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Side-by-side financial comparison of Arena Group Holdings, Inc. (AREN) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
Velocity Financial, Inc. is the larger business by last-quarter revenue ($51.6M vs $28.2M, roughly 1.8× Arena Group Holdings, Inc.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs 18.9%, a 48.5% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs -22.0%). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% 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.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
AREN vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $28.2M | $51.6M |
| Net Profit | $5.3M | $34.8M |
| Gross Margin | 43.6% | — |
| Operating Margin | 26.6% | 97.0% |
| Net Margin | 18.9% | 67.3% |
| Revenue YoY | -22.0% | 32.8% |
| Net Profit YoY | -22.5% | 67.0% |
| EPS (diluted) | $0.12 | $0.90 |
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 | $51.6M | ||
| Q3 25 | $29.8M | $49.1M | ||
| Q2 25 | $45.0M | $47.6M | ||
| Q1 25 | $31.8M | $37.5M | ||
| Q4 24 | $36.2M | $38.9M | ||
| Q3 24 | $33.6M | $35.1M | ||
| Q2 24 | $27.2M | $32.4M | ||
| Q1 24 | $28.9M | $29.5M |
| Q4 25 | $5.3M | $34.8M | ||
| Q3 25 | $6.9M | $25.4M | ||
| Q2 25 | $108.6M | $26.0M | ||
| Q1 25 | $4.0M | $18.9M | ||
| Q4 24 | $6.9M | $20.8M | ||
| Q3 24 | $4.0M | $15.8M | ||
| Q2 24 | $-8.2M | $14.8M | ||
| Q1 24 | $-103.4M | $17.3M |
| 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 24 | 30.9% | — |
| Q4 25 | 26.6% | 97.0% | ||
| Q3 25 | 31.9% | 72.1% | ||
| Q2 25 | 36.5% | 71.3% | ||
| Q1 25 | 23.1% | 71.7% | ||
| Q4 24 | 28.6% | 82.5% | ||
| Q3 24 | 24.0% | 60.6% | ||
| Q2 24 | -9.5% | 61.3% | ||
| Q1 24 | -27.5% | 78.8% |
| Q4 25 | 18.9% | 67.3% | ||
| Q3 25 | 23.1% | 51.7% | ||
| Q2 25 | 241.4% | 54.6% | ||
| Q1 25 | 12.6% | 50.4% | ||
| Q4 24 | 19.0% | 53.5% | ||
| Q3 24 | 11.8% | 45.1% | ||
| Q2 24 | -30.1% | 45.6% | ||
| Q1 24 | -357.1% | 58.5% |
| Q4 25 | $0.12 | $0.90 | ||
| Q3 25 | $0.14 | $0.65 | ||
| Q2 25 | $2.28 | $0.69 | ||
| Q1 25 | $0.08 | $0.51 | ||
| Q4 24 | $1.23 | $0.56 | ||
| Q3 24 | $0.11 | $0.44 | ||
| Q2 24 | $-0.28 | $0.42 | ||
| Q1 24 | $-3.91 | $0.49 |
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 | $92.1M |
| Total DebtLower is stronger | $97.6M | — |
| Stockholders' EquityBook value | $-4.8M | $672.5M |
| Total Assets | $112.6M | $7.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.3M | $92.1M | ||
| Q3 25 | $12.5M | $99.0M | ||
| Q2 25 | $6.8M | $79.6M | ||
| Q1 25 | $2.9M | $51.7M | ||
| Q4 24 | $4.4M | $49.9M | ||
| Q3 24 | $5.8M | $44.1M | ||
| Q2 24 | $6.1M | $47.4M | ||
| Q1 24 | $4.0M | $34.8M |
| 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 | $672.5M | ||
| Q3 25 | $-10.4M | $634.3M | ||
| Q2 25 | $-17.3M | $597.9M | ||
| Q1 25 | $-126.1M | $563.2M | ||
| Q4 24 | $-130.3M | $516.9M | ||
| Q3 24 | $-137.5M | $484.6M | ||
| Q2 24 | $-157.2M | $471.3M | ||
| Q1 24 | $-149.6M | $452.9M |
| Q4 25 | $112.6M | $7.4B | ||
| Q3 25 | $121.4M | $7.0B | ||
| Q2 25 | $127.8M | $6.5B | ||
| Q1 25 | $114.6M | $6.0B | ||
| Q4 24 | $116.4M | $5.5B | ||
| Q3 24 | $114.2M | $5.2B | ||
| Q2 24 | $113.4M | $4.9B | ||
| Q1 24 | $120.3M | $4.6B |
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 | $18.2M |
| Free Cash FlowOCF − Capex | — | $17.9M |
| FCF MarginFCF / Revenue | — | 34.6% |
| Capex IntensityCapex / Revenue | — | 0.5% |
| Cash ConversionOCF / Net Profit | 2.46× | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | — | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.1M | $18.2M | ||
| Q3 25 | $12.2M | $11.5M | ||
| Q2 25 | $10.3M | $7.7M | ||
| Q1 25 | $3.7M | $3.5M | ||
| Q4 24 | $-8.6M | $37.8M | ||
| Q3 24 | $-2.3M | $-17.6M | ||
| Q2 24 | $-3.2M | $11.5M | ||
| Q1 24 | $-2.0M | $10.6M |
| Q4 25 | — | $17.9M | ||
| Q3 25 | — | $11.4M | ||
| Q2 25 | — | $7.6M | ||
| Q1 25 | — | $3.5M | ||
| Q4 24 | — | $37.5M | ||
| Q3 24 | $-2.4M | $-17.6M | ||
| Q2 24 | — | $11.4M | ||
| Q1 24 | — | $10.5M |
| Q4 25 | — | 34.6% | ||
| Q3 25 | — | 23.2% | ||
| Q2 25 | — | 15.9% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | 96.4% | ||
| Q3 24 | -7.1% | -50.3% | ||
| Q2 24 | — | 35.1% | ||
| Q1 24 | — | 35.8% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | 0.0% | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | 0.1% | 0.2% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | 2.46× | 0.52× | ||
| Q3 25 | 1.77× | 0.45× | ||
| Q2 25 | 0.09× | 0.29× | ||
| Q1 25 | 0.91× | 0.19× | ||
| Q4 24 | -1.25× | 1.81× | ||
| Q3 24 | -0.59× | -1.11× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AREN
Segment breakdown not available.
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
