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Side-by-side financial comparison of Arena Group Holdings, Inc. (AREN) and Neuronetics, Inc. (STIM). Click either name above to swap in a different company.
Neuronetics, Inc. is the larger business by last-quarter revenue ($41.8M vs $28.2M, roughly 1.5× Arena Group Holdings, Inc.). Arena Group Holdings, Inc. runs the higher net margin — 18.9% vs -17.2%, a 36.1% gap on every dollar of revenue. On growth, Neuronetics, Inc. posted the faster year-over-year revenue change (85.7% vs -22.0%). Over the past eight quarters, Neuronetics, Inc.'s revenue compounded faster (54.9% 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.
Neuronetics is a Malvern, PA based, publicly traded company incorporated in Delaware in April 2003, that develops non-invasive treatments for psychiatric disorders that have shown resistance or lack of improvement using traditional medicine. The treatments are based upon neuromodulation technology.
AREN vs STIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $28.2M | $41.8M |
| Net Profit | $5.3M | $-7.2M |
| Gross Margin | 43.6% | 52.0% |
| Operating Margin | 26.6% | -12.1% |
| Net Margin | 18.9% | -17.2% |
| Revenue YoY | -22.0% | 85.7% |
| Net Profit YoY | -22.5% | 43.2% |
| EPS (diluted) | $0.12 | $-0.10 |
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 | $41.8M | ||
| Q3 25 | $29.8M | $37.3M | ||
| Q2 25 | $45.0M | $38.1M | ||
| Q1 25 | $31.8M | $32.0M | ||
| Q4 24 | $36.2M | $22.5M | ||
| Q3 24 | $33.6M | $18.5M | ||
| Q2 24 | $27.2M | $16.4M | ||
| Q1 24 | $28.9M | $17.4M |
| Q4 25 | $5.3M | $-7.2M | ||
| Q3 25 | $6.9M | $-9.0M | ||
| Q2 25 | $108.6M | $-10.1M | ||
| Q1 25 | $4.0M | $-12.7M | ||
| Q4 24 | $6.9M | $-12.7M | ||
| Q3 24 | $4.0M | $-13.3M | ||
| Q2 24 | $-8.2M | $-9.8M | ||
| Q1 24 | $-103.4M | $-7.9M |
| Q4 25 | 43.6% | 52.0% | ||
| Q3 25 | 50.2% | 45.9% | ||
| Q2 25 | 56.5% | 46.6% | ||
| Q1 25 | 49.3% | 49.2% | ||
| Q4 24 | 52.6% | 66.2% | ||
| Q3 24 | 50.6% | 75.6% | ||
| Q2 24 | 39.4% | 74.0% | ||
| Q1 24 | 30.9% | 75.1% |
| Q4 25 | 26.6% | -12.1% | ||
| Q3 25 | 31.9% | -19.6% | ||
| Q2 25 | 36.5% | -21.1% | ||
| Q1 25 | 23.1% | -34.4% | ||
| Q4 24 | 28.6% | -51.0% | ||
| Q3 24 | 24.0% | -41.7% | ||
| Q2 24 | -9.5% | -51.7% | ||
| Q1 24 | -27.5% | -39.4% |
| Q4 25 | 18.9% | -17.2% | ||
| Q3 25 | 23.1% | -24.3% | ||
| Q2 25 | 241.4% | -26.6% | ||
| Q1 25 | 12.6% | -39.6% | ||
| Q4 24 | 19.0% | -56.4% | ||
| Q3 24 | 11.8% | -72.0% | ||
| Q2 24 | -30.1% | -59.8% | ||
| Q1 24 | -357.1% | -45.2% |
| Q4 25 | $0.12 | $-0.10 | ||
| Q3 25 | $0.14 | $-0.13 | ||
| Q2 25 | $2.28 | $-0.15 | ||
| Q1 25 | $0.08 | $-0.21 | ||
| Q4 24 | $1.23 | $-0.34 | ||
| Q3 24 | $0.11 | $-0.44 | ||
| Q2 24 | $-0.28 | $-0.33 | ||
