secwatch.observer — SEC 8-K summary
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Issuer:     Angel Studios, Inc. (ANGX)
CIK:        0001865200
Form:       8-K
Filed at:   2026-04-30T23:59:59+00:00
Accession:  0001865200-26-000034
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1865200/000186520026000034/0001865200-26-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1865200/000186520026000034/angx-20260331x8k.htm
  HTML page:      https://secwatch.observer/filing/0001865200-26-000034

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