secwatch.observer — SEC 8-K summary
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Issuer:     Angel Studios, Inc. (ANGX)
CIK:        0001865200
Form:       8-K
Filed at:   2025-11-13T23:59:59+00:00
Accession:  0001104659-25-111294
Event type: earnings
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1865200/000110465925111294/0001104659-25-111294-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1865200/000110465925111294/tm2531235d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-111294

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer