The Arena Group Holdings, Inc. (AREN)

NYSE: AREN · Cable & Other Pay Television Services · New York, NY · filing with the SEC since 1996

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Grade4.6

◀ Past 2.5● Present 3.8▶ Future 6.5

2 est.

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The grade of The Arena Group Holdings, Inc.

Nine metrics read from its own filings, by tense

Headline grade

4.6/10

◀ Past2.525% of the headline

● Present3.835% of the headline

▶ Future6.540% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

2.5/1025% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

0.3/10

Has it survived what it has been through?

22 warning events since 2017; the latest 2025-07-15.

weight 22% of this tense · 3rd percentile among 18 sector filers · read for itself

From the record

The Arena Group Holdings, Inc.'s filings since 2017 show 22 warning events of 5 kinds: a debt default or acceleration notice (8-K item 2.04, the latest 2024-01-05); a notice about its exchange listing (8-K item 3.01, 2 times, the latest 2024-12-26); a warning not to rely on past financial statements (8-K item 4.02, the latest 2019-08-16); an auditor change (8-K item 4.01, 5 times, the latest 2025-07-15); a late-report notice (Form NT 10-K or NT 10-Q, 13 times, the latest 2025-03-31) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

5.2/10

What has it actually done, year after year?

+154.3% a year over 9 filed years; profitable in 1 of 9.

weight 45% of this tense · 52nd percentile among 16 sector filers · read for its customers

From the record

The Arena Group Holdings, Inc.'s 9 filed years say what it did: revenue went from $77 thousand in fiscal 2017 to $135 million in fiscal 2025, up 154.3% a year; it rose in 6 of 8 years; the deepest fall was 43% from fiscal 2022 to fiscal 2024; net income was positive in 1 of 9 of those years (its annual reports).

What it rests on

revenue growth over the filed span154.3%top 3% of its family
the share of years revenue rosetop 19% of its family
the share of filed years with a profitbottom 16% of its family
the deepest fall from a revenue peak43.0%bottom 16% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

0.3/10

How has it treated the people who own it?

SI estimate 0.3/10, confidence 35 of 100 (one part).

weight 33% of this tense · 3rd percentile among 18 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the bottom 3% of 18 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 18 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: The Arena Group Holdings, Inc.'s shareholder treatment is put at 0.3 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 3% of 18 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

3.8/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

3.5/10

Is it financially healthy right now?

Leverage 104%: owes 104¢ per asset dollar.

weight 45% of this tense · 35th percentile among 18 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, The Arena Group Holdings, Inc.'s shareholders' equity was below zero, so the profit on it is not read, and gross profitability: its products earned about 61 cents per dollar of everything the company owns. Leverage: it owed about 104 cents per dollar of assets, and net share issuance: its share count grew 34.6% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 8% of its family
gross profit against assetstop 6% of its family
the share count against the year beforebottom 3% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

3.4/10

How strong is its position in its industry?

bottom 34% of 18 in its family; net margin 92.6%.

weight 33% of this tense · 34th percentile among 18 sector filers · read for its customers

From the record

The Arena Group Holdings, Inc.'s standing among 18 graded names in its industry family: revenue of $135 million in fiscal 2025 ranks in the bottom 3% by size; a net margin of 92.6% ranks in the top 3%; revenue growth of -15.2% a year over the last 3 filed years ranks in the bottom 3% (its annual reports).

What it rests on

revenue against the family$135Mbottom 3% of its family
net margin92.6%top 3% of its family
three-year revenue growth-15.2%bottom 3% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

5.0/10

What are the people in charge doing?

SI estimate 5.0/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 15 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: No officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 15 members with one.
What the record cannot read: No officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read.
How it was reasoned: family median, 15 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: The Arena Group Holdings, Inc.'s leadership is put at 5.0 of 10 with a confidence of 20 of 100, because no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 15 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

6.5/1040% of the headline grade · 3 of 3 filed

Room to expand

as filed

4.6/10

How much room does it have to grow?

bottom 46% of 16 in its family for room to expand.

weight 22% of this tense · 46th percentile among 16 sector filers · read for itself

From the record

The Arena Group Holdings, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $10 million against debt of $98 million leaves -77.5% of its assets as net cash, bottom 8% of its family; cash from operations less capital spending is 29.1% of revenue (top 9%); a gross margin of 50.7% (bottom 39%) (its annual report).

What it rests on

cash less debt against assets-77.5%bottom 8% of its family
cash from operations less capital spending against revenue29.1%top 9% of its family
gross margin50.7%bottom 39% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

5.6/10

What could actually drive growth from here?

top 44% of 16 in its family for growth drivers.

weight 45% of this tense · 56th percentile among 16 sector filers · read for its customers

From the record

The Arena Group Holdings, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -15.2% a year over the last three filed years against 154.3% over all 9, slowing (bottom 3% of its family); the newest year grew 7.1% (top 28%); research spending grew 928.8% a year (top 8%) (its annual reports). The Arena Group Holdings, Inc. reported 6 product lines in fiscal 2025: Digital Advertising at $87 million (65%), Performance Marketing at $20 million (15%), Publisher Revenue at $19 million (14%), and 3 more; 2 of 6 grew against the year before (its annual report).

What it rests on

three-year growth against the whole span-169.5 points a yearbottom 3% of its family
the newest year's revenue growth7.1%top 28% of its family
three-year growth of research spending928.8%top 8% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

9.1/10

Did its newest year beat what its own record pointed to?

top 9% of 16 in its family for expectations against reality.

weight 33% of this tense · 91st percentile among 16 sector filers · read for its shareholders

From the record

The Arena Group Holdings, Inc.'s newest year against its own record: revenue of $135 million in fiscal 2025 came in 41.8% above the $95 million its prior three years' pace pointed to (top 3% of its family); net income of $125 million against a prior three-year average of $76 million (top 22%); a net margin of 92.6% against -50.3% before (top 3%) (its annual reports).

What it rests on

revenue against the prior three years' pace41.8%top 3% of its family
net income against the prior three years' average+265%top 22% of its family
net margin against its prior averageup more than 100 pointstop 3% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton AREN · research, not advice