Angel Studios Q1 2026 revenue up 143% to $115.1M, first positive Adjusted EBITDA of $4.0M

Angel Studios, Inc.

2026-Q1 EPS reported -$0.08 revenue$115,105,066

Revenue $115.1M (+143% YoY), Angel Guild revenue $83.3M (+140% YoY); Guild members 2.22M (+106% YoY).
Net loss improved to $13.8M ($0.08 loss per share) vs $37.3M loss ($0.26) in Q1 2025.
Adjusted EBITDA positive $4.0M vs loss of $28.7M in Q1 2025; gross margin 62% vs 59%.
Selling & marketing expense improved to 49% of revenue from 107% in Q1 2025.
April 2026 registered offering of 16.445M shares at $2.10, gross proceeds $34.5M; cash $38.9M.

item 2.02 item 9.01

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accession 0001865200-26-000034

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