The Arena Group Holdings, Inc.

Good afternoon, ladies and gentlemen. Thank you for joining us today. Welcome to the Arena Group's fourth quarter and full year 2025 earnings conference call. I would now like to turn the conference over to Morgan Fitzgerald, Investor Relations, Social Media. Ms. Fitzgerald, you may begin the conference.

Thank you. Hosting the call today are Paul Edmondson, Chief Executive Officer, and Jeffrey Waite, Principal Financial Officer. Before we begin, I'd like to note that some of the comments made during this call may include forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements relate to the future events or future performance and include, without limitation, statements concerning the company's business strategy, future revenues, market growth, capital requirements, product introductions, and expansion plans, and the adequacy of the company's funding. The company cautions investors that any forward-looking statements made in this call or that the company may make orally or in writing from time to time are based on the beliefs of, assumptions made by, and information currently available to the company. Such statements are based on assumptions, and the actual outcome will be affected by known and unknown risks, trends, uncertainties, and factors that are beyond the company's control or ability to predict. 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. Certain risks are discussed in the company's filings with the SEC. The company disclaims any intention or obligation, except as required by law, to update or revise any financial projections or forward-looking statements, whether because of new information, future events, or otherwise. In addition, reference will be made to the non-GAAP financial measure, adjusted EBITDA. Information regarding reconciliation of this non-GAAP measure to the closest GAAP measure can be found in the press release that was issued this afternoon and can be also found on our investor relations website at investors.thearenagroup.net. With that, I'd like to turn the call over to CEO Paul Edmondson. Paul, the call is yours.

Thank you for joining us today to discuss our results from the fourth quarter and full fiscal year 2025. We're proud to report our 2025 results with $28.6 million of income from continuing operations, and we reduced our debt by $23.5 million, while our cash balance grew nearly $6 million to $10.3 million. Before we get into the details, I want to highlight the broader industry dynamics that have shaped the digital publishing landscape. The recent search algorithm updates have introduced fluctuations in traffic patterns across the digital media industry, impacting not only the Arena Group, but virtually all major publishers. We view these changes favorably as a catalyst for innovation and growth. We believe our team has responded with agility and determination, implementing robust strategies to optimize our content for the evolving landscape by simultaneously accelerating our efforts to diversify revenue streams. We are actively expanding our direct audience engagement, strengthening partnerships, and investing in alternative channels that are less reliant on algorithmically driven traffic. These initiatives are already yielding positive momentum. and we expect them to drive sustainable growth going forward. We are more confident than ever in our ability to outperform the market. Our disciplined operational model, ongoing cost optimization, and strategic investments in technology and product have positioned us to capitalize on emerging opportunities. We believe our diversified business model not only mitigates risk, but also sets the stage for long-term value creation. As the industry evolves, the Reuner Group stands ready to lead, innovate, and deliver exceptional results for our shareholders. Now, Jeff Waite, our principal financial officer, will walk you through our financial results from Q4 and the 2025 fiscal year.