Latest news with #Edmondson
Yahoo
6 days ago
- General
- Yahoo
United Regional receives national award from American College of Cardiology
WICHITA FALLS (KFDX/KJTL) — United Regional Health Care System officials have some big news to share as they announce and celebrate a significant accomplishment. During a reception today, United Regional CEO Cory Edmondson announced that the hospital has earned the HEARTcare Center National Distinction of Excellence from the American College of Cardiology. Edmondson said they got this award through the outstanding excellence they provide day in and day out in several departments, including cardiology. Edmondson said staff members there must be board-certified while also providing consistent care for the patients who walk through the doors. 'This would not be possible without our dedicated doctors and staff, especially our cath lab. They're performing at a top-notch and excellent level, especially in the area of technology that we provide. We wouldn't be able to do this if we didn't have the latest and greatest technology, and do the latest and greatest procedures, but our highly trained staff can make that happen,' Edmondson said. Edmondson said that only a few healthcare systems in the nation have ever received this national recognition, and, of course, we here at KFDX want to congratulate the staff at United Regional. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Press and Journal
29-05-2025
- Business
- Press and Journal
Calls for Invergordon to be big winner from cruise ship levy as Highland Council backs plans
Calls have been made for Invergordon to be one of the main beneficiaries from a new cruise ship tax proposal. The Easter Ross town receives the vast majority of cruise traffic in the Highlands, with 4,300 passengers docking last week alone. The Scottish Government recently consulted with local authorities, asking for their views on introducing cruise ship levy powers. Highland Council has endorsed the principal of giving authorities the powers to bring in a levy in a response agreed today. However, the move does not mean they will necessarily introduce it. Meanwhile, calls have been made for the communities that roll out the welcome mat for visitors to benefit from any extra cash. Cromarty Firth councillor John Edmondson said the Invergordon port 'dwarfs all the other cruise passenger visits in the Highlands.' With around 222,000 visitors a year, Mr Edmondson told councillors the Invergordon port 'represents almost the population of the Highlands coming in every year.' He said: 'It's a big part of what goes on in our ward, but we are lacking infrastructure and we need quite a lot of changes to make it an even better experience. 'We've got to look at ways we can fund that.' Mr Edmondson added he was hopeful the council would consider how port towns would be the 'principal' beneficiaries. Before council discussions were held, Port of Cromarty Firth chief executive Alex Campbell spoke out against the idea of a cruise ship levy. He said a cruise ship levy 'would not benefit' the Highlands, and could end up 'damaging' communities who rely on cruise income. Highland Council's consultation response said European ports who have introduced a levy charge between €3-14 per passenger. In his own response to the government consultation, Mr Campbell said: 'The Port of Cromarty Firth does not understand the economic rationale for bringing in a local cruise levy. 'We believe that, far from benefiting our nation, it will in fact harm the reputation of Scotland as a tourist destination. 'Further, as an additional tax that is difficult to administer and collect, it will only damage relations with cruise operators.' The port believes that while Highland Council could bank £863,000 a year from a levy, businesses and communities could miss out on £2.4 million of spending from passengers. Highland Council has now submitted their response to the Scottish Government's cruise ship levy consultation after councillors agreed to move ahead. In principle, the council is supportive of giving local authorities the power to implement a levy 'if they wish to do so.' The response adds extra funding will help to 'mitigate the impact of tourism' and ensure the Highlands remains a 'world leading and sustainable tourism destination.' The latest figures show the Highlands had 8.4 million visitors in 2023, with 300,000 of those coming through the ports. Inverness councillor Duncan Macpherson told councillors a cruise ship levy may end up pricing some visitors out of visiting the Highlands. Skye councillor Ruraidh Stewart said he will not 'support any additional taxation of this kind that risks undermining the reputation of successful tourist destinations.' Fort William councillor Andrew Baxter said there is 'considerable residents interest in this issue' and he 'welcomed' the government weighing up the idea of a cruise levy. He warned councillors to be wary of disadvantaging west Highland ports over Invergordon in any future discussions. The consultation's closing date is the 30th May.
