Arena Group Holdings, Inc.
For the period ended Sep 30, 2025. Filed Nov 13, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 13, 2025
PAAI$0.74-17.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (Unaudited) -
(In thousands of dollars)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities | ||
| Net income (loss) | $119,524 | $(107,589) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation of property and equipment | 87 | 186 |
| Amortization of platform development and intangible assets | 6,389 | 9,550 |
| Amortization of debt costs | 95 | 626 |
| Noncash and accrued interest | — | 8,423 |
| Loss on impairment of assets | — | 40,589 |
| Change in fair value of contingent consideration | — | 313 |
| Liquidated damages | 228 | 229 |
| Stock-based compensation | 414 | 2,736 |
| Deferred income taxes | 70 | 93 |
| Credit losses | 219 | 1,269 |
| Other | 2 | (19) |
| Change in operating assets and liabilities: | ||
| Accounts receivable | 4,695 | 17,051 |
| Subscription acquisition costs | — | 6,131 |
| Prepayments and other current assets | (1,165) | 923 |
| Other long-term assets | 11 | 647 |
| Accounts payable | (4,627) | (4,171) |
| Accrued expenses and other | (52,999) | 35,069 |
| Unearned revenue | (46,622) | (17,145) |
| Subscription refund liability | (612) | 70 |
| Operating lease liability | 422 | (445) |
| Contingent consideration | — | (1,683) |
| Other long-term liabilities | — | (360) |
| Net cash provided by (used in) operating activities | 26,131 | (7,507) |
| Cash flows from investing activities | ||
| Purchases of property and equipment | — | (54) |
| Purchases of intangible assets | (1,000) | — |
| Capitalized platform development | (6,291) | (2,765) |
| Net cash used in investing activities | (7,291) | (2,819) |
| Cash flows from financing activities | ||
| Payment of Fexy put option | — | (561) |
| Repayments under line of credit | — | (20,027) |
| Proceeds from common stock private placement | — | 12,000 |
| Proceeds from Simplify loan | — | 16,100 |
| Repayment of Simplify loan | (10,651) | — |
| Payments of deferred cash payment | — | (200) |
| Payments of taxes from common stock withheld | (28) | (497) |
| Net cash (used in) provided by financing activities | (10,679) | 6,815 |
| Net change in cash and cash equivalents | 8,161 | (3,511) |
| Cash and cash equivalents — beginning of year | 4,362 | 9,284 |
| Cash and cash equivalents — end of period | $12,523 | $5,773 |
| Supplemental disclosures of cash flow information | ||
| Cash paid for interest | $8,722 | $2,698 |
| Cash paid for income taxes | 517 | 85 |
| Noncash investing and financing activities | ||
| Reclassification of stock-based compensation to platform development | $25 | $245 |
| Purchase of intangible asset with accrued expenses and other | — | — |
| Repurchase of common stock for Fexy put option | — | 379 |
| Issuance of common stock pursuant to common stock purchased agreement in connection with exchange of debt | — | 15,000 |
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