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Private company

5&2 Studios, Inc.

5&2 Studios, Inc. is an American motion picture and video tape production services company.2 It is headquartered in Midlothian, United States.2

Last updated Oct 21, 2026.

Overview

$159.3MRevenue, fiscal 20243
-$12.9MNet income, fiscal 20243
  • IndustryServices-Motion Picture & Video Tape Production2
  • HeadquartersMidlothian, United States2
  • Incorporated inDE4
  • Business address8291 Baucum Road, Midlothian, Tx 760654
  • Filer category, Emerging growth company4
  • Legal formCorporation2
  • LEI254900E3FY5DYGFA4W052
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O COGENCY GLOBAL INC., 19904 Dover, United States2
  • Registered withDivision of Corporations, Department of State, 70497102

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5&2 Studios, Inc., a Delaware corporation, was originally formed on October 24, 2017 as a Utah limited liability company under the name “The Chosen, LLC.” On November 29, 2022, The Chosen, LLC converted into a Delaware corporation (the “conversion”) and changed its name to The Chosen, Inc. On September 25, 2024, The Chosen, Inc. changed its corporate name from The Chosen, Inc. to 5&2 Studios, Inc. (as so renamed, the “Company”). The Company has five wholly-owned subsidiaries, The Chosen Texas, LLC, TCI Animation, LLC, The Chosen House, LLC, Dream Weaver Stories, LLC, and Pit to Palace, LLC, and one subsidiary of which the Company owns 100% voting interest and none of the non-voting interest, Impossible Math, LLC, whose activity has been consolidated into the Company with all significant intercompany balances and transactions being eliminated.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-6.0%Operating margin3
-8.1%Net margin3
96.9%Revenue growth, 20243
-80.5%Return on equity3
-$70.4MFree cash flow3

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Other costs98¢$156.4M
  • Income tax2¢$2.9M

Out of $159.3M in revenue.3 The company lost money this year.

Financial statements

Revenue63$159.3M in 2024+422% since 2022
0$50.0M$100.0M$150.0M$200.0M2022: $30.5M$30.5M20222023: $80.9M$80.9M2023+165%2024: $159.3M$159.3M2024+97%
Operating income63-$9.5M in 2024+238% since 2022
-$15.0M-$10.0M-$5.0M02022: -$2.8M-$2.8M20222023: -$10.5M-$10.5M2023+272%2024: -$9.5M-$9.5M2024−9%
Net income63-$12.9M in 2024+1545% since 2022
-$15.0M-$10.0M-$5.0M02022: -$783.0K-$783.0K20222023: -$3.6M-$3.6M2023+356%2024: -$12.9M-$12.9M2024+261%
Fiscal year2021202220232024
Revenue$30.5M6$80.9M3$159.3M3
Cost of revenue$7.6M6$22.1M6
Operating expenses$91.4M3$182.1M3
Operating income-$2.8M6-$10.5M3-$9.5M3
Interest$178.0K6$3.3M6
Income before tax-$2.8M6-$11.1M3-$21.9M3
Income tax-$246.0K6-$2.1M3-$2.9M3
Net income-$783.0K6-$3.6M3-$12.9M3
Earnings per share-$1.866-$0.283-$1.033
Earnings per share (diluted)-$1.866-$0.283-$1.033
Shares (weighted, basic)7.6K shares612.5M shares312.5M shares3
Shares (weighted, diluted)7.6K shares612.5M shares312.5M shares3

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What it owns

What 5&2 Studios, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$53.0M3 Dec 31, 2024$49.5M3 Dec 31, 2023+7.0%
Accumulated depreciation$24.6M3 Dec 31, 2024$12.1M3 Dec 31, 2023+103.8%
Property and equipment, net$28.4M3 Dec 31, 2024$37.5M3 Dec 31, 2023−24.1%
Operating-lease assets (leased space)$984.0K3 Dec 31, 2024$891.0K3 Dec 31, 2023+10.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$6.5M3 Dec 31, 2024$65.2M3 Dec 31, 2023−90.1%

Intangibles and goodwill

ItemLatestA year beforeChange
Accumulated amortization$11.0K3 Dec 31, 2023$4.0K6 Dec 31, 2022+175.0%
Finite-lived intangibles, net$62.0K3 Dec 31, 2023$67.0K6 Dec 31, 2022−7.5%

Inventory

ItemLatestA year beforeChange
Inventory, total$5.9M3 Dec 31, 2024$15.1M3 Dec 31, 2023−61.1%
Raw materials$175.0K3 Dec 31, 2024$175.0K3 Dec 31, 20230%
Finished goods$5.7M3 Dec 31, 2024$15.5M3 Dec 31, 2023−63.0%

Properties, in its own words

We have a lease agreement for our office space at 1525 Pine Street, Suite 106, Redding, California 96001. Impossible Math also has a lease agreement for the film campus land in Midlothian, Texas. We have also built a film set, Capernaum, and film campus in Midlothian, Texas. Both the film set and film campus are built on land owned by the Salvation Army, which has allowed the Company to use the property for filming, production, and operational purposes. The Company has a five-year lease for the film campus, which expires in October 2026 (with four automatic 10-year renewal terms upon expiration). On March 1, 2023, the Company executed an amendment to its existing lease with the Salvation Army to include the Capernaum Village film set, which was previously covered under a separate temporary film use agreement. By covering both the film set and film campus under a single lease with automatic ten-year renewals, the Company has a higher level of assurance that the facilities will be available for future seasons. We believe that our facilities are adequate for our current operations.

