AREN · Arena Group Holdings, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.41M | - | $29.76M | $45.01M | $31.82M | - | $33.55M | $27.18M | $28.94M | - |
| Cost of Revenue | $13.32M | - | $14.83M | $19.58M | $16.15M | - | $16.56M | $16.46M | $20.01M | - |
| Gross Profit | $7.08M | - | $14.93M | $25.43M | $15.67M | - | $16.99M | $10.72M | $8.93M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $4.64M | - | $3.21M | $6.20M | $5.28M | - | $6.02M | $8.63M | $10.13M | - |
| Total Operating Expenses | $7.38M | - | $5.43M | $9.02M | $8.31M | - | $8.94M | $13.30M | $16.88M | - |
| D&A | $893.0K | - | $877.0K | $881.0K | $890.0K | - | $905.0K | $913.0K | $987.0K | - |
| Operating Income | ($304.0K) | - | $9.49M | $16.41M | $7.36M | - | $8.05M | ($2.58M) | ($7.95M) | - |
| Interest Expense | $2.42M | - | $2.84M | $2.94M | $3.00M | - | $3.16M | $4.25M | $4.34M | - |
| Income Tax | ($142.0K) | - | ($304.0K) | $979.0K | $286.0K | - | $40.0K | $35.0K | $41.0K | - |
| Net Income | ($2.66M) | - | $6.87M | $108.64M | $4.02M | - | $3.96M | ($8.19M) | ($103.36M) | - |
| EPS - Basic | ($0.06) | - | $0.14 | $2.29 | $0.08 | - | $0.11 | ($0.28) | ($3.91) | - |
| EPS - Diluted | ($0.06) | - | $0.14 | $2.28 | $0.08 | - | $0.11 | ($0.28) | ($3.91) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $11.23M | $10.34M | $12.52M | $6.77M | $2.90M | $4.36M | $5.77M | $6.08M | $4.00M | $9.28M |
| Accounts Receivable | $18.15M | $22.27M | $26.20M | $40.08M | $31.56M | $31.11M | $25.86M | $22.70M | $26.45M | $44.81M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $3.06M | $1.68M | $2.00M | $3.37M | $3.62M | $4.84M | $4.19M | $4.98M | $8.80M | $10.36M |
| Current Assets | $32.50M | $35.63M | $44.65M | $51.41M | $39.15M | $40.23M | $37.83M | $35.35M | $43.17M | $90.40M |
| Total Assets | $108.25M | $112.60M | $121.36M | $127.78M | $114.64M | $116.35M | $114.22M | $113.36M | $120.29M | $188.88M |
| Current Liabilities | $15.49M | $17.00M | $17.81M | $28.21M | $119.77M | $122.26M | $247.43M | $266.93M | $268.18M | $236.02M |
| Long-term Debt | $97.59M | $97.58M | $110.53M | $110.50M | $110.47M | $110.44M | $102.40M | $102.37M | $102.34M | $102.31M |
| Total Liabilities | $115.67M | $117.43M | $131.58M | $144.94M | $240.59M | $246.51M | $251.54M | $270.39M | $269.68M | $247.71M |
| Stockholders' Equity | ($7.42M) | ($4.83M) | ($10.39M) | ($17.33M) | ($126.12M) | ($130.33M) | ($137.48M) | ($157.20M) | ($149.55M) | ($58.99M) |
| Retained Earnings | ($357.16M) | ($354.50M) | ($359.84M) | ($366.70M) | ($475.34M) | ($479.36M) | ($486.24M) | ($490.20M) | ($482.01M) | ($378.65M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.96M | - | - | - | $3.66M | - | - | - | ($1.97M) | - |
| Investing Cash Flow | ($1.07M) | - | - | - | ($1.62M) | - | - | - | ($713.0K) | - |
| Financing Cash Flow | $0 | - | - | - | ($3.50M) | - | - | - | ($2.60M) | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 34.7% | - | 50.2% | 56.5% | 49.3% | - | 50.6% | 39.4% | 30.9% | - |
| Operating margin | -1.5% | - | 31.9% | 36.5% | 23.1% | - | 24.0% | -9.5% | -27.5% | - |
| EBITDA margin | 2.9% | - | 34.9% | 38.4% | 25.9% | - | 26.7% | -6.1% | -24.1% | - |
| Net margin | -13.0% | - | 23.1% | 241.4% | 12.6% | - | 11.8% | -30.1% | -357.1% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 22.7% | - | 10.8% | 13.8% | 16.6% | - | 17.9% | 31.8% | 35.0% | - |
