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Side-by-side financial comparison of Arena Group Holdings, Inc. (AREN) and STEM, INC. (STEM). Click either name above to swap in a different company.
STEM, INC. is the larger business by last-quarter revenue ($47.1M vs $28.2M, roughly 1.7× Arena Group Holdings, Inc.). Arena Group Holdings, Inc. runs the higher net margin — 18.9% vs -33.9%, a 52.8% gap on every dollar of revenue. On growth, STEM, INC. posted the faster year-over-year revenue change (-15.6% vs -22.0%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% 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.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
AREN vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $28.2M | $47.1M |
| Net Profit | $5.3M | $-16.0M |
| Gross Margin | 43.6% | 48.9% |
| Operating Margin | 26.6% | -17.7% |
| Net Margin | 18.9% | -33.9% |
| Revenue YoY | -22.0% | -15.6% |
| Net Profit YoY | -22.5% | 68.8% |
| EPS (diluted) | $0.12 | $-4.40 |
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 | $47.1M | ||
| Q3 25 | $29.8M | $38.2M | ||
| Q2 25 | $45.0M | $38.4M | ||
| Q1 25 | $31.8M | $32.5M | ||
| Q4 24 | $36.2M | $55.8M | ||
| Q3 24 | $33.6M | $29.3M | ||
| Q2 24 | $27.2M | $34.0M | ||
| Q1 24 | $28.9M | $25.5M |
| Q4 25 | $5.3M | $-16.0M | ||
| Q3 25 | $6.9M | $-23.8M | ||
| Q2 25 | $108.6M | $202.5M | ||
| Q1 25 | $4.0M | $-25.0M | ||
| Q4 24 | $6.9M | $-51.1M | ||
| Q3 24 | $4.0M | $-148.3M | ||
| Q2 24 | $-8.2M | $-582.3M | ||
| Q1 24 | $-103.4M | $-72.3M |
| Q4 25 | 43.6% | 48.9% | ||
| Q3 25 | 50.2% | 35.5% | ||
| Q2 25 | 56.5% | 33.4% | ||
| Q1 25 | 49.3% | 32.4% | ||
| Q4 24 | 52.6% | -4.4% | ||
| Q3 24 | 50.6% | 21.2% | ||
| Q2 24 | 39.4% | 27.6% | ||
| Q1 24 | 30.9% | -95.0% |
| Q4 25 | 26.6% | -17.7% | ||
| Q3 25 | 31.9% | -33.6% | ||
| Q2 25 | 36.5% | -34.8% | ||
| Q1 25 | 23.1% | -65.0% | ||
| Q4 24 | 28.6% | -84.4% | ||
| Q3 24 | 24.0% | -493.2% | ||
| Q2 24 | -9.5% | -1705.5% | ||
| Q1 24 | -27.5% | -267.0% |
| Q4 25 | 18.9% | -33.9% | ||
| Q3 25 | 23.1% | -62.2% | ||
| Q2 25 | 241.4% | 527.8% | ||
| Q1 25 | 12.6% | -76.9% | ||
| Q4 24 | 19.0% | -91.6% | ||
| Q3 24 | 11.8% | -506.3% | ||
| Q2 24 | -30.1% | -1712.6% | ||
| Q1 24 | -357.1% | -283.9% |
| Q4 25 | $0.12 | $-4.40 | ||
| Q3 25 | $0.14 | $-2.84 | ||
| Q2 25 | $2.28 | $-1.79 | ||
| Q1 25 | $0.08 | $-0.15 | ||
| Q4 24 | $1.23 | $-15.29 | ||
| Q3 24 | $0.11 | $-18.24 | ||
| Q2 24 | $-0.28 | $-71.81 | ||
| Q1 24 | $-3.91 | $-0.46 |
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 | $48.9M |
| Total DebtLower is stronger | $97.6M | — |
| Stockholders' EquityBook value | $-4.8M | $-249.4M |
| Total Assets | $112.6M | $308.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.3M | $48.9M | ||
| Q3 25 | $12.5M | $43.1M | ||
| Q2 25 | $6.8M | $40.8M | ||
| Q1 25 | $2.9M | $58.6M | ||
| Q4 24 | $4.4M | $56.3M | ||
| Q3 24 | $5.8M | $75.4M | ||
| Q2 24 | $6.1M | $89.6M | ||
| Q1 24 | $4.0M | $112.8M |
| 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 | $-249.4M | ||
| Q3 25 | $-10.4M | $-235.7M | ||
| Q2 25 | $-17.3M | $-214.1M | ||
| Q1 25 | $-126.1M | $-417.5M | ||
| Q4 24 | $-130.3M | $-398.4M | ||
| Q3 24 | $-137.5M | $-344.1M | ||
| Q2 24 | $-157.2M | $-203.2M | ||
| Q1 24 | $-149.6M | $371.6M |
| Q4 25 | $112.6M | $308.9M | ||
| Q3 25 | $121.4M | $362.6M | ||
| Q2 25 | $127.8M | $379.2M | ||
| Q1 25 | $114.6M | $405.1M | ||
| Q4 24 | $116.4M | $437.4M | ||
| Q3 24 | $114.2M | $537.8M | ||
| Q2 24 | $113.4M | $691.5M | ||
| Q1 24 | $120.3M | $1.3B |
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 | $8.2M |
| 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.
| Q4 25 | $13.1M | $8.2M | ||
| Q3 25 | $12.2M | $11.4M | ||
| Q2 25 | $10.3M | $-21.3M | ||
| Q1 25 | $3.7M | $8.5M | ||
| Q4 24 | $-8.6M | $-14.7M | ||
| Q3 24 | $-2.3M | $-9.4M | ||
| Q2 24 | $-3.2M | $-11.9M | ||
| Q1 24 | $-2.0M | $-621.0K |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-2.4M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -7.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 2.46× | — | ||
| Q3 25 | 1.77× | — | ||
| Q2 25 | 0.09× | -0.11× | ||
| 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.