Item 2 of the 10-K filed Mar 31, 2025.5

Leadership

Who has led 5&2 Studios, Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (16)

Former names

  • Chosen, Inc.Dec 8, 2022 to Aug 14, 20244
  • Chosen, LLCMar 8, 2018 to Dec 2, 20224

Timeline

  1. Mar 30, 20268-K Bylaws or fiscal year changed; Shareholder vote24
  2. Mar 6, 20268-K Entered a material agreement25
  3. Jul 28, 20258-K Entered a material agreement26
  4. Jul 10, 20258-K Executive or director change27
  5. Jun 17, 20258-K Ended a material agreement28
  6. Feb 11, 20258-K Executive or director change29
  7. Feb 3, 20258-K Executive or director change30
  8. Jan 15, 20258-K Executive or director change31
  9. Dec 19, 20248-K Shareholder vote32
  10. Dec 6, 20248-K Entered a material agreement33
  11. Oct 1, 20248-K Ended a material agreement; Other events34
  12. Sep 30, 20248-K Bylaws or fiscal year changed35
  13. Nov 29, 2022Founded 5&2 Studios, Inc. is founded2

Filings

96 filings to the SEC since October 2021: 2 annual reports, 9 quarterly reports, 19 major events, 26 insider forms, 40 other. The latest 20:

  1. Mar 30, 202615-12G EDGAR
  2. Mar 30, 20268-K EDGAR
  3. Mar 30, 2026SC 13E3/A EDGAR
  4. Mar 24, 2026DEFA14A EDGAR
  5. Mar 17, 2026DEF 14A EDGAR
  6. Mar 6, 20268-K EDGAR
  7. Mar 3, 2026SC 13E3/A EDGAR
  8. Mar 3, 2026PRER14A EDGAR
  9. Feb 12, 2026CT ORDER EDGAR
  10. Dec 31, 2025SC 13E3 EDGAR
  11. Dec 31, 2025PRE 14A EDGAR
  12. Nov 14, 202510-Q EDGAR
  13. Aug 14, 202510-Q EDGAR
  14. Jul 28, 20258-K EDGAR
  15. Jul 10, 20258-K EDGAR
  16. Jun 17, 20258-K EDGAR
  17. May 15, 202510-Q EDGAR
  18. Mar 31, 202510-K EDGAR
  19. Mar 27, 20254 OWNERSHIP DOCUMENT EDGAR
  20. Mar 27, 20254 OWNERSHIP DOCUMENT EDGAR

The 96 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Brad PeloPresident62$500.0K$9.1M36
2024Kyle YoungEVP$350.0K$2.2M36
2024JD LarsenCFO50$325.0K$2.1M36
2023Brad PeloPresident62$477.1K$852.1K36
2023Kyle YoungEVP$286.5K$486.8K36
2023JD LarsenCFO50$310.4K$465.4K36

SEC filer profile

How 5&2 Studios, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGAR5&2 Studios, Inc.1
  • CIK0001733443
  • Employer ID (EIN)82-32462225
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)7812 Services-Motion Picture & Video Tape Production1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business address8291 Baucum Road, Midlothian, TX 760651
  • Phone833-924-67361
  • Shares outstanding6,950,000 Common Class A shares; 5,591,274 Common Class B shares as of Mar 28, 20255
  • Public float$0 as of Jun 30, 20243
  • AuditorTanner, LLC, Salt Lake City, UT PCAOB ID 270; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceMar 8, 20181
  • Filings134 in all: 8-K (18), 3 (16), 1-U (13), 10-Q (9), CORRESP (9), UPLOAD (9), 4 (8), 1-A/A (5)1
    All 35 form types

    1-SA (5), 1-K (4), 253G2 (4), C-AR (3), 1-A (2), 10-12G/A (2), 10-K (2), 3/A (2), DEF 14A (2), DEFA14A (2), QUALIF (2), SC 13E3/A (2), 1-K/A (1), 1-U/A (1), 10-12G (1), 15-12G (1), 8-K/A (1), C (1), C-U (1), CT ORDER (1), DEF 14C (1), NT 10-Q (1), PRE 14A (1), PREM14C (1), PRER14A (1), SC 13E3 (1), SEC STAFF ACTION (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2025
    Quarterly report (10-Q) Nov 14, 2025
    Proxy statement (DEF 14A) Mar 17, 2026
    Latest 8-K (8-K) Mar 30, 2026

