v3.25.1
Description of Organization and Summary of Significant Accounting Policies (Tables) - Angel Studios Inc. Cik0001671941
3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Schedule of concentration risk of major vendors and customers  

Major vendors are defined as those vendors having expenditures made by the Company which exceed 10.0% of the Company’s total cost of revenues. Concentrations of vendors were as follows for the years ended December 31:

    

2024

    

2023

 

2022

 

Vendor A

 

*

35

%

41

%

Vendor B

 

26

%  

22

%

*

Vendor C

 

*

21

%

*

Major customers are defined as those customers generating revenues for the Company which exceed 10.0% of the Company’s total recognized revenues. Concentrations of customers were as follows for the years ended December 31:

    

2024

    

2023

2022

Customer A

 

*

12

%  

*

Major concentrations of customers with licensing receivables are defined as those customers with a licensing receivables balances for the Company which exceed 10.0% of the Company’s outstanding licensing receivables. Concentrations of customers with licensing receivables balance were as follows for the years ended December 31:

    

2024

    

2023

2022

Customer B

 

100

%  

100

%  

*

*Vendors and customers that did not exceed the 10.0% concentration threshold.

Schedule of estimated economic useful lives of the assets  

Office and computer equipment

    

3 years

Production equipment

 

1 year

Leasehold improvements

 

1 year

Furniture and fixtures

 

3 years

Warehouse equipment

 

3 - 5 years

Computer software

 

2 years

Schedule of revenue recognized

For the three months ended March 31, 

    

2025

    

2024

Angel Guild

$

34,697,518

$

4,662,313

Theatrical

7,728,206

8,384,643

Content licensing

 

2,596,504

 

10,065,025

Merchandise

943,844

1,867,192

Theatrical Pay it Forward

 

698,635

 

Pay it Forward

535,261

3,587,935

Other

240,672

291,098

Total Revenue

$

47,440,640

 

$

28,858,206

For the year ended December 31, 

    

2024

    

2023

    

2022

Angel Guild

$

35,646,375

$

2,940,290

$

Theatrical

29,445,641

106,838,828

4,720,674

Content licensing

 

16,588,700

 

38,687,753

11,924,036

Merchandise

5,808,750

18,020,076

23,609,414

Pay it Forward

 

5,610,677

 

31,856,327

33,980,046

Theatrical Pay it Forward

2,213,993

3,430,855

Other

1,202,303

663,187

1,282,392

Total Revenue

$

96,516,439

 

$

202,437,316

$

75,516,562

    

2024

    

2023

    

2022

Point in time revenue

$

60,002,166

$

198,201,716

$

73,927,248

Over time revenue

 

36,514,273

 

4,235,600

 

1,589,314

Total revenue

$

96,516,439

$

202,437,316

$

75,516,562

Schedule of recently adopted accounting pronouncements

Balances as of
December 31, 2024

Adjustments from Adoption of the New Crypto Standard

Balances as of
January 1, 2025

Assets

Digital assets

$

12,457,387

$

15,962,018

$

28,419,405

Stockholders' equity

Accumulated deficit

$

99,870,749

$

(15,962,018)

$

83,908,731