Arena Group Q1 revenue up 7% to $51.4M, net loss widens to $19.4M, cash burn improves

Arena Group Holdings, Inc.

2024-Q1 EPS reported -$1.04 revenue$51,380,000

Revenue $51.4M (up 7% YoY), digital ad revenue $23.5M (+9% YoY).
Net loss $19.4M (wider by $1.0M vs $18.4M in Q1 2022).
Adjusted EBITDA loss $4.5M vs loss $1.1M; includes $15.3M in non-cash charges.
Cash used in operations improved to $1.7M from $13.3M, an $11.6M reduction.
Full-year 2023 guidance reaffirmed; acquired Fexy Studios in January 2023.

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 0.7

Arena Group Holdings, Inc. updated its the three months ended March 31, 2023 guidance (reaffirmed).

Period: the three months ended March 31, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On May 10, 2023, The Arena Group Holdings, Inc. issued a press release announcing its financial results for the quarter ended March 31, 2023.

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Arena Group Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-016162

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