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Side-by-side financial comparison of Arena Group Holdings, Inc. (AREN) and Journey Medical Corp (DERM). 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 $16.1M, roughly 1.8× Journey Medical Corp). Arena Group Holdings, Inc. runs the higher net margin — 18.9% vs -7.8%, a 26.6% gap on every dollar of revenue. On growth, Journey Medical Corp posted the faster year-over-year revenue change (27.3% vs -22.0%). Over the past eight quarters, Journey Medical Corp's revenue compounded faster (11.0% CAGR vs -1.2%).
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.
Journey Medical Corp is a commercial-stage biopharmaceutical company specializing in dermatology treatments. It develops, manufactures and markets prescription and over-the-counter products addressing acne, atopic dermatitis, fungal skin infections and other dermal conditions, primarily serving healthcare providers and patients across the United States.
AREN vs DERM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $28.2M | $16.1M |
| Net Profit | $5.3M | $-1.2M |
| Gross Margin | 43.6% | — |
| Operating Margin | 26.6% | -2.8% |
| Net Margin | 18.9% | -7.8% |
| Revenue YoY | -22.0% | 27.3% |
| Net Profit YoY | -22.5% | -182.0% |
| 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 | $16.1M | ||
| Q3 25 | $29.8M | $17.0M | ||
| Q2 25 | $45.0M | $15.0M | ||
| Q1 25 | $31.8M | $13.1M | ||
| Q4 24 | $36.2M | $12.6M | ||
| Q3 24 | $33.6M | $14.6M | ||
| Q2 24 | $27.2M | $14.9M | ||
| Q1 24 | $28.9M | $13.0M |
| Q4 25 | $5.3M | $-1.2M | ||
| Q3 25 | $6.9M | $-2.3M | ||
| Q2 25 | $108.6M | $-3.8M | ||
| Q1 25 | $4.0M | $-4.1M | ||
| Q4 24 | $6.9M | $1.5M | ||
| Q3 24 | $4.0M | $-2.4M | ||
| Q2 24 | $-8.2M | $-3.4M | ||
| Q1 24 | $-103.4M | $-10.4M |
| Q4 25 | 43.6% | — | ||
| Q3 25 | 50.2% | — | ||
| Q2 25 | 56.5% | — | ||
| Q1 25 | 49.3% | — | ||
| Q4 24 | 52.6% | 82.3% | ||
| Q3 24 | 50.6% | 63.9% | ||
| Q2 24 | 39.4% | 56.0% | ||
| Q1 24 | 30.9% | 47.7% |
| Q4 25 | 26.6% | -2.8% | ||
| Q3 25 | 31.9% | -9.0% | ||
| Q2 25 | 36.5% | -19.2% | ||
| Q1 25 | 23.1% | -25.3% | ||
| Q4 24 | 28.6% | 17.7% | ||
| Q3 24 | 24.0% | -19.8% | ||
| Q2 24 | -9.5% | -19.7% | ||
| Q1 24 | -27.5% | -77.4% |
| Q4 25 | 18.9% | -7.8% | ||
| Q3 25 | 23.1% | -13.6% | ||
| Q2 25 | 241.4% | -25.3% | ||
| Q1 25 | 12.6% | -31.0% | ||
| Q4 24 | 19.0% | 12.1% | ||
| Q3 24 | 11.8% | -16.3% | ||
| Q2 24 | -30.1% | -22.6% | ||
| Q1 24 | -357.1% | -80.1% |
| Q4 25 | $0.12 | $-0.04 | ||
| Q3 25 | $0.14 | $-0.09 | ||
| Q2 25 | $2.28 | $-0.16 | ||
| Q1 25 | $0.08 | $-0.18 | ||
| Q4 24 | $1.23 | $0.10 | ||
| Q3 24 | $0.11 | $-0.12 | ||
| Q2 24 | $-0.28 | $-0.17 | ||
| Q1 24 | $-3.91 | $-0.53 |
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 | $24.1M |
| Total DebtLower is stronger | $97.6M | $25.3M |
| Stockholders' EquityBook value | $-4.8M | $31.9M |
| Total Assets | $112.6M | $94.6M |
| Debt / EquityLower = less leverage | — | 0.79× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.3M | $24.1M | ||
| Q3 25 | $12.5M | $24.9M | ||
| Q2 25 | $6.8M | $20.3M | ||
| Q1 25 | $2.9M | $21.1M | ||
| Q4 24 | $4.4M | $20.3M | ||
| Q3 24 | $5.8M | $22.5M | ||
| Q2 24 | $6.1M | $23.9M | ||
| Q1 24 | $4.0M | $24.1M |
| Q4 25 | $97.6M | $25.3M | ||
| Q3 25 | $110.5M | $25.2M | ||
| Q2 25 | $110.5M | $25.1M | ||
| Q1 25 | $110.5M | $25.0M | ||
| Q4 24 | $110.4M | $24.9M | ||
| Q3 24 | $102.4M | $19.8M | ||
| Q2 24 | $102.4M | $19.7M | ||
| Q1 24 | $102.3M | $14.7M |
| Q4 25 | $-4.8M | $31.9M | ||
| Q3 25 | $-10.4M | $25.9M | ||
| Q2 25 | $-17.3M | $19.2M | ||
| Q1 25 | $-126.1M | $21.5M | ||
| Q4 24 | $-130.3M | $20.1M | ||
| Q3 24 | $-137.5M | $10.9M | ||
| Q2 24 | $-157.2M | $11.3M | ||
| Q1 24 | $-149.6M | $13.0M |
| Q4 25 | $112.6M | $94.6M | ||
| Q3 25 | $121.4M | $85.2M | ||
| Q2 25 | $127.8M | $81.2M | ||
| Q1 25 | $114.6M | $85.0M | ||
| Q4 24 | $116.4M | $80.2M | ||
| Q3 24 | $114.2M | $64.0M | ||
| Q2 24 | $113.4M | $65.2M | ||
| Q1 24 | $120.3M | $66.6M |
| Q4 25 | — | 0.79× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 1.30× | ||
| Q1 25 | — | 1.16× | ||
| Q4 24 | — | 1.24× | ||
| Q3 24 | — | 1.81× | ||
| Q2 24 | — | 1.75× | ||
| Q1 24 | — | 1.13× |
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 | $-6.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 2.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.1M | $-6.3M | ||
| Q3 25 | $12.2M | $-2.4M | ||
| Q2 25 | $10.3M | $-942.0K | ||
| Q1 25 | $3.7M | $-2.8M | ||
| Q4 24 | $-8.6M | $2.2M | ||
| Q3 24 | $-2.3M | $-1.2M | ||
| Q2 24 | $-3.2M | $-5.2M | ||
| Q1 24 | $-2.0M | $-5.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-2.4M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -7.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 2.46× | — | ||
| Q3 25 | 1.77× | — | ||
| Q2 25 | 0.09× | — | ||
| Q1 25 | 0.91× | — | ||
| Q4 24 | -1.25× | 1.46× | ||
| 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.
DERM
| Qbrexza | $5.5M | 35% |
| Emrosi | $5.0M | 31% |
| Accutane | $3.1M | 19% |
| Other | $2.5M | 15% |
