What is The Arena Group's operating income?

The Arena Group's total operating income in 2025 was $40.79 million, based on the following breakdown: Total Gross Profit: $68.35 million Total Operating Expenses: $27.56 million

The Arena Group (AREN) Financials

$1.00 -0.05 (-4.76%)

As of 03:13 PM Eastern

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Annual Income Statements for The Arena Group

This table shows The Arena Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-0.24	-6.28	-44	-39	-105	-90	-71	-56	-101	125
Consolidated Net Income / (Loss)	-0.24	-6.28	-26	-39	-89	-90	-71	-56	-101	125
Net Income / (Loss) Continuing Operations	-0.24	-6.28	-26	-39	-89	-90	-67	-37	-7.67	29
Total Pre-Tax Income	-0.23	-6.28	-26	-58	-89	-92	-68	-37	-7.42	29
Total Operating Income	-0.25	-6.35	-14	-41	-71	-84	-56	-17	7.87	41
Total Gross Profit	0.00	-1.51	-1.94	6.04	25	79	88	55	56	68
Total Revenue	0.00	0.08	5.70	53	128	189	221	144	126	135
Operating Revenue	-	0.08	5.70	53	128	189	221	144	126	135
Total Cost of Revenue	0.00	1.59	7.64	47	103	111	133	88	70	66
Operating Cost of Revenue	-	1.59	7.64	47	103	111	133	88	70	66
Total Operating Expenses	0.25	4.84	12	47	96	163	144	73	48	28
Selling, General & Admin Expense	0.25	4.72	10	30	36	56	53	44	30	17
Marketing Expense	-	-	1.72	13	44	82	72	24	13	7.03
Depreciation Expense	-	-	0.06	4.55	16	16	18	4.24	3.70	3.47
Impairment Charge	-	-	-	-	-	0.47	0.26	0.12	1.20	0.00
Total Other Income / (Expense), net	0.02	0.07	-12	-17	-18	-7.34	-13	-20	-15	-12
Interest & Investment Income	0.01	0.00	0.02	0.01	0.38	-	-	-	-15	-11
Other Income / (Expense), net	0.01	0.06	-9.66	-6.78	-1.72	-2.60	-1.14	-1.59	-0.62	-0.31
Income Tax Expense	0.00	0.00	-0.09	-20	0.21	-1.67	-1.06	0.20	0.25	0.52
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	0.00	-3.47	-18	-93	96
Basic Earnings per Share	($0.03)	($0.42)	($1.69)	($1.04)	($50.18)	($7.87)	($4.02)	($2.49)	($2.85)	$2.63
Weighted Average Basic Shares Outstanding	8.83M	14.92M	26.13M	37.08M	2.09M	11.43M	17.63M	22.32M	35.41M	47.47M
Diluted Earnings per Share	($0.03)	($0.42)	($1.69)	($1.04)	($50.18)	-	($4.02)	($2.49)	($2.85)	$2.62
Weighted Average Diluted Shares Outstanding	8.83M	14.92M	26.13M	37.08M	2.09M	11.43M	17.63M	22.32M	35.41M	47.67M
Weighted Average Basic & Diluted Shares Outstanding	9.03M	14.92M	26.13M	37.08M	2.09M	11.43M	18.82M	29.77M	-	47.60M

This table shows The Arena Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-11	-5.56	-103	-8.19	3.96	6.88	4.02	109	6.87	5.33	-2.66
Consolidated Net Income / (Loss)	-11	-5.56	-103	-8.19	3.96	6.88	4.02	109	6.87	5.33	-2.66
Net Income / (Loss) Continuing Operations	-8.77	-2.39	-13	-6.94	4.78	7.21	4.00	12	6.87	5.33	-2.66
Total Pre-Tax Income	-8.72	-2.34	-13	-6.90	4.82	7.35	4.28	13	6.56	4.89	-2.80
Total Operating Income	-4.47	3.07	-7.95	-2.58	8.05	10	7.36	16	9.50	7.52	-0.30
Total Gross Profit	14	18	8.93	11	17	19	16	25	15	12	7.08
Total Revenue	37	44	29	27	34	36	32	45	30	28	20
Operating Revenue	37	44	29	27	34	36	32	45	30	28	20
Total Cost of Revenue	23	26	20	16	17	17	16	20	15	16	13
Operating Cost of Revenue	23	26	20	16	17	17	16	20	15	16	13
Total Operating Expenses	18	15	17	13	8.94	8.73	8.31	9.02	5.43	4.80	7.39
Selling, General & Admin Expense	11	8.27	10	8.63	6.02	5.61	5.28	6.20	3.21	2.36	4.64
Marketing Expense	6.42	5.09	4.56	3.75	2.01	2.22	2.13	1.94	1.34	1.62	1.85
Depreciation Expense	1.06	1.03	0.99	0.91	0.91	0.90	0.89	0.88	0.88	0.82	0.89
Total Other Income / (Expense), net	-4.25	-5.41	-4.73	-4.33	-3.24	-3.00	-3.08	-3.02	-2.93	-2.63	-2.50
Interest & Investment Income	-	-	-	-	-3.16	-	-3.00	-	-2.86	-	-2.42
Other Income / (Expense), net	-0.21	-0.67	-0.39	-0.08	-0.08	-0.08	-0.08	0.00	-0.08	-0.15	-0.08
Income Tax Expense	0.05	0.05	0.04	0.04	0.04	0.13	0.29	0.98	-0.30	-0.44	-0.14
Net Income / (Loss) Discontinued Operations	-2.39	-3.16	-91	-1.25	-0.82	-0.33	0.02	96	0.00	-	0.00
Basic Earnings per Share	($0.47)	($0.10)	($3.91)	($0.28)	$0.11	$1.23	$0.08	$2.29	$0.14	$0.12	($0.06)
Weighted Average Basic Shares Outstanding	23.45M	22.32M	26.44M	29.40M	37.61M	35.41M	47.46M	47.40M	47.39M	47.47M	47.49M
Diluted Earnings per Share	($0.47)	($0.10)	($3.91)	($0.28)	$0.11	$1.23	$0.08	$2.28	$0.14	$0.12	($0.06)
Weighted Average Diluted Shares Outstanding	23.45M	22.32M	26.44M	29.40M	37.61M	35.41M	47.47M	47.64M	47.70M	47.67M	47.49M
Weighted Average Basic & Diluted Shares Outstanding	-	29.77M	29.60M	29.59M	47.47M	0.00	47.56M	47.47M	47.47M	47.60M	47.60M

