Angel Studios, Inc. cash flow statement

In fiscal 2025, Angel Studios, Inc.'s operations generated −$83.3m of cash. It returned $437,791 through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Angel Studios, Inc.: cash flow statement, annual
Fiscal year	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash from operations	15	−51	−83	−44
Depreciation and amortisation	6	8	14	16
Stock-based pay	1	4	10	12
Share buybacks	0	1	0	1
Shares issued	8	33	104	100

US$ millions unless shown otherwise. Fiscal quarters.

Angel Studios, Inc.: cash flow statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Cash from operations	−38	−12	−10	−11	−38	−25	2	17
Depreciation and amortisation	—	7	2	2	−3	13	3	3
Stock-based pay	1	1	3	2	3	2	3	4
Shares issued	—	6	15	24	64	1	0	35

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Angel Studios, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Angel Studios, Inc.