---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-022320"
form_type: "8-K"
ticker: "AREN"
cik: "0000894871"
company_name: "Arena Group Holdings, Inc."
filed_at: "2025-11-13T23:59:59+00:00"
generated_at: "2026-05-16T20:45:27.722653+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-25-022320
- form_type: 8-K
- ticker: AREN
- cik: 0000894871
- company_name: Arena Group Holdings, Inc.
- filed_at: 2025-11-13T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/894871/000149315225022320/0001493152-25-022320-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/894871/000149315225022320/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-022320
- JSON: https://secwatch.observer/filing/0001493152-25-022320.json
- Plain text: https://secwatch.observer/filing/0001493152-25-022320.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.