This table details how cash moves in and out of The Arena Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2015	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	0.44	0.00	3.02	-1.09	3.88	-13	0.32	4.52	-5.09	-4.92	5.98
Net Cash From Operating Activities	-0.16	-0.15	-4.19	-7.41	-57	-46	-15	-11	-25	-16	39
Net Cash From Continuing Operating Activities	-0.16	-0.15	-4.19	-7.41	-60	-46	-15	-11	-25	-16	39
Net Income / (Loss) Continuing Operations	-0.24	-0.20	-6.28	-26	-39	-89	-90	-71	-56	-101	125
Consolidated Net Income / (Loss)	-0.24	-0.20	-6.28	-26	-39	-89	-90	-71	-56	-101	125
Depreciation Expense	-	-	0.01	0.03	0.28	0.64	0.44	0.54	0.35	0.23	0.09
Amortization Expense	-	-	0.51	3.03	15	31	27	28	30	13	8.94
Non-Cash Adjustments To Reconcile Net Income	0.07	0.05	1.49	0.62	-21	52	28	38	17	35	-46
Changes in Operating Assets and Liabilities, net	0.00	-0.01	0.07	1.97	-16	-39	20	-6.96	-16	37	-48
Net Cash From Investing Activities	0.60	0.16	-2.04	-24	-19	-4.93	-13	-39	-3.21	-5.18	-9.59
Net Cash From Continuing Investing Activities	0.60	0.16	-2.04	-24	-19	-4.93	-13	-39	-3.21	-5.18	-9.59
Purchase of Property, Plant & Equipment	-	-	-0.06	-0.03	-0.15	-1.21	-0.38	-0.53	0.00	-0.05	0.00
Acquisitions	-	-	0.00	-18	-16	-0.32	-7.95	-35	-0.50	0.00	-2.55
Other Investing Activities, net	-	-	-1.98	-5.52	-2.54	-3.75	-4.82	-5.18	-3.77	-5.12	-7.04
Net Cash From Financing Activities	0.00	0.00	9.25	30	83	37	28	54	23	16	-24
Net Cash From Continuing Financing Activities	0.00	0.00	9.25	30	83	37	28	54	23	16	-24
Repayment of Debt	-	-	0.00	-2.67	-26	-1.69	4.81	-3.82	-0.46	-20	-24
Issuance of Debt	-	-	3.00	16	71	19	5.09	35	14	26	0.00
Issuance of Common Equity	-	-	6.25	1.25	-	0.00	20	32	12	12	0.00
Other Financing Activities, net	-	-	0.00	3.29	2.00	-0.17	-1.54	-6.98	-1.50	-1.30	-0.03
Cash Interest Paid	-	-	0.00	0.04	2.85	0.65	1.39	9.53	12	18	12
Cash Income Taxes Paid	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.09	0.09	0.86

This table details how cash moves in and out of The Arena Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	1.30	1.99	-5.28	2.08	-0.31	-1.41	-1.46	3.87	5.75	-2.19	0.89
Net Cash From Operating Activities	-5.87	-2.51	-1.97	-3.20	-2.35	-8.57	3.66	10	12	13	1.96
Net Cash From Continuing Operating Activities	-5.87	-2.51	-1.97	-3.20	-2.35	-8.57	3.66	10	12	13	1.96
Net Income / (Loss) Continuing Operations	-11	-5.56	-103	-8.19	3.96	6.88	4.02	109	6.87	5.33	-2.66
Consolidated Net Income / (Loss)	-11	-5.56	-103	-8.19	3.96	6.88	4.02	109	6.87	5.33	-2.66
Depreciation Expense	0.08	0.08	0.07	0.06	0.06	0.05	0.04	0.03	0.02	0.01	0.00
Amortization Expense	7.37	6.72	5.41	2.42	2.35	2.34	2.16	1.99	2.34	2.45	1.96
Non-Cash Adjustments To Reconcile Net Income	-0.78	-1.81	34	7.22	1.06	-5.86	-1.07	-45	-0.19	-0.67	-0.55
Changes in Operating Assets and Liabilities, net	-1.37	-1.94	62	-4.70	-9.77	-12	-1.48	-56	3.13	5.99	3.21
Net Cash From Investing Activities	-0.84	0.26	-0.71	-0.80	-1.31	-2.36	-1.62	-1.93	-3.75	-2.30	-1.07
Net Cash From Continuing Investing Activities	-0.84	0.26	-0.71	-0.80	-1.31	-2.36	-1.62	-1.93	-3.75	-2.30	-1.07
Acquisitions	-	-	-	-	-	-	0.00	-	-	-1.55	-0.30
Other Investing Activities, net	-0.84	-0.81	-0.71	-0.77	-1.28	-2.36	-1.62	-1.93	-2.75	-0.75	-0.77
Net Cash From Financing Activities	8.00	4.25	-2.60	6.08	3.34	9.51	-3.50	-4.51	-2.66	-13	0.00
Net Cash From Continuing Financing Activities	8.00	4.25	-2.60	6.08	3.34	9.51	-3.50	-4.51	-2.66	-13	0.00
Repayment of Debt	2.30	-3.57	0.00	-20	-	-20	-3.50	-4.50	-2.65	-13	0.00
Other Financing Activities, net	-	-	-2.74	1.50	-0.01	-0.04	-0.00	-0.01	-0.01	-0.00	0.00
Cash Interest Paid	3.70	1.27	0.96	1.07	0.67	15	2.97	2.91	2.84	2.83	2.44
Cash Income Taxes Paid	-	-	0.09	-	-	-	0.00	-	0.52	0.35	0.04

