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Side-by-side financial comparison of Arena Group Holdings, Inc. (AREN) and ROCKWELL MEDICAL, INC. (RMTI). 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 $18.3M, roughly 1.5× ROCKWELL MEDICAL, INC.). Arena Group Holdings, Inc. runs the higher net margin — 18.9% vs -3.0%, a 21.9% gap on every dollar of revenue. On growth, Arena Group Holdings, Inc. posted the faster year-over-year revenue change (-22.0% vs -25.6%). Over the past eight quarters, Arena Group Holdings, Inc.'s revenue compounded faster (-1.2% CAGR vs -10.1%).
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.
Rockwell Medical Inc. is a publicly traded pharmaceutical company based in Wixom, Michigan and founded in 1996 that focuses on development and commercialization of treatments against diseases such as end-stage renal disease (ESRD) and chronic kidney disease (CKD).
AREN vs RMTI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $28.2M | $18.3M |
| Net Profit | $5.3M | $-554.0K |
| Gross Margin | 43.6% | 21.1% |
| Operating Margin | 26.6% | -2.2% |
| Net Margin | 18.9% | -3.0% |
| Revenue YoY | -22.0% | -25.6% |
| Net Profit YoY | -22.5% | 26.7% |
| EPS (diluted) | $0.12 | $-0.01 |
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 | $18.3M | ||
| Q3 25 | $29.8M | $15.9M | ||
| Q2 25 | $45.0M | $16.1M | ||
| Q1 25 | $31.8M | $18.9M | ||
| Q4 24 | $36.2M | $24.7M | ||
| Q3 24 | $33.6M | $28.3M | ||
| Q2 24 | $27.2M | $25.8M | ||
| Q1 24 | $28.9M | $22.7M |
| Q4 25 | $5.3M | $-554.0K | ||
| Q3 25 | $6.9M | $-1.8M | ||
| Q2 25 | $108.6M | $-1.5M | ||
| Q1 25 | $4.0M | $-1.5M | ||
| Q4 24 | $6.9M | $-756.0K | ||
| Q3 24 | $4.0M | $1.7M | ||
| Q2 24 | $-8.2M | $343.0K | ||
| Q1 24 | $-103.4M | $-1.7M |
| Q4 25 | 43.6% | 21.1% | ||
| Q3 25 | 50.2% | 14.3% | ||
| Q2 25 | 56.5% | 15.6% | ||
| Q1 25 | 49.3% | 16.1% | ||
| Q4 24 | 52.6% | 14.7% | ||
| Q3 24 | 50.6% | 22.0% | ||
| Q2 24 | 39.4% | 17.6% | ||
| Q1 24 | 30.9% | 13.5% |
| Q4 25 | 26.6% | -2.2% | ||
| Q3 25 | 31.9% | -9.9% | ||
| Q2 25 | 36.5% | -8.4% | ||
| Q1 25 | 23.1% | -7.2% | ||
| Q4 24 | 28.6% | -2.1% | ||
| Q3 24 | 24.0% | 6.8% | ||
| Q2 24 | -9.5% | 2.0% | ||
| Q1 24 | -27.5% | -5.8% |
| Q4 25 | 18.9% | -3.0% | ||
| Q3 25 | 23.1% | -11.0% | ||
| Q2 25 | 241.4% | -9.3% | ||
| Q1 25 | 12.6% | -8.0% | ||
| Q4 24 | 19.0% | -3.1% | ||
| Q3 24 | 11.8% | 5.9% | ||
| Q2 24 | -30.1% | 1.3% | ||
| Q1 24 | -357.1% | -7.6% |
| Q4 25 | $0.12 | $-0.01 | ||
| Q3 25 | $0.14 | $-0.05 | ||
| Q2 25 | $2.28 | $-0.05 | ||
| Q1 25 | $0.08 | $-0.04 | ||
| Q4 24 | $1.23 | $-0.02 | ||
| Q3 24 | $0.11 | $0.04 | ||
| Q2 24 | $-0.28 | $0.01 | ||
| Q1 24 | $-3.91 | $-0.06 |
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 | $10.7M |
| Total DebtLower is stronger | $97.6M | — |
| Stockholders' EquityBook value | $-4.8M | $37.0M |
| Total Assets | $112.6M | $57.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.3M | $10.7M | ||
| Q3 25 | $12.5M | $13.6M | ||
| Q2 25 | $6.8M | $12.5M | ||
| Q1 25 | $2.9M | $11.4M | ||
| Q4 24 | $4.4M | $15.7M | ||
| Q3 24 | $5.8M | $12.3M | ||
| Q2 24 | $6.1M | $11.9M | ||
| Q1 24 | $4.0M | $6.6M |
| 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 | $37.0M | ||
| Q3 25 | $-10.4M | $37.0M | ||
| Q2 25 | $-17.3M | $30.4M | ||
| Q1 25 | $-126.1M | $31.5M | ||
| Q4 24 | $-130.3M | $32.6M | ||
| Q3 24 | $-137.5M | $29.1M | ||
| Q2 24 | $-157.2M | $23.5M | ||
| Q1 24 | $-149.6M | $20.6M |
| Q4 25 | $112.6M | $57.1M | ||
| Q3 25 | $121.4M | $57.5M | ||
| Q2 25 | $127.8M | $52.6M | ||
| Q1 25 | $114.6M | $54.0M | ||
| Q4 24 | $116.4M | $59.2M | ||
| Q3 24 | $114.2M | $57.1M | ||
| Q2 24 | $113.4M | $53.0M | ||
| Q1 24 | $120.3M | $50.7M |
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 | $2.3M |
| Free Cash FlowOCF − Capex | — | $2.2M |
| FCF MarginFCF / Revenue | — | 12.0% |
| Capex IntensityCapex / Revenue | — | 0.5% |
| Cash ConversionOCF / Net Profit | 2.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-1.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.1M | $2.3M | ||
| Q3 25 | $12.2M | $-1.3M | ||
| Q2 25 | $10.3M | $1.8M | ||
| Q1 25 | $3.7M | $-3.5M | ||
| Q4 24 | $-8.6M | $865.0K | ||
| Q3 24 | $-2.3M | $4.3M | ||
| Q2 24 | $-3.2M | $1.4M | ||
| Q1 24 | $-2.0M | $-2.4M |
| Q4 25 | — | $2.2M | ||
| Q3 25 | — | $-1.5M | ||
| Q2 25 | — | $1.7M | ||
| Q1 25 | — | $-3.5M | ||
| Q4 24 | — | $470.0K | ||
| Q3 24 | $-2.4M | $4.1M | ||
| Q2 24 | — | $1.2M | ||
| Q1 24 | — | $-2.5M |
| Q4 25 | — | 12.0% | ||
| Q3 25 | — | -9.6% | ||
| Q2 25 | — | 10.5% | ||
| Q1 25 | — | -18.8% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | -7.1% | 14.4% | ||
| Q2 24 | — | 4.5% | ||
| Q1 24 | — | -11.1% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | 0.0% | 1.4% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | 0.1% | 0.7% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | — | 0.6% |
| Q4 25 | 2.46× | — | ||
| Q3 25 | 1.77× | — | ||
| Q2 25 | 0.09× | — | ||
| Q1 25 | 0.91× | — | ||
| Q4 24 | -1.25× | — | ||
| Q3 24 | -0.59× | 2.57× | ||
| Q2 24 | — | 4.20× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AREN
Segment breakdown not available.
RMTI
| US | $15.9M | 87% |
| Non Us | $2.4M | 13% |
