NEW YORK–(BUSINESS WIRE<\/a>)–The Arena Group Holdings, Inc. <\/a>(NYSE American: AREN) (\u201cArena\u201d), a technology platform and media company home to hundreds of media brands, including TheStreet, Parade Media<\/i> (\u201cParade\u201d), Men\u2019s Journal, Surfer, Powder <\/i>and Athlon Sports<\/i>, today announced financial results for the three months ending December 31, 2024 (\u201cQ4 2024\u201d) and full year ended December 31, 2024 (\u201cFY 2024\u201d).\n<\/p>\n Financial Highlights for Q4 2024:<\/b><\/p>\n Financial Highlights for fiscal year 2024:<\/b><\/p>\n \n\u201cIn 2024, we built a strong foundation with Athlon Sports. This started with premium content, expanding our print products at newsstands and growing our social footprint,\u201d said Paul Edmondson, CEO of Arena. \u201cWe then coupled this with what we call \u2018competitive publishing\u2019 to expand our reach.\u201d\n<\/p>\n \n\u201cCompetitive publishing is a new model designed for 24\/7 breaking news coverage where multiple talented teams compete. It\u2019s proven to grow audiences, pay talent better and more fairly, and be profitable for The Arena Group. A true win win.\u201d Edmondson continued, \u201cWe launched this model on Men\u2019s Journal<\/i> in Q1 2025, and at Parade<\/i> and The Street<\/i> at the start of Q2 2025. The results are very promising. We expect to be profitable in every quarter of 2025.\u201d\n<\/p>\n Operational highlights<\/b><\/p>\n Video Message:<\/b><\/p>\n \nPaul Edmondson, The Arena Group\u2019s Chief Executive Officer, has posted a video reviewing Arena\u2019s quarterly results and business strategy. The video addresses selected questions previously submitted by investors and other interested parties. It has been shared across Arena\u2019s social media channels and is available HERE<\/a>.\n<\/p>\n About The Arena Group<\/b><\/p>\n \n\u00a0\n<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n36,228\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n44,144\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n125,907\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n143,630\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n17,154\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n26,366\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n70,189\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 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\n\u00a0\n<\/p>\n<\/td>\n \n151\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,003\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n42,575\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n42,575\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n18,217\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n116,352\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n188,878\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n4,844\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n7,803\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n10,990\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n28,903\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n19,609\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n6,349\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n16,938\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n430\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n46\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n254\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n358\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,571\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,230\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,924\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n7,887\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n102,309\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n96,159\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n47,673\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n122,256\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n236,021\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n403\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n542\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,964\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n406\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n802\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n599\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n10,651\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n110,436\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10,137\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n246,512\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n247,705\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n168\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n168\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n168\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n168\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n475\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n237\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n348,560\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n319,421\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(479,363\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(378,653\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(130,328\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(58,995\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n116,352\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n188,878\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Use of Non-GAAP Financial Measures<\/b><\/p>\n \nWe report our financial results in accordance with generally accepted accounting principles in the United States of America (\u201cGAAP\u201d); however, management believes that certain non-GAAP financial measures provide users of our financial information with useful supplemental information that enables a better comparison of our performance across periods. We believe Adjusted EBITDA provides visibility to the underlying continuing operating performance by excluding the impact of certain items that are noncash in nature or not related to our core business operations. We calculate Adjusted EBITDA as net income (loss) as adjusted for loss from discontinued operations, with additional adjustments for (i) interest expense (net), (ii) income taxes, (iii) depreciation and amortization, (iv) stock-based compensation, (v) change in valuation of contingent consideration, (vi) liquidated damages, (vii) loss on impairment of assets, (viii) loss on sale of assets; (ix) employee retention credit, (x) employee restructuring payments, and (xi) professional and vendor fees. Our non-GAAP measure may not be comparable to similarly titled measures used by other companies, have limitations as an analytical tool, and should not be considered in