Associated Press
28-05-2025
- Business
- Associated Press
FranklinCovey Hosts Exclusive Live Webinar with Bestselling Authors, Amy Edmondson, Stephen M. R. Covey and Liz Wiseman on The Power of Leadership in Uncertain Times
SALT LAKE CITY--(BUSINESS WIRE)--May 28, 2025-- FranklinCovey (NYSE: FC): Paul Walker, FranklinCovey CEO, said, 'When uncertainty hits, it doesn't remain outside an organization. It creeps inside into how leaders lead, how teams perform, and how organizations hold it together when nothing feels stable. Leaders are expected to move fast and stay decisive, without a playbook. Teams are expected to deliver more—with less clarity, less connection, and fewer resources.' To help organizations overcome these challenges, FranklinCovey is hosting an exclusive webinar with Edmondson, Covey and Wiseman for a provocative conversation that will explore the hidden costs of uncertainty and how today's best leaders are breaking through to become change agents during times of disruption. Walker added, 'Change isn't the exception, it's the rule. How organizations respond to disruptive moments along their journey will determine whether they simply endure the turbulence, or use it as a catalyst to evolve, adapt, and transform.' The panel of experts will explore the three barriers no leader can afford to ignore in these uncertain times: The Leadership Crisis: Why outdated leadership models are taxing performance and growth—and what leaders must do now to adapt. The Engagement Recession: How exhaustion, disconnection, and cultures of caution are negatively impacting performance and morale—and how leaders can reignite commitment and resilience. The Adaptability Dilemma: How over-analysis, misalignment, and chronic rigidity are stalling performance—and how great leaders move fast, build trust, and create clarity in times of disruption. ABOUT THE PRESENTERS: Amy C. Edmondson: Amy C. Edmondson is the Novartis Professor of Leadership and Management at the Harvard Business School, a chair established to support the study of human interactions that lead to the creation of successful enterprises that contribute to the betterment of society. Edmondson has been recognized by the biannual Thinkers50 global ranking of management thinkers since 2011, and most recently was ranked #1 in 2021 and 2023; she also received that organization's Breakthrough Idea Award in 2019, and Talent Award in 2017. She studies teaming, psychological safety, and organizational learning, and her articles have been published in numerous academic and management outlets, including Administrative Science Quarterly, Academy of Management Journal, Harvard Business Review, and California Management Review. Her 2019 book, The Fearless Organization: Creating Psychological Safety in the Workplace for Learning, Innovation and Growth (Wiley), has been translated into 15 languages. Edmondson's latest book, Right Kind of Wrong (Atria), builds on her prior work on psychological safety and teaming to provide a framework for thinking about, discussing, and practicing the science of failing well. First published in the US and in the UK (Penguin) in September 2023, the book is due to be translated into 24 additional languages and was selected for the Financial Times and Schroders Best Business Book of the Year award. Stephen M. R. Covey: Covey is a New York Times and #1 Wall Street Journal bestselling author of The Speed of Trust and Trust & Inspire. He is the former CEO of Covey Leadership Center, which, under his stewardship, became the largest leadership development company in the world. Stephen personally led the strategy that propelled his father's book, Dr. Stephen R. Covey's The 7 Habits of Highly Effective People, to become one of the two most influential business books of the 20th Century, according to CEO Magazine. As president and CEO of Covey Leadership Center, Stephen nearly doubled revenues while increasing profits by 12 times. During that period, the company expanded throughout the world into over 40 countries, greatly increasing the value of the brand and enterprise. The company was valued at $2.4 million when Stephen was named CEO, and, within three years, he had grown shareholder value to $160 million in a merger he orchestrated with Franklin Quest to form FranklinCovey. Stephen co-founded CoveyLink, a consulting practice, which focuses on enabling leaders and organizations to increase and leverage trust to achieve superior performance. Stephen merged CoveyLink with FranklinCovey, forming the Global Speed of Trust Practice, where Stephen serves as global practice leader. Learn More Liz Wiseman: Wiseman is a researcher and executive advisor who teaches leadership to top organizations worldwide. She wrote the New York Times bestsellers Multipliers, The Multiplier Effect, and Wall Street Journal bestsellers Rookie Smarts and Impact Players. She is the CEO of the Wiseman Group, a