Arena Group Holdings, Inc. — fact timeline

Arena Group Holdings, Inc. reported the three months ending March 31, 2026 results: revenue $20.4 million, net income $2.7 million.

“The Arena Group Reports Q1 2026 Results Monetization Strategy Optimization, Licensing and Commerce Growth, and AI Adoption Efforts Fuel 2026 Momentum NEW YORK – May 11, 2026 – The Arena Group Holdings, Inc. (NYSE American: AREN) (“The Arena Group” or “Arena”), the brand, data and IP company home to many of the nation's most recognizable brands, including Parade, TheStreet, Men’s Journal, Athlon Sports, ShopHQ and the Adventure Network (including Surfer, Powder, Bike Magazine and more), today announced financial results for the three months ending March 31, 2026 (“Q1 2026”). Financial Highlights for Q1 2026: • First quarter revenue was $20.4 million, compared to $31.8 million in Q1 2025, and gross margin was 34.8% in Q1 2026, compared to 49.4% in Q1 2025, reflecting changes in referral traffic patterns between periods alongside the impact of strategic technical testing performed in Q1 2026 to drive yield and accelerate long-term audience growth. • Net loss was $2.7 million, or -13.2% of”

Arena Group Holdings, Inc. reported the year ended December 31, 2025 results: revenue $134.8 million, net income $28.6 million.

“Full year revenue increased to $134.8 million in 2025 from $125.9 million in 2024 as the result of growth in our non-advertising revenue streams. Full year gross margin significantly expanded to 50.7% in 2025 compared to 44.2% in 2024. Income from continuing operations for 2025 was $28.6 million, up from a loss of $7.7 million in 2024.”

Arena Group Holdings, Inc. reported preliminary financial results for the quarter and year ended December 31, 2025.

“On March 17, 2026, The Arena Group Holdings, Inc. (the “Company”) posted to its investor relations website at https://investors.thearenagroup.net/events-and-presentations/presentations , as well as on its LinkedIn, Instagram and X (formerly known as Twitter) pages, a video presentation by Paul Edmondson, the Company’s Chief Executive Officer, discussing the Company’s business and financial results for the quarter and year ended December 31, 2025.”

Arena Group Holdings, Inc. reported the quarter and year ended December 31, 2025 results: revenue $28.2 million, net income $5.3 million.

“for the three months ending December 31, 2025 (“Q4 2025”) and the year ended December 31, 2025 (“FY 2025”). Financial Highlights for Q4 2025: ● Fourth quarter revenue was $28.2 million, compared to $36.2 million in Q4 2024. Despite this reduction in revenue, gross margin was a robust 43.6% in Q4 2025, compared to 52.8% in Q4 2024, demonstrating the resilience”

Arena Group Holdings, Inc. amended Renew Amendment with Renew Group Private Limited valued at $13.0 million payment (effective 2025-12-31).

“On December 31, 2025, the Company entered into an amendment (the “Renew Amendment”) to its Third Amended and Restated Note Purchase Agreement dated December 15, 2022, as amended on August 14, 2023, December 1, 2023 and July 12, 2024, with Renew Group Private Limited (“Renew”), as lender (the “Renew Loan”).”

Arena Group Holdings, Inc. amended Simplify Amendment with Simplify Inventions, LLC valued at up to $25 million (effective 2025-12-31).

“On December 31, 2025, The Arena Group Holdings, Inc. (the “Company”) entered into an amendment (the “Simplify Amendment”) to its loan agreement dated March 13, 2024, as amended on August 19, 2024, with Simplify Inventions, LLC (“Simplify”) as lender (the “Simplify Loan”).”

Arena Group Holdings, Inc. amended loan with Renew Group Private Limited maturing December 31, 2027.

“greement dated December 15, 2022, as amended on August 14, 2023, December 1, 2023 and July 12, 2024, with Renew Group Private Limited (“Renew”), as lender (the “Renew Loan”). As amended, the Renew Loan will mature on December 31, 2027.”

Arena Group Holdings, Inc. amended credit facility of up to $25 million with Simplify Inventions, LLC maturing December 31, 2027.

“the Simplify Loan provides for up to $25 million of borrowings, reduced from $50 million, and will mature on December 31, 2027.”

Arena Group Holdings, Inc. engaged BDO USA, P.C. as its auditor.

“ewly Appointed Independent Registered Public Accountant On July 11, 2025, the Committee approved the appointment of BDO USA, P.C. (“BDO”) as the Company’s independent registered public accounting firm to perform independent audit services, effective immediately. The selection of BDO as the Company’s independent registered accounting firm was also approved by the Board.”

Arena Group Holdings, Inc. dismissed KPMG LLP as its auditor.

“approved the dismissal of KPMG LLP ("KPMG") as the Company's independent registered public accounting firm, effective immediately.”

