss this year, meaning I won’t have any profit to report. Given this situation, I’m wondering if I can still contribute the maximum amount to the mega backdoor Roth, which is $69,000 in 2024.

Is it possible to make these contributions even if the business doesn’t show a profit, or are there limitations I should be aware of due to the loss? Any insights or advice would be greatly appreciated.