| Effective tax rate | - | - | -4.6% | 0.9% | 6.6% | - | 1.0% | - | - | - |
| Return on assets | -2.5% | - | 5.7% | 85.0% | 3.5% | - | 3.5% | -7.2% | -85.9% | - |
| Return on equity | 35.8% | - | -66.1% | -627.0% | -3.2% | - | -2.9% | 5.2% | 69.1% | - |
| Return on invested capital | -0.3% | - | 9.5% | 17.5% | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 2.10 | 2.10 | 2.51 | 1.82 | 0.33 | 0.33 | 0.15 | 0.13 | 0.16 | 0.38 |
| Quick ratio | 2.10 | 2.10 | 2.51 | 1.82 | 0.33 | 0.33 | 0.15 | 0.13 | 0.16 | 0.38 |
| Cash ratio | 0.73 | 0.61 | 0.70 | 0.24 | 0.02 | 0.04 | 0.02 | 0.02 | 0.01 | 0.04 |
| Leverage | ||||||||||
| Debt / Equity | -13.15 | -20.22 | -10.64 | -6.38 | -0.88 | -0.85 | -0.74 | -0.65 | -0.68 | -1.73 |
| Debt / Assets | 0.90 | 0.87 | 0.91 | 0.86 | 0.96 | 0.95 | 0.90 | 0.90 | 0.85 | 0.54 |
| Debt / EBITDA | 165.69 | - | 10.66 | 6.39 | 13.39 | - | 11.43 | - | - | - |
| Interest coverage | -0.1x | - | 3.3x | 5.6x | 2.5x | - | 2.5x | -0.6x | -1.8x | - |
| Equity multiplier | -14.59 | -23.34 | -11.68 | -7.37 | -0.91 | -0.89 | -0.83 | -0.72 | -0.80 | -3.20 |
| Liabilities / Assets | 1.07 | 1.04 | 1.08 | 1.13 | 2.10 | 2.12 | 2.20 | 2.39 | 2.24 | 1.31 |
| Efficiency | ||||||||||
| Asset turnover | 0.19 | - | 0.25 | 0.35 | 0.28 | - | 0.29 | 0.24 | 0.24 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 325d | - | 321d | 325d | 362d | - | 281d | 305d | 334d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 84d | - | 49d | 63d | 82d | - | 92d | 110d | 160d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | 39.1x | 2.7x | 21.6x | - | 7.4x | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | 5.1x | - | 8.8x | 6.6x | 2.6x | - | 0.9x | 0.8x | 1.1x | - |
| EV / EBITDA | 321.6x | - | 34.6x | 23.1x | 23.0x | - | 14.2x | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -35.9% | - | -11.3% | 65.6% | 9.9% | - | -47.1% | -53.8% | -43.7% | - |
| Revenue CAGR (3y) | -26.5% | - | -23.6% | -11.6% | -13.0% | - | -17.4% | -7.9% | -4.9% | - |
| Revenue CAGR (5y) | -9.5% | - | -1.5% | 14.3% | 0.9% | - | - | - | - | - |
| Gross profit growth (YoY) | -54.8% | - | -12.2% | 137.3% | 75.4% | - | -39.7% | -50.5% | -58.1% | - |
| Operating income growth (YoY) | - | - | 17.9% | - | - | - | - | 82.0% | 45.4% | - |
| Net income growth (YoY) | - | - | 73.5% | - | - | - | - | 58.0% | -433.4% | - |
| EPS growth (YoY) | - | - | 27.3% | - | - | - | - | 77.0% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 94.1% | 96.3% | 92.4% | 89.0% | 15.7% | -120.9% | -132.0% | -144.9% | -183.8% | -13.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$134.83M totalSports And Leisure Segment$47.32M · 35.1%
Finance Segment$38.25M · 28.4%
Lifestyle Segment$38.00M · 28.2%
Platform And Other Segment$11.26M · 8.4%
Product / service
$268.63M totalDigital Revenue$133.81M · 49.8%
Digital Advertising$86.94M · 32.4%
Performance Marketing$19.64M · 7.3%
Publisher Revenue$19.49M · 7.3%
Digital Subscriptions$5.85M · 2.2%
Product And Service Other$1.88M · 0.7%
Print Revenue$1.02M · 0.4%
Geographic
$134.83M totalUS$127.76M · 94.8%
Non Us$7.07M · 5.2%
Peer comparison
Same SIC group: Cable & Other Pay Television Services
Comparing Arena Group Holdings against the 5 most active filers in the same SIC group.