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Side-by-side financial comparison of Apyx Medical Corp (APYX) and Arena Group Holdings, Inc. (AREN). Click either name above to swap in a different company.
Arena Group Holdings, Inc. is the larger business by last-quarter revenue ($28.2M vs $19.2M, roughly 1.5× Apyx Medical Corp). Arena Group Holdings, Inc. runs the higher net margin — 18.9% vs -6.8%, a 25.7% gap on every dollar of revenue. On growth, Apyx Medical Corp posted the faster year-over-year revenue change (34.7% vs -22.0%). Over the past eight quarters, Apyx Medical Corp's revenue compounded faster (36.8% CAGR vs -1.2%).
Bovie Medical Corporation was an American medical device manufacturer of medical devices, electrosurgical products and energy technologies. It was based in Clearwater, Florida with a manufacturing facility in Bulgaria.
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.
APYX vs AREN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $19.2M | $28.2M |
| Net Profit | $-1.3M | $5.3M |
| Gross Margin | 62.6% | 43.6% |
| Operating Margin | 0.1% | 26.6% |
| Net Margin | -6.8% | 18.9% |
| Revenue YoY | 34.7% | -22.0% |
| Net Profit YoY | 71.9% | -22.5% |
| EPS (diluted) | — | $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 | $19.2M | $28.2M | ||
| Q3 25 | $12.9M | $29.8M | ||
| Q2 25 | $11.4M | $45.0M | ||
| Q1 25 | $9.4M | $31.8M | ||
| Q4 24 | $14.2M | $36.2M | ||
| Q3 24 | $11.5M | $33.6M | ||
| Q2 24 | $12.1M | $27.2M | ||
| Q1 24 | $10.2M | $28.9M |
| Q4 25 | $-1.3M | $5.3M | ||
| Q3 25 | $-2.0M | $6.9M | ||
| Q2 25 | $-3.8M | $108.6M | ||
| Q1 25 | $-4.2M | $4.0M | ||
| Q4 24 | $-4.6M | $6.9M | ||
| Q3 24 | $-4.7M | $4.0M | ||
| Q2 24 | $-6.6M | $-8.2M | ||
| Q1 24 | $-7.6M | $-103.4M |
| Q4 25 | 62.6% | 43.6% | ||
| Q3 25 | 64.4% | 50.2% | ||
| Q2 25 | 62.3% | 56.5% | ||
| Q1 25 | 60.1% | 49.3% | ||
| Q4 24 | 63.0% | 52.6% | ||
| Q3 24 | 60.5% | 50.6% | ||
| Q2 24 | 61.7% | 39.4% | ||
| Q1 24 | 58.1% | 30.9% |
| Q4 25 | 0.1% | 26.6% | ||
| Q3 25 | -6.5% | 31.9% | ||
| Q2 25 | -22.6% | 36.5% | ||
| Q1 25 | -32.4% | 23.1% | ||
| Q4 24 | -21.4% | 28.6% | ||
| Q3 24 | -31.6% | 24.0% | ||
| Q2 24 | -45.7% | -9.5% | ||
| Q1 24 | -64.6% | -27.5% |
| Q4 25 | -6.8% | 18.9% | ||
| Q3 25 | -15.4% | 23.1% | ||
| Q2 25 | -33.2% | 241.4% | ||
| Q1 25 | -44.0% | 12.6% | ||
| Q4 24 | -32.5% | 19.0% | ||
| Q3 24 | -40.9% | 11.8% | ||
| Q2 24 | -54.0% | -30.1% | ||
| Q1 24 | -74.0% | -357.1% |
| Q4 25 | — | $0.12 | ||
| Q3 25 | — | $0.14 | ||
| Q2 25 | — | $2.28 | ||
| Q1 25 | — | $0.08 | ||
| Q4 24 | — | $1.23 | ||
| Q3 24 | — | $0.11 | ||
| Q2 24 | $-0.19 | $-0.28 | ||
