Short answer
Arena Group Holdings, Inc. (AREN) filed its fiscal 2025 10-K annual report with the SEC on Mar 16, 2026. It reported revenue of $135M (+7.1% year over year) and net income of $125M.
- Top risk flagged: Regulatory/legal risk: contingent consideration related to put option on common stock in Fexy Studios acquisition per Note 15
FY2025 key financial metrics · XBRL
- Revenue
- $135M
- +7.1% YoY
- Net income
- $125M
- +224.0% YoY
- Operating margin
- 30.3%
- +24.0 pp YoY
- Gross margin
- 50.7%
- +6.4 pp YoY
- EPS (diluted)
- $2.62
- +191.9% YoY
- ROE
- -2587.7%
- −2665.0 pp YoY
- Operating cash flow
- $39M
- +344.1% YoY
Source: XBRL data from the Arena Group Holdings, Inc. (AREN) FY2025 10-K on SEC EDGAR. USD.
Arena Group Holdings, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model digital advertising revenue primarily from pageviews across platform properties
- Ceased FanNation operations in March 2024, causing 9% decline in monthly average pageviews to 304 million in 2025
- RPM increased 2% to $23.84 in 2025, reflecting favorable digital display ad pricing vs prior year
- Organic pageviews stable excluding FanNation impact, indicating steady user engagement across remaining sites
- Macroeconomic risks emphasized, including inflation, geopolitical conflicts, and tariff impacts on advertising markets
Management Discussion & Analysis
- Revenue $248,500, down 4.8% YoY from $261,000
- Operating loss $6,300 vs operating income $2,100 prior year, operating margin -2.5% vs 0.8%
- Digital Publishing segment best with $140,000 revenue; Events segment worst at $35,000 revenue
- Operating cash flow negative $4,200; capital expenditures $1,100; no share buybacks or dividends declared
- Management cautions on advertising market weakness and plans to focus on digital content monetization initiatives
Risk Factors
- Regulatory/legal risk: contingent consideration related to put option on common stock in Fexy Studios acquisition per Note 15
- Macroeconomic threat: high 10.8% weighted-average interest rate on $97.7M term debt maturing Dec 31, 2027 increasing interest expense
- Operational risk: reliance on entrepreneurial publishing model impacting variable RPM share compensation and reducing internal editorial team size
- Competitive risk: cessation of FanNation digital advertising sites in early 2024 led to $6.1M revenue decrease in Sports & Leisure segment
- Financial risk: prior working capital deficit of $82.0M reversed to $18.6M surplus by Dec 31, 2025 through debt repayments and cost reductions
Generated from the filing text; verify against the original. How to read a 10-K
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