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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% | -224.0% |
| 2024 | $126M | $19M | $-101M | $-21M | 77.3% | -12.3% | 81.2% |
| 2023 | $144M | $9M | $-56M | $-29M | 94.2% | -35.0% | -21.6% |
| 2022 | $221M | $-30M | $-71M | $-17M | 135.9% | - | - |
| 2021 |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 220.94 | 143.63 | 125.91 | 134.83 |
| Operating 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 |
| Selling General And Administration | - | 125.99 | 68.05 | 42.95 | 24.09 |
| Total Expenses | - | 276.56 | 160.65 | 116.84 | 94.04 |
| Operating Income | - | -55.63 | -17.02 | 9.07 | 40.79 |
| Total Operating Income As Reported | - | -55.88 | -17.46 | 7.87 | 40.79 |
| EBITDA | - | -29.91 | 8.65 | 19.34 | 49.37 |
| Normalized EBITDA | - | -28.52 | 10.69 | 21.16 | 49.68 |
| EBIT | - | -57.02 | -19.05 | 7.25 | 40.49 |
| Interest Income | 0.01 | - | - | - | - |
| Interest Expense | - | 11.43 | 17.96 | 14.67 | 11.36 |
| Net Interest Income | - | -11.43 | -17.96 | -14.67 | -11.36 |
| Other Non Operating Income Expenses | -0.47 | - | - | - | - |
| Other Income Expense | - | -1.40 | -2.04 | -1.82 | -0.30 |
| Interest Income Non Operating | 0.01 | - | - | - | - |
| Interest Expense Non Operating | - | 11.43 | 17.96 | 14.67 | 11.36 |
| Net Non Operating Interest Income Expense | - | -11.43 | -17.96 | -14.67 | -11.36 |
| Pretax Income | - | -68.45 | -37.02 | -7.42 | 29.13 |
| Tax Provision | - | -1.06 | 0.20 | 0.25 | 0.52 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.02 | -0.43 | -0.38 | -0.01 |
| Net Income Continuous Operations | - | -67.39 | -37.22 | -7.67 | 28.61 |
| Net Income From Continuing And Discontinued Operation | - | -70.86 | -55.58 | -100.71 | 124.86 |
| Net Income From Continuing Operation Net Minority Interest | - | -67.39 | -37.22 | -7.67 | 28.61 |
| Net Income | - | -70.86 | -55.58 | -100.71 | 124.86 |
| Net Income Common Stockholders | - | -70.86 | -55.58 | -100.71 | 124.86 |
| Net Income Including Noncontrolling Interests | - | -70.86 | -55.58 | -100.71 | 124.86 |
| Normalized Income | - | -66.01 | -35.61 | -6.23 | 28.91 |
| Diluted NI Availto Com Stockholders | - | -70.86 | -55.58 | -100.71 | 124.86 |
| Basic Average Shares | - | 17.63 | 22.32 | 35.41 | 47.47 |
| Diluted Average Shares | - | 17.63 | 22.32 | 35.41 | 47.67 |
| Reconciled Depreciation | - | 27.11 | 27.71 | 12.09 | 8.89 |
| Reconciled Cost Of Revenue | - | 123.46 | 64.89 | 61.80 | 61.06 |
| 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 Discontinuous Operations | - | -3.47 | -18.37 | -93.04 | 96.25 |
| Special Income Charges | - | -1.40 | -2.04 | -1.82 | -0.30 |
| 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 | 0.03 | - | - | - | - |
| 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 |
| 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 | 53.28 | 51.38 | 45.94 | - | - |
| Gain On Sale Of Ppe | -1.19 | 0 | -0.32 | 0 | - |
| Selling And Marketing Expense | - | 50.72 | 24.26 | 12.55 | 7.03 |
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 | $68M | 0.54 | -14.01 | -2587.7% | 3.19 |
| ZipRecruiter, Inc. | ZIP | $271M | -8.20 | -3.51 | 42.7% | 55.81 |
| Angi Inc. | ANGI | $261M | 5.96 | 0.28 | 4.7% | 3.60 |
| CuriosityStream Inc. | CURI | $191M | -29.80 | 4.62 | -15.5% | 24.02 |
| Teads Holding Co. | TEAD | $112M |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| -0.22 |
| 1.17 |
| -541.8% |
| -1.92 |
| Travelzoo | TZOO | $101M | 21.42 | -13.39 | -62.5% | 13.40 |
| Vivid Seats Inc. | SEAT | $99M | -0.23 | -1.16 | 504.3% | -0.69 |
| PLAYSTUDIOS, Inc. | MYPS | $67M | -2.34 | 0.29 | -12.6% | -1.69 |
| Gaia, Inc. | GAIA | $61M | -13.63 | 0.70 | -5.1% | 4.68 |
| Peer Median | - | -1.28 | 0.29 | -8.8% | 4.14 | |