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Side-by-side financial comparison of Arena Group Holdings, Inc. (AREN) and SMARTFINANCIAL INC. (SMBK). Click either name above to swap in a different company.
SMARTFINANCIAL INC. is the larger business by last-quarter revenue ($53.8M vs $28.2M, roughly 1.9× Arena Group Holdings, Inc.). SMARTFINANCIAL INC. runs the higher net margin — 25.4% vs 18.9%, a 6.5% gap on every dollar of revenue. Over the past eight quarters, SMARTFINANCIAL INC.'s revenue compounded faster (15.4% 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.
SmartFinancial Inc. is a U.S.-based bank holding company that operates its wholly owned subsidiary SmartBank. It offers a full range of retail and commercial banking products including deposit accounts, personal and business loans, mortgage services, and wealth management solutions, primarily serving individual customers and small-to-medium enterprises across the Southeastern United States.
AREN vs SMBK — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $28.2M | $53.8M |
| Net Profit | $5.3M | $13.7M |
| Gross Margin | 43.6% | — |
| Operating Margin | 26.6% | — |
| Net Margin | 18.9% | 25.4% |
| Revenue YoY | -22.0% | — |
| Net Profit YoY | -22.5% | 21.6% |
| EPS (diluted) | $0.12 | $0.81 |
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 | — | $53.8M | ||
| Q4 25 | $28.2M | $53.3M | ||
| Q3 25 | $29.8M | $51.1M | ||
| Q2 25 | $45.0M | $49.2M | ||
| Q1 25 | $31.8M | $46.8M | ||
| Q4 24 | $36.2M | $46.8M | ||
| Q3 24 | $33.6M | $44.2M | ||
| Q2 24 | $27.2M | $40.4M |
| Q1 26 | — | $13.7M | ||
| Q4 25 | $5.3M | $13.7M | ||
| Q3 25 | $6.9M | $13.7M | ||
| Q2 25 | $108.6M | $11.7M | ||
| Q1 25 | $4.0M | $11.3M | ||
| Q4 24 | $6.9M | $9.6M | ||
| Q3 24 | $4.0M | $9.1M | ||
| Q2 24 | $-8.2M | $8.0M |
| 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% | 31.3% | ||
| Q3 25 | 31.9% | 33.2% | ||
| Q2 25 | 36.5% | 29.0% | ||
| Q1 25 | 23.1% | 29.0% | ||
| Q4 24 | 28.6% | 26.5% | ||
| Q3 24 | 24.0% | 24.3% | ||
| Q2 24 | -9.5% | 25.6% |
| Q1 26 | — | 25.4% | ||
| Q4 25 | 18.9% | 25.7% | ||
| Q3 25 | 23.1% | 26.8% | ||
| Q2 25 | 241.4% | 23.8% | ||
| Q1 25 | 12.6% | 24.0% | ||
| Q4 24 | 19.0% | 20.6% | ||
| Q3 24 | 11.8% | 20.7% | ||
| Q2 24 | -30.1% | 19.8% |
| Q1 26 | — | $0.81 | ||
| Q4 25 | $0.12 | $0.81 | ||
| Q3 25 | $0.14 | $0.81 | ||
| Q2 25 | $2.28 | $0.69 | ||
| Q1 25 | $0.08 | $0.67 | ||
| Q4 24 | $1.23 | $0.57 | ||
| Q3 24 | $0.11 | $0.54 | ||
| Q2 24 | $-0.28 | $0.48 |
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 | $346.1M |
| Total DebtLower is stronger | $97.6M | — |
| Stockholders' EquityBook value | $-4.8M | $562.2M |
| Total Assets | $112.6M | $5.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $346.1M | ||
| Q4 25 | $10.3M | $464.4M | ||
| Q3 25 | $12.5M | $557.1M | ||
| Q2 25 | $6.8M | $365.1M | ||
| Q1 25 | $2.9M | $423.0M | ||
| Q4 24 | $4.4M | $387.6M | ||
| Q3 24 | $5.8M | $192.9M | ||
| Q2 24 | $6.1M | $342.8M |
| Q1 26 | — | — | ||
| Q4 25 | $97.6M | — | ||
| Q3 25 | $110.5M | $1.3M | ||
| Q2 25 | $110.5M | $7.0M | ||
| Q1 25 | $110.5M | $7.6M | ||
| Q4 24 | $110.4M | $8.1M | ||
| Q3 24 | $102.4M | $9.0M | ||
| Q2 24 | $102.4M | $12.7M |
| Q1 26 | — | $562.2M | ||
| Q4 25 | $-4.8M | $552.4M | ||
| Q3 25 | $-10.4M | $538.4M | ||
| Q2 25 | $-17.3M | $519.0M | ||
| Q1 25 | $-126.1M | $505.8M | ||
| Q4 24 | $-130.3M | $491.3M | ||
| Q3 24 | $-137.5M | $489.0M | ||
| Q2 24 | $-157.2M | $472.5M |
| Q1 26 | — | $5.9B | ||
| Q4 25 | $112.6M | $5.9B | ||
| Q3 25 | $121.4M | $5.8B | ||
| Q2 25 | $127.8M | $5.5B | ||
| Q1 25 | $114.6M | $5.4B | ||
| Q4 24 | $116.4M | $5.3B | ||
| Q3 24 | $114.2M | $4.9B | ||
| Q2 24 | $113.4M | $4.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.01× | ||
| Q1 25 | — | 0.02× | ||
| Q4 24 | — | 0.02× | ||
| Q3 24 | — | 0.02× | ||
| Q2 24 | — | 0.03× |
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 | $61.7M | ||
| Q3 25 | $12.2M | $16.9M | ||
| Q2 25 | $10.3M | $14.0M | ||
| Q1 25 | $3.7M | $14.3M | ||
| Q4 24 | $-8.6M | $52.7M | ||
| Q3 24 | $-2.3M | $12.4M | ||
| Q2 24 | $-3.2M | $16.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $59.3M | ||
| Q3 25 | — | $16.6M | ||
| Q2 25 | — | $13.2M | ||
| Q1 25 | — | $13.4M | ||
| Q4 24 | — | $46.3M | ||
| Q3 24 | $-2.4M | $11.3M | ||
| Q2 24 | — | $15.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 111.3% | ||
| Q3 25 | — | 32.4% | ||
| Q2 25 | — | 26.9% | ||
| Q1 25 | — | 28.5% | ||
| Q4 24 | — | 98.9% | ||
| Q3 24 | -7.1% | 25.7% | ||
| Q2 24 | — | 38.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.5% | ||
| Q3 25 | 0.0% | 0.6% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 13.7% | ||
| Q3 24 | 0.1% | 2.4% | ||
| Q2 24 | — | 2.7% |
| Q1 26 | — | — | ||
| Q4 25 | 2.46× | 4.50× | ||
| Q3 25 | 1.77× | 1.23× | ||
| Q2 25 | 0.09× | 1.20× | ||
| Q1 25 | 0.91× | 1.27× | ||
| Q4 24 | -1.25× | 5.47× | ||
| Q3 24 | -0.59× | 1.36× | ||
| Q2 24 | — | 2.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AREN
Segment breakdown not available.
SMBK
| Net Interest Income | $45.9M | 85% |
| Noninterest Income | $7.9M | 15% |