This table presents The Arena Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	2.35	2.58	6.57	37	197	214	174	204	189	116	113
Total Current Assets	2.35	2.16	3.86	9.53	48	74	78	79	90	40	36
Cash & Equivalents	0.55	1.79	0.62	2.41	8.85	9.03	9.35	14	9.28	4.36	10
Accounts Receivable	0.00	0.00	-	0.00	16	16	22	34	32	31	22
Prepaid Expenses	-	0.36	0.17	0.86	4.31	4.67	4.75	4.44	5.79	4.76	3.02
Plant, Property, & Equipment, net	0.00	1.64	0.05	0.07	0.66	1.13	0.64	0.74	0.33	0.15	0.06
Total Noncurrent Assets	0.00	-1.23	2.65	28	148	139	96	124	98	76	77
Goodwill	-	-	0.00	7.32	16	16	20	39	43	43	43
Intangible Assets	-	0.06	0.02	15	91	72	57	59	27	23	22
Other Noncurrent Operating Assets	-	-1.29	2.63	4.83	41	52	19	26	9.90	11	12
Total Liabilities & Shareholders' Equity	2.35	2.58	6.57	37	197	214	174	204	189	116	113
Total Liabilities	0.09	0.69	3.42	30	178	216	212	243	248	247	117
Total Current Liabilities	0.09	0.69	0.42	22	88	108	116	216	236	122	17
Accounts Payable	0.01	0.31	0.16	4.94	9.58	8.23	12	13	7.80	4.84	1.68
Accrued Expenses	-	0.11	0.15	2.38	16	15	24	23	29	11	7.63
Customer Deposits	-	-	-	0.00	3.14	4.04	3.09	0.85	0.05	0.43	0.51
Current Deferred Revenue	-	0.00	0.03	0.40	32	62	54	59	17	6.35	3.25
Other Current Liabilities	0.08	0.27	0.07	13	25	12	5.57	41	13	3.48	3.94
Total Noncurrent Liabilities	0.00	0.00	3.00	8.13	91	109	95	26	12	124	100
Long-Term Debt	-	-	0.00	7.58	57	62	64	-	0.00	121	98
Noncurrent Deferred Revenue	-	-	0.00	0.30	31	23	15	20	0.54	0.40	0.04
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	0.00	0.21	0.36	0.47	0.60	0.80	0.73
Other Noncurrent Operating Liabilities	-	0.00	3.00	0.24	2.86	23	15	6.16	0.41	1.96	2.07
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2.10	1.55	2.98	-11	-37	-20	-52	-52	-59	-130	-4.83
Total Preferred & Common Equity	2.10	1.55	2.98	-11	-37	-20	-52	-52	-59	-130	-4.83
Total Common Equity	2.10	1.55	2.98	-11	-37	-20	-52	-52	-59	-130	-4.83
Common Stock	65	5.90	11	24	36	142	201	271	320	349	350
Retained Earnings	-63	-4.38	-8.47	-35	-73	-162	-252	-323	-379	-479	-355

This table presents The Arena Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	120	113	114	115	128	121	108
Total Current Assets	43	35	38	39	51	45	33
Cash & Equivalents	4.00	6.09	5.77	2.90	6.77	13	11
Accounts Receivable	26	23	26	32	40	26	18
Prepaid Expenses	7.02	5.56	5.68	4.68	4.57	5.92	3.13
Plant, Property, & Equipment, net	0.26	0.23	0.20	0.11	0.08	0.06	0.06
Total Noncurrent Assets	77	78	76	75	76	77	76
Goodwill	43	43	43	43	43	43	43
Intangible Assets	25	24	24	22	22	21	22
Other Noncurrent Operating Assets	8.95	11	9.98	11	12	13	12
Total Liabilities & Shareholders' Equity	120	113	114	115	128	121	108
Total Liabilities	270	270	252	241	145	132	116
Total Current Liabilities	268	267	247	120	28	18	15
Accounts Payable	8.80	4.98	4.19	3.62	3.37	2.00	3.06
Accrued Expenses	27	27	23	11	16	7.26	5.35
Customer Deposits	-	-	-	0.66	0.77	0.24	0.58
Current Deferred Revenue	12	11	7.57	5.23	4.79	4.47	2.47
Other Current Liabilities	19	24	11	3.40	3.38	3.84	4.02
Total Noncurrent Liabilities	1.50	3.46	4.11	121	117	114	100
Long-Term Debt	-	-	1.10	118	113	111	98
Noncurrent Deferred Revenue	0.62	0.53	0.36	0.19	0.37	0.34	0.04
Noncurrent Deferred & Payable Income Tax Liabilities	0.63	0.66	0.69	0.83	0.87	0.87	0.59
Other Noncurrent Operating Liabilities	0.24	2.27	1.96	2.18	2.34	2.03	1.96
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-150	-157	-137	-126	-17	-10	-7.42
Total Preferred & Common Equity	-150	-157	-137	-126	-17	-10	-7.42
Total Common Equity	-150	-157	-137	-126	-17	-10	-7.42
Common Stock	332	333	349	349	349	349	350
Retained Earnings	-482	-490	-486	-475	-367	-360	-357

This table displays calculated financial ratios and metrics derived from The Arena Group's official financial filings.

