Arena Group reports record Q3 revenue of $66.7M; digital ad revenue up 56% to $28.5M

Arena Group Holdings, Inc.

2023-Q3 EPS reported -$3.30 revenue$180,024,000

Record quarterly revenue of $66.7M; digital advertising revenue increased 56% to $28.5M.
Net loss improved to $16.5M from $24.7M in prior-year quarter; adjusted EBITDA of $3.0M vs $3.3M.
Gross profit of $26.2M vs $27.4M in Q3 2021; operating expenses decreased by $11.1M to $38.6M.
Audience grew 32% to nearly 1.5B pageviews; licensing and syndication revenue up 15% to $4.8M.
Signed 24 new publishing partners; first nine months revenue $180.0M, up 41% YoY.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Arena Group Holdings, Inc. reported the three months ended September 30, 2022 results: revenue $66.7 million, net income $16.5 million.

Period: the three months ended September 30, 2022
Revenue: $66.7 million
Net income: $16.5 million
Result: reported results

Exact text from the filing

The Arena Group Holdings, Inc. (NYSE American: AREN) (the “Company” or “The Arena Group”), a tech-powered media company home to more than 250 brands, including Sports Illustrated, TheStreet, Inc. (“TheStreet”), Parade Media (“Parade”), and HubPages, Inc. (“HubPages”) operating on a single technology platform, today announced financial results for the third quarter of 2022, the three and nine months ended September 30, 2022. Third Quarter 2022 And Nine Month Financial and Operational Highlights ● Total revenue for the third quarter was $66.7 million, the largest quarterly revenue in Company history and $180.0 million in revenue for the first nine months, a 41% increase. ● Digital advertising revenue increased 56% in the third quarter to a record $28.5 million from $18.3 million in the third quarter of 2021. ● Quarterly gross profit was $26.2 million as compared to $27.4 million in the prior year period, a slight decline due in part to the absence of both the Summer Olympics and the laun

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Source: SEC EDGAR

accession 0001493152-22-031126

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