Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Arena Group Holdings, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2015
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0.08
5.7
53.3
128
189
221
144
126
135
Cost of revenue
1.59
7.64
47.3
103
111
133
88.4
70.2
66.5
Gross profit
-1.51
-1.94
6.04
25
78.6
88
55.3
55.7
68.3
Research and development
0.11
1.18
Selling and marketing
1.72
12.8
43.6
81.9
72.5
24.3
12.5
7.03
General and administrative
0.23
4.72
10.3
29.5
36
55.6
53.5
43.8
30.4
17.1
Operating expenses
4.84
12.1
46.9
96.2
163
144
72.7
47.8
27.6
Operating income
-0.23
-6.35
-14
-40.8
-71.2
-84.3
-55.9
-17.5
7.87
40.8
Interest expense
2.51
10.5
16.5
10.4
11.4
18
14.7
11.4
Interest income
0
0.02
0.01
0.38
0.01
Other non-operating income
0.03
0.07
-12.1
-17.2
-17.8
-7.34
-12.6
-19.6
-15.3
-11.7
Pre-tax income
-0.2
-6.28
-26.2
-58
-89
-91.6
-68.5
-37
-7.42
29.1
Income tax
0
0
-0.09
0.21
0.21
-1.67
-1.06
0.2
0.25
0.52
Income from continuing operations
-67.4
-37.2
-7.67
28.6
Net income
-0.2
-6.28
-26.1
-38.5
-89.2
-89.9
-70.9
-55.6
-101
125
EBITDA
-5.82
-13.9
-36.3
-54.9
-83.1
-55
-13.2
11.6
44.3
EPS, basic
-0.44
-9.24
-37.19
-22.89
-50.18
-7.87
-4.02
-2.49
-2.85
2.63
EPS, diluted
-0.44
-9.24
-37.19
-22.89
-50.18
-7.87
-4.02
-2.49
-2.85
2.62
Shares, basic (weighted)
0.42
0.68
1.19
1.68
2.09
11.4
17.6
22.3
35.4
47.5
Shares, diluted (weighted)
0.42
1.06
1.19
1.68
2.09
11.4
17.6
22.3
35.4
47.7
Balance sheet
FY2015
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
0
0.62
2.41
8.85
9.03
9.35
13.9
9.28
4.36
10.3
Short-term investments
0.01
0.02
Receivables
0.05
16.2
16.5
21.7
34
31.7
31.1
22.3
Other current assets
0.03
0.17
0.86
4.31
4.67
4.75
4.44
5.79
4.76
3.02
Total current assets
2.35
3.86
9.53
48.2
73.8
77.7
78.7
90.4
40.2
35.6
Property, plant and equipment
0.05
0.07
0.66
1.13
0.64
0.74
0.33
0.15
0.06
Lease right-of-use assets
3.98
18.3
0.53
0.37
0.18
2.34
2.03
Goodwill
7.32
16.1
16.1
19.6
39.3
42.6
42.6
42.6
Intangible assets
0.02
15.4
91.4
71.5
57.4
59
27.5
22.8
22.4
Other non-current assets
0.12
1.09
1.33
0.64
1.14
1
0.15
0.14
Total assets
2.35
6.57
37.2
197
214
174
204
189
116
113
Accounts payable
0.01
0.16
4.94
9.58
8.23
12
12.9
7.8
4.84
1.68
Accrued liabilities
0.15
2.38
16.5
14.7
24
23.1
28.9
11
7.63
Deferred revenue
0.03
0.4
32.2
61.6
54
58.7
16.9
6.35
3.25
Short-term debt
0.03
0.4
32.2
5.74
65.7
102
Total current liabilities
0.09
0.42
21.5
87.5
108
116
216
236
122
17
Long-term debt
44
62.2
64.4
110
97.6
Lease liabilities
2.62
19.9
0.79
0.36
1.96
2.07
Other non-current liabilities
0.24
0.24
0.75
7.56
5.31
0.41
Total liabilities
0.25
3.42
29.7
178
216
212
243
248
247
117
Total debt
0.25
31.2
62.2
70.1
65.7
102
110
97.6
Paid-in capital
64.5
11.2
23.4
35.6
142
200
271
319
349
349
Retained earnings
-62.5
-8.47
-34.5
-73
-162
-252
-323
-379
-479
-355
Other comprehensive income
0.01
Shareholders' equity
2.1
2.98
-10.7
-37.1
-20.3
-51.7
-52.1
-59
-130
-4.83
Total equity
2.1
2.98
-10.7
-37.1
-20.3
-51.7
-52.1
-59
-130
-4.83
Total liabilities and equity
2.35
6.57
37.2
197
214
174
204
189
116
113
Shares outstanding
0.42
1.3
1.63
1.69
10.4
12.6
18.3
23.8
47.6
47.6
Cash flow statement
FY2015
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-0.2
-6.28
-26.1
-38.5
-89.2
-89.9
1.09
-55.6
-101
125
Depreciation and amortization
0.52
0.06
4.55
16.3
1.15
0.86
4.24
3.7
3.47
Stock-based compensation
0.05
1.63
4.34
10.4
14.6
30.5
31.3
19.1
3.03
0.49
Deferred income tax
0
0.09
0.21
-0.21
-1.67
-1.14
0.13
0.2
-0.07
Change in receivables
-0.05
-1.69
0.36
-3.88
-2.04
-11.6
10.5
8.23
Change in payables
-0.01
0.01
1.63
3.32
-1.4
3.75
-6.54
-2.66
-3.73
-4.95
Cash from operations
-0.15
-4.19
-7.42
-57
-32.3
-14.7
-11.3
-24.8
-16.1
39.2
Capital expenditures
-0.06
-0.03