leadership research and development firm headquartered in Silicon Valley, California. Some of her recent clients include Apple, AT&T, Disney, Meta, Google, Microsoft, Nike, Salesforce, Tesla, and X. Liz has received the top achievement award for leadership from Thinkers50. She has also been consistently named one of the world's leading 50 management thinkers in its bi-annual ranking. Liz has conducted significant research in leadership and talent development. She writes for Harvard Business Review, Fortune, and various other business and leadership journals and is a frequent guest lecturer at Brigham Young University and Stanford University. She is a former executive at Oracle, where she worked as the Vice President of Oracle University and the global leader for Human Resource Development. Liz holds a bachelor's degree in business management and a master's in organizational behavior from Brigham Young University. Learn More ABOUT FRANKLINCOVEY FranklinCovey(NYSE: FC) is one of the largest and most trusted leadership companies in the world, with directly owned and licensee partner offices providing professional services in over 160 countries and territories. The Company transforms organizations by partnering with clients to build leaders, teams, and cultures that get breakthrough results through collective action, which leads to a more engaging work experience for their people. Available through the FranklinCovey All Access Pass, FranklinCovey's best-in-class content, solutions, experts, technology, and metrics seamlessly integrate to ensure lasting behavior change at scale. Solutions are available in multiple delivery modalities in more than 20 languages. This approach to leadership and organizational change has been tested and refined by working with tens of thousands of teams and organizations over the past 30 years. Clients have included organizations in the Fortune 100, Fortune 500 and thousands of small and mid-sized businesses, numerous government entities, and educational institutions. To learn more, visit and enjoy exclusive content across FranklinCovey's social media channels at: LinkedIn, Facebook, Twitter, Instagram, and YouTube. View source version on Debra Lund, FranklinCovey, [email protected], 801-244-4474 KEYWORD: UTAH UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: PROFESSIONAL SERVICES ENTERTAINMENT THOUGHT LEADERSHIP OTHER PROFESSIONAL SERVICES BOOKS CONSULTING SOURCE: FranklinCovey Copyright Business Wire 2025. PUB: 05/28/2025 09:11 AM/DISC: 05/28/2025 09:10 AM
Business Wire
28-05-2025
- Business
- Business Wire
FranklinCovey Hosts Exclusive Live Webinar with Bestselling Authors, Amy Edmondson, Stephen M. R. Covey and Liz Wiseman on The Power of Leadership in Uncertain Times
SALT LAKE CITY--(BUSINESS WIRE)--FranklinCovey (NYSE: FC): Walker added, "Change isn't the exception, it's the rule. How organizations respond to disruptive moments along their journey will determine whether they simply endure the turbulence, or use it as a catalyst to evolve, adapt, and transform." Paul Walker, FranklinCovey CEO, said, 'When uncertainty hits, it doesn't remain outside an organization. It creeps inside into how leaders lead, how teams perform, and how organizations hold it together when nothing feels stable. Leaders are expected to move fast and stay decisive, without a playbook. Teams are expected to deliver more—with less clarity, less connection, and fewer resources.' To help organizations overcome these challenges, FranklinCovey is hosting an exclusive webinar with Edmondson, Covey and Wiseman for a provocative conversation that will explore the hidden costs of uncertainty and how today's best leaders are breaking through to become change agents during times of disruption. Walker added, 'Change isn't the exception, it's the rule. How organizations respond to disruptive moments along their journey will determine whether they simply endure the turbulence, or use it as a catalyst to evolve, adapt, and transform.' The panel of experts will explore the three barriers no leader can afford to ignore in these uncertain times: The Leadership Crisis: Why outdated leadership models are taxing performance and growth—and what leaders must do now to adapt. The Engagement Recession: How exhaustion, disconnection, and cultures of caution are negatively impacting performance and morale—and how leaders can reignite commitment and resilience. The Adaptability Dilemma: How over-analysis, misalignment, and chronic rigidity are stalling performance—and how great leaders move fast, build trust, and create clarity in times of disruption. ABOUT THE PRESENTERS: Amy C. Edmondson: Amy C. Edmondson is the Novartis Professor of Leadership and Management at the Harvard Business School, a chair established to support the study of human interactions that lead to the creation of successful enterprises that contribute to the betterment of society. Edmondson