vs
Side-by-side financial comparison of AEMETIS, INC (AMTX) and Arena Group Holdings, Inc. (AREN). Click either name above to swap in a different company.
AEMETIS, INC is the larger business by last-quarter revenue ($43.3M vs $28.2M, roughly 1.5× Arena Group Holdings, Inc.). On growth, AEMETIS, INC posted the faster year-over-year revenue change (-7.9% vs -22.0%). Over the past eight quarters, Arena Group Holdings, Inc.'s revenue compounded faster (-1.2% CAGR vs -22.8%).
Aemetis, Inc. is a renewable fuels and sustainable biochemicals producer operating across North America and India. Its core products include low-carbon ethanol, renewable natural gas and biodiesel, serving transportation, industrial and agricultural sectors with decarbonization solutions for commercial clients.
Arena Racing Company, also called ARC Racing and Leisure Group is a UK private company, created in 2012 by the merger of Arena Leisure and Northern Racing. It owns and operates 16 racecourses in Great Britain, accounting for 39% of British racing fixtures. It also operates hotels at Wolverhampton Racecourse, Lingfield Park Racecourse and Doncaster Racecourse and golf courses at Lingfield, Southwell and Newcastle.
AMTX vs AREN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.3M | $28.2M |
| Net Profit | — | $5.3M |
| Gross Margin | 17.8% | 43.6% |
| Operating Margin | -5.7% | 26.6% |
| Net Margin | — | 18.9% |
| Revenue YoY | -7.9% | -22.0% |
| Net Profit YoY | — | -22.5% |
| EPS (diluted) | $-0.03 | $0.12 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $43.3M | $28.2M | ||
| Q3 25 | $59.2M | $29.8M | ||
| Q2 25 | $52.2M | $45.0M | ||
| Q1 25 | $42.9M | $31.8M | ||
| Q4 24 | $47.0M | $36.2M | ||
| Q3 24 | $81.4M | $33.6M | ||
| Q2 24 | $66.6M | $27.2M | ||
| Q1 24 | $72.6M | $28.9M |
| Q4 25 | — | $5.3M | ||
| Q3 25 | $-23.7M | $6.9M | ||
| Q2 25 | $-23.4M | $108.6M | ||
| Q1 25 | $-24.5M | $4.0M | ||
| Q4 24 | — | $6.9M | ||
| Q3 24 | $-17.9M | $4.0M | ||
| Q2 24 | $-29.2M | $-8.2M | ||
| Q1 24 | $-24.2M | $-103.4M |
| Q4 25 | 17.8% | 43.6% | ||
| Q3 25 | -0.1% | 50.2% | ||
| Q2 25 | -6.4% | 56.5% | ||
| Q1 25 | -11.8% | 49.3% | ||
| Q4 24 | -4.3% | 52.6% | ||
| Q3 24 | 4.8% | 50.6% | ||
| Q2 24 | -2.7% | 39.4% | ||
| Q1 24 | -0.8% | 30.9% |
| Q4 25 | -5.7% | 26.6% | ||
| Q3 25 | -14.4% | 31.9% | ||
| Q2 25 | -20.4% | 36.5% | ||
| Q1 25 | -36.3% | 23.1% | ||
| Q4 24 | -28.7% | 28.6% | ||
| Q3 24 | -4.8% | 24.0% | ||
| Q2 24 | -20.4% | -9.5% | ||
| Q1 24 | -13.0% | -27.5% |
| Q4 25 | — | 18.9% | ||
| Q3 25 | -40.1% | 23.1% | ||
| Q2 25 | -44.8% | 241.4% | ||
| Q1 25 | -57.2% | 12.6% | ||
| Q4 24 | — | 19.0% | ||
| Q3 24 | -22.0% | 11.8% | ||
| Q2 24 | -43.8% | -30.1% | ||
| Q1 24 | -33.4% | -357.1% |
| Q4 25 | $-0.03 | $0.12 | ||
| Q3 25 | $-0.37 | $0.14 | ||
| Q2 25 | $-0.41 | $2.28 | ||
| Q1 25 | $-0.47 | $0.08 | ||
| Q4 24 | $-0.29 | $1.23 | ||
| Q3 24 | $-0.38 | $0.11 | ||