isolation, or as a substitute for analysis of our operating results as reported under GAAP. Additionally, we do not consider our non-GAAP measure as superior to, or a substitute for, the equivalent measures calculated and presented in accordance with GAAP. Some of the limitations are that our presentation of Adjusted EBITDA:\n<\/p>\n \nThe following table presents a reconciliation of Adjusted EBITDA to net income (loss), which is the most directly comparable GAAP measure, for the periods indicated:\n<\/p>\n \n\u00a0\n<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n7,213\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(2,392\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(7,667\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(37,215\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,921\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4,740\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n14,668\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n17,965\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n133\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n52\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n249\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n197\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,357\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,926\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n9,692\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n13,025\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n281\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,175\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,425\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n16,292\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n541\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n313\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,010\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n77\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n128\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n306\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n583\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,198\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n119\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n325\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n325\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(3,890\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n317\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5,776\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,570\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,194\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,194\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n12,982\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n9,006\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n26,960\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n13,175\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Forward-Looking Statements<\/b><\/p>\n \nThis Press Release of The Arena Group Holdings, Inc. (the \u201cCompany,\u201d \u201cwe,\u201d \u201cour,\u201d and \u201cus\u201d) contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d), and Section 21E of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d). Forward-looking statements relate to future events or future performance and include, without limitation, statements concerning our business strategy, future revenues and profitability, cost reductions, market growth, capital requirements, product introductions, expansion plans and the adequacy of our funding and our ability to alleviate the conditions that raise substantial doubt about our ability to continue as a going concern (as disclosed in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on April 15, 2025 (the \u201c2024 10-K\u201d)). Other statements contained in this Press Release that are not historical facts are also forward-looking statements. We have tried, wherever possible, to identify forward-looking statements by terminology such as \u201cmay,\u201d \u201cwill,\u201d \u201ccould,\u201d \u201cshould,\u201d \u201cexpects,\u201d \u201canticipates,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cbelieves,\u201d \u201cseeks,\u201d \u201cestimates,\u201d and other stylistic variants denoting forward-looking statements.\n<\/p>\n \nWe caution investors that any forward-looking statements presented in this Press Release, or that we may make orally or in writing from time to time, are based on information currently available, as well as our beliefs and assumptions. The actual outcome related to forward-looking statements will be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control or ability to predict. Although we believe that our assumptions are reasonable, they are not guarantees of future performance, and some will inevitably prove to be incorrect. As a result, our actual future results can be expected to differ from our expectations, and those differences may be material. Accordingly, investors should use caution in relying on forward-looking statements, which are based only on known results and trends at the time they are made, to anticipate future results or trends. We detail other risks in our public filings with the Securities and Exchange Commission (the \u201cSEC\u201d), including in Part I, Item 1A, Risk Factors, in the 2024 10-K. The discussion in this Press Release should be read in conjunction with the consolidated financial statements and notes thereto included in Part II, Item 8 of the 2024 10-K.\n<\/p>\n \nThis Press Release and all subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. We do not undertake any obligation to release publicly any revisions to our forward-looking statements to reflect events or circumstances after the date of this Press Release except as may be required by law.\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250415668228\/en\/<\/a><\/span><\/p>\n The Arena Group Contact: The Arena Group Investor Contact: KEYWORDS:<\/b> United States North America New York<\/p>\n INDUSTRY KEYWORDS:<\/b> Advertising Communications Sports Technology Software General Sports Media<\/p>\n\n
