Angel Studios Inc Financials
This page shows Angel Studios Inc (ANGX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Angel Studios Inc passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
For every $1 of reported earnings, Angel Studios Inc generates $0.45 in operating cash flow (-$2.3M OCF vs -$5.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Angel Studios Inc earns $-5.8 in operating income for every $1 of interest expense (-$1.6M vs $275K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Angel Studios Inc reported -$5.1M in net income in fiscal year 2024. This represents a decrease of 287.1% from the prior year.
Angel Studios Inc held $7.2M in cash against $0 in long-term debt as of fiscal year 2024.
Angel Studios Inc had 144M shares outstanding in fiscal year 2024.
ANGX Income Statement
| Metric | Q3'25 | Q2'25 | Q3'24 | Q2'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $76.5M | N/A | $20.1M | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | $34.3M | N/A | $8.1M | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $42.2M | N/A | $12.0M | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $4.2M | N/A | $3.2M | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $10.1M | N/A | $6.1M | N/A | N/A | N/A | N/A | N/A |
| Operating Income | -$38.1M-11029.9% | -$342K+97.7% | -$15.1M-5163.4% | -$288K | N/A | -$138K | N/A | -$353K |
| Interest Expense | $4.0M | N/A | $452K | N/A | N/A | $136K | N/A | N/A |
| Income Tax | N/A | $277+100.3% | -$80K-262.1% | $49K | N/A | $143K | N/A | N/A |
| Net Income | -$38.6M-2378.2% | -$1.6M+88.8% | -$13.9M-2643.7% | -$505K | N/A | -$11K | N/A | $1.3M |
| EPS (Diluted) | $-0.25 | N/A | $-0.10 | N/A | N/A | N/A | N/A | N/A |
ANGX Balance Sheet
| Metric | Q3'25 | Q2'25 | Q3'24 | Q2'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $197.0M+23068.0% | $850K-99.1% | $98.5M+638.0% | $13.4M-71.5% | $46.9M+0.9% | $46.5M-80.5% | $238.3M+0.7% | $236.5M |
| Current Assets | $123.1M+29763.3% | $412K-99.2% | $52.9M+8420.8% | $621K-71.4% | $2.2M-7.8% | $2.4M+745.5% | $278K-47.7% | $533K |
| Cash & Equivalents | $63.3M+19171.3% | $329K-95.4% | $7.2M+1369.7% | $491K-98.1% | $25.2M+971.6% | $2.4M+4524.3% | $51K-70.7% | $173K |
| Inventory | $1.5M | N/A | $1.7M | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $24.7M | N/A | $16.2M | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $159.8M+1350.6% | $11.0M-88.4% | $94.7M+459.1% | $16.9M-66.3% | $50.3M+0.2% | $50.2M-79.1% | $239.7M+0.3% | $239.1M |
| Current Liabilities | $113.1M+2266.0% | $4.8M-94.0% | $80.1M+2041.7% | $3.7M-24.9% | $5.0M+3.5% | $4.8M+298.5% | $1.2M+61.9% | $746K |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $37.2M+465.5% | -$10.2M-19.6% | -$8.5M-137.4% | -$3.6M-5.7% | -$3.4M+8.7% | -$3.7M-154.9% | -$1.5M+43.0% | -$2.6M |
| Retained Earnings | -$175.8M-1516.4% | -$10.9M+89.1% | -$99.9M-2262.7% | -$4.2M-1.8% | -$4.2M-2.5% | -$4.0M-177.9% | -$1.5M+43.0% | -$2.6M |
ANGX Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q3'24 | Q2'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$58.1M-30142.6% | -$192K-100.5% | $37.3M+23917.2% | $155K+176.3% | -$203K-114.4% | $1.4M-2.7% | $1.4M+197.1% | $488K |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$15.6M-340744.9% | -$5K-100.0% | $43.6M+15377.4% | -$285K+50.5% | -$577K-100.3% | $198.0M+12023.6% | -$1.7M-110.9% | -$787K |
| Financing Cash Flow | $130.0M+75902.9% | $171K+100.2% | -$68.7M-70510.5% | $98K-83.7% | $600K | N/A | $88K | $0 |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ANGX Financial Ratios
| Metric | Q3'25 | Q2'25 | Q3'24 | Q2'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 55.1% | N/A | 59.7% | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -49.8% | N/A | -75.3% | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -50.4% | N/A | -68.9% | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -19.6%+163.4pp | -183.0%-80.7pp | -102.3%-98.5pp | -3.8% | N/A | -0.0% | N/A | 0.5% |
| Current Ratio | 1.09+1.0 | 0.09-0.6 | 0.66+0.5 | 0.17-0.3 | 0.44-0.1 | 0.49+0.3 | 0.23-0.5 | 0.71 |
| Debt-to-Equity | 4.30+5.4 | -1.08+10.1 | -11.14-6.4 | -4.73+10.1 | -14.83-1.3 | -13.52+151.1 | -164.58-71.1 | -93.49 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$8.5M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.66), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Frequently Asked Questions
Is Angel Studios Inc profitable?
No, Angel Studios Inc (ANGX) reported a net income of -$5.1M in fiscal year 2024.
What is Angel Studios Inc's operating cash flow?
Angel Studios Inc (ANGX) generated -$2.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Angel Studios Inc's total assets?
Angel Studios Inc (ANGX) had $98.5M in total assets as of fiscal year 2024, including both current and long-term assets.
How many shares does Angel Studios Inc have outstanding?
Angel Studios Inc (ANGX) had 144M shares outstanding as of fiscal year 2024.
What is Angel Studios Inc's current ratio?
Angel Studios Inc (ANGX) had a current ratio of 0.66 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Angel Studios Inc's debt-to-equity ratio?
Angel Studios Inc (ANGX) had a debt-to-equity ratio of -11.14 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Angel Studios Inc's return on assets (ROA)?
Angel Studios Inc (ANGX) had a return on assets of -5.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Angel Studios Inc's cash runway?
Based on fiscal year 2024 data, Angel Studios Inc (ANGX) had $7.2M in cash against an annual operating cash burn of $2.3M. This gives an estimated cash runway of approximately 38 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Angel Studios Inc's debt-to-equity ratio negative or unusual?
Angel Studios Inc (ANGX) has negative shareholder equity of -$8.5M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Angel Studios Inc's Piotroski F-Score?
Angel Studios Inc (ANGX) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Angel Studios Inc's earnings high quality?
Angel Studios Inc (ANGX) has an earnings quality ratio of 0.45x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Angel Studios Inc cover its interest payments?
Angel Studios Inc (ANGX) has an interest coverage ratio of -5.8x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.