Andersen Group Inc.

Listed Company

ANDGCIK 0002065708NYSENon-AcceleratedSmaller ReportingEmerging GrowthServices-Business Services, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$838.69M

Net Income

$-2.32M

Total Assets

$565.14M

Equity

$-134.73M

Shares Out

—

Op. Cash Flow

$184.62M

Business

Andersen Group Inc. is a publicly listed company in Business Services, incorporated in Delaware. Common stock trades on NYSE under the ticker ANDG.

Auto-generated from company profile

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Revenue	839	732	639
Cost of services (excluding depreciation and amortization)	595	462	400
Sales, general and administrative	177	132	115
Equity restructuring costs	193	0	0
Depreciation and amortization	9	8	8
Total operating expenses	974	602	522
Operating (loss) income	−135	130	117
Interest income	4	5	3
Interest expense	−1	−64,000	−138,000
Other income, net	5	3	2
(Loss) income before income tax expense	−127	137	121
Income tax expense	3	2	2
Net (loss) income	−130	135	119
Net income	−128	—	—
Net loss attributable to Andersen Group Inc.	−2	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	250	88	—	—
Accounts receivable, net of allowance for credit losses of $1,676 and $3,071, respectively	123	118	109	—
Loans and notes receivable from related parties, net of allowance for credit losses of $2,513 and $1,480, respectively	473,000	436,000	—	—
Investments in held-to-maturity debt securities, current	8	22	—	—
Prepaid expenses and other current assets	30	18	—	—
Total current assets	412	246	—	—
Loans and notes receivable from related parties, net of allowance for credit losses of $8,222 and $7,131, respectively	440,000	2	—	—
Property and equipment, net	36	33	—	—
Operating lease right-of-use assets	82	77	—	—
Intangible assets, net	3	2	—	—
Investments in held-to-maturity debt securities	0	8	—	—
Goodwill	30	30	—	—
Other assets	2	0	—	—
Total assets	565	399	—	—
Accounts payable and other accrued expenses	12	17	—	—
Accrued payroll and benefits	46	38	—	—
Deferred revenue	13	16	—	—
Distributions payable to related parties	53	0	—	—
Operating lease liabilities, current	4	17	—	—
Notes payable to related parties, current portion	62	0	—	—
Other current liabilities	6	7	—	—
Total current liabilities	196	94	—	—
Operating lease liabilities, noncurrent	106	91	—	—
Notes payable to related parties, less current portion	288	0	—	—
Other liabilities	4	17	—	—
Total liabilities	594	202	—	—
Commitments and contingencies (Note 17)	—	—	—	—
Redeemable noncontrolling interest (Note 12)	0	0	—	—
Members' equity	0	196	177	148
Preferred stock, par value $0.0001 per share: 100,000,000 shares authorized, no shares issued and outstanding as of December 31, 2025	0	—	—	—
Additional paid-in-capital	0	—	—	—
Accumulated deficit	−135	—	—	—
Total stockholders' deficit/ members' equity	−135	—	—	—
Total liabilities, redeemable noncontrolling interest and stockholders' deficit/ members' equity	565	399	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Gain on reversal of legal accrual	−9	0	0
Equity-based compensation	147	0	0
Depreciation and amortization	9	8	8
Non-cash lease expense	13	13	11
Provision for credit losses on accounts receivable	−1	−870,000	−328,000
Amortization of discount on held-to-maturity debt securities	−412,000	−1	−696,000
Deferred income tax	−511,000	−102,000	171,000
Reserves on loans and notes receivable from related parties	3	4	500,000
Other, net	145,000	−30,000	651,000
Accounts receivable	−4	−8	−15
Prepaid expenses and other current assets	−13	348,000	−2
Other assets	−2	0	0
Accounts payable and other accrued expenses	2	6	4
Accrued payroll and benefits	12	10	−2
Deferred revenue	−3	1	−1
Other current liabilities	−17	173,000	3
Operating lease liabilities	−15	−12	−13
Other liabilities	1	−3	6
Net cash provided by operating activities	185	152	118
Purchases of held-to-maturity debt securities	0	−28	−37
Proceeds from maturity of held-to-maturity debt securities	23	23	30
Issuance of loans and notes receivable from related parties	−3	−6	−4
Proceeds from loans and notes receivable from related parties	2	2	4
Payments for purchases of property and equipment	−10	−9	−5
Payments for capitalized internal-use software costs	−717,000	−622,000	−606,000
Net cash provided by (used in) investing activities	11	−18	−13
Proceeds from IPO, net of underwriting discounts and commissions	188	0	0
Payments of deferred offering costs	−8	−615,000	0
Proceeds from issuance of Class B common stock	10,000	0	0
Deferred consideration payments for business combination	−800,000	−800,000	−800,000
Principal payments under finance lease obligations	−117,000	−105,000	−139,000
Distributions paid	−212	−116	−90
Net cash used in financing activities	−33	−118	−91
Net change in cash and cash equivalents	162	16	14
Interest paid	217,000	12,000	18,000
Income taxes paid	3	2	2
Property and equipment acquired through finance leases	32,000	0	331,000
Right-of-use assets obtained in exchange for lease liabilities	20	9	8
Right-of-use asset and lease liability adjustments due to remeasurement	−2	0	0
Purchases of property and equipment included in accounts payable and other accrued expenses	1	0	0
Issuance of notes payable to related parties	157	0	0
Settlement of deferred compensation liability with LTIP Unit issuance	1	0	0

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