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The Arena Group Holdings, Inc., together with its subsidiaries, operates digital media platform in the United States and internationally. The company offers the Platform, a proprietary online publishing platform that provides tools and services to produce and manage editorially content; audiences bespoke content with optimized design and page construction services; and tools and services for subscription or membership based business and other monetization services, as well as developed proprietary advertising technology, techniques, and relationships to monetize editorially focused online content through various display and video advertisements. It owns and operates brands, such as Athlon Sports, The Spun, Lindy's Sports, Men's Journal, Men's Fitness, Adventure Network, TheStreet, Autoblog, Parade, PetHelpful, Parade Pets, TravelHost, DenGarden, Parade Home & Garden. The company was formerly known as TheMaven, Inc. and changed its name to The Arena Group Holdings, Inc. in February 2022. The company is based in New York, New York. The Arena Group Holdings, Inc. operates as a subsidiary of Simplify Inventions, LLC.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $135M | $49M | $125M | $30M | -2587.7% | 7.1% | - |
| 2024 | $126M | $19M | $-101M | $-21M | 77.3% | -12.3% | - |
| 2023 | $144M | $9M | $-56M | $-29M | 94.2% | -35.0% | - |
| 2022 | $221M | $-30M | $-71M | $-17M | 135.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 220.94 | 143.63 | 125.91 | 134.83 |
| Cost Of Revenue | 132.92 | 88.36 | 70.19 | 66.48 |
| Gross Profit | 88.01 | 55.27 | 55.72 | 68.35 |
| Operating Expense | 143.64 | 72.29 | 46.65 | 27.56 |
| Operating Income | -55.63 | -17.02 | 9.07 | 40.79 |
| EBITDA | -29.91 | 8.65 | 19.34 | 49.37 |
| EBIT | -57.02 | -19.05 | 7.25 | 40.49 |
| Pretax Income | -68.45 | -37.02 | -7.42 | 29.13 |
| Tax Provision | -1.06 | 0.20 | 0.25 | 0.52 |
| Net Income | -70.86 | -55.58 | -100.71 | 124.86 |
| Net Income Common Stockholders | -70.86 | -55.58 | -100.71 | 124.86 |
| Total Expenses | 276.56 | 160.65 | 116.84 | 94.04 |
| Interest Expense | 11.43 | 17.96 | 14.67 | 11.36 |
| Interest Income | 0 | 0 | 0 | 0 |
| Selling General And Administration | 125.99 | 68.05 | 42.95 | 24.09 |
| Normalized EBITDA | -28.52 | 10.69 | 21.16 | 49.68 |
| Normalized Income | -66.01 | -35.61 | -6.23 | 28.91 |
| Basic EPS | -4.02 | -2.49 | -2.85 | 0 |
| Diluted EPS | -4.02 | -2.49 | -2.85 | 0 |
| Tax Effect Of Unusual Items | -0.02 | -0.43 | -0.38 | -0.01 |
| Tax Rate For Calcs | 0.02 | 0.21 | 0.21 | 0.02 |
| Total Unusual Items | -1.40 | -2.04 | -1.82 | -0.30 |
| Total Unusual Items Excluding Goodwill | -1.40 | -2.04 | -1.82 | -0.30 |
| Net Income From Continuing Operation Net Minority Interest | -67.39 | -37.22 | -7.67 | 28.61 |
| Reconciled Depreciation | 27.11 | 27.71 | 12.09 | 8.89 |
| Reconciled Cost Of Revenue | 123.46 | 64.89 | 61.80 | 61.06 |
| Net Interest Income | -11.43 | -17.96 | -14.67 | -11.36 |
| Net Income From Continuing And Discontinued Operation | -70.86 | -55.58 | -100.71 | 124.86 |
| Total Operating Income As Reported | -55.88 | -17.46 | 7.87 | 40.79 |
| Diluted Average Shares | 17.63 | 22.32 | 35.41 | 0 |
| Basic Average Shares | 17.63 | 22.32 | 35.41 | 0 |
| Diluted NI Availto Com Stockholders | -70.86 | -55.58 | -100.71 | 124.86 |
| Net Income Including Noncontrolling Interests | -70.86 | -55.58 | -100.71 | 124.86 |
| Net Income Discontinuous Operations | -3.47 | -18.37 | -93.04 | 96.25 |
| Net Income Continuous Operations | -67.39 | -37.22 | -7.67 | 28.61 |
| Other Income Expense | -1.40 | -2.04 | -1.82 | -0.30 |
| Other Non Operating Income Expenses | 0 | 0 | 0 | 0 |
| Special Income Charges | -1.40 | -2.04 | -1.82 | -0.30 |
| Gain On Sale Of Ppe | 0 | -0.33 | 0 | 0 |
| Other Special Charges | 1.14 | 0.58 | 0.31 | 0.30 |
| Impairment Of Capital Assets | 0.26 | 0.12 | 1.20 | 0 |
| Restructuring And Mergern Acquisition | 0 | 1.01 | 0.31 | 0 |
| Gain On Sale Of Security | 0 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | -11.43 | -17.96 | -14.67 | -11.36 |
| Interest Expense Non Operating | 11.43 | 17.96 | 14.67 | 11.36 |
| Interest Income Non Operating | 0 | 0 | 0 | 0 |
| Depreciation Amortization Depletion Income Statement | 17.65 | 4.24 | 3.70 | 3.47 |
| Depreciation And Amortization In Income Statement | 17.65 | 4.24 | 3.70 | 3.47 |
| Selling And Marketing Expense | 50.72 | 24.26 | 12.55 | 7.03 |
| General And Administrative Expense | 75.27 | 43.78 | 30.40 | 17.06 |
| Other Gand A | 23.89 | 43.78 | 30.40 | 17.06 |
| Salaries And Wages | 51.38 | 45.94 | 0 | 0 |
| Operating Revenue | 220.94 | 143.63 | 125.91 | 134.83 |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| The Arena Group Holdings, Inc.this co. | AREN | $109M | 3.83↓ discount | -22.77 | -2587.7% | 4.50 |
| Angi Inc. | ANGI | $289M | 7.60 | 0.31 | 4.7% | 4.13 |
| ZipRecruiter, Inc. | ZIP | $233M | - | -3.13 | 42.7% | -26.72 |
| Crexendo, Inc. | CXDO | $209M | 41.00 | 3.19 | 7.9% | 23.83 |
| CuriosityStream Inc. | CURI | $183M |
| - |
| 4.38 |
| -15.5% |
| 21.55 |
| Travelzoo | TZOO | $106M | 25.63 | -14.16 | -194.0% | 15.89 |
| Gaia, Inc. | GAIA | $75M | - | 0.85 | -4.4% | 30.55 |
| Vivid Seats Inc. | SEAT | $69M | - | -0.79 | 504.3% | -52.17 |
| PLAYSTUDIOS, Inc. | MYPS | $53M | - | 0.23 | -12.6% | -2.44 |
| Peer Median | - | 25.63 | 0.27 | 0.2% | 10.01 | |