Angel Studios Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Cash & Equivalents	38.88	44.08	7.21	25.2
Cash & Short-Term Investments	38.88	44.08	7.21	25.2
Cash Growth	174.06%	511.26%	-71.38%	-
Accounts Receivable	40.63	60.82	25.02	31.99
Other Receivables	1.38	1.37	0.75	0.71
Total Trade Receivables	42	62.19	25.77	32.7
Inventory	1.38	1.26	1.71	2.84
Other Current Assets	29.35	27.34	18.26	4.32
Total Current Assets	111.62	134.88	52.95	65.06
Net Property, Plant & Equipment	3.51	3.95	3.52	2.5
Other Intangible Assets	22.62	23.43	3.63	3.38
Long-Term Investments	46	46.01	9.07	4.5
Other Long-Term Assets	29.34	33.14	29.36	22.82
Total Assets	213.09	241.41	98.52	98.26
Accounts Payable	25.79	39.96	7.93	3.17
Accrued Expenses	45.9	55.75	28.44	32.26
Current Portion of Long-Term Debt	40.47	55.47	11.46	4.16
Current Portion of Leases	1.32	1.28	0.67	0.36
Unearned Revenue	74.69	66.53	22.17	3.92
Other Current Liabilities	-	-	9.39	0.25
Total Current Liabilities	188.17	219	80.06	44.12
Long-Term Debt	61.8	41.69	-	-
Long-Term Leases	1.71	2.06	2.15	0.96
Other Long-Term Liabilities	2.86	4.44	12.46	13.5
Total Long-Term Liabilities	66.38	48.19	14.61	14.46
Total Liabilities	254.55	267.19	94.67	58.58
Common Stock	0.02	0.02	0.03	0.02
Additional Paid-in Capital	214.03	210.08	95.47	49.88
Retained Earnings	-255.34	-241.53	-99.87	-10.07
Total Common Shareholders' Equity	-41.29	-31.43	-4.37	39.83
Minority Interest	-0.17	5.65	8.22	-0.15
Shareholders' Equity	-41.46	-25.78	3.85	39.68
Total Liabilities & Equity	213.09	241.41	98.52	98.26
Total Debt	105.31	100.51	14.28	5.49
Net Cash (Debt)	-66.43	-56.43	-7.07	19.72
Net Cash Per Share	-0.39	-0.33	-0.27	0.76
Book Value	-41.29	-31.43	-4.37	39.83
Book Value Per Share	-0.24	-0.19	-0.17	1.54
Tangible Book Value	-63.91	-54.87	-8	36.45
Tangible Book Value Per Share	-0.38	-0.32	-0.31	1.41