| Q1 24 | $-0.22 | $-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 | $31.7M | $10.3M |
| Total DebtLower is stronger | $37.5M | $97.6M |
| Stockholders' EquityBook value | $14.5M | $-4.8M |
| Total Assets | $66.8M | $112.6M |
| Debt / EquityLower = less leverage | 2.58× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.7M | $10.3M | ||
| Q3 25 | $25.1M | $12.5M | ||
| Q2 25 | $29.3M | $6.8M | ||
| Q1 25 | $31.0M | $2.9M | ||
| Q4 24 | $31.7M | $4.4M | ||
| Q3 24 | $28.0M | $5.8M | ||
| Q2 24 | $32.7M | $6.1M | ||
| Q1 24 | $37.3M | $4.0M |
| Q4 25 | $37.5M | $97.6M | ||
| Q3 25 | $37.5M | $110.5M | ||
| Q2 25 | $37.5M | $110.5M | ||
| Q1 25 | $37.5M | $110.5M | ||
| Q4 24 | $37.5M | $110.4M | ||
| Q3 24 | $37.5M | $102.4M | ||
| Q2 24 | — | $102.4M | ||
| Q1 24 | — | $102.3M |
| Q4 25 | $14.5M | $-4.8M | ||
| Q3 25 | $5.8M | $-10.4M | ||
| Q2 25 | $7.3M | $-17.3M | ||
| Q1 25 | $10.5M | $-126.1M | ||
| Q4 24 | $14.2M | $-130.3M | ||
| Q3 24 | $11.0M | $-137.5M | ||
| Q2 24 | $14.7M | $-157.2M | ||
| Q1 24 | $20.3M | $-149.6M |
| Q4 25 | $66.8M | $112.6M | ||
| Q3 25 | $57.4M | $121.4M | ||
| Q2 25 | $58.2M | $127.8M | ||
| Q1 25 | $60.2M | $114.6M | ||
| Q4 24 | $64.8M | $116.4M | ||
| Q3 24 | $60.7M | $114.2M | ||
| Q2 24 | $65.4M | $113.4M | ||
| Q1 24 | $70.7M | $120.3M |
| Q4 25 | 2.58× | — | ||
| Q3 25 | 6.41× | — | ||
| Q2 25 | 5.17× | — | ||
| Q1 25 | 3.57× | — | ||
| Q4 24 | 2.64× | — | ||
| Q3 24 | 3.40× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-2.5M | $13.1M |
| Free Cash FlowOCF − Capex | $-2.8M | — |
| FCF MarginFCF / Revenue | -14.6% | — |
| Capex IntensityCapex / Revenue | 1.4% | — |
| Cash ConversionOCF / Net Profit | — | 2.46× |
| TTM Free Cash FlowTrailing 4 quarters | $-9.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.5M | $13.1M | ||
| Q3 25 | $-3.5M | $12.2M | ||
| Q2 25 | $-1.2M | $10.3M | ||
| Q1 25 | $-702.0K | $3.7M | ||
| Q4 24 | $-2.9M | $-8.6M | ||
| Q3 24 | $-4.4M | $-2.3M | ||
| Q2 24 | $-4.3M | $-3.2M | ||
| Q1 24 | $-6.3M | $-2.0M |
| Q4 25 | $-2.8M | — | ||
| Q3 25 | $-4.1M | — | ||
| Q2 25 | $-1.5M | — | ||
| Q1 25 | $-757.0K | — | ||
| Q4 24 | $-3.2M | — | ||
| Q3 24 | $-4.6M | $-2.4M | ||
| Q2 24 | $-4.6M | — | ||
| Q1 24 | $-6.4M | — |
| Q4 25 | -14.6% | — | ||
| Q3 25 | -31.5% | — | ||
| Q2 25 | -13.2% | — | ||
| Q1 25 | -8.0% | — | ||
| Q4 24 | -22.4% | — | ||
| Q3 24 | -40.0% | -7.1% | ||
| Q2 24 | -38.0% | — | ||
| Q1 24 | -62.2% | — |
| Q4 25 | 1.4% | — | ||
| Q3 25 | 4.0% | 0.0% | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | 0.6% | — | ||
| Q4 24 | 1.7% | — | ||
| Q3 24 | 1.3% | 0.1% | ||
| Q2 24 | 2.4% | — | ||
| Q1 24 | 0.3% | — |
| 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.
