Arena Group Q3 net income rises 73% to $6.9M; revenue down to $29.8M

Arena Group Holdings, Inc.

2025-Q3 EPS reported $2.51 vs consensus $0.16 ▲ beat (+1438.0%)

Q3 revenue $29.8M vs $33.6M (prior year included $3M one-time licensing gain).
Net income $6.9M ($0.14 EPS), up from $4.0M; adjusted EBITDA $11.9M, margin 39.9%.
Cash $12.5M; net leverage below 2x after $10M debt payments year-to-date.
Non-advertising revenue for Athlon Sports and Men's Journal up nearly 200%.
In Oct 2025 acquired ShopHQ and Lindy's Sports digital assets for cash.

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