Metric	2014	2015	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2015	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	8,958,325.00	9,282,981.00	28,516,009.00	33,459,013.00	36,938,926.00	175,597,695.00	264,202,421.00	18,245,040.00	23,790,867.00	-	47,465,749.00
DEI Adjusted Shares Outstanding	8,958,325.00	9,282,981.00	28,516,009.00	33,459,013.00	36,938,926.00	175,597,695.00	264,202,421.00	18,245,040.00	23,790,867.00	-	47,465,749.00
DEI Earnings Per Adjusted Shares Outstanding	-0.03	-0.02	-0.22	-1.32	-1.04	-0.60	-0.34	-3.88	-2.34	-	2.63
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	7,303.34%	835.81%	140.02%	47.73%	16.81%	-34.99%	-12.34%	7.09%
EBITDA Growth	-9.06%	7.12%	0.00%	-257.84%	-56.73%	-28.36%	-43.74%	52.46%	138.93%	81.32%	147.56%
EBIT Growth	-9.06%	7.12%	0.00%	-276.67%	-101.04%	-53.18%	-19.17%	34.37%	66.59%	138.05%	458.43%
NOPAT Growth	2.48%	11.23%	0.00%	-120.71%	-191.21%	-74.44%	-18.39%	33.69%	68.76%	145.07%	627.32%
Net Income Growth	-33.00%	16.38%	0.00%	-314.81%	-47.70%	-131.76%	-0.79%	21.22%	21.56%	-81.19%	223.98%
EPS Growth	-50.00%	33.33%	0.00%	-302.38%	38.46%	-4,725.00%	0.00%	0.00%	38.06%	-14.46%	191.93%
Operating Cash Flow Growth	-11.80%	4.58%	0.00%	-76.78%	-668.12%	19.89%	67.72%	23.25%	-119.14%	35.10%	344.13%
Free Cash Flow Firm Growth	13.63%	10.79%	0.00%	0.00%	-241.93%	49.67%	13.56%	12.47%	-14.32%	22.73%	247.00%
Invested Capital Growth	4.25%	5.87%	0.00%	3,012.53%	390.25%	-13.11%	-40.52%	-23.30%	88.22%	66.27%	-0.37%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	362.75%	120.70%	7.31%	11.01%	-3.90%	-5.33%	-46.28%	-5.59%
EBITDA Q/Q Growth	-6.18%	9.26%	0.00%	0.17%	-5,487.08%	-11.92%	2.81%	25.47%	1,109.54%	1,210.55%	-5.40%
EBIT Q/Q Growth	46.91%	9.26%	0.00%	-4.06%	-387.39%	-7.33%	2.73%	14.45%	35.69%	138.24%	-6.68%
NOPAT Q/Q Growth	3.30%	-51.75%	0.00%	38.40%	-317.92%	4.65%	-1.53%	14.57%	37.43%	144.34%	-4.84%
Net Income Q/Q Growth	11.32%	31.02%	0.00%	12.18%	-8.49%	-34.18%	3.14%	6.26%	13.70%	10.99%	-1.22%
EPS Q/Q Growth	25.00%	33.33%	0.00%	-5.63%	-11.83%	-2,904.79%	0.00%	0.00%	0.00%	31.82%	-29.76%
Operating Cash Flow Q/Q Growth	9.85%	-2.01%	0.00%	-1.36%	-4.70%	-86.37%	56.18%	46.54%	-31.12%	-60.54%	123.47%
Free Cash Flow Firm Q/Q Growth	98.40%	-81.08%	100.00%	4.43%	-2,031.36%	59.31%	14.12%	46.92%	-240.92%	61.15%	220.76%
Invested Capital Q/Q Growth	27.65%	46.39%	-123.32%	22.95%	0.00%	18.94%	7.81%	-40.93%	0.00%	41.97%	-6.12%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	0.00%	-1,965.90%	-34.06%	11.33%	19.50%	41.56%	39.84%	38.48%	44.25%	50.69%
EBITDA Margin	0.00%	0.00%	-7,481.01%	-361.59%	-60.56%	-32.39%	-31.51%	-12.82%	7.68%	15.89%	36.72%
Operating Margin	0.00%	0.00%	-8,246.43%	-245.85%	-76.50%	-55.60%	-44.56%	-25.29%	-12.16%	6.25%	30.25%
EBIT Margin	0.00%	0.00%	-8,162.51%	-415.30%	-89.22%	-56.94%	-45.94%	-25.81%	-13.27%	5.76%	30.03%
Profit (Net Income) Margin	0.00%	0.00%	-8,161.98%	-457.32%	-72.18%	-69.69%	-47.55%	-32.07%	-38.70%	-79.99%	92.61%
Tax Burden Percent	100.34%	100.41%	100.00%	99.65%	66.33%	100.24%	98.17%	103.52%	150.15%	1,357.64%	428.65%
Interest Burden Percent	94.36%	84.90%	99.99%	110.50%	121.96%	122.11%	105.45%	120.04%	194.29%	-102.32%	71.95%
Effective Tax Rate	0.00%	-0.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.79%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	-149.37%	-71.17%	-79.97%	-127.69%	-128.48%	-32.09%	8.32%	48.52%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	-1,457.27%	-107.82%	-152.98%	-174.54%	-174.59%	-81.98%	-57.80%	105.06%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	-340.24%	-224.07%	-989.43%	580.92%	313.09%	145.95%	98.36%	-233.75%
Return on Equity (ROE)	-9.47%	-8.42%	-249.63%	-489.61%	-295.24%	-1,069.40%	453.23%	184.62%	113.86%	106.67%	-185.23%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	-175.56%	-203.40%	-65.95%	-76.87%	-102.10%	-93.30%	-41.46%	48.89%
Operating Return on Assets (OROA)	0.00%	0.00%	-137.46%	-108.28%	-40.65%	-35.46%	-44.76%	-30.19%	-9.71%	4.75%	35.37%
Return on Assets (ROA)	0.00%	0.00%	-137.45%	-119.23%	-32.89%	-43.40%	-46.34%	-37.52%	-28.32%	-65.99%	109.07%
Return on Common Equity (ROCE)	-8.83%	-7.82%	-224.57%	355.62%	540.92%	3,677.04%	822.11%	249.71%	129.62%	106.96%	-185.69%
Return on Equity Simple (ROE_SIMPLE)	-10.49%	-	-210.62%	243.22%	103.87%	439.28%	174.04%	135.88%	94.21%	77.27%	0.00%
Net Operating Profit after Tax (NOPAT)	-0.18	-0.23	-4.44	-9.81	-29	-50	-59	-39	-12	5.51	40
NOPAT Margin	0.00%	0.00%	-5,772.50%	-172.09%	-53.55%	-38.92%	-31.19%	-17.71%	-8.51%	4.37%	29.71%
Net Nonoperating Expense Percent (NNEP)	-2.26%	1.23%	-50.83%	1,307.90%	36.66%	73.01%	46.85%	46.11%	49.89%	66.12%	-56.54%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-19.42%	-59.61%	43.19%
Cost of Revenue to Revenue	0.00%	0.00%	2,065.90%	134.06%	88.67%	80.50%	58.44%	60.16%	61.52%	55.75%	49.31%
SG&A Expenses to Revenue	0.00%	0.00%	6,131.34%	180.47%	55.32%	28.12%	29.40%	24.21%	30.48%	24.14%	12.65%
R&D to Revenue	0.00%	0.00%	149.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	0.00%	0.00%	6,280.53%	211.79%	87.83%	75.10%	86.12%	65.13%	50.64%	38.00%	20.44%
Earnings before Interest and Taxes (EBIT)	-0.25	-0.23	-6.28	-24	-48	-73	-87	-57	-19	7.25	40
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-0.25	-0.23	-5.76	-21	-32	-41	-60	-28	11	20	50
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	0.00	7.75	0.55	0.16	0.74	0.88	0.39	0.51	1.41
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.52
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	65.76%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	5.04	2.00	1.71	6.56	10.30	3.41	2.18	3.36
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	12.01	2.50	0.77	1.20	1.23	1.18	1.43	2.06
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	15.37	9.02	5.60
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	24.90	6.84
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	32.77	6.92
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	7.06
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	6.86
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	1.15	3.10	-36.56	-2.17	-2.05	-2.08	-0.93	-20.22
Long-Term Debt to Equity	0.00	0.00	0.00	1.01	3.06	-32.78	-1.70	0.00	0.00	-0.93	-20.22
