---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-111294"
form_type: "8-K"
ticker: "ANGX"
cik: "0001865200"
company_name: "Angel Studios, Inc."
filed_at: "2025-11-13T23:59:59+00:00"
generated_at: "2026-05-16T20:36:10.852661+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Angel Studios Q3 revenue $76.5M (+280% YoY); net loss $38.6M; acquires DAVID franchise

## Summary
- Q3 revenue $76.5M (record), up 280% YoY; nine-month revenue $211.6M, up 223%.
- Angel Guild revenue $59.2M (77% of total), up 556% YoY; members grew to 1.6M (up 620% YoY).
- Net loss $38.6M ($0.25 loss per share) vs $13.9M loss in Q3 2024; driven by marketing and content costs.
- Cash and equivalents $63.3M; Bitcoin holdings valued at $34.5M; closed $100M credit facility with Trinity Capital.
- Post-quarter: acquired DAVID franchise from Slingshot USA (with 2521 Entertainment); theatrical release Dec 19, 2025.

## SEC filing metadata
- accession: 0001104659-25-111294
- form_type: 8-K
- ticker: ANGX
- cik: 0001865200
- company_name: Angel Studios, Inc.
- filed_at: 2025-11-13T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1865200/000110465925111294/0001104659-25-111294-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1865200/000110465925111294/tm2531235d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-111294
- JSON: https://secwatch.observer/filing/0001104659-25-111294.json
- Plain text: https://secwatch.observer/filing/0001104659-25-111294.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.