On this page of Benford's Law Stocks.com we present our study of Arena Group Holdings, Inc. — ticker symbol AREN. SEC filings have been screened by our Benford's Law software, for quarterly 10Q and annual 10K filings from 4/1/2024 to 5/15/2025 for Arena Group Holdings, Inc. under CIK number 0000894871. For filings made in XBRL (eXtensible Business Reporting Language) format, our algorithm extracts all "tagged" numbers presented by the company; for any non-XBRL filings our algorithm uses its own interal set of rules to extract what it believes to be numbers as found throughout the filings. The format found for each filing is presented below together with the results for AREN, with the percentage of found numbers beginning with each digit (1's, 2's, 3's, 4's, 5's, 6's, 7's, 8's, and 9's) charted against the "normal" range observed throughout our coverage universe, as well as the "normal" range for Arena Group Holdings, Inc. based on the past AREN filings our system processed in the past.
29.3
16.4
15.4
13.2
6.2
5.4
4.7
5.1
4.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
XBRL?   [ original filing, AREN stockholder letter ]
Total numbers found: 836
Recent share count: 47,560,952 (4's column)

= Typical range across full coverage universe
Benford's Law Stocks Indicator
836
Normal count compared to other filers, falling within the middle 50%. At this number count, it would take about 8 numbers to move any given column by a full percentage point.
91

Starting from a possible score of 100, we made the following score deductions:
 • We deducted points upon observing the 3's percentage was above the typical coverage universe range.
 • We deducted points upon observing the 4's percentage was above the typical coverage universe range.
 • We deducted points upon observing the 4's percentage was above the company's typical historical range.
 • We deducted point upon observing the 5's percentage was below the company's typical historical range.
 • The 8's percentage was higher than the 7's percentage, increasing the penalty multiplier.
Benford's Law Stocks Indicator
AREN
High score compared to other filers, with AREN falling in the highest quartile of filers.
AEE
AIG
B
CBT
AHT
AIZ
ATI
BHE
Check our work! We provide our Arena Group Holdings, Inc. Benford's Law analysis for informational purposes only, and our software should be expected to make mistakes and contain errors (nothing you see on this website should be relied upon for any decision-making without first repeating the analysis yourself independently), and so below we present to you all of the numbers our system detected, for the AREN filing above. This way, you can open the filing on your own and compare what you see below against what you yourself find. This can also be helpful for exploring any columns in particular that caught your eye.

