CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Income Statement [Abstract]
Revenue	$ 45,012	$ 27,183	$ 76,827	$ 56,124
Cost of revenue (includes amortization of platform development and developed technology for the three months ended June 30, 2025 and 2024 of $1,108 and $1,507, respectively and for the six months ended June 30, 2025 and 2024 of $2,384 and $3,056, respectively)	19,577	16,465	35,723	36,473
Gross profit	25,435	10,718	41,104	19,651
Operating expenses
Selling and marketing	1,942	3,751	4,076	8,315
General and administrative	6,200	8,632	11,483	18,767
Depreciation and amortization	881	913	1,771	1,900
Loss on impairment of assets	0	0	0	1,198
Total operating expenses	9,023	13,296	17,330	30,180
Income (loss) from operations	16,412	(2,578)	23,774	(10,529)
Other (expense) income
Change in valuation of contingent consideration	0	0	0	(313)
Interest expense, net	(2,945)	(4,249)	(5,949)	(8,588)
Liquidated damages	(76)	(76)	(151)	(152)
Total other expense	(3,021)	(4,325)	(6,100)	(9,053)
Income (loss) before income taxes	13,391	(6,903)	17,674	(19,582)
Income tax provision	(979)	(35)	(1,265)	(76)
Income (loss) from continuing operations	12,412	(6,938)	16,409	(19,658)
Income (loss) from discontinued operations, net of tax	96,227	(1,249)	96,250	(91,887)
Net income (loss)	$ 108,639	$ (8,187)	$ 112,659	$ (111,545)
Basic net income (loss) per common share (Note 1)
Continuing operations (in dollars per share)	$ 0.26	$ (0.24)	$ 0.35	$ (0.70)
Discontinued operations (in dollars per share)	2.03	(0.04)	2.03	(3.27)
Basic net income (loss) per common share (in dollars per share)	2.29	(0.28)	2.38	(3.97)
Diluted net income (loss) per common share (Note 1)
Continuing operations (in dollars per share)	0.26	(0.24)	0.35	(0.70)
Discontinued operations (in dollars per share)	2.02	(0.04)	2.03	(3.27)
Diluted net income (loss) per common share (in dollars per share)	$ 2.28	$ (0.28)	$ 2.38	$ (3.97)
Weighted average number of common shares outstanding (Note 1)
Basic (in shares)	47,398,767	29,399,365	47,397,193	28,110,331
Diluted (in shares)	47,635,146	29,399,365	47,503,269	28,110,331

Arena Group Holdings, Inc. 10-Q