-0.15
-1.21
-0.38
-0.53
-0.05
0
Acquisitions
-18
-16.3
-0.32
-7.95
-35.3
-0.5
Sales and maturities of investments
1.36
Cash from investing
0.16
-2.04
-23.6
-19
-4.93
-13.1
-38.6
-3.21
-5.18
-9.59
Debt issued
71
11.7
5.09
Debt repaid
-17.3
-5.93
Stock issued
3
0
0.1
11.5
Cash from financing
9.25
29.9
82.9
37.3
28.2
54.4
22.9
16.3
-23.7
Net change in cash
0
3.02
-1.09
6.95
0.06
0.32
4.52
-5.09
-4.92
5.98
Free cash flow
-4.25
-7.45
-57.1
-33.5
-15.1
-11.8
-16.1
39.2
Interest paid
0.04
2.85
0.65
1.39
9.53
12.1
17.8
11.6
Income taxes paid
0
0.09
0.09
0.86
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.12 on August 28, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
42.7%
Gross profit / revenue.
Operating margin
18.9%
Operating income / revenue.
EBITDA margin
22.4%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
8.4%
Pre-tax income / revenue.
Net margin
9.3%
Net income / revenue.
Operating cash flow margin
27.2%
Cash from operations / revenue.
Effective tax rate
-11.4%
Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)
8.8%
Net income / average total assets.
Return on invested capital (ROIC)
19.0%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue
0.3%
Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue
3.5%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
7.1%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-15.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
1.0%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
22.7%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-8.1%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
22.3%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y
418.4%
Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y
282.4%
EBITDA vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-3.2%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-17.9%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-12.1%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
34.6%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
39.3%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
86.9%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
2.37x
Current assets / current liabilities.
Quick ratio
2.17x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.82x
(Cash + short-term investments) / current liabilities.
Debt / assets
92.0%
Total debt / total assets.
Liabilities / assets
107.1%
Total liabilities / total assets.
Net debt
$86.4M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA
3.84x
Net debt / EBITDA (twelve months), when EBITDA is positive.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$2.12
Revenue / diluted weighted shares.
Operating cash flow per share
$0.58
Cash from operations / diluted weighted shares.
Book value per share
-$0.16
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
5.69x
Market cap / net income. Only when net income is positive.
P/S
0.53x
Market cap / revenue.
P/OCF
1.95x
Market cap / cash from operations, when positive.
EV/Sales
1.39x
Enterprise value / revenue.
EV/EBIT
7.36x
Enterprise value / operating income, when both are positive.
EV/EBITDA
6.21x
Enterprise value / EBITDA, when both are positive.
Earnings yield
17.6%
Net income / market cap (the inverse of P/E).
What was Arena Group Holdings, Inc.'s revenue in fiscal 2025?
Arena Group Holdings, Inc. reported revenue of $134.8M for fiscal 2025, 7.1% higher than the year before.
Was Arena Group Holdings, Inc. profitable in fiscal 2025?
Yes. Net income was $124.9M, a net margin of 92.6%.
How much free cash flow did Arena Group Holdings, Inc. generate in fiscal 2025?
Cash from operations of $39.2M minus capital expenditures of $0.0 left free cash flow of $39.2M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.