| Q2 24 | $-0.66 | $-0.28 | ||
| Q1 24 | $-0.58 | $-3.91 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.9M | $10.3M |
| Total DebtLower is stronger | — | $97.6M |
| Stockholders' EquityBook value | $-306.8M | $-4.8M |
| Total Assets | $259.8M | $112.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $10.3M | ||
| Q3 25 | $5.6M | $12.5M | ||
| Q2 25 | $1.6M | $6.8M | ||
| Q1 25 | $499.0K | $2.9M | ||
| Q4 24 | $898.0K | $4.4M | ||
| Q3 24 | $296.0K | $5.8M | ||
| Q2 24 | $234.0K | $6.1M | ||
| Q1 24 | $1.6M | $4.0M |
| Q4 25 | — | $97.6M | ||
| Q3 25 | — | $110.5M | ||
| Q2 25 | — | $110.5M | ||
| Q1 25 | — | $110.5M | ||
| Q4 24 | $338.1M | $110.4M | ||
| Q3 24 | $322.2M | $102.4M | ||
| Q2 24 | $309.0M | $102.4M | ||
| Q1 24 | $307.2M | $102.3M |
| Q4 25 | $-306.8M | $-4.8M | ||
| Q3 25 | $-304.9M | $-10.4M | ||
| Q2 25 | $-289.3M | $-17.3M | ||
| Q1 25 | $-280.7M | $-126.1M | ||
| Q4 24 | $-263.9M | $-130.3M | ||
| Q3 24 | $-258.9M | $-137.5M | ||
| Q2 24 | $-249.0M | $-157.2M | ||
| Q1 24 | $-232.1M | $-149.6M |
| Q4 25 | $259.8M | $112.6M | ||
| Q3 25 | $241.1M | $121.4M | ||
| Q2 25 | $240.0M | $127.8M | ||
| Q1 25 | $242.5M | $114.6M | ||
| Q4 24 | $259.3M | $116.4M | ||
| Q3 24 | $259.3M | $114.2M | ||
| Q2 24 | $259.3M | $113.4M | ||
| Q1 24 | $259.3M | $120.3M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $5.8M | $13.1M |
| Free Cash FlowOCF − Capex | $-10.8M | — |
| FCF MarginFCF / Revenue | -24.9% | — |
| Capex IntensityCapex / Revenue | 38.2% | — |
| Cash ConversionOCF / Net Profit | — | 2.46× |
| TTM Free Cash FlowTrailing 4 quarters | $-22.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.8M | $13.1M | ||
| Q3 25 | $3.1M | $12.2M | ||
| Q2 25 | $-5.7M | $10.3M | ||
| Q1 25 | $160.0K | $3.7M | ||
| Q4 24 | $-12.6M | $-8.6M | ||
| Q3 24 | $-5.0M | $-2.3M | ||
| Q2 24 | $-5.1M | $-3.2M | ||
| Q1 24 | $-10.3M | $-2.0M |
| Q4 25 | $-10.8M | — | ||
| Q3 25 | $-1.0M | — | ||
| Q2 25 | $-9.3M | — | ||
| Q1 25 | $-1.7M | — | ||
| Q4 24 | $-19.4M | — | ||
| Q3 24 | $-9.5M | $-2.4M | ||
| Q2 24 | $-10.5M | — | ||
| Q1 24 | $-13.9M | — |
| Q4 25 | -24.9% | — | ||
| Q3 25 | -1.7% | — | ||
| Q2 25 | -17.7% | — | ||
| Q1 25 | -3.9% | — | ||
| Q4 24 | -41.2% | — | ||
| Q3 24 | -11.6% | -7.1% | ||
| Q2 24 | -15.8% | — | ||
| Q1 24 | -19.1% | — |
| Q4 25 | 38.2% | — | ||
| Q3 25 | 6.9% | 0.0% | ||
| Q2 25 | 6.7% | — | ||
| Q1 25 | 4.3% | — | ||
| Q4 24 | 14.4% | — | ||
| Q3 24 | 5.5% | 0.1% | ||
| Q2 24 | 8.1% | — | ||
| Q1 24 | 4.9% | — |
| Q4 25 | — | 2.46× | ||
| Q3 25 | — | 1.77× | ||
| Q2 25 | — | 0.09× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | — | -1.25× | ||
| Q3 24 | — | -0.59× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMTX
| Ethanol Sales | $28.8M | 66% |
| Wet Distillers Grains | $6.8M | 16% |
| California Dairy Renewable Natural Gas | $5.2M | 12% |
| Other | $1.8M | 4% |
AREN
Segment breakdown not available.