Financial Leverage	-1.02	-1.02	-1.15	0.23	2.08	6.47	-3.33	-1.79	-1.78	-1.70	-2.22
Leverage Ratio	1.04	1.04	1.82	4.11	8.98	24.64	-9.78	-4.92	-4.02	-1.62	-1.70
Compound Leverage Factor	0.98	0.88	1.82	4.54	10.95	30.09	-10.31	-5.91	-7.81	1.65	-1.22
Debt to Total Capital	0.00%	0.00%	0.00%	53.52%	75.59%	102.81%	185.28%	195.50%	192.73%	-1,334.59%	105.20%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	6.50%	0.97%	10.64%	40.01%	195.50%	192.73%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	47.02%	74.62%	92.17%	145.27%	0.00%	0.00%	-1,334.59%	105.20%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	6.98%	7.44%	5.35%	112.93%	73.08%	27.29%	31.34%	32.29%	0.53%	-1.85%	0.00%
Common Equity to Total Capital	93.02%	92.56%	94.65%	-66.45%	-48.68%	-30.10%	-116.62%	-127.79%	-93.26%	1,436.44%	-5.20%
Debt to EBITDA	0.00	0.00	0.00	-0.42	-1.78	-1.67	-1.38	-2.82	11.05	6.05	1.97
Net Debt to EBITDA	0.00	0.00	0.00	-0.30	-1.49	-1.44	-1.21	-2.31	10.21	5.84	1.76
Long-Term Debt to EBITDA	0.00	0.00	0.00	-0.37	-1.76	-1.50	-1.08	0.00	0.00	6.05	1.97
Debt to NOPAT	0.00	0.00	0.00	-0.88	-2.02	-1.39	-1.39	-2.04	-9.98	21.98	2.44
Net Debt to NOPAT	0.00	0.00	0.00	-0.62	-1.68	-1.20	-1.22	-1.67	-9.22	21.19	2.18
Long-Term Debt to NOPAT	0.00	0.00	0.00	-0.77	-1.99	-1.25	-1.09	0.00	0.00	21.98	2.44
Altman Z-Score	0.00	0.00	0.00	-2.74	-1.19	-1.72	-2.46	-2.39	-3.17	-5.17	-0.86
Noncontrolling Interest Sharing Ratio	6.77%	7.20%	10.04%	172.63%	283.22%	443.84%	-81.39%	-35.25%	-13.84%	-0.27%	-0.25%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	28.21	27.36	9.27	0.44	0.55	0.69	0.67	0.36	0.38	0.33	2.10
Quick Ratio	27.88	27.01	1.49	0.11	0.29	0.24	0.27	0.22	0.17	0.29	1.92
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-0.18	-0.23	0.00	-24	-82	-41	-36	-31	-36	-27	40
Operating Cash Flow to CapEx	0.00%	0.00%	-7,051.65%	-23,445.92%	-37,777.38%	-3,764.56%	-3,906.90%	-2,132.83%	0.00%	-29,770.37%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-9.52	-7.80	-2.49	-7.51	-2.72	-1.98	-1.87	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	-2.96	-5.44	-2.77	-3.11	-0.99	-1.38	-1.10	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	-2.97	-5.46	-2.84	-3.19	-1.04	-1.32	-1.10	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.02	0.26	0.46	0.62	0.97	1.17	0.73	0.83	1.18
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	7.82	9.91	7.95	4.38	4.01	5.05
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.09	92.31	146.12	143.00	214.27	322.30	270.24	529.02	1,321.84
Accounts Payable Turnover	0.00	0.00	6.75	2.99	6.51	11.57	10.94	10.70	8.55	11.10	20.39
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	46.66	36.82	45.94	83.39	91.01	72.26
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	54.04	121.94	56.04	31.54	33.37	34.11	42.69	32.88	17.90
Cash Conversion Cycle (CCC)	0.00	0.00	-54.04	-121.94	-56.04	15.12	3.45	11.82	40.70	58.13	54.36
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-0.06	-0.06	-0.47	14	67	58	34	26	50	83	82
Invested Capital Turnover	0.00	0.00	-0.16	0.87	1.33	2.05	4.09	7.26	3.77	1.90	1.63
Increase / (Decrease) in Invested Capital	0.00	0.00	0.00	14	53	-8.74	-23	-8.03	23	33	-0.31
Enterprise Value (EV)	0.00	0.00	0.00	68	133	99	226	272	170	180	277
Market Capitalization	0.00	0.00	0.00	44	30	21	140	194	57	64	190
Book Value per Share	$0.25	$0.23	$0.10	($0.32)	($1.00)	($0.52)	($0.20)	($2.86)	($2.48)	($2.75)	($0.10)
Tangible Book Value per Share	$0.25	$0.23	$0.10	($1.00)	($3.91)	($2.76)	($0.49)	($8.25)	($5.42)	($4.12)	($1.47)
Total Capital	2.42	2.27	3.15	16	76	67	44	41	63	-9.07	93
Total Debt	0.00	0.00	0.00	8.63	58	69	82	80	122	121	98
Total Long-Term Debt	0.00	0.00	0.00	7.58	57	62	64	0.00	0.00	121	98
Net Debt	-2.48	-2.32	-3.62	6.11	48	60	72	65	113	117	87
Capital Expenditures (CapEx)	0.00	0.00	0.06	0.03	0.15	1.21	0.38	0.53	-1.06	0.05	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-0.06	-0.06	-0.17	-13	-48	-36	-31	-72	-33	-86	8.29
Debt-free Net Working Capital (DFNWC)	2.42	2.27	3.44	-11	-39	-27	-21	-58	-24	-82	19
Net Working Capital (NWC)	2.42	2.27	3.44	-12	-39	-34	-39	-138	-146	-82	19
Net Nonoperating Expense (NNE)	0.06	-0.03	1.84	16	9.93	39	31	32	43	106	-85
Net Nonoperating Obligations (NNO)	-2.48	-2.32	-3.62	6.11	48	60	72	65	108	213	87
Total Depreciation and Amortization (D&A)	0.00	0.00	0.52	3.06	15	31	27	29	30	13	9.03
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	-226.93%	-236.52%	-90.19%	-28.17%	-16.32%	-32.71%	-22.97%	-68.61%	6.15%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	4,473.70%	-192.18%	-72.44%	-20.73%	-11.11%	-26.20%	-16.50%	-65.14%	13.82%
Net Working Capital to Revenue	0.00%	0.00%	4,473.70%	-210.57%	-73.82%	-26.33%	-20.48%	-62.31%	-101.39%	-65.14%	13.82%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.03)	($0.02)	($0.42)	($1.69)	$0.00	($2.28)	($7.87)	($4.02)	($2.49)	($2.85)	$2.63
Adjusted Weighted Average Basic Shares Outstanding	8.83M	9.15M	14.92M	26.13M	0.00	2.09M	17.42M	17.63M	22.32M	35.41M	47.47M
Adjusted Diluted Earnings per Share	($0.03)	($0.02)	($0.42)	($1.69)	$0.00	($2.28)	($7.87)	$0.00	($2.49)	($2.85)	$2.62
Adjusted Weighted Average Diluted Shares Outstanding	8.83M	9.15M	14.92M	26.13M	0.00	2.09M	17.42M	18.82M	22.32M	35.41M	47.67M
Adjusted Basic & Diluted Earnings per Share	($0.03)	($0.02)	($0.42)	($1.69)	$0.00	($2.28)	($7.87)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	9.03M	9.90M	14.92M	26.13M	0.00	45.98M	11.43M	18.82M	29.77M	0.00	47.60M
Normalized Net Operating Profit after Tax (NOPAT)	-0.18	-0.16	-4.44	-9.81	-29	-50	-58	-39	-12	6.35	40
Normalized NOPAT Margin	0.00%	0.00%	-5,772.50%	-172.09%	-53.55%	-38.77%	-30.58%	-17.62%	-8.29%	5.04%	29.71%
Pre Tax Income Margin	0.00%	0.00%	-8,161.98%	-458.92%	-108.81%	-69.53%	-48.44%	-30.98%	-25.77%	-5.89%	21.60%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	-9.44	-4.55	-4.42	-18.36	-4.99	-1.06	0.49	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	-3.91	-2.73	-3.02	-12.47	-3.42	-0.68	0.38	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	-9.45	-4.56	-4.49	-18.44	-5.04	-1.00	0.49	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	-3.92	-2.74	-3.09	-12.55	-3.47	-0.62	0.37	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	-0.61%	-5.96%	-0.58%	0.00%	-2.21%	-0.30%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from The Arena Group's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	23,790,867.00	23,790,867.00	29,770,553.00	29,599,934.00	29,591,630.00	-	47,465,749.00	47,560,952.00	47,465,749.00	47,465,749.00	47,602,790.00
