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 11/13/2025 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.
29.9
15.8
14.4
12.4
6.3
6.1
3.5
7.0
4.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
XBRL?   [ original filing, AREN stockholder letter ]
Total numbers found: 1,218
Recent share count: 47,465,749 (4's column)

= Typical range across full coverage universe
Benford's Law Stocks Indicator
1218
High count compared to other filers, with AREN falling in the highest quartile of filers. At this number count, it would take about 12 numbers to move any given column by a full percentage point.
77

Starting from a possible score of 100, we made the following score deductions:
 • We deducted point 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 point upon observing the 5's percentage was below the typical coverage universe range.
 • We deducted point upon observing the 7's percentage was below the typical coverage universe range.
 • We deducted point upon observing the 7'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.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 8's percentage was above the typical coverage universe range.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 8's percentage was above the company's typical historical range.
Benford's Law Stocks Indicator
AREN
Normal-to-low score compared to other filers, falling within the bottom of the middle 50%.
ADT
ALIT
CIEN
DINO
AGL
AOS
BXP
COUR
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 364 numbers that start with the digit 1. Here they are:
12,523
148
10,603
140
151
121,360
116,352
10,990
17,809
122,256
1,964
10,651
110,531
110,436
131,582
1,000
1,800
168
168
168
168
168
168
1,000,000,000
10,390
130,328
121,360
116,352
106,587
1,444
1,474
14,833
16,562
14,927
16,993
1,342
10,326
14,696
1,198
11,747
12,289
14,764
116
14,880
119,524
107,589
14
13
14
11
14
13
14
11
17,328
13,695
12
12
10,390
130,328
119,524
119,524
10,390
157,201
17,797,817
178
14,822
15,000
1
1
12,821
11
11
137,479
17,797,817
178
14,822
15,000
11,944
12,000
107,589
107,589
137,479
119,524
107,589
186
1,269
19
17,051
1,165
11
17,145
1,683
1,000
12,000
16,100
10,651
10,679
12,523
15,000
12,523
14,880
119,524
107,589
19,551
174,894
14
13
14
11
14
13
14
11
160
1,367
15,006
115
140
12,142
1,783
12,046
1,783
100
1,000
1,458
1,934
1,359
1,458
119
149
1,777
1,777
133
133
1,964
1,964
1,903
1,816
148
15
186
10,603
1,444
1,474
17,333
17,333
17,333
17,333
1,989
1,799
13,115
12,115
1,570
1,379
14,519
14,519
10,250
1,140
1,140
1,140
1,140
1,198
148
1,418
10,990
10.90
10.85
140
150
140
150
125
140
15
15
144
102
152
152
192
166
1,619
15
15
1,936
144
152
152
165
166
1,391
1.0
12,523
10,651
110,531
110,436
10.0
15,000
10,651
13,852
10.0
1
10.0
10.0
12
1.5
10.0
100
10.1
114
181
10.2
13
13.7
10.0
110,691
160
110,531
110,691
110,436
189
1,706
113
13
11
11
11,747
1,000,000
1,800
168
1,000,000,000
13,695
12
12,821
11
15,000
17,797,817
12,000
13
16
10
10
109
10
119
12
123
121
135
10
135
10
127
131
17
17
119
10
14
167
181
1,176
1,212
10
1,457
10
149,931
18.48
17,946
1,492
1,807
1,733
14,220
14,563
105,642
1,550
106,587
101,215
1,396
1,690
106,587
1,807
16,110
106,587
13,309
100
1,000
110,691
1,741
1,485
1,499
1,934
1,900
1,233
1
1,205
1,352
1,480
1,541
1,773
1,618
130
18
17,023
1,444
1,342
10,462
11,425
1,806
149
150
1,444
105
12,974
13,234
1,862
1,625
1,795
1,446
157
1
19,749
1,198
