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NYSE · Communication Services

Angel Studios, Inc. (ANGX)

As-reported financials and SEC filings for Angel Studios, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Angel Studios, Inc.

Angel Studios, Inc. is a media and technology company that operates a community-driven platform where approximately 2.0 million members, known as the Angel Guild, select, fund, and support values-driven films and TV shows. The company uses proprietary technology and artificial intelligence to guide content selection, marketing, distribution, and streaming, aiming to replace traditional Hollywood gatekeepers with a data-informed approach. Angel Studios serves filmmakers and audiences interested in entertainment that aligns with specific values and offers a community-based experience across multiple digital platforms.

Snapshot

Revenue
$321.6M
Revenue growth (YoY)
233.2%
Net income
$-170.5M
Diluted EPS
$-1.10
Gross margin
61.2%
Operating margin
-51.0%
Net margin
-53.0%
FCF margin
ROE
net income / fiscal-year-end equity
P/E
trailing when available, otherwise FY EPS
Market cap
$786.2M
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Angel Studios

  • Revenue grew 233.2% to $322M in FY2025, after a 52.3% decline the year before.
  • Most recent quarter Q2 FY2026: revenue $112M, up 27.5% from Q2 FY2025.
  • Net loss widened to $170M in FY2025, from $88M in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Angel Studios’s fundamentals sit among the 216 Communication Services companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin61.2%
75th percentile of 105
Operating margin-51.0%
8th percentile of 185
Net margin-53.0%
8th percentile of 191
Revenue growth (YoY)+233.2%
98th percentile of 209
Short interest2.99d
46th percentile of 216

Angel Studios’s revenue growth of +233.2% ranks in the 98th percentile of the 209 Communication Services companies reporting it. Angel Studios’s operating margin of -51.0% ranks in the 8th percentile of the 185 Communication Services companies reporting it. Angel Studios’s net margin of -53.0% ranks in the 8th percentile of the 191 Communication Services companies reporting it.

7 reported insider purchases (code P) totaling $2.8M in the last 90 days. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 4 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+4 quant / multi-strat
Initiated / added
4
3 new, 1 added
Reduced / exited
0
0 trimmed, 0 exited
Combined position
$8.4M
reported long value
InvestorAs ofPosition valueSharesChange
Renaissance TechnologiesquantQ2 2026$5.0M1.4MAdded
Millennium ManagementquantQ2 2026$1.9M522.8KNew
Citadel AdvisorsquantQ2 2026$1.4M378.1KNew
Two Sigma InvestmentsquantQ2 2026$95,33926.0KNew

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4. Multiple insiders have bought recently (a cluster buy).

Buys (90d)
7
3 insiders
Bought (90d)
$2.8M
code P value
Sells (90d)
0
Reported activity
Cluster buy
≥2 insiders buying
Trade dateInsiderTypeSharesPriceValue
2026-08-14
filed 2026-08-17
Sarowitz Steven IDirectorBuy57.9K$4.26$247K
2026-08-14
filed 2026-08-17
Harmon JeffreyChief Content OfficerBuy51.4K$4.26$219K
2026-08-14
filed 2026-08-17
Harmon NealChief Executive OfficerBuy29.2K$4.28$125K
2026-08-13
filed 2026-08-17
Harmon JeffreyChief Content OfficerBuy178.7K$4.08$730K
2026-08-13
filed 2026-08-14
Sarowitz Steven IDirectorBuy107.7K$4.12$443K
2026-08-13
filed 2026-08-14
Harmon NealChief Executive OfficerBuy29.0K$4.31$125K
2026-08-12
filed 2026-08-14
Sarowitz Steven IDirectorBuy246.2K$3.71$912K
2026-05-05
filed 2026-05-07
Sarowitz Steven IDirectorBuy321.5K$3.06$983K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
5.0M
settled 2026-08-14
Change vs prior
+1.5%
vs previous settlement
Days to cover
2.99
at avg daily volume
Avg daily volume
1.7M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-145.0M+1.5%2.99
2026-07-314.9M+4.4%4.06
2026-07-154.7M+0.3%3.40
2026-06-304.7M+10.8%3.83
2026-06-154.3M-8.1%3.51
2026-05-294.6M+3.8%4.37
2026-05-154.5M-12.3%2.78
2026-04-305.1M+10.2%3.30

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022
Revenue$321.6M$96.5M$202.4M
Gross profit$196.7M$52.2M$116.4M
Operating income$-164.1M$-86.7M$12.4M$-1.6M
Net income$-170.5M$-88.3M$13.4M$18.1M
Diluted EPS$-1.10$-0.64$0.10

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022
Cash and equivalents$44.1M$7.2M$25.2M$10.7M
Current assets$134.9M$52.9M$2.2M$278,452
Total assets$241.4M$111.4M$46.9M$238.3M
Current liabilities$219.0M$80.1M$5.0M$1.2M
Long-term debt$45.5M
Total liabilities$267.2M$94.7M$5.6M$1.7M
Total equity$-25.8M$16.7M$51.0M$29.1M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022
Operating cash flow$-83.3M$-51.3M$15.2M$396,482
Capital expenditure
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$111.7M27.5%$-23.8M$-0.13
Q1 FY2026$115.1M142.6%$-13.8M$-0.08
Q4 FY2025$109.9M254.3%$-78.6M$-0.47
Q3 FY2025$76.5M280.4%$-38.6M$-0.25
Q2 FY2025$87.6M$-15.8M$-0.11
Q1 FY2025$47.4M$-37.3M$-0.26
Q4 FY2024$31.0M$-37.1M$-0.26
Q3 FY2024$20.1M$-13.9M$-0.10

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorCommunication Services
SIC industryServices-Motion Picture & Video Tape Production
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2021
SEC CIK1865200

Selected SEC filings

10-K2026-03-12
View on EDGAR →
10-Q2026-08-04
View on EDGAR →
10-Q2026-04-30
View on EDGAR →
8-K2026-08-04
View on EDGAR →
8-K2026-06-30
View on EDGAR →
8-K2026-06-18
View on EDGAR →
8-K2026-06-04
View on EDGAR →

Largest Communication Services peers

All Communication Services companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.