Andersen Group Inc. (ANDG) financial statements: income statement, balance sheet and cash flow
Andersen Group Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Andersen Group Inc. reported revenue of $838.7M and net income of ($127.8M).
Income statement
Andersen Group Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Revenue
$838.7M
Cost of services (excluding depreciation and amortization)
$595.1M
Sales, general and administrative
$176.7M
Equity restructuring costs
$193.2M
Depreciation and amortization
$9.0M
Total operating expenses
$974.0M
Operating (loss) income
($135.3M)
Interest income
$4.2M
Interest expense
($1.4M)
Other income, net
$5.4M
(Loss) income before income tax expense
($127.2M)
Income tax expense
$3.0M
Net (loss) income
($130.2M)
Net income
($127.8M)
Net loss attributable to Andersen Group Inc.
($2.3M)
Net loss per share of Class A common stock, basic (in dollars per share)
-$0.18
Weighted-average shares of Class A common stock outstanding, basic (in shares)
12.7M
Net loss per share of Class A common stock, diluted (in dollars per share)
-$0.22
Weighted-average shares of Class A common stock outstanding, diluted (in shares)
110.9M
Andersen Group Inc. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Revenue
$217.7M
$240.7M
Cost of services (excluding depreciation and amortization)
$173.6M
$166.4M
Sales, general and administrative
$50.5M
$48.0M
Depreciation and amortization
$2.5M
$2.3M
Total operating expenses
$226.6M
$216.7M
Operating (loss) income
($8.9M)
$24.1M
Interest income
$1.5M
$1.9M
Interest expense
($5.9M)
($6.2M)
Other income, net
$3.1M
$826.0K
(Loss) income before income tax (benefit) expense
($10.2M)
$20.6M
Income tax (benefit) expense
($73.0K)
$2.8M
Net (loss) income
($10.1M)
$17.7M
Less: net (loss) income attributable to noncontrolling interest
($9.1M)
$17.2M
Net loss attributable to Andersen Group Inc.
($1.0M)
$494.0K
Net loss per share of Class A common stock, basic (in dollars per share)
-$0.08
$0.04
Net loss per share of Class A common stock, diluted (in dollars per share)
-$0.09
$0.03
Weighted-average shares of Class A common stock outstanding, basic (in shares)
13.3M
12.7M
Weighted-average shares of Class A common stock outstanding, diluted (in shares)
13.3M
14.8M
Balance sheet
Andersen Group Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Cash and cash equivalents
$250.3M
Accounts receivable, net of allowance for credit losses of $1,676 and $3,071, respectively
$123.4M
Loans and notes receivable from related parties, net of allowance for credit losses of $2,513 and $1,480, respectively
$473.0K
Investments in held-to-maturity debt securities, current
$8.2M
Prepaid expenses and other current assets
$29.7M
Total current assets
$412.0M
Loans and notes receivable from related parties, net of allowance for credit losses of $8,222 and $7,131, respectively
$440.0K
Property and equipment, net
$35.7M
Operating lease right-of-use assets
$82.1M
Intangible assets, net
$2.5M
Investments in held-to-maturity debt securities
$0
Goodwill
$30.1M
Other assets
$2.2M
Total assets
$565.1M
Accounts payable and other accrued expenses
$12.0M
Accrued payroll and benefits
$46.3M
Deferred revenue
$12.5M
Distributions payable to related parties
$52.7M
Operating lease liabilities, current
$4.0M
Notes payable to related parties, current portion
$62.3M
Other current liabilities
$5.9M
Total current liabilities
$195.8M
Operating lease liabilities, noncurrent
$106.4M
Notes payable to related parties, less current portion
$287.7M
Other liabilities
$3.5M
Total liabilities
$593.5M
Redeemable noncontrolling interest (Note 12)
$106.4M
Members' equity
$0