has been recognized by the biannual Thinkers50 global ranking of management thinkers since 2011, and most recently was ranked #1 in 2021 and 2023; she also received that organization's Breakthrough Idea Award in 2019, and Talent Award in 2017. She studies teaming, psychological safety, and organizational learning, and her articles have been published in numerous academic and management outlets, including Administrative Science Quarterly, Academy of Management Journal, Harvard Business Review, and California Management Review. Her 2019 book, The Fearless Organization: Creating Psychological Safety in the Workplace for Learning, Innovation and Growth (Wiley), has been translated into 15 languages. Edmondson's latest book, Right Kind of Wrong (Atria), builds on her prior work on psychological safety and teaming to provide a framework for thinking about, discussing, and practicing the science of failing well. First published in the US and in the UK (Penguin) in September 2023, the book is due to be translated into 24 additional languages and was selected for the Financial Times and Schroders Best Business Book of the Year award. Stephen M. R. Covey: Covey is a New York Times and #1 Wall Street Journal bestselling author of T he Speed of Trust and Trust & Inspire. He is the former CEO of Covey Leadership Center, which, under his stewardship, became the largest leadership development company in the world. Stephen personally led the strategy that propelled his father's book, Dr. Stephen R. Covey's The 7 Habits of Highly Effective People, to become one of the two most influential business books of the 20th Century, according to CEO Magazine. As president and CEO of Covey Leadership Center, Stephen nearly doubled revenues while increasing profits by 12 times. During that period, the company expanded throughout the world into over 40 countries, greatly increasing the value of the brand and enterprise. The company was valued at $2.4 million when Stephen was named CEO, and, within three years, he had grown shareholder value to $160 million in a merger he orchestrated with Franklin Quest to form FranklinCovey. Stephen co-founded CoveyLink, a consulting practice, which focuses on enabling leaders and organizations to increase and leverage trust to achieve superior performance. Stephen merged CoveyLink with FranklinCovey, forming the Global Speed of Trust Practice, where Stephen serves as global practice leader. Learn More Liz Wiseman: Wiseman is a researcher and executive advisor who teaches leadership to top organizations worldwide. She wrote the New York Times bestsellers Multipliers, The Multiplier Effect, and Wall Street Journal bestsellers Rookie Smarts and Impact Players. She is the CEO of the Wiseman Group, a leadership research and development firm headquartered in Silicon Valley, California. Some of her recent clients include Apple, AT&T, Disney, Meta, Google, Microsoft, Nike, Salesforce, Tesla, and X. Liz has received the top achievement award for leadership from Thinkers50. She has also been consistently named one of the world's leading 50 management thinkers in its bi-annual ranking. Liz has conducted significant research in leadership and talent development. She writes for Harvard Business Review, Fortune, and various other business and leadership journals and is a frequent guest lecturer at Brigham Young University and Stanford University. She is a former executive at Oracle, where she worked as the Vice President of Oracle University and the global leader for Human Resource Development. Liz holds a bachelor's degree in business management and a master's in organizational behavior from Brigham Young University. Learn More ABOUT FRANKLINCOVEY FranklinCovey (NYSE: FC) is one of the largest and most trusted leadership companies in the world, with directly owned and licensee partner offices providing professional services in over 160 countries and territories. The Company transforms organizations by partnering with clients to build leaders, teams, and cultures that get breakthrough results through collective action, which leads to a more engaging work experience for their people. Available through the FranklinCovey All Access Pass, FranklinCovey's best-in-class content, solutions, experts, technology, and metrics seamlessly integrate to ensure lasting behavior change at scale. Solutions are available in multiple delivery modalities in more than 20 languages. This approach to leadership and organizational change has been tested and refined by working with tens of thousands of teams and organizations over the past 30 years. Clients have included organizations in the Fortune 100, Fortune 500 and thousands of small and mid-sized businesses, numerous government entities, and educational institutions. To learn more, visit and enjoy exclusive content across FranklinCovey's social media channels at: LinkedIn, Facebook, Twitter, Instagram, and YouTube.