DEI Adjusted Shares Outstanding	23,790,867.00	23,790,867.00	29,770,553.00	29,599,934.00	29,591,630.00	-	47,465,749.00	47,560,952.00	47,465,749.00	47,465,749.00	47,602,790.00
DEI Earnings Per Adjusted Shares Outstanding	-0.47	-0.23	-3.47	-0.28	0.13	-	0.08	2.28	0.14	0.11	-0.06
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-44.54%	-15.49%	1.84%	-20.22%	-9.30%	-17.93%	9.93%	65.59%	-11.31%	-22.05%	-35.86%
EBITDA Growth	149.48%	1,096.32%	-26.30%	-113.05%	274.68%	37.63%	430.80%	10,693.68%	13.34%	-22.35%	-83.36%
EBIT Growth	63.38%	129.36%	19.30%	58.79%	270.52%	327.79%	187.37%	718.39%	18.06%	-28.23%	-105.20%
NOPAT Growth	64.08%	141.62%	18.11%	59.42%	355.43%	372.78%	223.44%	942.96%	24.39%	-19.27%	-103.10%
Net Income Growth	32.35%	61.37%	-433.41%	57.98%	135.43%	223.83%	103.89%	1,426.97%	73.53%	-22.46%	-166.12%
EPS Growth	0.00%	0.00%	-275.96%	68.18%	123.40%	1,330.00%	102.05%	914.29%	27.27%	-90.24%	-175.00%
Operating Cash Flow Growth	18.67%	-174.35%	-17.52%	78.30%	60.00%	-241.80%	286.36%	422.53%	618.37%	253.05%	-46.45%
Free Cash Flow Firm Growth	293.71%	-838.12%	-242.97%	-194.20%	-220.80%	-7.77%	-27.01%	-155.40%	61.06%	137.30%	115.83%
Invested Capital Growth	0.00%	88.22%	116.04%	58.32%	0.00%	66.27%	101.30%	149.52%	50.65%	-0.37%	-6.93%
Revenue Q/Q Growth	8.58%	19.32%	-34.44%	-6.07%	23.44%	7.97%	-12.18%	41.48%	-33.88%	-5.10%	-27.74%
EBITDA Q/Q Growth	107.95%	231.75%	-131.18%	93.93%	6,068.97%	21.86%	-25.06%	94.36%	-36.14%	-16.52%	-83.94%
EBIT Q/Q Growth	27.36%	151.30%	-447.50%	68.18%	400.57%	28.71%	-29.03%	125.22%	-42.62%	-21.76%	-105.14%
NOPAT Q/Q Growth	29.69%	168.70%	-359.07%	67.58%	542.60%	27.16%	-32.36%	121.42%	-34.69%	-17.46%	-102.60%
Net Income Q/Q Growth	42.69%	50.25%	-1,760.63%	92.08%	148.32%	73.89%	-41.56%	2,602.46%	-93.68%	-22.30%	-149.83%
EPS Q/Q Growth	46.59%	78.72%	-3,810.00%	92.84%	139.29%	1,018.18%	-93.50%	2,750.00%	-93.86%	-14.29%	-150.00%
Operating Cash Flow Q/Q Growth	60.18%	57.25%	21.62%	-62.65%	26.60%	-265.26%	142.74%	181.49%	17.98%	7.84%	-85.05%
Free Cash Flow Firm Q/Q Growth	161.81%	-150.86%	-33.20%	46.89%	-235.74%	54.63%	-56.98%	-6.80%	48.81%	143.46%	-33.39%
Invested Capital Q/Q Growth	-100.00%	0.00%	-15.30%	-15.15%	62.97%	41.97%	2.54%	5.18%	-1.61%	-6.12%	-4.21%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	37.71%	40.27%	30.87%	39.43%	50.64%	52.65%	49.25%	56.51%	50.16%	43.62%	34.70%
EBITDA Margin	7.49%	20.83%	-9.91%	-0.64%	30.95%	34.93%	29.81%	40.95%	39.55%	34.80%	7.73%
Operating Margin	-12.07%	6.95%	-27.47%	-9.48%	24.00%	28.55%	23.14%	36.46%	31.91%	26.64%	-1.49%
EBIT Margin	-12.64%	5.44%	-28.82%	-9.76%	23.77%	28.34%	22.90%	36.46%	31.65%	26.09%	-1.86%
Profit (Net Income) Margin	-30.18%	-12.58%	-357.13%	-30.12%	11.79%	18.99%	12.64%	241.36%	23.07%	18.89%	-13.03%
Tax Burden Percent	128.05%	237.39%	815.19%	118.60%	82.11%	93.64%	93.86%	811.28%	104.63%	109.01%	94.93%
Interest Burden Percent	186.40%	-97.50%	152.03%	260.10%	60.40%	71.55%	58.78%	81.59%	69.66%	66.40%	738.79%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.83%	1.81%	6.68%	7.31%	-4.63%	-9.01%	0.00%
Return on Invested Capital (ROIC)	0.00%	18.35%	-89.94%	-31.24%	109.33%	53.29%	43.81%	79.29%	65.29%	47.41%	-1.57%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	9.49%	-168.01%	-36.00%	105.21%	51.25%	42.39%	141.75%	63.19%	45.50%	-3.22%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-16.89%	222.83%	46.03%	-149.86%	-87.21%	-61.94%	-243.45%	-125.76%	-101.24%	7.17%
Return on Equity (ROE)	0.00%	1.46%	132.89%	14.79%	-40.53%	-33.92%	-18.13%	-164.16%	-60.47%	-53.82%	5.60%
Cash Return on Invested Capital (CROIC)	0.00%	-93.30%	-109.09%	-73.78%	-198.57%	-41.46%	-32.61%	-21.32%	17.23%	48.89%	47.47%
Operating Return on Assets (OROA)	0.00%	3.98%	-25.56%	-8.58%	27.85%	23.38%	25.11%	44.34%	38.37%	30.73%	-2.06%
Return on Assets (ROA)	0.00%	-9.21%	-316.81%	-26.46%	13.81%	15.67%	13.85%	293.48%	27.97%	22.25%	-14.42%
Return on Common Equity (ROCE)	0.00%	1.66%	142.27%	15.62%	-40.58%	-34.01%	-18.15%	-164.47%	-60.61%	-53.96%	5.60%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	93.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-3.13	2.15	-5.57	-1.80	7.99	10	6.87	15	9.93	8.20	-0.21
NOPAT Margin	-8.45%	4.87%	-19.23%	-6.64%	23.80%	28.04%	21.59%	33.80%	33.38%	29.04%	-1.04%
Net Nonoperating Expense Percent (NNEP)	0.00%	8.86%	78.06%	4.77%	4.12%	2.04%	1.42%	-62.46%	2.09%	1.91%	1.65%
Return On Investment Capital (ROIC_SIMPLE)	-	3.41%	11.79%	3.29%	-23.51%	-109.91%	-80.85%	15.88%	9.92%	8.84%	-0.24%
Cost of Revenue to Revenue	62.29%	59.73%	69.13%	60.57%	49.36%	47.35%	50.75%	43.49%	49.84%	56.38%	65.30%
SG&A Expenses to Revenue	29.57%	18.73%	35.02%	31.76%	17.95%	15.48%	16.61%	13.77%	10.80%	8.36%	22.74%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	49.78%	33.32%	58.34%	48.91%	26.64%	24.10%	26.11%	20.05%	18.25%	16.98%	36.19%
Earnings before Interest and Taxes (EBIT)	-4.68	2.40	-8.34	-2.65	7.98	10	7.29	16	9.42	7.37	-0.38
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2.77	9.20	-2.87	-0.17	10	13	9.48	18	12	9.83	1.58
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.67	0.39	0.19	0.17	0.18	0.51	0.64	2.01	1.82	1.41	0.84
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	12.31	2.39	2.05	1.52	0.87
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.12%	41.88%	48.68%	65.76%	114.41%
Enterprise Value to Invested Capital (EV/IC)	0.00	3.41	3.00	3.34	2.09	2.18	2.32	4.50	4.08	3.36	2.40
Enterprise Value to Revenue (EV/Rev)	0.00	1.18	0.88	0.87	0.91	1.43	1.53	2.74	2.51	2.06	1.54
Enterprise Value to EBITDA (EV/EBITDA)	0.00	15.37	12.13	13.36	7.36	9.02	6.09	7.88	6.84	5.60	4.56
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	24.90	8.61	9.57	8.25	6.84	5.78
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	292.74	32.77	8.96	10.00	8.50	6.92	5.75
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	131.40	20.37	7.06	5.05
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	28.43	6.86	4.88
