earnings
confidence high
sentiment positive
materiality 0.75
Arena Group posts first-ever profitable quarter with $4M net income in Q3 2024
Arena Group Holdings, Inc.
2024-Q3 EPS reported
-$3.44
revenue$89,679,000
- Net income of $4.0M ($0.11 diluted EPS) vs net loss of $11.2M ($0.47 loss per share) in Q3 2023.
- Revenue $33.6M, down 9% YoY from $37.0M, but operating expenses cut 51% to $8.9M.
- Adjusted EBITDA jumped to $11.2M from $3.1M in prior year.
- Extended credit line maturity and converted $15M of debt to common equity.
- Acquired Autoblog and other sites as part of licensing deal for its CMS.