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

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Angel Studios, Inc. reported first quarter ended March 31, 2026 results: revenue $115.1 million, net income $13.8 million or ($0.08) per share. Guidance reaffirmed.

Period: first quarter ended March 31, 2026
Revenue: $115.1 million
Net income: $13.8 million or ($0.08) per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

forth by specific reference in such a filing. --- EX-99 (EX-99.1) --- Angel Reports First Quarter 2026 Financial Results with 11% Growth in Guild Membership ~ Revenue of $115.1 Million, Representing a 143% Year-Over-Year Increase ~ ~ Adjusted EBITDA Improves to $4.0 Million From $(28.7) Million in Q1 2025 ~ ~ Selling and Marketing expense improved from 107% of

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Source: SEC EDGAR

accession 0001865200-26-000034

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