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	-2.08	-0.69	-0.65	-0.75	-0.93	-0.93	-6.59	-10.81	-20.22	-13.15
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	-0.01	-0.93	-0.93	-6.59	-10.81	-20.22	-13.15
Financial Leverage	0.00	-1.78	-1.33	-1.28	-1.42	-1.70	-1.46	-1.72	-1.99	-2.22	-2.23
Leverage Ratio	0.00	-4.02	-1.72	-1.49	-0.83	-1.62	-0.85	-1.38	-1.60	-1.70	-1.67
Compound Leverage Factor	0.00	3.92	-2.62	-3.88	-0.50	-1.16	-0.50	-1.13	-1.11	-1.13	-12.35
Debt to Total Capital	0.00%	192.73%	-217.55%	-187.29%	-306.16%	-1,334.59%	-1,411.98%	117.88%	110.19%	105.20%	108.23%
Short-Term Debt to Total Capital	0.00%	192.73%	-217.55%	-187.29%	-302.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	-3.25%	-1,334.59%	-1,411.98%	117.88%	110.19%	105.20%	108.23%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.53%	-0.36%	-0.31%	-0.50%	-1.85%	-2.02%	0.18%	0.17%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-93.26%	317.91%	287.59%	406.66%	1,436.44%	1,514.00%	-18.05%	-10.36%	-5.20%	-8.23%
Debt to EBITDA	0.00	11.05	9.81	11.47	6.26	6.05	3.64	2.22	2.11	1.97	2.35
Net Debt to EBITDA	0.00	10.21	9.42	10.79	5.91	5.84	3.55	2.09	1.87	1.76	2.08
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.07	6.05	3.64	2.22	2.11	1.97	2.35
Debt to NOPAT	0.00	-9.98	-9.31	-12.26	248.93	21.98	5.35	2.82	2.63	2.44	2.96
Net Debt to NOPAT	0.00	-9.22	-8.95	-11.53	235.04	21.19	5.22	2.65	2.33	2.18	2.62
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	2.65	21.98	5.35	2.82	2.63	2.44	2.96
Altman Z-Score	0.00	-2.79	-6.82	-7.32	-6.70	-5.09	-5.11	-1.01	-1.27	-1.83	-2.77
Noncontrolling Interest Sharing Ratio	0.00%	-13.84%	-7.06%	-5.65%	-0.12%	-0.27%	-0.12%	-0.19%	-0.23%	-0.25%	-0.13%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	0.38	0.16	0.13	0.15	0.33	0.33	1.82	2.51	2.10	2.10
Quick Ratio	0.00	0.17	0.11	0.11	0.13	0.29	0.29	1.66	2.17	1.92	1.90
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	42	-21	-28	-15	-50	-23	-36	-38	-20	8.51	5.67
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	-8,688.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	10.30	-4.47	-6.50	-3.52	0.00	-7.81	0.00	-12.99	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-1.45	-0.53	-0.45	-0.75	0.00	-2.93	0.00	3.50	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-1.45	-0.53	-0.45	-0.75	0.00	-2.93	0.00	3.50	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.73	0.89	0.88	1.17	0.83	1.10	1.22	1.21	1.18	1.11
Accounts Receivable Turnover	0.00	4.38	5.76	5.05	5.18	4.01	4.44	4.67	5.49	5.05	4.97
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	270.24	349.04	387.75	682.77	529.02	699.90	974.15	1,111.40	1,321.84	1,514.34
Accounts Payable Turnover	0.00	8.55	7.44	9.15	18.94	11.10	10.69	16.65	21.87	20.39	19.07
Days Sales Outstanding (DSO)	0.00	83.39	63.32	72.23	70.53	91.01	82.21	78.14	66.53	72.26	73.51
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	42.69	49.03	39.89	19.27	32.88	34.15	21.93	16.69	17.90	19.15
Cash Conversion Cycle (CCC)	0.00	40.70	14.28	32.35	51.26	58.13	48.06	56.22	49.84	54.36	54.36
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	50	42	36	58	83	85	89	88	82	79
Invested Capital Turnover	0.00	3.77	4.68	4.71	4.59	1.90	2.03	2.35	1.96	1.63	1.51
Increase / (Decrease) in Invested Capital	-45	23	23	13	58	33	43	53	30	-0.31	-5.88
Enterprise Value (EV)	0.00	170	127	119	122	180	197	401	358	277	190
Market Capitalization	102	57	28	23	24	64	82	295	260	190	103
Book Value per Share	$0.00	($2.48)	($6.29)	($5.31)	($4.65)	($2.75)	($2.66)	($0.36)	($0.22)	($0.10)	($0.16)
Tangible Book Value per Share	$0.00	($5.42)	($9.14)	($7.58)	($6.88)	($4.12)	($4.02)	($1.72)	($1.56)	($1.47)	($1.50)
Total Capital	0.00	63	-47	-55	-34	-9.07	-8.33	96	100	93	90
Total Debt	0.00	122	102	102	104	121	118	113	111	98	98
Total Long-Term Debt	0.00	0.00	0.00	0.00	1.10	121	118	113	111	98	98
Net Debt	0.00	113	98	96	98	117	115	106	98	87	86
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.03	0.00	0.00	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-33	-127	-135	-113	-86	-84	16	14	8.29	5.79
Debt-free Net Working Capital (DFNWC)	0.00	-24	-123	-129	-107	-82	-81	23	27	19	17
Net Working Capital (NWC)	0.00	-146	-225	-232	-210	-82	-81	23	27	19	17
Net Nonoperating Expense (NNE)	8.04	7.70	98	6.38	4.03	3.28	2.85	-93	3.07	2.87	2.45
Net Nonoperating Obligations (NNO)	0.00	108	192	193	196	213	211	106	98	87	86
Total Depreciation and Amortization (D&A)	7.45	6.80	5.47	2.48	2.41	2.39	2.20	2.02	2.35	2.46	1.96
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-22.97%	-87.87%	-98.56%	-84.41%	-68.61%	-64.86%	11.21%	10.02%	6.15%	4.69%
Debt-free Net Working Capital to Revenue	0.00%	-16.50%	-85.10%	-94.13%	-80.10%	-65.14%	-62.60%	15.83%	18.79%	13.82%	13.79%
Net Working Capital to Revenue	0.00%	-101.39%	-156.09%	-168.71%	-156.62%	-65.14%	-62.60%	15.83%	18.79%	13.82%	13.79%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.10)	($3.91)	($0.28)	$0.11	$1.23	$0.08	$2.29	$0.14	$0.12	($0.06)
Adjusted Weighted Average Basic Shares Outstanding	0.00	22.32M	26.44M	29.40M	37.61M	35.41M	47.46M	47.40M	47.39M	47.47M	47.49M
Adjusted Diluted Earnings per Share	$0.00	($0.10)	($3.91)	($0.28)	$0.11	$1.23	$0.08	$2.28	$0.14	$0.12	($0.06)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	22.32M	26.44M	29.40M	37.61M	35.41M	47.47M	47.64M	47.70M	47.67M	47.49M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	29.77M	29.60M	29.59M	47.47M	0.00	47.56M	47.47M	47.47M	47.60M	47.60M
Normalized Net Operating Profit after Tax (NOPAT)	-3.13	2.15	-4.73	-1.80	7.99	10	6.87	15	6.65	5.27	-0.21
Normalized NOPAT Margin	-8.45%	4.87%	-16.33%	-6.64%	23.80%	28.04%	21.59%	33.80%	22.33%	18.64%	-1.04%
Pre Tax Income Margin	-23.57%	-5.30%	-43.81%	-25.39%	14.36%	20.28%	13.46%	29.75%	22.05%	17.33%	-13.72%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-1.16	0.51	-1.92	-0.62	0.00	3.51	0.00	5.57	0.00	0.00	0.00
NOPAT to Interest Expense	-0.77	0.45	-1.28	-0.42	0.00	3.48	0.00	5.17	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-1.16	0.51	-1.92	-0.62	0.00	3.51	0.00	5.57	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-0.77	0.45	-1.28	-0.42	0.00	3.48	0.00	5.17	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	2.77%	-0.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

