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Side-by-side financial comparison of Arena Group Holdings, Inc. (AREN) and SmartRent, Inc. (SMRT). Click either name above to swap in a different company.
SmartRent, Inc. is the larger business by last-quarter revenue ($36.5M vs $28.2M, roughly 1.3× Arena Group Holdings, Inc.). Arena Group Holdings, Inc. runs the higher net margin — 18.9% vs -8.9%, a 27.8% gap on every dollar of revenue. On growth, SmartRent, Inc. posted the faster year-over-year revenue change (3.1% vs -22.0%). Over the past eight quarters, Arena Group Holdings, Inc.'s revenue compounded faster (-1.2% CAGR vs -15.0%).
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.
Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. Budget is a subsidiary of the Avis Budget Group, with its operations headquartered in Parsippany, New Jersey.
AREN vs SMRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $28.2M | $36.5M |
| Net Profit | $5.3M | $-3.2M |
| Gross Margin | 43.6% | 38.6% |
| Operating Margin | 26.6% | -10.9% |
| Net Margin | 18.9% | -8.9% |
| Revenue YoY | -22.0% | 3.1% |
| Net Profit YoY | -22.5% | 71.6% |
| EPS (diluted) | $0.12 | $-0.02 |
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 | $36.5M | ||
| Q3 25 | $29.8M | $36.2M | ||
| Q2 25 | $45.0M | $38.3M | ||
| Q1 25 | $31.8M | $41.3M | ||
| Q4 24 | $36.2M | $35.4M | ||
| Q3 24 | $33.6M | $40.5M | ||
| Q2 24 | $27.2M | $48.5M | ||
| Q1 24 | $28.9M | $50.5M |
| Q4 25 | $5.3M | $-3.2M | ||
| Q3 25 | $6.9M | $-6.3M | ||
| Q2 25 | $108.6M | $-10.9M | ||
| Q1 25 | $4.0M | $-40.2M | ||
| Q4 24 | $6.9M | $-11.4M | ||
| Q3 24 | $4.0M | $-9.9M | ||
| Q2 24 | $-8.2M | $-4.6M | ||
| Q1 24 | $-103.4M | $-7.7M |
| Q4 25 | 43.6% | 38.6% | ||
| Q3 25 | 50.2% | 26.4% | ||
| Q2 25 | 56.5% | 33.1% | ||
| Q1 25 | 49.3% | 32.8% | ||
| Q4 24 | 52.6% | 28.7% | ||
| Q3 24 | 50.6% | 33.2% | ||
| Q2 24 | 39.4% | 35.7% | ||
| Q1 24 | 30.9% | 38.5% |
| Q4 25 | 26.6% | -10.9% | ||
| Q3 25 | 31.9% | -19.4% | ||
| Q2 25 | 36.5% | -30.5% | ||
| Q1 25 | 23.1% | -99.9% | ||
| Q4 24 | 28.6% | -36.6% | ||
| Q3 24 | 24.0% | -29.0% | ||
| Q2 24 | -9.5% | -14.3% | ||
| Q1 24 | -27.5% | -20.1% |
| Q4 25 | 18.9% | -8.9% | ||
| Q3 25 | 23.1% | -17.3% | ||
| Q2 25 | 241.4% | -28.3% | ||
| Q1 25 | 12.6% | -97.2% | ||
| Q4 24 | 19.0% | -32.3% | ||
| Q3 24 | 11.8% | -24.5% | ||
| Q2 24 | -30.1% | -9.5% | ||
| Q1 24 | -357.1% | -15.2% |
| Q4 25 | $0.12 | $-0.02 | ||
| Q3 25 | $0.14 | $-0.03 | ||
| Q2 25 | $2.28 | $-0.06 | ||
| Q1 25 | $0.08 | $-0.21 | ||
| Q4 24 | $1.23 | $-0.06 | ||
| Q3 24 | $0.11 | $-0.05 | ||
| Q2 24 | $-0.28 | $-0.02 | ||
| Q1 24 | $-3.91 | $-0.04 |
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 | $104.5M |
| Total DebtLower is stronger | $97.6M | — |
| Stockholders' EquityBook value | $-4.8M | $232.1M |
| Total Assets | $112.6M | $320.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.3M | $104.5M | ||
| Q3 25 | $12.5M | $100.0M | ||
| Q2 25 | $6.8M | $105.0M | ||
| Q1 25 | $2.9M | $125.6M | ||
| Q4 24 | $4.4M | $142.5M | ||
| Q3 24 | $5.8M | $163.4M | ||
| Q2 24 | $6.1M | $187.4M | ||
| Q1 24 | $4.0M | $204.7M |
| 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 | $232.1M | ||
| Q3 25 | $-10.4M | $234.4M | ||
| Q2 25 | $-17.3M | $238.8M | ||
| Q1 25 | $-126.1M | $250.7M | ||
| Q4 24 | $-130.3M | $289.4M | ||
| Q3 24 | $-137.5M | $305.1M | ||
| Q2 24 | $-157.2M | $329.4M | ||
| Q1 24 | $-149.6M | $333.1M |
| Q4 25 | $112.6M | $320.9M | ||
| Q3 25 | $121.4M | $335.8M | ||
| Q2 25 | $127.8M | $354.0M | ||
| Q1 25 | $114.6M | $366.1M | ||
| Q4 24 | $116.4M | $420.2M | ||
| Q3 24 | $114.2M | $448.6M | ||
| Q2 24 | $113.4M | $475.3M | ||
| Q1 24 | $120.3M | $485.5M |
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 | $7.7M |
| Free Cash FlowOCF − Capex | — | $7.7M |
| FCF MarginFCF / Revenue | — | 21.0% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | 2.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-25.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.1M | $7.7M | ||
| Q3 25 | $12.2M | $-2.1M | ||
| Q2 25 | $10.3M | $-14.9M | ||
| Q1 25 | $3.7M | $-12.2M | ||
| Q4 24 | $-8.6M | $-12.0M | ||
| Q3 24 | $-2.3M | $-3.7M | ||
| Q2 24 | $-3.2M | $-13.9M | ||
| Q1 24 | $-2.0M | $-3.3M |
| Q4 25 | — | $7.7M | ||
| Q3 25 | — | $-2.2M | ||
| Q2 25 | — | $-16.2M | ||
| Q1 25 | — | $-14.3M | ||
| Q4 24 | — | $-13.3M | ||
| Q3 24 | $-2.4M | $-3.9M | ||
| Q2 24 | — | $-14.1M | ||
| Q1 24 | — | $-3.4M |
| Q4 25 | — | 21.0% | ||
| Q3 25 | — | -6.1% | ||
| Q2 25 | — | -42.3% | ||
| Q1 25 | — | -34.7% | ||
| Q4 24 | — | -37.5% | ||
| Q3 24 | -7.1% | -9.7% | ||
| Q2 24 | — | -29.1% | ||
| Q1 24 | — | -6.7% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | 0.0% | 0.2% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | — | 3.5% | ||
| Q3 24 | 0.1% | 0.6% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.1% |
| 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.
Revenue Breakdown by Segment
AREN
Segment breakdown not available.
SMRT
| Hosted Services | $18.1M | 50% |
| Hardware Service | $12.5M | 34% |
| Smart Operations Solutions | $2.6M | 7% |
| Access Control | $2.0M | 5% |
| Other Smart Communities Solutions | $1.3M | 3% |