1's 2's 3's
We found 245 numbers that start with the digit 1. Here they are:
107
148
147
151
114,645
116,352
10,802
10,990
119,767
122,256
193
1,964
10,651
110,467
110,436
1,000
1,800
168
168
168
168
1,000,000,000
126,116
130,328
114,645
116,352
1,276
1,549
16,146
15,669
10,135
1,198
16,884
12,679
12,720
103,358
130,328
196
196
126,116
11,944
12,000
1,659
1,659
103,358
103,358
103,358
103,358
149,552
149,552
103,358
182
1,451
12,029
148
1,332
102
188
1,329
11,665
18
141
162
1,965
1,618
1,618
19,609
12,000
1,460
14
12,720
103,358
10,558
13,981
11,503
18
1,680
1,783
103
1,458
1,934
17
1,441
1,458
1,990
149
149
1,777
1,777
133
133
1,964
1,964
1,857
1,816
107
148
1,618
14
1,276
1,549
17,333
17,333
17,333
17,333
1,862
1,799
12,115
12,115
1,443
1,379
14,519
14,519
10,250
1,140
1,140
1,140
1,140
1,198
10,802
10,990
141
121
10.9
141
134
141
134
125
141
15
15
1,970
144
152
152
174
166
1,466
15
15
1,936
144
152
152
165
166
1,391
1.0
10,651
110,467
110,436
10.0
15,000
10,651
13,852
10.0
10.0
10.0
12
1.5
10.0
100
160
181
10.1
160
181
10.2
18
10.1
14.2
110,691
110,467
110,691
110,436
110,691
118
194
12
169
1,000,000
1,800
168
1,000,000,000
12,000
129
182
14
14
143
196
107
109
190
1,121
10
149,931
18.48
1,671
1,904
1,530
193
193
110,691
194
1,196
1,649
1,632
157
1,107
1,647
12,463
12,463
1,972
127
1,911
1,996
1
176
1,105
18,552
1,247
1,276
14,269
11,054
16
1,057
176
12,955
13,228
1,947
1,692
1,935
184
181
150
14,891
1,258
1,549
10,135
1,198
12,679
100
1,000
We found 137 numbers that start with the digit 2. Here they are:
2,902
2,260
2,340
21,940
22,789
254
2,182
240,593
246,512
28,941
20,008
2,134
286
23
26,443,764
26,443,764
2,701
2,814
2,701
23,836,706
237
2,701
23,836,706
237
2,701
282,171
274,692
29,513,563
294
2,701
29,513,563
294
2,701
2,125
2,839
232
2,263
2,603
2,902
2,973
208
2,902
23
26,443,764
26,443,764
21,848
23
23
2,401
23
23
23
2,401
2,654
20
2,078
2,468
2,468
2,468
24,595
23,319
2,150
2,150
21,940
22,789
2,140
2,279
2,182
2,279
237
233
2,902
2,478
274,692
25,000
21
224
255
2,798
2,839
2,767
2,973
23,000
2,814
282,171
2.16
20
26
2
229
227
208
208
227
21,817
22,748
2,334
2,103
226
28,668
207
273
207
273
28,941
29,911
27,411
28,941
28,004
26,607
2,334
28,941
2,797
2,767
20,000
2,978
22
2,036
218
207
2,250
2,381
2
2,134
2,548
2,318
241
2,103
294
202
244
273
28,941
2,213
26
2
27,570
We found 129 numbers that start with the digit 3. Here they are:
31,561
31,115
39,145
3,615
3,305
3,230
348,752
348,560
31,815
313
3,004
3,079
3,997
3.43
3.91
3.43
3.91
348,560
348,752
319,421
378,653
319,421
378,653
3
3
376
379
332,165
332,165
31
313
31
31
3,662
3,500
3,504
379
3,997
3,997
3.43
3.91
3.43
3.91
39,774
39,774
329,533
3,206,826
39,391
39,391
30,790
3,750
3,750
3,750
39,391
31,561
31,115
374
33,066
31,434
31,434
33,052
33,066
3,319
3,382
3,729
355
355
355
355
30,853
30,004
3,082
3,819
3,805
3,019
30
30
390
3,205
369
3,305
341
3,230
3,305
3,230
3,305
379
313
36,000
3,982
3,979
36,000
35,954
36,000
35,947
31
31
3,004
3
3
3
35
347
3
385
3
3
3,104
31,608
31,815
31,815
3,811
31,815
32
3,750
3,959
3,375
3,375
31,815
351
360
3,004
3,401
340
3,049
3,049
3,892
3,151
313
4's 5's 6's
We found 110 numbers that start with the digit 4. Here they are:
47,560,952
4,362
4,682
4,757
40,234
42,575
42,575
4,844
430
403
47,560,952
47,556,267
475
475
475,343
479,363
4,564
4,339
4,728
4,283
41
4,020
48
48
47,458,076
47,466,658
47,556,267
475
479,363
4
4
4,020
4,020
47,560,952
475
475,343
476
479
482,011
482,011
4,020
41
4,870
40,589
446
424
4
44,334
4
479
4,362
4,003
4,020
47,458,076
47,466,658
48
48
4,485,881
4,272,180
45,192
45,000
423
423
45,000
45,000
44,684
44,684
45,000
45,000
4,682
4,757
41
4,081
4,639
4,269
4,066
40
42,575
42,575
42,575
42,575
478
469
4,362
4,000
4,000
46
418
41
4,339
4
479
44
43
419
455
449,793
4,790
403
403
48,750
45,000
454
4,687
4,283
465
4,279
4,101
4,564
4,339
We found 52 numbers that start with the digit 5. Here they are:
5,230
5,283
58,995
58,995
5,555,555
56
536
5,281
5,682
5,682
5,878,792
519
519
538
538
54
54
5,181
5,181
52,793
52,793
590
559
597
566
574
566
574
577
50,000
5.0
53
536
5,555,555
50
50
51
516
599,724
5,230
5,230
500
54.3
5,164
537
508
5,224
5,283
5,745
550
52
505
We found 45 numbers that start with the digit 6. Here they are:
6,349
662
678,165
67
670
6,131
60
6,131
62
67
608
652
652
652
652
605
6
620
620
620
620
620
62,691
62,531
62,691
62,510
62,691
62,531
62,691
62,510
678,165
66
69
6
683
672
6,349
6,349
6.68
6,269
6,395
6,269
6,395
633
6,055
7's 8's 9's
We found 39 numbers that start with the digit 7. Here they are:
7,151
7,362
7,951
75
76
7,499
7
7
75
76
75
713
713
7,748
7,867
7,444
7,148
7,138
75
707
771
70
796
70
75
76
7,151
7,151
7,151
795
7,499
71.4
7,672
7,879
7,536
75
79
78
76
We found 43 numbers that start with the digit 8. Here they are:
8,471
8,115
833
802
8,582
8,933
890
8,307
85
80,622
8,582
8,582
8,601
807
80
850
8,471
8,115
8,034
8,386
849
812
830
899
89
899
8.10
8,000
8,000
8,000
8,000
87
891
811
861
8
8,098
8,098
85
8
890
8
843
We found 36 numbers that start with the digit 9. Here they are:
97
96,056
96,159
987
90,638
9,284
964
90,638
999,540
999,540
9,800
9,800
98,487
90,620
90,638
96,056
96,159
90,638
9,880
920
9
9.9
9
926
97
93
940
940
964
913
9.24
9,716
958
9
94
987
While the above AREN 10Q Filed 5/15/2025 is interesting in isolation, we have found that it is also useful to take a look at older Arena Group Holdings, Inc. filings processed by our Benford's Law Stocks algorithm, to see how the company's filings "typically look" on a Benford's Law analysis. Below we repeat the 10Q Filed 5/15/2025 but instead of the chart comparing against the typical company across our coverage universe, below we show the same chart compared against the typical AREN 10Q and 10K filings that we have processed historically. This is followed by similar charts for each of those historical filings.