Preferred stock, par value $0.0001 per share: 100,000,000 shares authorized, no shares issued and outstanding as of December 31, 2025
$0.00
Common stock, value
$11.0K
Additional paid-in-capital
$0
Accumulated deficit
($134.7M)
Total stockholders' deficit/ members' equity
($134.7M)
Total liabilities, redeemable noncontrolling interest and stockholders' deficit/ members' equity
$565.1M
Andersen Group Inc. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Cash and cash equivalents
$175.6M
$206.8M
Accounts receivable, net of allowance for credit losses of $3,977 and $1,676, respectively
$189.4M
$213.6M
Loans and notes receivable from related parties, net of allowance for credit losses of $2,887 and $2,513, respectively
$302.0K
$112.0K
Investments in held-to-maturity debt securities, current
$2.1M
$5.1M
Prepaid expenses and other current assets
$38.1M
$28.2M
Total current assets
$405.4M
$453.8M
Loans and notes receivable from related parties, net of allowance for credit losses of $3,922 and $8,222, respectively
$990.0K
$367.0K
Property and equipment, net
$44.4M
$39.0M
Operating lease right-of-use assets
$79.9M
$80.5M
Intangible assets, net
$6.2M
$2.6M
Goodwill
$32.3M
$30.1M
Other assets
$2.3M
$2.2M
Total assets
$571.5M
$608.6M
Accounts payable and other accrued expenses
$14.6M
$11.8M
Accrued payroll and benefits
$43.4M
$49.5M
Deferred revenue
$34.9M
$22.1M
Distributions payable to related parties
$10.9M
$34.6M
Operating lease liabilities, current
$9.7M
$7.2M
Notes payable to related parties, current portion
$55.4M
$57.5M
Other current liabilities
$16.6M
$9.6M
Total current liabilities
$185.5M
$192.3M
Operating lease liabilities, noncurrent
$103.4M
$104.9M
Notes payable to related parties, less current portion
$245.8M
$279.0M
Other liabilities
$5.4M
$3.6M
Total liabilities
$540.0M
$579.9M
Redeemable noncontrolling interest (Note 10)
$0
$0
Preferred stock, par value $0.0001 per share: 100,000,000 shares authorized, no shares issued and outstanding as of June 30, 2026 and December 31, 2025
$0.00
$0.00
Common stock, value
$11.0K
$11.0K
Additional paid-in-capital
$6.2M
$404.0K
Accumulated deficit
($781.5M)
($780.5M)
Total stockholders' deficit attributable to Andersen Group Inc.
($775.3M)
($780.1M)
Noncontrolling interest (Note 10)
$806.7M
$808.8M
Total stockholders' equity (deficit)
$31.5M
$28.7M
Total liabilities, redeemable noncontrolling interest and stockholders' equity (deficit)
$571.5M
$608.6M
Cash flow statement
Andersen Group Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Net (loss) income
($130.2M)
Gain on reversal of legal accrual
($9.5M)
Equity-based compensation
$147.4M
Depreciation and amortization
$9.0M
Non-cash lease expense
$12.6M
Provision for credit losses on accounts receivable
($1.2M)
Amortization of discount on held-to-maturity debt securities
($412.0K)
Deferred income tax
($511.0K)
Reserves on loans and notes receivable from related parties
$2.7M
Net loss from equity restructuring
$193.2M
Other, net
$145.0K
Accounts receivable
($4.4M)
Prepaid expenses and other current assets
($12.7M)
Other assets
($1.6M)
Accounts payable and other accrued expenses
$2.2M
Accrued payroll and benefits
$12.0M
Deferred revenue
($3.1M)
Other current liabilities
($16.9M)
Operating lease liabilities
($15.4M)
Other liabilities
$1.2M
Net cash provided by operating activities
$184.6M
Purchases of held-to-maturity debt securities
$0
Proceeds from maturity of held-to-maturity debt securities
$22.8M
Issuance of loans and notes receivable from related parties
($2.9M)
Proceeds from loans and notes receivable from related parties
$1.8M
Payments for purchases of property and equipment
($10.3M)
