{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-25-024265","form_type":"8-K","ticker":"AREN","cik":"0000894871","company_name":"Arena Group Holdings, Inc.","filed_at":"2025-11-19T23:59:59+00:00","discovered_at":"2026-05-14T18:02:42.525320+00:00","generated_at":"2026-05-16T18:39:37.329932+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Arena Group Q3 2025: Net income $6.9M, EBITDA $11.9M, margins expand","bullets":["Q3 revenue $29.8M (down from $33.6M); prior year included $3M one-time licensing.","Net income $6.9M vs $4M YoY; net margin 23.2% (up from 11.9%).","Adjusted EBITDA $11.9M vs $11.2M; EBITDA margin 39.9% (up from 33.3%).","Trailing 12-month EBITDA >$50M; net debt <$100M; leverage under 2x.","Reaches >100M monthly users across sports, lifestyle, finance brands."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-25-024265","json":"https://secwatch.observer/filing/0001493152-25-024265.json","markdown":"https://secwatch.observer/filing/0001493152-25-024265.md","text":"https://secwatch.observer/filing/0001493152-25-024265.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/894871/000149315225024265/0001493152-25-024265-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/894871/000149315225024265/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T18:39:37.329932+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}