1,474
14,931
17,531
15
1,602
1,465
127
128
106,587
191
1,784
1,748
1,133
18
18,125
14,696
10,574
17,945
13
1,757
1,697
1,950
1,610
18,964
12,255
18,964
12,255
137
126
1,720
1,482
17,161
12,195
14,324
10,326
11,747
1,198
14,764
1,000
1,000
We found 192 numbers that start with the digit 2. Here they are:
26,201
2,106
2,340
21,229
22,789
2,000
241
254
2,026
246,512
29,760
2,011
24,790
2,648
2,805
22,762
2,475
2,857
228
229
2,934
24,235
23,274
2.03
2.96
2.52
2.02
2.96
2.51
2,701
2,026
2,209
2,701
2,701
26,193
28
28
2,926
2,701
29,573,932
295
2,701
2,701
23,836,706
237
2,701
274,692
2,981
2,981
2,701
228
229
2,736
219
2
26,131
2,765
2,819
20,027
200
28
2,698
25
245
23,274
23,274
275,002
2.03
2.96
2.52
2.02
2.96
2.51
2,830,470
2,930,578
2,889,761
22,297
2,401
221
2,401
20
26,201
219
2,649
2,078
2,468
2,468
2,468
27,147
23,319
25
2,150
2,150
21,229
22,789
2,561
2,619
2,236
2,140
2,583
25
2,406
2,026
2,406
2,039
246
233
228
229
2,478
2,225
274,692
200
274,692
25,000
21
255
208
2,827
2,827
2,829
2,836
2,698
2,857
23,000
26,193
2,026
28
274,692
2.16
22
244
272
25
25
297
240
257
2,144
245
245
2,389
281
23,067
291
29,267
29,760
28,364
29,760
23,475
29,760
2,788
2,797
2,829
2,693
20,000
2,350
212
2,399
2,399
29,760
275
279
2,857
2,446
21
260
263
2,565
2,615
2,011
27,104
20,244
29,192
2,859
2,880
2
23,012
20,114
2,648
228
24,235
2,845
25
21,337
22,214
246
251
2,224
24,790
2,805
229
We found 176 numbers that start with the digit 3. Here they are:
31,115
380
3,458
3,230
344
348,974
348,560
359,839
33,555
3,828
36,644
3,213
39,119
33,269
313
3,159
3,236
304
3,956
3.44
3.44
37,610,058
31,291,641
37,610,058
31,291,641
348,901
366,704
348,974
359,839
348,560
348,974
359,839
332,702
3,956
3,956
348,289
319,421
378,653
303,598
3
3
376
379
348,289
313
35,069
360
3,511
379
3,956
37,610,058
31,291,641
37,610,058
31,291,641
3.44
3.44
39,774
39,774
39,774
39,774
30,800
3,190,015
3,190,015
3,016,634
39,391
3,750
39,391
30,790
3,750
3,750
39,391
3,190
3,750
31,115
374
318
37,750
31,434
31,434
37,725
37,750
3,828
3,192
3,382
3,729
355
355
355
355
32,564
30,004
3,805
3,458
30
390
308
374
308
3,204
380
3,458
341
3,230
3,458
3,230
3,458
379
313
36,000
3,987
3,979
36,000
33
35,967
36,000
35,947
32
30
32
30
315
302
3,159
3
38
38
3
38
3
3
31
34
387
3
383
3,047
3,377
33,031
33,555
31,865
33,555
31,748
33,555
344
3.97
315
3,750
373
3,213
3,585
3
3,248
33,555
39
323
313
3,675
3,159
3,516
37,348
30,411
37,476
30,418
30,002
3,534
3,090
3,576
3,828
30,149
3,714
35,574
36,246
3,039
396
3
313
4's 5's 6's
We found 151 numbers that start with the digit 4. Here they are:
47,465,749
4,362
4,757
44,646
40,234
42,575
42,575
4,844
4,470
430
403
47,578,485
47,556,267
475
475
479,363
4,530
4,818
40
4,778
49
48
49
48
47,392,059
47,387,929
47,695,194
47,578,619
47,564,607
475
47,578,485
475
47,556,267
475
479,363
442
442
47,578,485
475
490,198
47,448,047
474
486,242
494
497
47,448,047
474
486,242
40,589
414
4,695
4,627
4,171
46,622
422
445
497
4,362
4,778
47,392,059
47,387,929
47,695,194
47,578,619
49
48
49
48
4,035
4,342,053
4,342,053
45
45,107
46,474
48,971
46,060
49,776
45,107
45,000
423
45,000
44,684
45,000
423
44,684
45,000
45,000
4,757
4,530
4,798
4,269
4,066
422
422
422
422
42,575
42,575
42,575
42,575
496
426
469
4,362
4
4,000
4,000
418
440
497
45
45
42
417
442
4
485
488
4
488
4
449,793
4,642
4,043
4,711
493
4,334
4,470
403
4.63
48,750
45,000
4,875
4
414
449
4,586
432
