Arena Group Holdings Inc
AMEX:AREN
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Arena Group Holdings Inc
AMEX:AREN
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Hangzhou Freely Communication Co Ltd
SSE:603602
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Arena Group Holdings Inc
The Arena Group Holdings, Inc. is a data-driven media company that focuses on building deep content verticals powered by a digital media platform (the Platform), empowering premium publishers who impact, inform, educate, and entertain. The company is headquartered in New York City, New York and currently employs 391 full-time employees. The firm creates robust digital destinations that offer consumers with journalism and news about the things they love, such as their favorite sports teams, advice on investing, the inside scoop on personal finance, and the latest on lifestyle essentials. Through its online publishing platform, the Company owns and operates its media businesses. The firm operates the media businesses for Sports Illustrated (Sports Illustrated), own and operate TheStreet, Inc. (TheStreet) and College Spun Media Incorporated (The Spun), Parade Media (Parade), Men’s Journal and power more than 225 independent publisher partners, including the many sports team sites that comprise FanNation. The firm's platform services include content management, machine learning-driven content recommendations, traffic redistribution, hosting and bandwidth, video publishing and player solutions via an integrated set of third-party providers.
The Arena Group Holdings, Inc. is a data-driven media company that focuses on building deep content verticals powered by a digital media platform (the Platform), empowering premium publishers who impact, inform, educate, and entertain. The company is headquartered in New York City, New York and currently employs 391 full-time employees. The firm creates robust digital destinations that offer consumers with journalism and news about the things they love, such as their favorite sports teams, advice on investing, the inside scoop on personal finance, and the latest on lifestyle essentials. Through its online publishing platform, the Company owns and operates its media businesses. The firm operates the media businesses for Sports Illustrated (Sports Illustrated), own and operate TheStreet, Inc. (TheStreet) and College Spun Media Incorporated (The Spun), Parade Media (Parade), Men’s Journal and power more than 225 independent publisher partners, including the many sports team sites that comprise FanNation. The firm's platform services include content management, machine learning-driven content recommendations, traffic redistribution, hosting and bandwidth, video publishing and player solutions via an integrated set of third-party providers.
Profitability: The Arena Group reported full-year 2025 income from continuing operations of $28.6 million and GAAP net income of $124.9 million (including $96.3 million from discontinued operations), a swing from losses in 2024.
Revenue: Q4 2025 revenue was $28.2 million (down from $36.2 million in Q4 2024); full-year 2025 revenue was $134.8 million, up from $125.9 million in 2024.
Margins: Adjusted EBITDA for 2025 improved to $51.5 million (38.2% of revenue) from $27.0 million (21.4%); Q4 adjusted EBITDA was $10.1 million (35.8% of revenue), roughly flat year-over-year.
Cash & Debt: Cash rose to $10.3 million (up nearly $6 million); the company repaid $23.5 million of principal in 2025 and reduced leverage below 2x.
Revenue mix shift: Advertising fell to 64% of total revenue in 2025 (from 74% in 2024); non-advertising revenue increased by more than $21 million year-over-year.
Strategy & M&A: Management is accelerating diversification into commerce and first-party data (ShopHQ, Encore) and expects to continue 1–2 tuck-in media acquisitions per quarter.
Outlook: Management expects to sustain 2025-like margins while driving advertising below 50% of revenue in 2026 and expects positive cash flow in 2026; no numeric quarterly/annual guidance was provided.