The Arena Group Financials - Frequently Asked Questions

According to the most recent income statement we have on file, The Arena Group's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

The Arena Group's net income appears to be on a downward trend, with a most recent value of $124.86 million in 2025, falling from -$235.76 thousand in 2014. The previous period was -$100.71 million in 2024. See The Arena Group's forecast for analyst expectations on what's next for the company.

The Arena Group's total operating income in 2025 was $40.79 million, based on the following breakdown:

Total Gross Profit: $68.35 million
Total Operating Expenses: $27.56 million

Over the last 9 years, The Arena Group's total revenue changed from $0.00 in 2014 to $134.83 million in 2025, a change of 13,482,800,000.0%.

The Arena Group's total liabilities were at $117.43 million at the end of 2025, a 52.4% decrease from 2024, and a 136,485.5% increase since 2015.

In the past 10 years, The Arena Group's cash and equivalents has ranged from $545.71 thousand in 2015 to $13.87 million in 2022, and is currently $10.34 million as of their latest financial filing in 2025.

Over the last 10 years, The Arena Group's book value per share changed from 0.25 in 2014 to -0.10 in 2025, a change of -140.6%.

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Financial statements for NYSE:AREN last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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The Arena Group (AREN) Financials

Financials Breakdown Chart

The Arena Group Financials - Frequently Asked Questions

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The Arena Group (AREN) Financials

Annual Income Statements for The Arena Group

Quarterly Income Statements for The Arena Group

Annual Cash Flow Statements for The Arena Group

Quarterly Cash Flow Statements for The Arena Group

Annual Balance Sheets for The Arena Group

Quarterly Balance Sheets for The Arena Group

Annual Metrics And Ratios for The Arena Group

Quarterly Metrics And Ratios for The Arena Group

Financials Breakdown Chart

The Arena Group Financials - Frequently Asked Questions

When does The Arena Group's fiscal year end?

How has The Arena Group's net income changed over the last 9 years?

What is The Arena Group's operating income?

How has The Arena Group's revenue changed over the last 9 years?

How much debt does The Arena Group have?

How much cash does The Arena Group have?

How has The Arena Group's book value per share changed over the last 10 years?

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