Angel Studios, Inc. (ANGX)

Angel Studios Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Net Income	-105.86	-89.97	9.01	-13.71
Depreciation & Amortization	3.6	1.68	1.58	1.12
Stock-Based Compensation	6.89	3.64	1.03	1.5
Other Adjustments	3.65	3.45	2.73	4.56
Change in Receivables	-5.32	5.97	-38.47	3.25
Changes in Inventories	1.65	1.13	-2.34	1.37
Changes in Accounts Payable	18.28	13.46	4.75	-12.93
Changes in Accrued Expenses	-4.36	-11.35	31.85	3.09
Changes in Unearned Revenue	32.42	18.25	3.29	-1.05
Changes in Other Operating Activities	-5.62	-6.5	-7.51	1.13
Operating Cash Flow	-53.34	-60.23	5.91	-11.66
Capital Expenditures	-0.18	-0.3	-0.57	-1.14
Purchases of Intangible Assets	-6.45	-	-	-
Purchases of Investments	-0.58	-0.62	-0.12	-
Proceeds from Sale of Investments	1.42	2.29	-	-
Other Investing Activities	-9.16	-5.27	0	-2.36
Investing Cash Flow	-15.2	-3.91	-0.69	-3.5
Long-Term Debt Issued	57.6	23.75	28.91	2
Long-Term Debt Repaid	-33.3	-18.63	-26.98	-0.21
Net Long-Term Debt Issued (Repaid)	24.29	5.12	1.93	1.79
Issuance of Common Stock	63.66	33.44	7.74	0.26
Repurchase of Common Stock	-0.73	-0.71	-0.11	-0.43
Net Common Stock Issued (Repurchased)	62.93	32.73	7.63	-0.17
Other Financing Activities	-8.26	8.3	-0.31	-
Financing Cash Flow	91.83	46.15	9.25	1.62
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-0	-0	0	-
Net Cash Flow	23.61	-17.99	14.48	-13.54
Free Cash Flow	-53.51	-60.54	5.34	-12.8
FCF Margin	-28.73%	-62.72%	2.64%	-16.95%
Free Cash Flow Per Share	-0.46	-2.35	0.21	-0.53
Levered Free Cash Flow	-35.56	-68.31	42.13	-20.32
Unlevered Free Cash Flow	-61.78	-73.73	42.68	-22.04

Updated Apr 30, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.