Angel Studios Balance Sheet

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	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	63.33	7.21	25.2	10.72	24.26
Cash & Short-Term Investments	63.33	7.21	25.2	10.72	24.26
Cash Growth	458.26%	-71.38%	135.05%	-55.80%	-
Accounts Receivable	24.68	16.23	24.14	7.19	10.44
Other Receivables	8.7	8.79	7.85	-	-
Receivables	34.81	25.77	32.7	9.38	11.8
Inventory	1.54	1.71	2.84	0.5	1.87
Prepaid Expenses	9.62	9.15	4.32	1.62	3.71
Other Current Assets	13.79	9.11	-	-	-
Total Current Assets	123.08	52.95	65.06	22.22	41.63
Property, Plant & Equipment	3	3.52	2.5	3.28	0.71
Long-Term Investments	14.58	9.07	4.5	2.77	0.96
Other Intangible Assets	11.85	3.63	3.38	3.29	2.93
Long-Term Deferred Tax Assets	-	-	4	-	-
Other Long-Term Assets	40.47	25.12	14.32	3.08	8.11
Total Assets	197	98.52	98.26	39.39	59.31
Accounts Payable	11.07	7.93	3.17	1.02	1.27
Accrued Expenses	41.65	28.44	30.97	6.89	16.48
Short-Term Debt	-	20.57	4.16	2	-
Current Portion of Leases	0.75	0.67	0.36	0.65	-
Current Income Taxes Payable	-	-	1.28	-	-
Current Unearned Revenue	50.68	22.17	3.92	0.63	1.68
Other Current Liabilities	-	0.28	0.25	0.23	0.21
Total Current Liabilities	113.15	80.06	44.12	11.43	19.64
Long-Term Leases	1.57	2.15	0.96	1.33	-
Long-Term Deferred Tax Liabilities	-	-	-	-	0.43
Other Long-Term Liabilities	3.37	12.46	13.5	4.63	4.86
Total Liabilities	159.83	94.67	58.58	17.39	24.93
Common Stock	0.02	0.03	0.02	0.02	0.02
Additional Paid-In Capital	207.27	95.47	49.88	41.22	39.54
Retained Earnings	-175.76	-99.87	-10.07	-19.24	-5.19
Total Common Equity	31.52	-4.37	39.83	22	34.38
Minority Interest	5.65	8.22	-0.15	-	-
Shareholders' Equity	37.17	3.85	39.68	22	34.38
Total Liabilities & Equity	197	98.52	98.26	39.39	59.31
Total Debt	53.06	23.4	5.49	3.98	-
Net Cash (Debt)	10.27	-16.18	19.72	6.74	24.26
Net Cash Growth	97.87%	-	192.58%	-72.22%	-
Net Cash Per Share	0.28	-0.63	0.76	0.28	0.99
Filing Date Shares Outstanding	168.63	26.99	25.01	24.99	22.67
Total Common Shares Outstanding	168.63	26.99	24.99	24.27	22.67
Working Capital	9.93	-27.11	20.94	10.79	21.99
Book Value Per Share	0.19	-0.16	1.59	0.91	1.52
Tangible Book Value	19.67	-8	36.45	18.71	31.45
Tangible Book Value Per Share	0.12	-0.30	1.46	0.77	1.39
Machinery	-	2.43	2.32	1.72	1.11
Leasehold Improvements	-	0.45	0.42	0.59	0.24

Source: S&P Capital IQ. Standard template. Financial Sources.