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Side-by-side financial comparison of Arena Group Holdings, Inc. (AREN) and Finwise Bancorp (FINW). Click either name above to swap in a different company.
Finwise Bancorp is the larger business by last-quarter revenue ($42.7M vs $28.2M, roughly 1.5× Arena Group Holdings, Inc.). Arena Group Holdings, Inc. runs the higher net margin — 18.9% vs 6.4%, a 12.5% gap on every dollar of revenue. Over the past eight quarters, Finwise Bancorp's revenue compounded faster (47.0% 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.
Finwise Bancorp is a U.S.-based financial holding company that operates primarily through its community banking subsidiary. It offers a full suite of retail and commercial financial services, including deposit accounts, personal loans, mortgage products, small business financing, and wealth management solutions, serving local retail consumers and small to medium-sized business clients across its regional operating markets.
AREN vs FINW — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $28.2M | $42.7M |
| Net Profit | $5.3M | $2.7M |
| Gross Margin | 43.6% | — |
| Operating Margin | 26.6% | — |
| Net Margin | 18.9% | 6.4% |
| Revenue YoY | -22.0% | — |
| Net Profit YoY | -22.5% | — |
| EPS (diluted) | $0.12 | $0.20 |
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.
| Q1 26 | — | $42.7M | ||
| Q4 25 | $28.2M | $46.9M | ||
| Q3 25 | $29.8M | $36.7M | ||
| Q2 25 | $45.0M | $25.1M | ||
| Q1 25 | $31.8M | $22.1M | ||
| Q4 24 | $36.2M | $21.1M | ||
| Q3 24 | $33.6M | $20.8M | ||
| Q2 24 | $27.2M | $19.8M |
| Q1 26 | — | $2.7M | ||
| Q4 25 | $5.3M | $3.9M | ||
| Q3 25 | $6.9M | $4.9M | ||
| Q2 25 | $108.6M | $4.1M | ||
| Q1 25 | $4.0M | $3.2M | ||
| Q4 24 | $6.9M | $2.8M | ||
| Q3 24 | $4.0M | $3.5M | ||
| Q2 24 | $-8.2M | $3.2M |
| Q1 26 | — | — | ||
| Q4 25 | 43.6% | — | ||
| Q3 25 | 50.2% | — | ||
| Q2 25 | 56.5% | — | ||
| Q1 25 | 49.3% | — | ||
| Q4 24 | 52.6% | — | ||
| Q3 24 | 50.6% | — | ||
| Q2 24 | 39.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | 26.6% | 11.7% | ||
| Q3 25 | 31.9% | 17.5% | ||
| Q2 25 | 36.5% | 21.7% | ||
| Q1 25 | 23.1% | 20.1% | ||
| Q4 24 | 28.6% | 17.5% | ||
| Q3 24 | 24.0% | 22.2% | ||
| Q2 24 | -9.5% | 21.1% |
| Q1 26 | — | 6.4% | ||
| Q4 25 | 18.9% | 8.4% | ||
| Q3 25 | 23.1% | 13.3% | ||
| Q2 25 | 241.4% | 16.3% | ||
| Q1 25 | 12.6% | 14.4% | ||
| Q4 24 | 19.0% | 13.2% | ||
| Q3 24 | 11.8% | 16.6% | ||
| Q2 24 | -30.1% | 16.1% |
| Q1 26 | — | $0.20 | ||
| Q4 25 | $0.12 | $0.27 | ||
| Q3 25 | $0.14 | $0.34 | ||
| Q2 25 | $2.28 | $0.29 | ||
| Q1 25 | $0.08 | $0.23 | ||
| Q4 24 | $1.23 | $0.19 | ||
| Q3 24 | $0.11 | $0.25 | ||
| Q2 24 | $-0.28 | $0.24 |
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 | — |
| Total DebtLower is stronger | $97.6M | — |
| Stockholders' EquityBook value | $-4.8M | $196.6M |
| Total Assets | $112.6M | $899.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $10.3M | $163.4M | ||
| Q3 25 | $12.5M | $105.6M | ||
| Q2 25 | $6.8M | $90.1M | ||
| Q1 25 | $2.9M | $120.3M | ||
| Q4 24 | $4.4M | $109.2M | ||
| Q3 24 | $5.8M | $85.8M | ||
| Q2 24 | $6.1M | $89.0M |
| Q1 26 | — | — | ||
| 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 26 | — | $196.6M | ||
| Q4 25 | $-4.8M | $193.2M | ||
| Q3 25 | $-10.4M | $187.8M | ||
| Q2 25 | $-17.3M | $182.0M | ||
| Q1 25 | $-126.1M | $177.4M | ||
| Q4 24 | $-130.3M | $173.7M | ||
| Q3 24 | $-137.5M | $170.4M | ||
| Q2 24 | $-157.2M | $165.8M |
| Q1 26 | — | $899.4M | ||
| Q4 25 | $112.6M | $977.1M | ||
| Q3 25 | $121.4M | $899.9M | ||
| Q2 25 | $127.8M | $842.5M | ||
| Q1 25 | $114.6M | $804.1M | ||
| Q4 24 | $116.4M | $746.0M | ||
| Q3 24 | $114.2M | $683.0M | ||
| Q2 24 | $113.4M | $617.8M |
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 | — |
| 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.
| Q1 26 | — | — | ||
| Q4 25 | $13.1M | $-28.4M | ||
| Q3 25 | $12.2M | $3.5M | ||
| Q2 25 | $10.3M | $-18.3M | ||
| Q1 25 | $3.7M | $-21.6M | ||
| Q4 24 | $-8.6M | $-15.0M | ||
| Q3 24 | $-2.3M | $-9.8M | ||
| Q2 24 | $-3.2M | $-7.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-28.6M | ||
| Q3 25 | — | $3.4M | ||
| Q2 25 | — | $-19.8M | ||
| Q1 25 | — | $-23.3M | ||
| Q4 24 | — | $-16.1M | ||
| Q3 24 | $-2.4M | $-13.4M | ||
| Q2 24 | — | $-7.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | -61.1% | ||
| Q3 25 | — | 9.4% | ||
| Q2 25 | — | -79.0% | ||
| Q1 25 | — | -105.3% | ||
| Q4 24 | — | -76.0% | ||
| Q3 24 | -7.1% | -64.3% | ||
| Q2 24 | — | -38.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.5% | ||
| Q3 25 | 0.0% | 0.1% | ||
| Q2 25 | — | 5.8% | ||
| Q1 25 | — | 7.4% | ||
| Q4 24 | — | 5.1% | ||
| Q3 24 | 0.1% | 17.2% | ||
| Q2 24 | — | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.46× | -7.26× | ||
| Q3 25 | 1.77× | 0.71× | ||
| Q2 25 | 0.09× | -4.48× | ||
| Q1 25 | 0.91× | -6.78× | ||
| Q4 24 | -1.25× | -5.37× | ||
| Q3 24 | -0.59× | -2.84× | ||
| Q2 24 | — | -2.39× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AREN
Segment breakdown not available.
FINW
| Net Interest Income | $28.1M | 66% |
| Noninterest Income | $14.6M | 34% |
