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Side-by-side financial comparison of Arena Group Holdings, Inc. (AREN) and Clearfield, Inc. (CLFD). Click either name above to swap in a different company.
Clearfield, Inc. is the larger business by last-quarter revenue ($34.3M vs $28.2M, roughly 1.2× Arena Group Holdings, Inc.). Arena Group Holdings, Inc. runs the higher net margin — 18.9% vs -1.8%, a 20.7% gap on every dollar of revenue. On growth, Clearfield, Inc. posted the faster year-over-year revenue change (-3.2% vs -22.0%). Over the past eight quarters, Arena Group Holdings, Inc.'s revenue compounded faster (-1.2% CAGR vs -3.5%).
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.
Clearfield, Inc. is a company headquartered in Minneapolis, Minnesota. The company produces fiber optic products.
AREN vs CLFD — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $28.2M | $34.3M |
| Net Profit | $5.3M | $-614.0K |
| Gross Margin | 43.6% | 33.2% |
| Operating Margin | 26.6% | -5.3% |
| Net Margin | 18.9% | -1.8% |
| Revenue YoY | -22.0% | -3.2% |
| Net Profit YoY | -22.5% | 67.8% |
| EPS (diluted) | $0.12 | $-0.04 |
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 | $34.3M | ||
| Q3 25 | $29.8M | $23.4M | ||
| Q2 25 | $45.0M | $49.9M | ||
| Q1 25 | $31.8M | $47.2M | ||
| Q4 24 | $36.2M | $29.7M | ||
| Q3 24 | $33.6M | $5.6M | ||
| Q2 24 | $27.2M | $48.8M | ||
| Q1 24 | $28.9M | $36.9M |
| Q4 25 | $5.3M | $-614.0K | ||
| Q3 25 | $6.9M | $-9.1M | ||
| Q2 25 | $108.6M | $1.6M | ||
| Q1 25 | $4.0M | $1.3M | ||
| Q4 24 | $6.9M | $-1.9M | ||
| Q3 24 | $4.0M | — | ||
| Q2 24 | $-8.2M | $-447.0K | ||
| Q1 24 | $-103.4M | $-5.9M |
| Q4 25 | 43.6% | 33.2% | ||
| Q3 25 | 50.2% | 53.2% | ||
| Q2 25 | 56.5% | 30.5% | ||
| Q1 25 | 49.3% | 30.1% | ||
| Q4 24 | 52.6% | 29.2% | ||
| Q3 24 | 50.6% | — | ||
| Q2 24 | 39.4% | 21.9% | ||
| Q1 24 | 30.9% | 7.7% |
| Q4 25 | 26.6% | -5.3% | ||
| Q3 25 | 31.9% | 10.3% | ||
| Q2 25 | 36.5% | 3.0% | ||
| Q1 25 | 23.1% | 0.6% | ||
| Q4 24 | 28.6% | -6.9% | ||
| Q3 24 | 24.0% | — | ||
| Q2 24 | -9.5% | -4.7% | ||
| Q1 24 | -27.5% | -26.4% |
| Q4 25 | 18.9% | -1.8% | ||
| Q3 25 | 23.1% | -38.8% | ||
| Q2 25 | 241.4% | 3.2% | ||
| Q1 25 | 12.6% | 2.8% | ||
| Q4 24 | 19.0% | -6.4% | ||
| Q3 24 | 11.8% | — | ||
| Q2 24 | -30.1% | -0.9% | ||
| Q1 24 | -357.1% | -16.0% |
| Q4 25 | $0.12 | $-0.04 | ||
| Q3 25 | $0.14 | $-0.65 | ||
| Q2 25 | $2.28 | $0.11 | ||
| Q1 25 | $0.08 | $0.09 | ||
| Q4 24 | $1.23 | $-0.13 | ||
| Q3 24 | $0.11 | — | ||
| Q2 24 | $-0.28 | $-0.04 | ||
| Q1 24 | $-3.91 | $-0.40 |
