2023-05-10 16:31:22 ET
- Arena Group press release ( NYSE: AREN ): Q1 GAAP EPS of -$1.04 beats by $0.16 .
- Revenue of $51.4M (+6.6% Y/Y) beats by $2.92M .
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Fiscal 2023 Outlook
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Management maintains its full-year 2023 guidance of between $255 million and $270 million in total revenue and between $30 million and $35 million in Adjusted EBITDA.
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Cash and cash equivalents were $16.0 million as of March 31, 2023, compared to $13.9 million as of December 31, 2022.
In Q1 2023, net cash used in operating activities was $1.7 million, as compared to $13.3 million used in operating activities in Q1 2022, an $11.6 million improvement.
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Adjusted EBITDA was $4.5 million in loss for Q1 2023, compared to an Adjusted EBITDA of $1.1 million in loss in the prior year period.
For further details see:
Arena Group GAAP EPS of -$1.04 beats by $0.16, revenue of $51.4M beats by $2.92M