| Q1 24 | $-3.91 | $-0.27 |
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 | $28.1M |
| Total DebtLower is stronger | $97.6M | $65.8M |
| Stockholders' EquityBook value | $-4.8M | $22.4M |
| Total Assets | $112.6M | $141.6M |
| Debt / EquityLower = less leverage | — | 2.94× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.3M | $28.1M | ||
| Q3 25 | $12.5M | $28.0M | ||
| Q2 25 | $6.8M | $11.0M | ||
| Q1 25 | $2.9M | $20.2M | ||
| Q4 24 | $4.4M | $18.5M | ||
| Q3 24 | $5.8M | $20.9M | ||
| Q2 24 | $6.1M | $42.6M | ||
| Q1 24 | $4.0M | $47.7M |
| Q4 25 | $97.6M | $65.8M | ||
| Q3 25 | $110.5M | $65.7M | ||
| Q2 25 | $110.5M | $55.5M | ||
| Q1 25 | $110.5M | $55.3M | ||
| Q4 24 | $110.4M | $55.2M | ||
| Q3 24 | $102.4M | $46.0M | ||
| Q2 24 | $102.4M | $59.8M | ||
| Q1 24 | $102.3M | $59.4M |
| Q4 25 | $-4.8M | $22.4M | ||
| Q3 25 | $-10.4M | $27.4M | ||
| Q2 25 | $-17.3M | $27.1M | ||
| Q1 25 | $-126.1M | $35.5M | ||
| Q4 24 | $-130.3M | $27.7M | ||
| Q3 24 | $-137.5M | $9.4M | ||
| Q2 24 | $-157.2M | $19.4M | ||
| Q1 24 | $-149.6M | $27.7M |
| Q4 25 | $112.6M | $141.6M | ||
| Q3 25 | $121.4M | $145.5M | ||
| Q2 25 | $127.8M | $134.7M | ||
| Q1 25 | $114.6M | $142.0M | ||
| Q4 24 | $116.4M | $140.9M | ||
| Q3 24 | $114.2M | — | ||
| Q2 24 | $113.4M | $96.8M | ||
| Q1 24 | $120.3M | $103.8M |
| Q4 25 | — | 2.94× | ||
| Q3 25 | — | 2.40× | ||
| Q2 25 | — | 2.05× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | — | 1.99× | ||
| Q3 24 | — | 4.90× | ||
| Q2 24 | — | 3.08× | ||
| Q1 24 | — | 2.15× |
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 | $908.0K |
| Free Cash FlowOCF − Capex | — | $692.0K |
| FCF MarginFCF / Revenue | — | 1.7% |
| Capex IntensityCapex / Revenue | — | 0.5% |
| Cash ConversionOCF / Net Profit | 2.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-21.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.1M | $908.0K | ||
| Q3 25 | $12.2M | $-785.0K | ||
| Q2 25 | $10.3M | $-3.5M | ||
| Q1 25 | $3.7M | $-17.0M | ||
| Q4 24 | $-8.6M | $-8.6M | ||
| Q3 24 | $-2.3M | $-5.4M | ||
| Q2 24 | $-3.2M | $-5.0M | ||
| Q1 24 | $-2.0M | $-12.0M |
| Q4 25 | — | $692.0K | ||
| Q3 25 | — | $-899.0K | ||
| Q2 25 | — | $-3.8M | ||
| Q1 25 | — | $-17.2M | ||
| Q4 24 | — | $-8.7M | ||
| Q3 24 | $-2.4M | $-5.8M | ||
| Q2 24 | — | $-5.6M | ||
| Q1 24 | — | $-12.4M |
| Q4 25 | — | 1.7% | ||
| Q3 25 | — | -2.4% | ||
| Q2 25 | — | -9.9% | ||
| Q1 25 | — | -53.8% | ||
| Q4 24 | — | -38.6% | ||
| Q3 24 | -7.1% | -31.3% | ||
| Q2 24 | — | -34.0% | ||
| Q1 24 | — | -71.1% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | 0.0% | 0.3% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | 0.1% | 2.1% | ||
| Q2 24 | — | 3.7% | ||
| Q1 24 | — | 2.2% |
| 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.
