Angel Studios (ANGX) Cash Flow: Operating & Free Cash Flow

Angel Studios Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Angel Studios, Inc. (ANGX) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Operating Activities
Net Income	-170.48	-89.97	13.21	-13.71	17.12
Depreciation & Amortization	15.34	1.68	6.35	1.12	0.25
Deferred Income Tax	0.00	4.00	0.04	-0.43	0.00
Stock Based Compensation	9.67	3.64	1.03	1.50	4.59
Change in Working Capital	54.18	20.96	-8.13	-5.14	-1.64
Change in Accounts Receivable	-35.12	5.97	-38.47	3.25	-9.24
Change in Inventory	0.45	1.13	-2.34	1.37	-1.08
Change in Accounts Payable	32.87	13.46	4.75	-12.93	12.51
Change in Other Working Capital	11.63	0.40	27.93	1.13	-3.97
Other Operating Activities	7.99	-0.55	2.69	4.56	3.17
Net Cash from Operating Activities	-83.33	-60.23	15.19	-11.66	15.26
Investing Activities
Capital Expenditures	-0.51	-0.30	-9.85	-1.14	-0.78
Acquisitions	-36.97	-5.50	-1.72	-1.75	0.00
Purchases of Investments	-36.80	-0.62	-0.12	-1.75	-0.95
Sales/Maturities of Investments	-18.05	2.29	0.00	0.00	-2.19
Other Investing Activities	-0.23	0.23	-7.55	-2.36	-0.81
Net Cash from Investing Activities	-55.59	-3.91	-9.96	-3.50	-5.61
Financing Activities
Debt Repayment	-77.23	5.12	1.93	-0.21	-0.08
Common Stock Issued	104.78	32.82	7.50	0.26	12.94
Common Stock Repurchased	-0.44	-0.71	-0.11	-0.43	-8.78
Other Financing Activities	-8.67	8.92	-0.07	0.00	-0.58
Net Cash from Financing Activities	175.79	46.15	9.25	1.62	3.58
Summary
Effect of Forex Changes on Cash	0.00	0.00	0.00	0.00	0.00
Net Change in Cash	36.87	-17.99	14.48	-13.54	13.24
Cash at Beginning of Period	7.21	25.20	10.72	24.26	0.00
Cash at End of Period	44.08	7.21	25.20	10.72	1.95
Free Cash Flow	-83.84	-60.54	5.34	-12.80	14.48
Supplemental Disclosures
Interest Paid	7.81	2.37	3.59	0.50	0.52
Income Taxes Paid	-	1.38	0.02	-2.08	2.35

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Angel Studios Cash Flow

What is Angel Studios's free cash flow?

Angel Studios had negative free cash flow of $83.84M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of −$83.33M minus $509.42K of capital expenditures.

How much does Angel Studios spend on capital expenditures?

Angel Studios spent $509.42K on capital expenditures in fiscal 2025, compared with $303.79K a year earlier.

Does Angel Studios pay dividends or buy back shares?

Yes. In fiscal 2025 Angel Studios returned $437.79K in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition