The Arena Group Generates $4.0 Million in Net Income for Third Quarter of 2024; First Ever Profitable Quarter
The Arena Group Holdings, Inc. (AREN)
Company Research
Source: Business Wire
Company reduces quarterly operating expenses by 51% vs. the same quarter prior year, drives $13.6 million positive swing in quarterly income from continuing operations, demonstrating transformation plan’s rapid effectiveness NEW YORK--(BUSINESS WIRE)--The Arena Group Holdings, Inc. (NYSE American: AREN) (“Arena”), a technology platform and media company home to hundreds of media brands, including TheStreet, Parade Media (“Parade”), Men’s Journal, Surfer, Powder and Athlon Sports, today announced financial results for the three and nine months ending September 30, 2024 (“Q3 2024”). The Company’s business transformation plan enabled a positive swing of more than $13.6 million in quarterly income from continuing operations in the third quarter of 2024 compared to the net loss from continuing operations in the third quarter of 2023 (“Q3 2023”). This resulted in quarterly net income of $4.0 million and the first quarter of positive net income in the Company’s history.Financial Highlight
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News
- The Arena Group Receives Notice Accepting Plan to Regain Compliance with Continued Listing Standards [Yahoo! Finance]Yahoo! Finance
- The Arena Group Receives Notice Accepting Plan to Regain Compliance with Continued Listing StandardsBusiness Wire
- Beloved Fitness Brand, Men’s Fitness, Returns under The Arena GroupBusiness Wire
- Nate Bargatze Reveals Plans for the Future in Exclusive Parade Cover Story: ‘I hope to get out of the way and let the next wave of comedians come up’Business Wire
- Tom Selleck’s Candid Parade Cover Story: ‘I’m Not Sure What’s Next’Business Wire
AREN
Sec Filings
- 12/26/24 - Form 8-K
- 12/16/24 - Form 8-K
- 12/9/24 - Form 4
- AREN's page on the SEC website