Angel Studios Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Revenue	186.23	96.52	202.44	75.52
Revenue Growth	-10.61%	-52.32%	168.07%	-
Cost of Revenue	65.6	42.07	86.03	40.39
Gross Profit	120.63	54.45	116.4	35.12
Selling, General & Admin	198.53	117.49	92.3	31.31
Research & Development	13.33	14.36	13.91	12.35
Other Operating Expenses	8.27	9.15	2.04	5.87
Total Operating Expenses	220.14	141.01	108.25	49.52
Operating Income	-99.5	-86.56	8.15	-14.4
Interest Income	4.2	3.49	1.82	0.61
Interest Expense	-5.16	-2.37	-3.66	-0.69
Other Non-Operating Income (Expense)	-0.5	-1	-	-
Total Non-Operating Income (Expense)	-1.46	0.12	-1.84	-0.08
Pretax Income	-97.81	-86.43	6.31	-14.48
Provision for Income Taxes	7.94	3.53	-2.7	-0.77
Net Income	-105.75	-89.97	9.01	-13.71
Minority Interest in Earnings	-0.09	-0.17	-0.15	-
Net Income to Common	-105.66	-89.8	9.16	-13.71
Net Income Growth	-	-	-	-
Shares Outstanding (Basic)	86	26	25	24
Shares Outstanding (Diluted)	86	26	26	24
Shares Change	234.56%	-0.53%	6.86%	-
EPS (Basic)	-1.62	-3.48	0.37	-0.56
EPS (Diluted)	-1.62	-3.48	0.35	-0.56
EPS Growth	-	-	-	-
Free Cash Flow	-53.51	-60.54	5.34	-12.8
Free Cash Flow Growth	-	-	-	-
Free Cash Flow Per Share	-0.62	-2.35	0.21	-0.53
Gross Margin	64.77%	56.42%	57.50%	46.51%
Operating Margin	-53.43%	-89.68%	4.03%	-19.06%
Profit Margin	-56.78%	-93.21%	4.45%	-18.16%
FCF Margin	-28.73%	-62.72%	2.64%	-16.95%
EBITDA	-95.9	-84.87	9.74	-13.28
EBITDA Margin	-51.50%	-87.94%	4.81%	-17.58%
EBIT	-99.5	-86.56	8.15	-14.4
EBIT Margin	-53.43%	-89.68%	4.03%	-19.06%
Effective Tax Rate	-8.12%	-4.09%	-42.72%	5.29%