Angel Studios Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	44.08	7.21	25.2	10.72	24.26
Cash & Short-Term Investments	44.08	7.21	25.2	10.72	24.26
Cash Growth	511.26%	-71.38%	135.05%	-55.80%	-
Accounts Receivable	51.12	16.23	24.14	7.19	10.44
Other Receivables	9.7	8.79	7.85	-	-
Receivables	62.19	25.77	32.7	9.38	11.8
Inventory	1.26	1.71	2.84	0.5	1.87
Prepaid Expenses	13.52	6.8	4.32	1.62	3.71
Other Current Assets	13.83	11.46	-	-	-
Total Current Assets	134.88	52.95	65.06	22.22	41.63
Property, Plant & Equipment	3.95	3.52	2.5	3.28	0.71
Long-Term Investments	46.01	9.07	4.5	2.77	0.96
Other Intangible Assets	23.43	16.48	3.38	3.29	2.93
Long-Term Deferred Tax Assets	-	-	4	-	-
Other Long-Term Assets	29.2	25.12	14.32	3.08	8.11
Total Assets	241.41	111.38	98.26	39.39	59.31
Accounts Payable	39.96	7.93	3.17	1.02	1.27
Accrued Expenses	55.75	28.44	30.97	6.89	16.48
Short-Term Debt	-	9.11	4.16	2	-
Current Portion of Long-Term Debt	55.47	11.46	-	-	-
Current Portion of Leases	1.28	0.67	0.36	0.65	-
Current Income Taxes Payable	-	-	1.28	-	-
Current Unearned Revenue	66.53	22.17	3.92	0.63	1.68
Other Current Liabilities	-	0.28	0.25	0.23	0.21
Total Current Liabilities	219	80.06	44.12	11.43	19.64
Long-Term Debt	41.69	-	-	-	-
Long-Term Leases	2.06	2.15	0.96	1.33	-
Long-Term Deferred Tax Liabilities	-	-	-	-	0.43
Other Long-Term Liabilities	4.44	12.46	13.5	4.63	4.86
Total Liabilities	267.19	94.67	58.58	17.39	24.93
Common Stock	0.02	0.01	0.02	0.02	0.02
Additional Paid-In Capital	210.08	95.49	49.88	41.22	39.54
Retained Earnings	-241.53	-87.01	-10.07	-19.24	-5.19
Total Common Equity	-31.43	8.49	39.83	22	34.38
Minority Interest	5.65	8.22	-0.15	-	-
Shareholders' Equity	-25.78	16.71	39.68	22	34.38
Total Liabilities & Equity	241.41	111.38	98.26	39.39	59.31
Total Debt	100.51	23.4	5.49	3.98	-
Net Cash (Debt)	-56.43	-16.18	19.72	6.74	24.26
Net Cash Growth	-	-	192.58%	-72.22%	-
Net Cash Per Share	-0.36	-0.12	0.14	0.28	0.99
Filing Date Shares Outstanding	169.51	27.44	25.01	24.99	22.67
Total Common Shares Outstanding	169.1	26.99	24.99	24.27	22.67
Working Capital	-84.12	-27.11	20.94	10.79	21.99
Book Value Per Share	-0.19	0.31	1.59	0.91	1.52
Tangible Book Value	-54.87	-8	36.45	18.71	31.45
Tangible Book Value Per Share	-0.32	-0.30	1.46	0.77	1.39
Machinery	2.82	2.43	2.32	1.72	1.11
Leasehold Improvements	0.56	0.45	0.42	0.59	0.24

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.