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 | $96.4M |
| Total DebtLower is stronger | $97.6M | — |
| Stockholders' EquityBook value | $-4.8M | $249.7M |
| Total Assets | $112.6M | $268.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.3M | $96.4M | ||
| Q3 25 | $12.5M | $106.0M | ||
| Q2 25 | $6.8M | $117.2M | ||
| Q1 25 | $2.9M | $112.0M | ||
| Q4 24 | $4.4M | $113.0M | ||
| Q3 24 | $5.8M | $129.0M | ||
| Q2 24 | $6.1M | $123.8M | ||
| Q1 24 | $4.0M | $142.9M |
| Q4 25 | $97.6M | — | ||
| Q3 25 | $110.5M | — | ||
| Q2 25 | $110.5M | — | ||
| Q1 25 | $110.5M | — | ||
| Q4 24 | $110.4M | — | ||
| Q3 24 | $102.4M | $2.2M | ||
| Q2 24 | $102.4M | $2.1M | ||
| Q1 24 | $102.3M | — |
| Q4 25 | $-4.8M | $249.7M | ||
| Q3 25 | $-10.4M | $256.2M | ||
| Q2 25 | $-17.3M | $264.5M | ||
| Q1 25 | $-126.1M | $265.9M | ||
| Q4 24 | $-130.3M | $267.4M | ||
| Q3 24 | $-137.5M | $275.8M | ||
| Q2 24 | $-157.2M | $274.6M | ||
| Q1 24 | $-149.6M | $279.2M |
| Q4 25 | $112.6M | $268.1M | ||
| Q3 25 | $121.4M | $306.2M | ||
| Q2 25 | $127.8M | $314.7M | ||
| Q1 25 | $114.6M | $310.9M | ||
| Q4 24 | $116.4M | $303.2M | ||
| Q3 24 | $114.2M | $315.3M | ||
| Q2 24 | $113.4M | $318.1M | ||
| Q1 24 | $120.3M | $315.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.01× | ||
| Q2 24 | — | 0.01× | ||
| 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 | $13.1M | $-1.4M |
| Free Cash FlowOCF − Capex | — | $-2.4M |
| FCF MarginFCF / Revenue | — | -7.1% |
| Capex IntensityCapex / Revenue | — | 2.9% |
| Cash ConversionOCF / Net Profit | 2.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.1M | $-1.4M | ||
| Q3 25 | $12.2M | — | ||
| Q2 25 | $10.3M | $7.9M | ||
| Q1 25 | $3.7M | $3.0M | ||
| Q4 24 | $-8.6M | $7.2M | ||
| Q3 24 | $-2.3M | $22.2M | ||
| Q2 24 | $-3.2M | $4.0M | ||
| Q1 24 | $-2.0M | $-5.7M |
| Q4 25 | — | $-2.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $7.5M | ||
| Q1 25 | — | $654.0K | ||
| Q4 24 | — | $5.1M | ||
| Q3 24 | $-2.4M | $18.2M | ||
| Q2 24 | — | $2.8M | ||
| Q1 24 | — | $-7.7M |
| Q4 25 | — | -7.1% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 15.1% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | — | 17.1% | ||
| Q3 24 | -7.1% | 323.0% | ||
| Q2 24 | — | 5.8% | ||
| Q1 24 | — | -20.8% |
| Q4 25 | — | 2.9% | ||
| Q3 25 | 0.0% | 2.0% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 5.1% | ||
| Q4 24 | — | 7.0% | ||
| Q3 24 | 0.1% | 71.4% | ||
| Q2 24 | — | 2.5% | ||
| Q1 24 | — | 5.3% |
| Q4 25 | 2.46× | — | ||
| Q3 25 | 1.77× | — | ||
| Q2 25 | 0.09× | 4.93× | ||
| Q1 25 | 0.91× | 2.30× | ||
| 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.
