Angel Studios
Selects, distributes, and funds films and television shows through the Angel Guild.
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Profile
Angel Guild memberships give audiences voting and early streaming access while helping fund future film and television projects. Revenue comes from memberships, theatrical releases, content licensing, merchandise, and Pay it Forward, all within one reportable segment.
Angel Guild members vote on film and television projects, rally audiences around theatrical releases, and fund future work through membership. Membership tiers provide voting and early streaming access, with higher tiers adding ad-free viewing, tickets, and merchandise discounts.
Revenue also comes from theatrical releases, content licensing, merchandise, and Pay it Forward. The business reports one segment rather than separate management segments, and its historic The Chosen distribution activities produced no revenue at the time of the latest annual report.
Founded as VidAngel, the company became Angel Studios in 2021 and began NYSE trading as ANGX in 2025 after a business combination. The business remains subject to conditions relating to unauthorized use of copyrighted works under its Disney settlement.
Company facts
Key statistics
Year to date −10.0% · Average volume (30d) 1.5M
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | −$0.15 | −$0.13 | +10.3% | $109.7M | $111.7M | +1.9% | −4.93% |
| Jun 11, 2026Q1 FY26 | −$0.14 | −$0.08 | +41.4% | $107.7M | $115.1M | +6.9% | −0.68% |
| Apr 30, 2026Q1 FY26 | −$0.21 | −$0.47 | −122.2% | $94.7M | $109.9M | +16.1% | +22.57% |
| Nov 13, 2025Q3 FY25 | −$0.26 | −$0.25 | +3.8% | $71.6M | $76.5M | +6.9% | +13.90% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $47.4M | $87.6M | $76.5M | $109.9M | $115.1M | $111.7M | |
| Gross profit | $28.0M | $60.4M | $42.2M | $66.2M | $71.1M | $60.0M | |
| Operating income | −$33.6M | −$21.4M | −$38.1M | −$70.9M | −$2.7M | −$17.6M | |
| Net income | −$37.3M | −$15.9M | −$38.6M | −$78.6M | −$13.8M | −$23.8M | |
| Diluted EPS | −$0.26 | −$0.10 | −$0.25 | −$0.47 | −$0.08 | −$0.13 | |
| Gross margin | 58.9% | 68.9% | 55.1% | 60.2% | 61.8% | 53.7% | |
| Operating margin | -70.8% | -24.5% | -49.8% | -64.5% | -2.3% | -15.8% |
Fiscal years (4-quarter sums)FY22 $0 · FY23 $49.9M · FY24 $96.5M · FY25 $321.6M
Balance sheet, Jun 30, 2026Cash & short-term investments $48.0M · Total debt $77.1M · Total assets $235.1M · Shareholders' equity −$29.1M
Dividends
No dividends on record.
Ownership
Shares outstanding 169.94M · Float 86.80M · 51.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Gigafund 1, LP · 10 percent owner | 19.51M | 11.48% | Form 4 | Sep 19, 2025 |
| Gigafund Management Company, LLC | 19.46M | 11.45% | 13F | May 8, 2026 |
| Jeffrey Harmon · officer: Chief Content Officer | 17.41M | 10.25% | Form 4 | Aug 17, 2026 |
| Neal Harmon · director, officer: Chief Executive Officer | 17.07M | 10.05% | Form 4 | Aug 17, 2026 |
| Hudson Bay Capital Management LP | 4.12M | 2.42% | 13F | May 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 14, 2026 | Jeffrey Harmon | officer: Chief Content Officer | +51,380 | $4.26 |
| Aug 13, 2026 | Jeffrey Harmon | officer: Chief Content Officer | +178,700 | $4.08 |
| Aug 14, 2026 | Neal Harmon | director, officer: Chief Executive Officer | +29,193 | $4.28 |
| Aug 14, 2026 | Steven I. Sarowitz | director | +57,922 | $4.26 |
| Aug 13, 2026 | Steven I. Sarowitz | director | +107,662 | $4.12 |
Peers
- Netflix
Subscription streaming and content acquisition overlap
- Walt Disney
Direct-to-consumer, theatrical, and licensing overlap
- Warner Bros. Discovery
Streaming, theatrical releases, and content rights overlap
- Lionsgate Studios
Film and TV production and distribution overlap
- Sony (ADR)
Theatrical film, TV distribution, and streaming overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Angel Studios | $4.40 | +1.27% | $739.2M | — | — | 1.8 | — |
| Netflix | $81.62 | −0.12% | $340.28B | 25.7 | 23.6 | 7.0 | +13.4% |
| Walt Disney | $108.09 | −0.01% | $187.72B | 22.3 | 14.6 | 1.9 | +7.1% |
| Warner Bros. Discovery | $28.79 | +0.05% | $72.13B | — | — | 2.0 | −11.2% |
| Lionsgate Studios | $11.40 | −0.09% | $3.39B | — | 31.8 | 1.2 | +47.7% |
| Sony (ADR) | $24.71 | −0.56% | $145.93B | — | 28.9 | 1.8 | −1.6% |
| Median | 24.0 | 26.2 | 1.9 | +7.1% |