Lynn Petersmarck was appointed as Director at Arena Group Holdings, Inc..

“In addition, on April 28, 2025, Lynn Petersmarck was appointed to the Board.”

Carlo Zola resigned as Director at Arena Group Holdings, Inc..

“On April 28, 2025, each of Christopher Fowler, Laura Lee, Christopher Petzel, and Carlo Zola notified The Arena Group Holdings, Inc. (the "Company") that they would resign from the Company's board of directors (the "Board") and all committees thereof, effective as of April 28, 2025.”

Christopher Petzel resigned as Director at Arena Group Holdings, Inc..

“On April 28, 2025, each of Christopher Fowler, Laura Lee, Christopher Petzel, and Carlo Zola notified The Arena Group Holdings, Inc. (the "Company") that they would resign from the Company's board of directors (the "Board") and all committees thereof, effective as of April 28, 2025.”

Laura Lee resigned as Director at Arena Group Holdings, Inc..

“On April 28, 2025, each of Christopher Fowler, Laura Lee, Christopher Petzel, and Carlo Zola notified The Arena Group Holdings, Inc. (the "Company") that they would resign from the Company's board of directors (the "Board") and all committees thereof, effective as of April 28, 2025.”

Christopher Fowler resigned as Director at Arena Group Holdings, Inc..

“On April 28, 2025, each of Christopher Fowler, Laura Lee, Christopher Petzel, and Carlo Zola notified The Arena Group Holdings, Inc. (the "Company") that they would resign from the Company's board of directors (the "Board") and all committees thereof, effective as of April 28, 2025.”

Paul Edmondson was appointed as Chief Executive Officer at Arena Group Holdings, Inc..

“On March 3, 2025, the Board approved Mr. Edmondson as full Chief Executive Officer of the Company.”

Paul Edmondson was appointed as interim Chief Executive Officer at Arena Group Holdings, Inc..

“the Board appointed Paul Edmondson as interim Chief Executive Officer.”

Sara Silverstein was terminated as Chief Executive Officer at Arena Group Holdings, Inc..

“terminated the employment of Sara Silverstein, the Company’s Chief Executive Officer, without cause, effective the same day.”

Arena Group Holdings, Inc.: Adopted Third Restated Bylaws updating director nominations for universal proxy rules, restricting proxy card color, and reducing board size to six (effective 2025-01-13).

“On January 13, 2025, the Board adopted an amendment and restatement of the Company’s Second Amended and Restated Bylaws (as further amended and restated, the “Third Restated Bylaws”) to, among other things: ● make certain updates to director nominations by stockholders in light of the “universal proxy” rules adopted by the U.S. Securities and Exchange Commission, including to require a representation as to whether such stockholder intends to solicit proxies in support of director nominees other than the Company’s nominees in accordance with Rule 14a-19 of the Securities and Exchange Act of 1934 and for such stockholder to provide the Company with a certification demonstrating compliance with such requirement; ● add a provision that any stockholder soliciting proxies from other stockholders must use a proxy card other than white, which is reserved for exclusive use by the Board, and eliminates the requirement that the Company make a stockholder list available for inspection at a meeting”

Arena Group Holdings, Inc. received a nyse_american extension granted notice regarding stockholders equity (rules 1003(a)(i), 1003(a)(ii), 1003(a)(iii)).

“December 20, 2024, The Arena Group Holdings, Inc. (the “Company”) was notified by NYSE American LLC (“NYSE American”) that the Company’s plan to regain compliance with NYSE American’s continued listing standards had been accepted. The Company was required to submit a plan to NYSE American by November 1, 2024 addressing how it intends to regain compliance with Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the Company Guide by April 2, 2026. The Company submitted a plan prior to the deadline. On December 20, 2024, the Company received notice from NYSE American that it had accepted the Com”

Geoffrey Wait was appointed as Principal Financial Officer at Arena Group Holdings, Inc..

“Effective August 6, 2024, Geoffrey Wait, age 37, was appointed as the Principal Financial Officer of The Arena Group Holdings, Inc. (the “Company”).”

Douglas Smith departed as Chief Financial Officer at Arena Group Holdings, Inc..

“Effective May 9, 2024, Douglas Smith was given notice of his separation from The Arena Group Holdings, Inc (the “Company”).”

Manoj Bhargava was appointed as President at Arena Group Holdings, Inc..

“In connection with the departure of Mr. Frankl described above, Manoj Bhargava, previously serving as the Company’s Co-President, will serve as President effective April 26, 2024.”

Jason Frankl departed as Interim Co-President and Chief Business Transformation Officer at Arena Group Holdings, Inc..