Business Wire
18-05-2025
- Business
- Business Wire
Arena Group Posts Third Consecutive Profitable Quarter in Q1 2025 with $4.0 Million in Net Income
NEW YORK--(BUSINESS WIRE)--The Arena Group Holdings, Inc. (NYSE American: AREN) ('Arena'), a technology platform and media company home to hundreds of media brands, including TheStreet, Parade, Men's Journal, Athlon Sports, Surfer, Powder and more today announced financial results for the three months ending March 31, 2025 ('Q1 2025'). Financial Highlights for Q1 2025: Quarterly revenue was $31.8 million compared to $28.9 million for Q1 2024. Net income was $4.0 million, or $0.08 per diluted share for Q1 2025, compared to a net loss of $103 million, including a $91 million loss from discontinued operations, or $3.91 per diluted share in Q1 2024. Income from continuing operations was $4.0 million in Q1 2025 compared to a loss from continuing operations of $12.7 million in Q1 2024, nearly a $17 million swing. Adjusted EBITDA for Q1 2025 was $9.7 million compared to negative Adjusted EBITDA of $848 thousand for Q1 2024. Financial Guidance for Q2 2025: Expected revenue of approximately $40-$45 million. Income from continuing operations of approximately $9 - $11 million. 'In Q1 2025, we expanded our brand-building activities and competitive publishing model originally pioneered with Athlon Sports to more of our brands, and the results have exceeded expectations,' said Paul Edmondson, CEO of The Arena Group. 'Our entrepreneurial publishers have brought extraordinary energy and commitment to each brand. By aligning incentives with audience engagement, we've unlocked significant growth in our users, distribution and revenue. This performance reaffirms the power of our model.' 'Our goal is to leverage this new approach across our entire platform — driving traffic, higher CPMs, and increased revenue, while maintaining expense discipline to sustain profitability,' Edmondson added. 'With these results, we believe we are well-positioned to maintain profitability throughout 2025.' Operational highlights: Athlon Sports: Audience traffic continues to grow significantly, with traffic increasing over 500% in Q1 2025 vs. Q1 2024. Our commitment to building a diversified revenue stream for Athlon continues to pay off with syndication and commerce revenue growing 730% year-over-year vs Q1 2024. Men's Journal 's traffic increased 282% over the previous month to 33.1 million page views in March 2025, the first month of competitive publishing. TheStreet: The financial brand reached record traffic levels in March 2025, delivering 80 million page views, up 100% vs March 2024. Parade: Digital traffic of Parade and Parade Pets also remained strong with more than 76 million monthly page views in Q1 2025 (up 2% vs Q4 2024). Arena recently acquired the travel brand, TravelHost. This iconic publication was founded in the mid-1960s and was the first in-room hotel magazine. It now provides travelers with local insights in 30+ markets. Arena intends to fully update and modernize the site and the brand's offerings. Video Message: Paul Edmondson, The Arena Group's CEO, has posted a video reviewing Arena's quarterly results and business strategy. The video addresses questions previously submitted by investors and other interested parties. It has been shared across Arena's social media channels and is available HERE. About The Arena Group The Arena Group (NYSE American: AREN) is an innovative technology platform and media company with a proven cutting-edge playbook that transforms media brands. Our unified technology platform empowers creators and publishers with tools to publish and monetize their content, while also leveraging quality journalism of anchor brands like TheStreet, Parade, Men's Journal, Athlon Sports, Surfer, Powder and more to build their businesses. The company aggregates content across a diverse portfolio of brands, reaching over 100 million users monthly. Visit us at and discover how we are revolutionizing the world of digital media. As of (unaudited) December 31, 2024 ($ in thousands, except share data) Assets Current assets: Cash and cash equivalents $ 2,902 $ 4,362 Accounts receivables, net 31,561 31,115 Prepayments and other current assets 4,682 4,757 Total current assets 39,145 40,234 Property and equipment, net 107 148 Operating lease right-of-use assets 2,260 2,340 Platform development, net 8,471 8,115 Acquired and other intangible assets, net 21,940 22,789 Other long term assets 147 151 Goodwill 42,575 42,575 Total assets 114,645 116,352 Liabilities, mezzanine equity and stockholders' deficiency Current liabilities: Accounts payable 3,615 4,844 Accrued expenses and other 10,802 10,990 Unearned revenue 5,230 6,349 Subscription refund liability 662 430 Operating lease liability, current portion 97 254 Liquidating damages payable 3,305 3,230 Current liabilities from discontinued operations 96,056 96,159 Total current liabilities 119,767 122,256 Unearned revenue, net of current portion 193 403 Operating lease liability, net of current portion 2,182 1,964 Deferred tax liabilities 833 802 Simplify loan 7,151 10,651 Debt 110,467 110,436 Total liabilities 240,593 246,512 Mezzanine equity: Series G redeemable and convertible preferred stock, $0.01 par value, $1,000 per share liquidation value and 1,800 shares designated; aggregate liquidation value: $168; Series G shares issued and outstanding: 168; common shares issuable upon conversion: 8,582 at December 31, 2024 and December 31, 2023 168 168 Total mezzanine equity 168 168 Stockholders' deficiency: Common stock, $0.01 par value, authorized 1,000,000,000 shares; issued and outstanding: 47,556,267 and 23,836,706 shares at December 31, 2024 and December 31, 