₿$70,788.36▼ 2.90%
Angel Studios, Inc.
ANGX🇺🇸Equity
Media and technology company driven by 2M+ grassroots Angel Guild members championing values-driven entertainment including Sound of Freedom. Acquired 300 BTC in October 2024 as a strategic treasury asset, with backing from Off the Chain Capital.
BTC Holdings
303.1 BTC
Insufficient history
Stock Price
$2.18
180d
Total financing
121.03M USD
180d
mNAV
17.27x
180d
Leverage
358.6%
180d
BTC Credit
2274 bps0.3x
Sats/Share
178
180d
Mkt capFD
370.59M USD
SharesFD
170.00M
Fiat reserve
44.08M USD
Total reserve
65.54M USD
Dilution
0.5%
Coverage
1.4 yr
BTC mix
0%
Analytics
BTC Coverage
Financials
US-GAAPAnnualAs of 2025-12-31
Balance Sheet
Total Assets$241.4M▲22779.8%
Total Liabilities$267.2M▲2827.4%
Stockholders' Equity$-25.8M▼403.2%
Cash & Equivalents$44.1M
Total Debt$45.5M
Digital Assets$26.5M
Income Statement
Revenue$321.6M
Operating Income$-164.1M▼10438.9%
Net Income$-170.5M▼3438.1%
Interest Expense$11.8M▲4204.0%
Cash Flow
Operating Cash Flow$-83.3M▼3747.9%
Instruments
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price | BTC Rating |
|---|---|---|---|---|---|---|
| ANGX-May27 | May '25 – May '27 | 15% | 5.00M USD | 5.53M USD | 6.13 USD | 0.3x |
| Total | 5.53M USD | |||||
Recent Changes
Sun, Feb 1, 2026
Debt OutstandingDrawANGX-TL30
40.0M→60.0M+20.0M(+50.0%)
Second tranche of $20M drawn
Form 10-K (2025)Wed, Dec 31, 2025
BTC Holdings
302→300-2 BTC(-0.7%)
Derived from CryptoAsset fair value and BTC price
Form 10-K (2025)BTC Holdings
300→303.1+3.1 BTC(+1.0%)
Corrected: 303.1 BTC per Note 3 direct disclosure (previously 300 derived from fair value/price)
Form 10-K (2025)Shares Outstanding
168.6M→169.1M+464.4K(+0.3%)
Form 10-K (2025)
Debt OutstandingIssuanceANGX-May27
5.0M→5.5M+526.2K(+10.5%)
Outstanding principal $5,526,167 including accrued PIK interest
Form 10-K (2025)Debt OutstandingRepaymentANGX-PA24
3.3M→2.0M-1.3M(-39.4%)
Carrying value $2.0M per 10-K
Form 10-K (2025)Debt OutstandingDrawANGX-PARev
8.2M→53.5M+45.3M(+552.4%)
Carrying value $53.5M per 10-K
Form 10-K (2025)Fiat Reserve
63.3M→44.1M-19.2M(-30.4%)USD
Form 10-K (2025)