“effective April 26, 2024, since the need for services has completed and come to its conclusion, the Company and Jason Frankl have mutually agreed to end the interim management engagement with FTI Consulting Inc.”

Cavitt Randall resigned as Chief Executive Officer at Arena Group Holdings, Inc..

“Effective April 19, 2024, Cavitt Randall resigned as the Chief Executive Officer of the Company in connection with the appointment of Ms. Silverstein.”

Sara Silverstein was appointed as Chief Executive Officer at Arena Group Holdings, Inc..

“Effective April 19, 2024, Sara Silverstein, age 43, was appointed as the Chief Executive Officer of The Arena Group Holdings, Inc (the “Company”).”

Arena Group Holdings, Inc. incurred loan of up to $25 million with Simplify Inventions, LLC at 10% per annum maturing March 13, 2026.

“On March 13, 2024, The Arena Group Holdings, Inc. (the “Company”) entered into a loan agreement (the “Loan Agreement”), by and between the Company and Simplify Inventions, LLC (the “Simplify Loan”), which will provide for up to $25 million of borrowings to be used for working capital and general corporate purposes. The Simplify Loan bears interest at a rate of 10% per annum, payable monthly in arrears unless otherwise demanded by the lender, and will mature on March 13, 2026.”

Arena Group Holdings, Inc. terminated FSA with SLR Digital Finance LLC (effective 2024-03-13).

“ees and contingency reserves under its financing and security agreement dated February 2020 (as amended, the “FSA”) with SLR Digital Finance LLC (“SLR”). The FSA between the Company and SLR was simultaneously terminated.”

Arena Group Holdings, Inc. entered into Loan Agreement with Simplify Inventions, LLC valued at up to $25 million (effective 2024-03-13).

“On March 13, 2024, The Arena Group Holdings, Inc. (the “Company”) entered into a loan agreement (the “Loan Agreement”), by and between the Company and Simplify Inventions, LLC (the “Simplify Loan”), which will provide for up to $25 million of borrowings to be used for working capital and general corporate purposes.”

Manoj Bhargava was appointed as Co-President at Arena Group Holdings, Inc..

“On February 16, 2024, the Board of Directors of the Company (the “Board”) appointed Manoj Bhargava as the Company’s Co-President, effective immediately.”

Arena Group Holdings, Inc. underwent a change of control involving Simplify Inventions, LLC (closed 2024-02-14).

“Simplify acquired 5,555,555 newly issued shares of Common Stock. Prior to the consummation of the Private Placement, the Company's public stockholders held a majority of the outstanding shares of Common Stock. Following the issuance of the Private Placement Shares to Simplify, Simplify owns approximately 54.5% of the outstanding shares of Common Stock. As a result, Simplify has the ability to determine the outcome of any issue submitted to the Company's stockholders for approval, including the election of directors.”

Arena Group Holdings, Inc. entered into Subscription Agreement with Simplify Inventions, LLC valued at $12,000,000 (effective 2024-02-14).

“On February 14, 2024, The Arena Group Holdings, Inc. (the “Company”) entered into a Subscription Agreement (the “Subscription Agreement”) with Simplify Inventions, LLC (“Simplify”), pursuant to which the Company agreed to sell and issue to Simplify in a private placement (the “Private Placement”) an aggregate of 5,555,555 shares (the “Private Placement Shares”) of the Company’s common stock, par value $0.01 per share (the “Common Stock”), at a purchase price of $2.16 per share, a price equal to the 60-day volume weighted average price of the Common Stock.”

Cavitt Randall was appointed as Chief Executive Officer at Arena Group Holdings, Inc..

“On February 9, 2024, the Board appointed Cavitt Randall as the Company’s Chief Executive Officer, effective February 13, 2024.”

Jason Frankl was appointed as interim President at Arena Group Holdings, Inc..

“On January 23, 2024, the Board appointed Jason Frankl as interim President of the Company, effective immediately.”

Ross Levinsohn resigned as Director at Arena Group Holdings, Inc..

“On January 19, 2024, The Arena Group Holdings, Inc. (the “Company”) received email correspondence from Ross Levinsohn tendering his resignation (the “Resignation Email”) as a member of the Board of Directors (the “Board”) of the Company.”

Arena Group Holdings, Inc. announced a restructuring with charges of approximately $5 million to $7 million (approximately one-third of its current workforce).

“Where required, worker adjustment and retraining notification (“WARN”) shall be given. In connection with these actions, the Company estimates that it will incur approximately $5 million to $7 million in total restructuring charges, the substantial majority of which are future cash-based expenditures and substantially all of which are related to, employee”

Arena Group Holdings, Inc. terminated Licensing Agreement with ABG-SI LLC valued at Termination of Licensing Agreement; $45 million fee became due; outstanding warrants vested (effective 2024-01-18).