2023, respectively 475 475 Additional paid-in capital 348,752 348,560 Accumulated deficit (475,343 ) (479,363 ) Total stockholders' deficiency (126,116 ) (130,328 ) Total liabilities, mezzanine equity and stockholders' deficiency $ 114,645 $ 116,352 Expand THE ARENA GROUP HOLDINGS, INC. AND SUBSIDIARIES Three Months Ended March 31, 2025 2024 ($ in thousands, except share data) Revenue $ 31,815 $ 28,941 Cost of revenue (includes amortization of platform development and developed technology for 2024 and 2023 of $5,988 and $8,782, respectively) 16,146 20,008 Gross profit 15,669 8,933 Operating expenses Selling and marketing 2,134 4,564 General and administrative 5,283 10,135 Depreciation and amortization 890 987 Loss on impairment of assets - 1,198 Total operating expenses 8,307 16,884 Income (loss) from operations 7,362 (7,951 ) Other (expense) income Change in valuation of contingent consideration - (313 ) Interest expense, net (3,004 ) (4,339 ) Liquidated damages (75 ) (76 ) Total other expense (3,079 ) (4,728 ) Income (loss) before income taxes 4,283 (12,679 ) Income tax provision (286 ) (41 ) Income (loss) from continuing operations 3,997 (12,720 ) Income (loss) from discontinued operations, net of tax 23 (90,638 ) Net income (loss) $ 4,020 $ (103,358 ) Basic and diluted net income (loss) per common share: Continuing operations $ 0.08 $ (0.48 ) Discontinued operations - (3.43 ) Basic and diluted net income (loss) per common share $ 0.08 $ (3.91 ) Weighted average number of common shares outstanding Basic 47,458,076 26,443,764 Expand Use of Non-GAAP Financial Measures We report our financial results in accordance with generally accepted accounting principles in the United States of America ('GAAP'); however, management believes that certain non-GAAP financial measures provide users of our financial information with useful supplemental information that enables a better comparison of our performance across periods. We believe Adjusted EBITDA provides visibility to the underlying continuing operating performance by excluding the impact of certain items that are noncash in nature or not related to our core business operations. We calculate Adjusted EBITDA as net income (loss) as adjusted for loss from discontinued operations, with additional adjustments for (i) interest expense (net), (ii) income taxes, (iii) depreciation and amortization, (iv) stock-based compensation, (v) change in valuation of contingent consideration, (vi) liquidated damages, (vii) loss on impairment of assets, (viii) loss on sale of assets; (ix) employee retention credit, (x) employee restructuring payments, and (xi) professional and vendor fees. Our non-GAAP measure may not be comparable to similarly titled measures used by other companies, have limitations as an analytical tool, and should not be considered in isolation, or as a substitute for analysis of our operating results as reported under GAAP. Additionally, we do not consider our non-GAAP measures as superior to, or a substitute for, the equivalent measures calculated and presented in accordance with GAAP. Some of the limitations are that our presentation of Adjusted EBITDA: does not reflect interest expense and financing fees, or the cash required to service our debt, which reduces cash available to us; does not reflect income tax provision or benefit, which is a noncash income or expense; does not reflect depreciation and amortization expense and, although this is a noncash expense, the assets being depreciated may have to be replaced in the future, increasing our cash requirements; does not reflect stock-based compensation and, therefore, does not include all of our compensation costs; does not reflect the change in valuation of contingent consideration and, although this is a noncash income or expense, the change in the valuations each reporting period are not impacted by our actual business operations but is instead strongly tied to the change in the market value of our common stock; does not reflect liquidated damages and, therefore, does not include future cash requirements if we repay the liquidated damages in cash instead of shares of our common stock (which the investor would need to agree to); does not reflect any losses from the impairment of assets, which is a noncash operating expense; does not reflect any losses from the sale of assets, which is a noncash operating expense does not reflect the employee retention credits recorded by us for payroll related tax credits under the CARES Act; does not reflect payments related to employee severance and employee restructuring changes for our former executives; does not reflect the professional and vendor fees incurred by us for services provided by consultants, accountants, lawyers, and other vendors, which services were related to certain types of events that are not reflective of our business operations; and may not reflect proper non direct cost allocations. The following table presents a reconciliation of Adjusted EBITDA to net income (loss), which is the most directly comparable GAAP measure, for the periods indicated: (1) Interest expense is related to our capital structure and varies over time due to a variety of financing transactions. Interest expense includes $31 and $536 for amortization of debt discounts for the three months ended March 31, 2025 and 2024, respectively, as presented in our condensed consolidated statements of cash flows, which are noncash items. Investors should note that interest expense will recur in future periods. (2) Depreciation and amortization related to our developed technology and Platform is included within cost of revenues of $1,276 and $1,549 for the three months ended March 31, 2025 and 2024, respectively, and depreciation