29.3
16.4
15.4
13.2
6.2
5.4
4.7
5.1
4.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 91
XBRL?   [ original filing ]
Total numbers found: 836

= Typical AREN range from 4/1/2024 to 5/15/2025
29.0
18.7
14.5
8.8
8.4
7.8
4.4
4.9
3.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 96
XBRL?   [ original filing ]
Total numbers found: 1,141

= Typical AREN range from 4/1/2024 to 5/15/2025
31.3
15.9
15.1
10.2
8.6
6.1
4.7
3.8
4.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 98
XBRL?   [ original filing ]
Total numbers found: 1,290

= Typical AREN range from 4/1/2024 to 5/15/2025
29.1
21.1
12.8
10.6
6.7
6.9
5.8
2.9
4.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 87
XBRL?   [ original filing ]
Total numbers found: 875

= Typical AREN range from 4/1/2024 to 5/15/2025
29.7
17.2
14.8
9.9
7.7
5.8
5.3
5.1
4.4
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 99
XBRL?   [ original filing ]
Total numbers found: 1,168

= Typical AREN range from 4/1/2024 to 5/15/2025
31.3
18.3
13.0
8.2
8.6
6.7
5.1
3.2
5.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 79
XBRL?   [ original filing ]
Total numbers found: 1,385

= Typical AREN range from 4/1/2024 to 5/15/2025
 

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