“On January 18, 2024, ABG notified the Company of its intention to terminate the Licensing Agreement, effective immediately, in accordance with its rights under the Licensing Agreement.”

Arena Group Holdings, Inc. reported a default on credit facility of approximately $19,609,000 with SLR Digital Finance LLC.

“of cross-default with SLR Digital Finance LLC (“SLR”). The Company is in discussion with SLR. The principal amount due under the credit facility with SLR was approximately $ 19,609,000 as of December 31, 2023.”

Arena Group Holdings, Inc. reported a default on senior notes of approximately $110,691,000 with Renew Group Private Limited.

“Renew Group Private Limited (“RGPL” and the “RGPL Notes” respectively) in the amount of approximately $2,797,000. The outstanding principal on the RGPL Notes was approximately $110,691,000 as of December 31, 2023. This created an event of default under the RGPL Notes (the “RGPL Default”). The Company is currently in discussions with RGPL to restructure and/or amend”

Jason Frankl was appointed as Chief Business Transformation Officer at Arena Group Holdings, Inc..

“As of part of it, Jason Frankl, a senior managing director of FTI, was appointed as the Company’s Chief Business Transformation Officer.”

Manoj Bhargava resigned as interim Chief Executive Officer at Arena Group Holdings, Inc..

“On January 4, 2024, the Board of Directors of the Company (the “Board”) accepted the resignation of Manoj Bhargava from his position as interim Chief Executive Officer effective immediately.”

Manoj Bhargava was appointed as Interim Chief Executive Officer at Arena Group Holdings, Inc..

“On December 11, 2023, the board of directors (the “Board”) of The Arena Group Holdings, Inc. (the “Company”) appointed Manoj Bhargava as the Company’s Interim Chief Executive Officer, effective immediately.”

Andrew Kraft was terminated as President, Operations at Arena Group Holdings, Inc..

“On December 5, 2023, The Arena Group Holdings, Inc. (the “Company”) terminated the employment of each of H. Robertson Barrett and Andrew Kraft, the Company’s President, Media and President, Operations, respectively.”

H. Robertson Barrett was terminated as President, Media at Arena Group Holdings, Inc..

“On December 5, 2023, The Arena Group Holdings, Inc. (the “Company”) terminated the employment of each of H. Robertson Barrett and Andrew Kraft, the Company’s President, Media and President, Operations, respectively.”

Ross Levinsohn was terminated as Chief Executive Officer at Arena Group Holdings, Inc..

“on December 11, 2023, the Company’s board of directors terminated the employment of Ross Levinsohn, the Company’s Chief Executive Officer, effective immediately.”

Arena Group Holdings, Inc. amended BCA Amendment with Simplify Inventions, LLC, Bridge Media Networks, LLC, New Arena Holdco, Inc., Energy Merger Sub I, LLC, Energy Merger Sub II, LLC (effective 2023-12-01).

“On December 1, 2023, The Arena Group Holdings, Inc., a Delaware corporation (the “Company”), entered into an amendment (the “BCA Amendment”) to the previously announced Business Combination Agreement, dated November 5, 2023 (the “Business Combination Agreement”), by and among the Company, Simplify Inventions, LLC, a Delaware limited liability company (“Simplify”), Bridge Media Networks, LLC, a Michigan limited liability company and a wholly owned subsidiary of Simplify (“Bridge Media”), New Arena Holdco, Inc., a Delaware corporation and a wholly owned subsidiary of the Company (“Newco” and, following the consummation of the Mergers (as defined in the Business Combination Agreement), “New Arena”), Energy Merger Sub I, LLC, a Delaware limited liability company and a wholly owned subsidiary of Newco, and Energy Merger Sub II, LLC a Delaware limited liability company and a wholly owned subsidiary of Newco.”

Christopher Fowler was appointed as Director at Arena Group Holdings, Inc..

“the Board appointed each of Cavitt Randall and Christopher Fowler to fill the vacancies created by Mr. Sims and Mr. Shribman, effective upon the closing of the Simplify Purchase Transactions.”

Cavitt Randall was appointed as Director at Arena Group Holdings, Inc..

“the Board appointed each of Cavitt Randall and Christopher Fowler to fill the vacancies created by Mr. Sims and Mr. Shribman, effective upon the closing of the Simplify Purchase Transactions.”

Daniel Shribman resigned as Director at Arena Group Holdings, Inc..

“on November 29, 2023, Todd Sims and Daniel Shribman notified the Company of their intent to resign from the Board, effective upon the closing of the Simplify Purchase Transactions.”

Todd Sims resigned as Director at Arena Group Holdings, Inc..

“on November 29, 2023, Todd Sims and Daniel Shribman notified the Company of their intent to resign from the Board, effective upon the closing of the Simplify Purchase Transactions.”