Arena Group Holdings, Inc.

Listed Company

ARENCIK 0000894871NYSEAcceleratedSmaller ReportingCable & Other Pay Television ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$134.83M

Net Income

$124.86M

Total Assets

—

Equity

—

Shares Out

47.60M

Op. Cash Flow

$39.25M

Business

Arena Group Holdings, Inc. is a digital media company that leverages proprietary technology to build deep content verticals anchored by leading brands and a unified publishing Platform. It offers editorial content, a cloud-based publishing Platform, monetization solutions (advertising, video, subscriptions/memberships), and platform services for publishers and individual contributors. The company organizes its business into four primary verticals—sports & leisure, finance, lifestyle and platform—operating owned brands (e.g., Athlon Sports, TheStreet, Parade) and more than 150 Publisher Partners. It distributes content online via websites, mobile, social channels, newsletters and syndication partners (e.g., Apple News, Google, Facebook).

Summary from filing dated 2025-04-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	135	126	144	221	189
Cost of revenue	66	70	88	133	111
Gross profit	68	56	55	88	79
Selling and marketing	7	13	24	72	82
General and administrative	17	30	44	53	56
Depreciation and amortization	3	4	4	18	16
Impairment of intangible assets	0	1	—	—	—
Total operating expenses	28	48	73	144	163
Income from operations	41	8	−17	−56	−84
Change in valuation of contingent consideration	0	−313,000	−1	—	34,000
Interest expense, net	−11	−15	—	—	—
Liquidated damages	−305,000	−306,000	—	—	—
Total other expense	−12	−15	−20	−13	−7
Income (loss) before income taxes	29	−7	−37	−68	−92
Income tax provision	−520,000	−249,000	−197,000	1	2
Income (loss) from continuing operations	29	−8	−37	−67	—
Income (loss) from discontinued operations, net of tax	96	−93	−18	−3	—
Net income (loss)	125	−101	−56	−71	−90
Continuing operations (in dollars per share)	0.6	−0.22	−1.67	−3.82	−7.87
Discontinued operations (in dollars per share)	2.03	−2.63	−0.82	−0.2	—
Basic net income (loss) per common share (in dollars per share)	2.63	−2.85	−2.49	−4.02	−7.87
Continuing operations (in dollars per share)	0.6	−0.22	−1.67	—	—
Discontinued operations (in dollars per share)	2.02	−2.63	−0.82	−0.2	—
Diluted net income (loss) per common share (in dollars per share)	2.62	−2.85	−2.49	−4.02	—
Basic (in shares)	47	35	22	18	11
Diluted (in shares)	48	35	22	18	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	10	4	9	14	9
Accounts receivable (net of allowances of $1,255 in 2025 and $1,458 in 2024)	22	31	32	34	22
Prepayments and other current assets	3	5	6	4	5
Total current assets	36	40	90	79	78
Property and equipment, net	56,000	148,000	328,000	735,000	636,000
Operating lease right-of-use assets	2	2	176,000	372,000	528,000
Platform development, net	10	8	9	10	9
Acquired and other intangible assets, net	22	23	27	59	—
Other long term assets	137,000	151,000	1	1	639,000
Goodwill	43	43	43	39	20
Total assets	113	116	189	204	174
Accounts payable	2	5	8	13	12
Accrued expenses and other	8	11	29	23	24
Unearned revenue	3	6	17	834,000	54
Subscription and returns reserve liability	508,000	430,000	46,000	845,000	3
Operating lease liability, current portion	402,000	254,000	358,000	427,000	374,000
Liquidated damages payable	4	3	—	—	—
Current liabilities from discontinued operations	0	96	48	—	—
Total current liabilities	17	122	236	216	116
Unearned revenue, net of current portion	43,000	403,000	542,000	3	15
Operating lease liability, net of current portion	2	2	—	358,000	785,000
Deferred tax liabilities	733,000	802,000	599,000	465,000	362,000
Simplify loan	0	11	—	—	—
Term debt	98	110	—	—	64
Total liabilities	117	247	248	243	212
Commitments and contingencies (Note 24)	—	—	—	—	—
Total mezzanine equity	0	168,000	168,000	13	—
Common stock	482,000	475,000	237,000	182,000	126,000
Additional paid-in capital	349	349	319	271	200
Accumulated deficit	−355	−479	−379	−323	−252
Total stockholders deficiency	−5	−130	−59	−52	−52
Total liabilities, mezzanine equity and stockholders deficiency	113	116	189	204	174

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation of property and equipment	92,000	234,000	352,000	539,000	443,000
Amortization of platform development and intangible assets	9	12	27	27	—
Amortization of debt costs	142,000	658,000	2	2	2
Loss on impairment of assets	0	41	119,000	466,000	—
Stock-based compensation	485,000	3	19	31	30
Deferred income taxes	−69,000	203,000	134,000	−1	−2
Provision for credit losses	614,000	3	—	—	—
Non-cash lease expense	309,000	0	—	—	—
Other, net	−4,000	−19,000	—	184,000	—
Accounts receivable	8	10	−12	−2	−4
Subscription acquisition costs	0	6	—	—	—
Prepayments and other current assets	2	2	−2	2	49,000
Other long-term assets	14,000	852,000	−77,000	−285,000	692,000
Accounts payable	−5	−4	−3	−7	4
Accrued expenses and other	−53	30	3	−3	7
Unearned revenue	−48	−19	−8	4	−16
Subscription and returns reserve liability	−345,000	404,000	—	—	—
Operating lease liability	255,000	−304,000	−231,000	−218,000	−2
Contingent consideration	0	−2	—	—	—
Other long-term liabilities	0	−406,000	−6	−3	−1
Net cash provided by (used in) operating activities	39	−16	−25	−11	−15
Purchases of property and equipment	0	−54,000	—	−530,000	−377,000
Purchases of intangible assets	−3	0	—	—	—
Capitalized platform development	−7	−5	−4	−5	−5
Net cash used in investing activities	−10	−5	−3	−39	−13
Payment of Fexy put option	0	−561,000	—	—	—
Repayments under line of credit	0	−20	6	2	5
Proceeds from common stock private placement	0	12	—	—	20
Repayment of Term Debt	−13	0	—	—	—
Proceeds from Simplify loan	0	26	—	—	—
Repayment of Simplify loan	−11	0	—	—	—
Payments of deferred cash payment	0	−200,000	−75,000	−453,000	—
Payments of taxes from common stock withheld	−29,000	−534,000	−1	−4	−70,000
Net cash (used in) provided by financing activities	−24	16	23	54	28
Net change in cash and cash equivalents	6	−5	−5	5	316,000
Cash paid for interest	12	18	12	10	1
Cash paid for income taxes	862,000	85,000	85,000	—	—
Reclassification of stock-based compensation to platform development	25,000	259,000	—	2	2
Purchase of intangible asset with accrued expenses and other	450,000	0	189,000	441,000	509,000
Repurchase of common stock for Fexy put option	0	379,000	—	—	—
Issuance of common stock upon exercise of stock options	−4,000	0	—	—	—

Filings

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