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Side-by-side financial comparison of Arena Group Holdings, Inc. (AREN) and Primis Financial Corp. (FRST). Click either name above to swap in a different company.
Primis Financial Corp. is the larger business by last-quarter revenue ($45.6M vs $28.2M, roughly 1.6× Arena Group Holdings, Inc.). Arena Group Holdings, Inc. runs the higher net margin — 18.9% vs 16.0%, a 2.9% gap on every dollar of revenue. Over the past eight quarters, Primis Financial Corp.'s revenue compounded faster (13.0% 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.
Primis Financial Corp is a U.S.-based financial holding company operating full-service banking subsidiaries. It provides a comprehensive range of financial solutions including personal and commercial deposit products, diverse loan facilities, mortgage services, and wealth management support, primarily serving retail and corporate customers across the U.S. mid-Atlantic region.
AREN vs FRST — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $28.2M | $45.6M |
| Net Profit | $5.3M | $7.3M |
| Gross Margin | 43.6% | — |
| Operating Margin | 26.6% | — |
| Net Margin | 18.9% | 16.0% |
| Revenue YoY | -22.0% | — |
| Net Profit YoY | -22.5% | 200.0% |
| EPS (diluted) | $0.12 | $0.30 |
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 | — | $45.6M | ||
| Q4 25 | $28.2M | $80.9M | ||
| Q3 25 | $29.8M | $41.0M | ||
| Q2 25 | $45.0M | $43.2M | ||
| Q1 25 | $31.8M | $58.7M | ||
| Q4 24 | $36.2M | $38.8M | ||
| Q3 24 | $33.6M | $37.3M | ||
| Q2 24 | $27.2M | $35.7M |
| Q1 26 | — | $7.3M | ||
| Q4 25 | $5.3M | $29.5M | ||
| Q3 25 | $6.9M | $6.8M | ||
| Q2 25 | $108.6M | $2.4M | ||
| Q1 25 | $4.0M | $22.6M | ||
| Q4 24 | $6.9M | $-26.2M | ||
| Q3 24 | $4.0M | $1.2M | ||
| Q2 24 | $-8.2M | $3.4M |
| 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% | 44.8% | ||
| Q3 25 | 31.9% | 21.3% | ||
| Q2 25 | 36.5% | 6.9% | ||
| Q1 25 | 23.1% | 41.9% | ||
| Q4 24 | 28.6% | -123.0% | ||
| Q3 24 | 24.0% | -3.1% | ||
| Q2 24 | -9.5% | 7.8% |
| Q1 26 | — | 16.0% | ||
| Q4 25 | 18.9% | 36.5% | ||
| Q3 25 | 23.1% | 16.7% | ||
| Q2 25 | 241.4% | 5.6% | ||
| Q1 25 | 12.6% | 38.6% | ||
| Q4 24 | 19.0% | -100.3% | ||
| Q3 24 | 11.8% | 3.3% | ||
| Q2 24 | -30.1% | 9.6% |
| Q1 26 | — | $0.30 | ||
| Q4 25 | $0.12 | $1.19 | ||
| Q3 25 | $0.14 | $0.28 | ||
| Q2 25 | $2.28 | $0.10 | ||
| Q1 25 | $0.08 | $0.92 | ||
| Q4 24 | $1.23 | $-0.95 | ||
| Q3 24 | $0.11 | $0.05 | ||
| Q2 24 | $-0.28 | $0.14 |
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 | $159.9M |
| Total DebtLower is stronger | $97.6M | — |
| Stockholders' EquityBook value | $-4.8M | $427.2M |
| Total Assets | $112.6M | $4.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $159.9M | ||
| Q4 25 | $10.3M | $143.6M | ||
| Q3 25 | $12.5M | $63.9M | ||
| Q2 25 | $6.8M | $94.1M | ||
| Q1 25 | $2.9M | $57.0M | ||
| Q4 24 | $4.4M | $64.5M | ||
| Q3 24 | $5.8M | $77.3M | ||
| Q2 24 | $6.1M | $66.6M |
| 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 | — | $427.2M | ||
| Q4 25 | $-4.8M | $422.9M | ||
| Q3 25 | $-10.4M | $382.2M | ||
| Q2 25 | $-17.3M | $376.4M | ||
| Q1 25 | $-126.1M | $375.6M | ||
| Q4 24 | $-130.3M | $351.8M | ||
| Q3 24 | $-137.5M | $381.0M | ||
| Q2 24 | $-157.2M | $376.0M |
| Q1 26 | — | $4.3B | ||
| Q4 25 | $112.6M | $4.0B | ||
| Q3 25 | $121.4M | $4.0B | ||
| Q2 25 | $127.8M | $3.9B | ||
| Q1 25 | $114.6M | $3.7B | ||
| Q4 24 | $116.4M | $3.7B | ||
| Q3 24 | $114.2M | $4.0B | ||
| Q2 24 | $113.4M | $4.0B |
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 | $10.8M | ||
| Q3 25 | $12.2M | $-11.4M | ||
| Q2 25 | $10.3M | $-41.0M | ||
| Q1 25 | $3.7M | $34.4M | ||
| Q4 24 | $-8.6M | $19.5M | ||
| Q3 24 | $-2.3M | $6.1M | ||
| Q2 24 | $-3.2M | $52.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $9.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $18.3M | ||
| Q3 24 | $-2.4M | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 11.2% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 47.3% | ||
| Q3 24 | -7.1% | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.1% | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | 0.1% | 0.0% | ||
| Q2 24 | — | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | 2.46× | 0.36× | ||
| Q3 25 | 1.77× | -1.67× | ||
| Q2 25 | 0.09× | -16.82× | ||
| Q1 25 | 0.91× | 1.52× | ||
| Q4 24 | -1.25× | — | ||
| Q3 24 | -0.59× | 4.93× | ||
| Q2 24 | — | 15.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AREN
Segment breakdown not available.
FRST
| Net Interest Income | $32.1M | 70% |
| Noninterest Income | $13.6M | 30% |