Risk factors and legal proceedings

The risks 5&2 Studios, Inc. names in Item 1A of its 10-K filed Mar 31, 2025: 35 risks under these headings, as written.5

  • Risks Related to the Company’s Business and Industry
  • History of Operations — The Company has limited operating history upon which an investor can base an investment decision.
  • Actual Operating Results May Differ from Estimates — The Company’s actual operating results may differ from its initial estimates.
  • Revenues — There is no guarantee revenues will remain consistent over time.
  • Fluctuations in Operations — The Company’s operating results may fluctuate significantly.
  • Dependence on External Factors — The Company’s success depends on external factors in the television and film production industry.
  • Diversification — The Company’s success depends significantly on one television series.
  • Budget Overruns — Budget overruns may adversely affect the Company’s business.
  • Capital – Our business requires a substantial investment of capital, and we may have limited working capital and limited access to financing.
  • Production Facilities – Our business relies on suitable and available production facilities.
  • Production and Distribution – We face risks, such as unforeseen costs and potential liability in connection with content we produce and distribute.
  • Additional Distributors — There can be no assurance that the Company will attract any distributors in addition to CAS and Lionsgate for the Series.
The other 24 risks
  • Strategic Relationship – Inability to maintain our strategic relationship with CAS would materially adversely affect our business.
  • Competition — There can be no assurance that the Company will be able to compete in the television production industry and its lack of diversification may make it vulnerable to oversupply in the market.
  • Reliance on Personnel — The Company depends heavily on creative and production personnel to produce the Series.
  • Reliance on Charitable Donations and the Ongoing Contractual Relationship with CAS - A reduction in the growth or amount of charitable giving due to deteriorating general economic conditions, a recession, changes in tax rules applicable to charitable contribution deductions, or otherwise could adversely affect our operating results and financial condition.
  • Indebtedness – Indebtedness could adversely affect our business.
  • Union Activity — We could be adversely affected by strikes or other union job actions.
  • Video Piracy — Piracy of video content may harm our business.
  • Artificial Intelligence - We could be adversely affected by artificial intelligence (“AI”).
  • Natural disasters, geopolitical conflicts, or other natural or man‐made catastrophic events could disrupt and impact our business.
  • Supply Chain Disruptions — Changes in relationships with the Company’s vendor base and supply chain disruptions may adversely affect its business operations.
  • Tariffs – Changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs, may adversely impact our business, financial condition, and results of operations.
  • Antitakeover Provisions — Provisions in our charter documents and under Delaware law could discourage a takeover that stockholders may consider favorable.
  • Technological Advances — Technological advances may reduce demand for television series.
  • Limited Protection of Intellectual Property and Proprietary Rights — The Company’s success depends on protecting its intellectual property.
  • Cybersecurity - Any significant disruption in or unauthorized access to our computer systems or those of third parties that we utilize in our operations, including those relating to cybersecurity or arising from cybersecurity incidents or attacks, could result in a loss or degradation of service, unauthorized disclosure of data, including corporate information, or theft of intellectual property, including digital content assets, which could adversely impact our business.
  • Conflicts of Interest — The Company’s directors and officers may have conflicts of interest in conducting their duties.
  • Corporate Governance — Because we are not subject to compliance with rules requiring the adoption of certain corporate governance measures, our shareholders have limited protections against interested director transactions, conflicts of interest and similar matters.
  • Financing — We may seek additional capital that may result in stockholder dilution or that may have rights senior to those of our common stockholders.
  • Smaller Reporting Company — We are a “smaller reporting company” and we cannot be certain if the reduced disclosure requirements applicable to smaller reporting companies will make our securities less attractive to investors.
  • Public Company Requirements — The requirements of being a reporting public company may strain our resources, divert management’s attention and affect our ability to attract and retain additional executive management and qualified board members.
  • Not Listed on a Securities Exchange—There is currently no market for our securities and a market for our securities may not develop, which would adversely affect the liquidity and price of our securities.
  • Shareholder Approval — Our controlling shareholder owns all of our Series A Common Stock, which represent approximately 55% of the voting power of the Company’s issued share capital, and as a result, controls all matters requiring shareholder approval.
  • Privacy Risks - Unauthorized disclosure of personal information, payment card information, or similar violations of applicable data privacy laws, whether through a security breach of our computer systems, our third-party processor’s computer systems or otherwise, or through our unauthorized use or transmission of personal information could subjects us to costly fines, penalties, and legal claims.
  • Material Weakness - In prior periods we identified certain material weaknesses in our internal controls over financial reporting. If our internal controls are not effective, we may not be able to accurately report our financial results or prevent fraud.

Legal proceedings

From time to time we may be involved in various disputes and litigation matters that arise in the ordinary course of business. Other than as set forth below, we are currently not a party to any material legal proceeding.

The opening of Item 3, Legal Proceedings.5

Sources

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