46
4,909
4,805
4,818
4,627
4,552
4,396
4,918
46
4
40,106
4,912
49,120
4,530
We found 77 numbers that start with the digit 5. Here they are:
5,922
50,556
53,035
56,031
5,418
5,432
58,995
5,555,555
56
52,999
54
561
5,773
517
5,682
5,682
5,682
5,682
567
519
592
561
519
59
5,922
54
54
56
5,181
5,181
580
5,379
53,793
52,793
590
559
596
566
574
566
574
577
53
50,000
5.0
53
552
5,555,555
54
567
599,724
5,511
5,495
5,256
524
5,372
5,214
5,511
54.3
5,318
502
5,822
5,920
5,612
5,844
5,844
594
5,273
5,659
571
5,418
5,497
586
5,884
5,423
5,440
5,722
We found 74 numbers that start with the digit 6. Here they are:
61
6,349
6,023
6,561
6,865
6,865
6,865
6,865
6,901
6,389
626
6,131
647
612
6,291
6,815
6,865
6,865
6,865
6
6,131
686
62
61
6,291
608
682
682
652
652
652
652
662
6
620
620
620
620
620
62,691
62,577
62,691
62,510
626
6,901
60
60
60
658
66,534
6,117
6,285
6,349
6,268
683
695
6,561
631
641
6
6,360
6,023
6,577
6,601
6,651
634
6,353
6,024
659
64,341
661
672
6,898
63,884
7's 8's 9's
We found 43 numbers that start with the digit 7. Here they are:
7,260
77
77
777
777
70
70
7,507
7,291
7,214
7,291
707
7,701
771
7,260
798
70
796
70
77
77
7
732
749
787
789
71,456
761
79
7
71.4
7
709
75
723
77
7,005
7,209
7,005
7,472
77
7
7,867
We found 85 numbers that start with the digit 8. Here they are:
8,115
872
802
8,582
89,679
877
8,939
8,054
8,806
822
85
85
89,119
836,259
87
8,423
8,161
8,722
85
822
8,582
8,582
8,582
8,582
88,660
88,660
805
822
822
8,601
807
850
87
8,115
8,317
8,386
862
849
899
899
89
899
8.10
8,000
8,000
8,000
8,000
8,423
8,423
8,394
8,722
8,806
89,119
836,259
84
86
86
82
88,129
89,679
84,465
89,679
84,168
89,679
828
83
8,394
863
80
8,215
8,290
877
803
84
8,691
810
8,691
8,806
855
883
88
877
89,679
8,651
805
We found 56 numbers that start with the digit 9. Here they are:
96,159
905
9,495
9,034
961
96,250
92,709
9
9
9,550
95
93
923
9,284
96,250
92,709
999,540
999,540
9,800
9,800
9,800
9,800
99,994
96,250
92,703
96,250
92,709
96,159
96,250
92,709
91
9,788
9,140
916
940
940
95
95
922
922
99
9.24
945
90,477
910
9,219
9,434
9,223
9,848
905
958
931
963
91
905
906
While the above AREN 10Q Filed 11/13/2025 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 11/13/2025 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.

29.9
15.8
14.4
12.4
6.3
6.1
3.5
7.0
4.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 77
XBRL?   [ original filing ]
Total numbers found: 1,218

= Typical AREN range from 4/1/2024 to 11/13/2025
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 11/13/2025
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: 88
XBRL?   [ original filing ]
Total numbers found: 875

= Typical AREN range from 4/1/2024 to 11/13/2025
28.6
17.6
13.9
12.4
7.2
6.0
4.5
5.1
4.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 98
XBRL?   [ original filing ]
Total numbers found: 1,225

= Typical AREN range from 4/1/2024 to 11/13/2025
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 11/13/2025
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: 81
XBRL?   [ original filing ]
Total numbers found: 1,385

= Typical AREN range from 4/1/2024 to 11/13/2025
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: 93
XBRL?   [ original filing ]
Total numbers found: 836

= Typical AREN range from 4/1/2024 to 11/13/2025
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 11/13/2025
 

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