and amortization is included within operating expenses of $890 and $987 for the three months ended March 31, 2025 and 2024, respectively. We believe (i) the amount of depreciation and amortization expense in any specific period may not directly correlate to the underlying performance of our business operations and (ii) such expenses can vary significantly between periods as a result of new acquisitions and full amortization of previously acquired tangible and intangible assets. Investors should note that the use of tangible and intangible assets contributed to revenue in the periods presented and will contribute to future revenue generation and should also note that such expense will recur in future periods. (3) Stock-based compensation represents noncash costs arise from the grant of stock-based awards to employees, consultants and directors. We believe that excluding the effect of stock-based compensation from Adjusted EBITDA assists management and investors in making period-to-period comparisons in our operating performance because (i) the amount of such expenses in any specific period may not directly correlate to the underlying performance of our business operations, and (ii) such expenses can vary significantly between periods as a result of the timing of grants of new stock-based awards, including grants in connection with acquisitions. Additionally, we believe that excluding stock-based compensation from Adjusted EBITDA assists management and investors in making meaningful comparisons between our operating performance and the operating performance of other companies that may use different forms of employee compensation or different valuation methodologies for their stock-based compensation. Investors should note that stock-based compensation is a key incentive offered to employees whose efforts contributed to the operating results in the periods presented and are expected to contribute to operating results in future periods. Investors should also note that such expenses will recur in the future. (4) Change in fair value of contingent consideration represents the change in the put option on our common stock in connection with the Fexy Studios acquisition. (5) Liquidated damages (or interest expense related to accrued liquidated damages) represents amounts we owe to certain of our investors in private placements offerings conducted in fiscal years 2018 through 2020, pursuant to which we agreed to certain covenants in the respective securities purchase agreements and registration rights agreements, including the filing of resale registration statements and becoming current in our reporting obligations, which we were not able to timely meet. (6) Loss on impairment of assets represents certain assets that are no longer useful. (7) Employee restructuring payments represents severance payments to employees under employer restructuring arrangements and payments for the three months ended March 31, 2025 and 2024, respectively. Expand Forward-Looking Statements This Press Release of The Arena Group Holdings, Inc. (the 'Company,' 'we,' 'our,' and 'us') contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). Forward-looking statements relate to future events or future performance and include, without limitation, statements concerning our business strategy, future revenues and income from continuing operations, cost reductions, market growth, capital requirements, product introductions, expansion plans and the adequacy of our funding and our ability to alleviate the conditions that raise substantial doubt about our ability to continue as a going concern (as disclosed in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on April 15, 2025 (the '2024 10-K') and in our other SEC filings and publicly available documents). Other statements contained in this Press Release that are not historical facts are also forward-looking statements. We have tried, wherever possible, to identify forward-looking statements by terminology such as 'may,' 'will,' 'could,' 'should,' 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and other stylistic variants denoting forward-looking statements. We caution investors that any forward-looking statements presented in this Press Release, or that we may make orally or in writing from time to time, are based on information currently available, as well as our beliefs and assumptions. The actual outcome related to forward-looking statements will be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control or ability to predict. Although we believe that our assumptions are reasonable, they are not guarantees of future performance, and some will inevitably prove to be incorrect. As a result, our actual future results can be expected to differ from our expectations, and those differences may be material. Accordingly, investors should use caution in relying on forward-looking statements, which are based only on known results and trends at the time they are made, to anticipate future results or trends. We detail other risks in our public filings with the Securities and Exchange Commission (the 'SEC'), including in Part I, Item 1A, Risk Factors, in the 2024 10-K and in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 (the 'Q1 10-Q'). The discussion in this Press Release should be read in conjunction with the consolidated financial statements and notes thereto included in Part II, Item 8 in the 2024 10-K and in the Q1 10-Q. This Press Release and all subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. We do not undertake any obligation to release publicly any revisions to our forward-looking statements to reflect events or circumstances after the date of this Press Release except as may be required by law.