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\n THE ARENA GROUP HOLDINGS, INC. AND SUBSIDIARIES<\/b><\/td>\n<\/tr>\n \n CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Three Months Ended December 31,<\/b><\/td>\n Years Ended December 31,<\/b><\/td>\n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n ($ in thousands, except share data)<\/i><\/td>\n \n <\/tr>\n \n Revenue<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Cost of revenue (includes amortization of platform development and developed technology for 2024 and 2023 of $5,988 and $8,782, respectively)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Gross profit<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Operating expenses<\/b><\/td>\n \n \n \n \n \n <\/tr>\n \n Selling and marketing<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n General and administrative<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Depreciation and amortization<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Loss on impairment of assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Loss on sale of assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Total operating expenses<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Income (loss) from operations<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Other (expense) income<\/b><\/td>\n \n \n \n \n \n <\/tr>\n \n Change in valuation of contingent consideration<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Interest expense, net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Liquidated damages<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Total other expense<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Income (loss) before income taxes<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Income tax provision<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Income (loss) from continuing operations<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Loss from discontinued operations, net of tax<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Net income (loss)<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Basic and diluted net income (loss) per common share:<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Continuing operations<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Discontinued operations<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Basic and diluted net income (loss) per common share<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Weighted average number of common shares outstanding \u2013 basic and diluted<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n
\n THE ARENA GROUP HOLDINGS, INC., AND SUBSIDIARIES<\/b><\/td>\n<\/tr>\n \n CONSOLIDATED BALANCE SHEETS<\/b><\/td>\n<\/tr>\n \n \n Years Ended December 31,<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n ($ in thousands, except share data)<\/i><\/td>\n<\/tr>\n \n Assets<\/b><\/td>\n \n <\/tr>\n \n Current assets:<\/td>\n \n <\/tr>\n \n Cash and cash equivalents<\/td>\n \n \n \n \n \n \n \n Accounts receivables, net<\/td>\n \n \n \n \n \n \n \n Prepayments and other current assets<\/td>\n \n \n \n \n \n \n \n Current assets from discontinued operations<\/td>\n \n \n \n \n \n \n \n Total current assets<\/td>\n \n \n \n \n \n \n \n Property and equipment, net<\/td>\n \n \n \n \n \n \n \n Operating lease right-of-use assets<\/td>\n \n \n \n \n \n \n \n Platform development, net<\/td>\n \n \n \n \n \n \n \n Acquired and other intangible assets, net<\/td>\n \n \n \n \n \n \n \n Other long term assets<\/td>\n \n \n \n \n \n \n \n Goodwill<\/td>\n \n \n \n \n \n \n \n Noncurrent assets from discontinued operations<\/td>\n \n \n \n \n \n \n \n Total assets<\/td>\n \n \n \n \n \n \n \n Liabilities, mezzanine equity and stockholders\u2019 deficiency<\/b><\/td>\n \n <\/tr>\n \n Current liabilities:<\/td>\n \n <\/tr>\n \n Accounts payable<\/td>\n \n \n \n \n \n \n \n Accrued expenses and other<\/td>\n \n \n \n \n \n \n \n Line of credit<\/td>\n \n \n \n \n \n \n \n Unearned revenue<\/td>\n \n \n \n \n \n \n \n Subscription refund liability<\/td>\n \n \n \n \n \n \n \n Operating lease liability, current portion<\/td>\n \n \n \n \n \n \n \n Contingent consideration<\/td>\n \n \n \n \n \n \n \n Liquidating damages payable<\/td>\n \n \n \n \n \n \n \n Bridge notes<\/td>\n \n \n \n \n \n \n \n Debt<\/td>\n \n \n \n \n \n \n \n Current liabilities from discontinued operations<\/td>\n \n \n \n \n \n \n \n Total current liabilities<\/td>\n \n \n \n \n \n \n \n Unearned revenue, net of current portion<\/td>\n \n \n \n \n \n \n \n Operating lease liability, net of current portion<\/td>\n \n \n \n \n \n \n \n Other long-term liabilities<\/td>\n \n \n \n \n \n \n \n Deferred tax liabilities<\/td>\n \n \n \n \n \n \n \n Simplify loan<\/td>\n \n \n \n \n \n \n \n Debt<\/td>\n \n \n \n \n \n \n \n Noncurrent liabilities from discontinued operations<\/td>\n \n \n \n \n \n \n \n Total liabilities<\/td>\n \n \n \n \n \n \n \n Mezzanine equity:<\/td>\n \n <\/tr>\n \n Series G redeemable and convertible preferred stock, $0.01 par value, $1,000 per share liquidation value and 1,800 shares designated; aggregate liquidation value: $168; Series G shares issued and outstanding: 168; common shares issuable upon conversion: 8,582 at December 31, 2024 and December 31, 2023<\/td>\n \n \n \n \n \n \n \n Total mezzanine equity<\/td>\n \n \n \n \n \n \n \n Stockholders’ deficiency:<\/td>\n \n <\/tr>\n \n Common stock, $0.01 par value, authorized 1,000,000,000 shares; issued and outstanding: 47,556,267 and 23,836,706 shares at December 31, 2024 and December 31, 2023, respectively<\/td>\n \n \n \n \n \n \n \n Additional paid-in capital<\/td>\n \n \n \n \n \n \n \n Accumulated deficit<\/td>\n \n \n \n \n \n \n \n Total stockholders\u2019 deficiency<\/td>\n \n \n \n \n \n \n \n Total liabilities, mezzanine equity and stockholders\u2019 deficiency<\/td>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
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\n \n Three Months Ended December 31,<\/b><\/td>\n Years Ended December 31,<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Income (loss) from continued operations<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Add:<\/td>\n \n \n \n <\/tr>\n \n Interest expense (net)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Income taxes<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Depreciation ad amortization<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Stock-based compensation<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Change in valuation of contingent consideration<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Liquidated damages<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Loss on impairment of assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Loss on sale of assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Employee retention credit<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Employee restructuring payments<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Professional and vendor fees<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Adjusted EBITDA<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n <\/p>\n
\n<\/b>
Steve Janisse, The Arena Group
\n
404-574-9206
\n
c-sjanisse@thearenagroup.net<\/a><\/p>\n
\n<\/b>
Rob Fink
\n
FNK IR
\n
646-809-4048
\n
aren@fnkir.com<\/a><\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20250415668228\/en\/2439820\/3\/AG_Logo_black.jpg\"){kind=logo}
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