Payments for capitalized internal-use software costs
($717.0K)
Net cash provided by (used in) investing activities
$10.6M
Proceeds from IPO, net of underwriting discounts and commissions
$188.2M
Payments of deferred offering costs
($8.1M)
Proceeds from issuance of Class B common stock
$10.0K
Deferred consideration payments for business combination
($800.0K)
Principal payments under finance lease obligations
($117.0K)
Distributions paid
($212.2M)
Net cash used in financing activities
($32.9M)
Net change in cash and cash equivalents
$162.3M
Cash and cash equivalents at beginning of period
$88.0M
Cash and cash equivalents at end of period
$250.3M
Interest paid
$217.0K
Income taxes paid
$3.2M
Property and equipment acquired through finance leases
$32.0K
Right-of-use assets obtained in exchange for lease liabilities
$19.6M
Right-of-use asset and lease liability adjustments due to remeasurement
($1.8M)
Purchases of property and equipment included in accounts payable and other accrued expenses
$1.2M
Unpaid deferred offering costs included in accounts payable and other accrued expenses
$1.2M
Andersen Group Inc. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Net income (loss)
$7.6M
$17.7M
Gain on reversal of legal accrual
$0
—
Equity-based compensation
$93.9M
$45.6M
Depreciation and amortization
$4.8M
$2.3M
Non-cash lease expense
$7.1M
$3.6M
Provision for credit losses on accounts receivable
$2.6M
$1.3M
Amortization of discount on held-to-maturity debt securities
($35.0K)
($22.0K)
Deferred income tax
($125.0K)
($95.0K)
Reserves on loans and notes receivable from related parties
$74.0K
$0
Gain on bargain purchase
($1.4M)
—
Other, net
$170.0K
$95.0K
Accounts receivable
($62.1M)
($91.4M)
Prepaid expenses and other current assets
($7.7M)
$1.5M
Other assets
($5.0K)
$36.0K
Accounts payable and other accrued expenses
$2.5M
($576.0K)
Accrued payroll and benefits
($3.9M)
$3.2M
Deferred revenue
$22.1M
$9.5M
Other current liabilities
$671.0K
$3.7M
Operating lease liabilities
($2.1M)
($310.0K)
Other liabilities
$1.7M
($70.0K)
Net cash provided by operating activities
$65.8M
($3.9M)
Proceeds from maturity of held-to-maturity debt securities
$6.1M
$3.1M
Issuance of loans and notes receivable from related parties
($850.0K)
$0
Proceeds from loans and notes receivable from related parties
$408.0K
$401.0K
Payments for purchases of property and equipment
($12.8M)
($3.7M)
Payments for capitalized internal-use software costs
($395.0K)
($196.0K)
Cash acquired, net of cash paid for business combinations
$765.0K
—
Net cash (used in) provided by investing activities
($6.7M)
($395.0K)
Payments of deferred offering costs
($1.2M)
($1.2M)
Principal payments under finance lease obligations
($34.0K)
($29.0K)
Principal payments on notes payable to related parties
($48.9M)
($13.6M)
Distributions paid
($83.6M)
($24.4M)
Deferred consideration payments for business combination
$0
—
Net cash used in financing activities
($133.7M)
($39.2M)
Effect of exchange rate changes on cash and cash equivalents
($48.0K)
—
Net change in cash and cash equivalents
($74.6M)
($43.5M)
Cash and cash equivalents at beginning of period
$250.3M
$250.3M
Cash and cash equivalents at end of period
$175.6M
$206.8M
Property and equipment acquired through finance leases
$304.0K
$238.0K
Right-of-use assets obtained in exchange for lease liabilities (including remeasurements)
$2.0M
$2.0M
Purchases of property and equipment included in accounts payable and other accrued expenses
$335.0K
$1.8M
Reclassification of redeemable noncontrolling interest from temporary equity into permanent equity
$804.3M
$804.3M
Deferred consideration payments payable for business combinations