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10-K

Annual Report

Angel Studios, Inc. ANGX

0001865200-26-000020

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Filed
Mar 12, 2026 12:00 AM ET
Period of report
Restated figures. One or more values in this filing restate previously reported amounts.

On SEC.gov

Financials in this filing

Metric Period Value
Shares Diluted FY 2025 · Dec 31, 2025 155.25M sh
Shares Diluted FY 2025 · Dec 31, 2024 137.99M sh
Shares Diluted FY 2025 · Dec 31, 2023 139.87M sh
Shares Outstanding FY 2025 · Dec 31, 2025 169.1M sh
Shares Outstanding FY 2025 · Dec 31, 2024 144.4M sh
Stock Repurchased FY 2025 · Dec 31, 2025 $437.79K
Stock Repurchased FY 2025 · Dec 31, 2024 $706.65K
Stock Repurchased FY 2025 · Dec 31, 2023 $107.07K
Operating Cash Flow FY 2025 · Dec 31, 2025 −$83.33M
Operating Cash Flow restated FY 2025 · Dec 31, 2024 −$51.3M
Operating Cash Flow restated FY 2025 · Dec 31, 2023 $15.19M
Long Term Debt FY 2025 · Dec 31, 2025 $45.5M
Cash And Equivalents FY 2025 · Dec 31, 2025 $44.08M
Cash And Equivalents FY 2025 · Dec 31, 2024 $7.21M
Current Liabilities FY 2025 · Dec 31, 2025 $219M
Current Liabilities restated FY 2025 · Dec 31, 2024 $80.06M
Total Liabilities FY 2025 · Dec 31, 2025 $267.19M
Total Liabilities restated FY 2025 · Dec 31, 2024 $94.67M
Current Assets FY 2025 · Dec 31, 2025 $134.88M
Current Assets restated FY 2025 · Dec 31, 2024 $52.95M
Total Assets FY 2025 · Dec 31, 2025 $241.41M
Total Assets restated FY 2025 · Dec 31, 2024 $111.38M
Eps Diluted FY 2025 · Dec 31, 2025 −$1.10
Eps Diluted FY 2025 · Dec 31, 2024 −$0.64
Eps Diluted FY 2025 · Dec 31, 2023 $0.10
Eps Basic FY 2025 · Dec 31, 2025 −$1.10
Eps Basic FY 2025 · Dec 31, 2024 −$0.64
Eps Basic FY 2025 · Dec 31, 2023 $0.10
Sga Expense FY 2025 · Dec 31, 2025 $37.87M
Sga Expense FY 2025 · Dec 31, 2024 $22.28M
Sga Expense FY 2025 · Dec 31, 2023 $18.12M
Rd Expense FY 2025 · Dec 31, 2025 $15.53M
Rd Expense FY 2025 · Dec 31, 2024 $12.84M
Rd Expense FY 2025 · Dec 31, 2023 $9.7M
Net Income FY 2025 · Dec 31, 2025 −$170.48M
Net Income restated FY 2025 · Dec 31, 2024 −$88.27M
Net Income restated FY 2025 · Dec 31, 2023 $13.36M
Operating Income FY 2025 · Dec 31, 2025 −$164.11M
Operating Income restated FY 2025 · Dec 31, 2024 −$86.72M
Operating Income restated FY 2025 · Dec 31, 2023 $12.36M
Cost Of Revenue FY 2025 · Dec 31, 2025 $124.86M
Cost Of Revenue FY 2025 · Dec 31, 2024 $44.36M
Cost Of Revenue FY 2025 · Dec 31, 2023 $86.03M
Revenue FY 2025 · Dec 31, 2025 $321.56M
Revenue FY 2025 · Dec 31, 2024 $96.52M
Revenue FY 2025 · Dec 31, 2023 $202.44M