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Side-by-side financial comparison of Arena Group Holdings, Inc. (AREN) and FRANKLIN STREET PROPERTIES CORP (FSP). 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 $26.0M, roughly 1.1× FRANKLIN STREET PROPERTIES CORP). Arena Group Holdings, Inc. runs the higher net margin — 18.9% vs -28.1%, a 47.0% gap on every dollar of revenue. On growth, FRANKLIN STREET PROPERTIES CORP posted the faster year-over-year revenue change (-8.2% vs -22.0%). Over the past eight quarters, Arena Group Holdings, Inc.'s revenue compounded faster (-1.2% CAGR vs -8.7%).
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.
Franklin Street Properties Corp is a Massachusetts-based real estate investment trust (REIT) in the United States. It primarily invests in, owns, and operates high-quality office properties across major U.S. metropolitan markets, serving corporate tenants across various industry segments, and delivers stable long-term returns via rental income and strategic asset management.
AREN vs FSP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $28.2M | $26.0M |
| Net Profit | $5.3M | $-7.3M |
| Gross Margin | 43.6% | 59.4% |
| Operating Margin | 26.6% | -27.9% |
| Net Margin | 18.9% | -28.1% |
| Revenue YoY | -22.0% | -8.2% |
| Net Profit YoY | -22.5% | 14.1% |
| EPS (diluted) | $0.12 | $-0.06 |
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 | $26.0M | ||
| Q3 25 | $29.8M | $27.3M | ||
| Q2 25 | $45.0M | $26.7M | ||
| Q1 25 | $31.8M | $27.1M | ||
| Q4 24 | $36.2M | $28.4M | ||
| Q3 24 | $33.6M | $29.7M | ||
| Q2 24 | $27.2M | $30.8M | ||
| Q1 24 | $28.9M | $31.2M |
| Q4 25 | $5.3M | $-7.3M | ||
| Q3 25 | $6.9M | $-8.3M | ||
| Q2 25 | $108.6M | $-7.9M | ||
| Q1 25 | $4.0M | $-21.4M | ||
| Q4 24 | $6.9M | $-8.5M | ||
| Q3 24 | $4.0M | $-15.6M | ||
| Q2 24 | $-8.2M | $-21.0M | ||
| Q1 24 | $-103.4M | $-7.6M |
| Q4 25 | 43.6% | 59.4% | ||
| Q3 25 | 50.2% | 60.9% | ||
| Q2 25 | 56.5% | 59.9% | ||
| Q1 25 | 49.3% | 62.8% | ||
| Q4 24 | 52.6% | 59.7% | ||
| Q3 24 | 50.6% | 61.0% | ||
| Q2 24 | 39.4% | 64.2% | ||
| Q1 24 | 30.9% | 64.7% |
| Q4 25 | 26.6% | -27.9% | ||
| Q3 25 | 31.9% | -30.5% | ||
| Q2 25 | 36.5% | -29.2% | ||
| Q1 25 | 23.1% | -78.9% | ||
| Q4 24 | 28.6% | -29.9% | ||
| Q3 24 | 24.0% | -52.4% | ||
| Q2 24 | -9.5% | -68.0% | ||
| Q1 24 | -27.5% | -24.0% |
| Q4 25 | 18.9% | -28.1% | ||
| Q3 25 | 23.1% | -30.5% | ||
| Q2 25 | 241.4% | -29.5% | ||
| Q1 25 | 12.6% | -79.1% | ||
| Q4 24 | 19.0% | -30.0% | ||
| Q3 24 | 11.8% | -52.6% | ||
| Q2 24 | -30.1% | -68.2% | ||
| Q1 24 | -357.1% | -24.2% |
| Q4 25 | $0.12 | $-0.06 | ||
| Q3 25 | $0.14 | $-0.08 | ||
| Q2 25 | $2.28 | $-0.08 | ||
| Q1 25 | $0.08 | $-0.21 | ||
| Q4 24 | $1.23 | $-0.09 | ||
| Q3 24 | $0.11 | $-0.15 | ||
| Q2 24 | $-0.28 | $-0.20 | ||
| Q1 24 | $-3.91 | $-0.07 |
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 | $30.6M |
| Total DebtLower is stronger | $97.6M | — |
| Stockholders' EquityBook value | $-4.8M | $607.0M |
| Total Assets | $112.6M | $892.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.3M | $30.6M | ||
| Q3 25 | $12.5M | $31.4M | ||
| Q2 25 | $6.8M | $29.4M | ||
| Q1 25 | $2.9M | $30.2M | ||
| Q4 24 | $4.4M | $41.1M | ||
| Q3 24 | $5.8M | $40.9M | ||
| Q2 24 | $6.1M | $30.2M | ||
| Q1 24 | $4.0M | $34.2M |
| 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 | $607.0M | ||
| Q3 25 | $-10.4M | $615.3M | ||
| Q2 25 | $-17.3M | $624.7M | ||
| Q1 25 | $-126.1M | $633.4M | ||
| Q4 24 | $-130.3M | $655.9M | ||
| Q3 24 | $-137.5M | $665.4M | ||
| Q2 24 | $-157.2M | $682.1M | ||
| Q1 24 | $-149.6M | $703.9M |
| Q4 25 | $112.6M | $892.9M | ||
| Q3 25 | $121.4M | $901.0M | ||
| Q2 25 | $127.8M | $903.2M | ||
| Q1 25 | $114.6M | $916.4M | ||
| Q4 24 | $116.4M | $946.9M | ||
| Q3 24 | $114.2M | $981.5M | ||
| Q2 24 | $113.4M | $1.0B | ||
| Q1 24 | $120.3M | $1.0B |
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 | $3.8M |
| Free Cash FlowOCF − Capex | — | $-12.7M |
| FCF MarginFCF / Revenue | — | -48.6% |
| Capex IntensityCapex / Revenue | — | 63.0% |
| Cash ConversionOCF / Net Profit | 2.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-25.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.1M | $3.8M | ||
| Q3 25 | $12.2M | $8.3M | ||
| Q2 25 | $10.3M | $-2.9M | ||
| Q1 25 | $3.7M | $-5.5M | ||
| Q4 24 | $-8.6M | $9.0M | ||
| Q3 24 | $-2.3M | $14.5M | ||
| Q2 24 | $-3.2M | $-648.0K | ||
| Q1 24 | $-2.0M | $-7.1M |
| Q4 25 | — | $-12.7M | ||
| Q3 25 | — | $3.0M | ||
| Q2 25 | — | $-5.7M | ||
| Q1 25 | — | $-9.9M | ||
| Q4 24 | — | $-16.2M | ||
| Q3 24 | $-2.4M | $8.6M | ||
| Q2 24 | — | $-5.1M | ||
| Q1 24 | — | $-15.8M |
| Q4 25 | — | -48.6% | ||
| Q3 25 | — | 11.0% | ||
| Q2 25 | — | -21.5% | ||
| Q1 25 | — | -36.7% | ||
| Q4 24 | — | -57.2% | ||
| Q3 24 | -7.1% | 29.1% | ||
| Q2 24 | — | -16.7% | ||
| Q1 24 | — | -50.8% |
| Q4 25 | — | 63.0% | ||
| Q3 25 | 0.0% | 19.4% | ||
| Q2 25 | — | 10.7% | ||
| Q1 25 | — | 16.4% | ||
| Q4 24 | — | 88.9% | ||
| Q3 24 | 0.1% | 19.6% | ||
| Q2 24 | — | 14.6% | ||
| Q1 24 | — | 28.1% |
| 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.
