Arena Group Holdings, Inc.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $134.8M | $125.9M | $143.6M | $220.9M | $189.1M |
| Gross profit | $68.3M | $55.7M | $55.3M | $88.0M | $78.6M |
| Operating income | $40.8M | $7.9M | -$17.5M | -$55.9M | -$84.3M |
| Operating expenses | $27.6M | $47.8M | $72.7M | $143.9M | $162.9M |
| Cost of revenue | $66.5M | $70.2M | $88.4M | $132.9M | $110.5M |
| Cash from operations | $39.2M | -$16.1M | -$24.8M | -$11.3M | -$14.7M |
| Capital expenditure | $0 | $54,000 | — | $530,000 | $377,000 |
| Free cash flow | $39.2M | -$16.1M | — | -$11.8M | -$15.1M |
| Share repurchases | — | $379,000 | — | — | — |
| Impairments | $0 | $1.2M | $119,000 | $257,000 | $425,000 |
| Total assets | $112.6M | $116.4M | $188.9M | $203.7M | $174.0M |
| Total liabilities | $117.4M | $246.5M | $247.7M | $242.7M | $211.8M |
| Total debt | $97.7M | $110.7M | $102.7M | $66.7M | $70.1M |
Shares outstanding 47.6M
Annual filing data through FY ended December 31, 2025; float as of July 11, 2026.