vs
Side-by-side financial comparison of Arena Group Holdings, Inc. (AREN) and Aterian, Inc. (ATER). 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 $15.1M, roughly 1.9× Aterian, Inc.). Arena Group Holdings, Inc. runs the higher net margin — 18.9% vs -52.5%, a 71.4% gap on every dollar of revenue. On growth, Arena Group Holdings, Inc. posted the faster year-over-year revenue change (-22.0% vs -38.5%). Over the past eight quarters, Arena Group Holdings, Inc.'s revenue compounded faster (-1.2% CAGR vs -13.5%).
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.
Aterian, Inc. is a technology-enabled consumer products company that leverages artificial intelligence and data analytics to identify market demand, develop, source and distribute a wide portfolio of affordable goods spanning home improvement, wellness, personal care, pet supplies and outdoor recreation. It primarily sells its products through leading global e-commerce platforms, with core markets covering North America and Europe.
AREN vs ATER — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $28.2M | $15.1M |
| Net Profit | $5.3M | $-7.9M |
| Gross Margin | 43.6% | 56.1% |
| Operating Margin | 26.6% | -51.1% |
| Net Margin | 18.9% | -52.5% |
| Revenue YoY | -22.0% | -38.5% |
| Net Profit YoY | -22.5% | -512.2% |
| 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 | $28.2M | $15.1M | ||
| Q3 25 | $29.8M | $19.0M | ||
| Q2 25 | $45.0M | $19.5M | ||
| Q1 25 | $31.8M | $15.4M | ||
| Q4 24 | $36.2M | $24.6M | ||
| Q3 24 | $33.6M | $26.2M | ||
| Q2 24 | $27.2M | $28.0M | ||
| Q1 24 | $28.9M | $20.2M |
| Q4 25 | $5.3M | $-7.9M | ||
| Q3 25 | $6.9M | $-2.3M | ||
| Q2 25 | $108.6M | $-4.9M | ||
| Q1 25 | $4.0M | $-3.9M | ||
| Q4 24 | $6.9M | $-1.3M | ||
| Q3 24 | $4.0M | $-1.8M | ||
| Q2 24 | $-8.2M | $-3.6M | ||
| Q1 24 | $-103.4M | $-5.2M |
| Q4 25 | 43.6% | 56.1% | ||
| Q3 25 | 50.2% | 56.1% | ||
| Q2 25 | 56.5% | 54.3% | ||
| Q1 25 | 49.3% | 61.4% | ||
| Q4 24 | 52.6% | 63.4% | ||
| Q3 24 | 50.6% | 60.3% | ||
| Q2 24 | 39.4% | 60.4% | ||
| Q1 24 | 30.9% | 65.1% |
| Q4 25 | 26.6% | -51.1% | ||
| Q3 25 | 31.9% | -10.7% | ||
| Q2 25 | 36.5% | -23.1% | ||
| Q1 25 | 23.1% | -24.1% | ||
| Q4 24 | 28.6% | -6.5% | ||
| Q3 24 | 24.0% | -6.6% | ||
| Q2 24 | -9.5% | -11.5% | ||
| Q1 24 | -27.5% | -26.1% |
| Q4 25 | 18.9% | -52.5% | ||
| Q3 25 | 23.1% | -12.0% | ||
| Q2 25 | 241.4% | -25.0% | ||
| Q1 25 | 12.6% | -25.4% | ||
| Q4 24 | 19.0% | -5.3% | ||
| Q3 24 | 11.8% | -6.8% | ||
| Q2 24 | -30.1% | -13.0% | ||
| Q1 24 | -357.1% | -25.5% |
| 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 | $-0.28 | — | ||
| Q1 24 | $-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 | $10.3M | $4.9M |
| Total DebtLower is stronger | $97.6M | — |
| Stockholders' EquityBook value | $-4.8M | $15.2M |
| Total Assets | $112.6M | $29.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.3M | $4.9M | ||
| Q3 25 | $12.5M | $7.6M | ||
| Q2 25 | $6.8M | $10.5M | ||
| Q1 25 | $2.9M | $14.3M | ||
| Q4 24 | $4.4M | $18.0M | ||
| Q3 24 | $5.8M | $16.1M | ||
| Q2 24 | $6.1M | $20.3M | ||
| Q1 24 | $4.0M | $17.5M |
| Q4 25 | $97.6M | — | ||
| Q3 25 | $110.5M | — | ||
| Q2 25 | $110.5M | — | ||
| Q1 25 | $110.5M | — | ||
| Q4 24 | $110.4M | — | ||
| Q3 24 | $102.4M | — | ||
| Q2 24 | $102.4M | — | ||
| Q1 24 | $102.3M | — |
| Q4 25 | $-4.8M | $15.2M | ||
| Q3 25 | $-10.4M | $22.6M | ||
| Q2 25 | $-17.3M | $24.3M | ||
| Q1 25 | $-126.1M | $27.0M | ||
| Q4 24 | $-130.3M | $30.0M | ||
| Q3 24 | $-137.5M | $30.6M | ||
| Q2 24 | $-157.2M | $30.9M | ||
| Q1 24 | $-149.6M | $33.0M |
| Q4 25 | $112.6M | $29.6M | ||
| Q3 25 | $121.4M | $40.1M | ||
| Q2 25 | $127.8M | $45.4M | ||
| Q1 25 | $114.6M | $49.8M | ||
| Q4 24 | $116.4M | $49.5M | ||
| Q3 24 | $114.2M | $52.1M | ||
| Q2 24 | $113.4M | $59.9M | ||
| Q1 24 | $120.3M | $55.7M |
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 | $13.1M | $-1.0M |
| Free Cash FlowOCF − Capex | — | $-1.0M |
| FCF MarginFCF / Revenue | — | -6.9% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | 2.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.1M | $-1.0M | ||
| Q3 25 | $12.2M | $-1.6M | ||
| Q2 25 | $10.3M | $-4.4M | ||
| Q1 25 | $3.7M | $-3.9M | ||
| Q4 24 | $-8.6M | $-9.0K | ||
| Q3 24 | $-2.3M | $-722.0K | ||
| Q2 24 | $-3.2M | $2.9M | ||
| Q1 24 | $-2.0M | $-6.0K |
| Q4 25 | — | $-1.0M | ||
| Q3 25 | — | $-1.6M | ||
| Q2 25 | — | $-4.4M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-2.4M | — | ||
| Q2 24 | — | $2.9M | ||
| Q1 24 | — | $-42.0K |
| Q4 25 | — | -6.9% | ||
| Q3 25 | — | -8.4% | ||
| Q2 25 | — | -22.7% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -7.1% | — | ||
| Q2 24 | — | 10.3% | ||
| Q1 24 | — | -0.2% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | 0.0% | 0.2% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | 0.1% | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.2% |
| 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
AREN
Segment breakdown not available.
ATER
| Sales Channel Directly To Consumer | $13.1M | 87% |
| Heating Cooling And Air Quality | $2.1M | 14% |
