{"schema_version":"secwatch.filing_event.v1","accession":"0001865200-26-000098","form_type":"8-K","ticker":"ANGX","cik":"0001865200","company_name":"Angel Studios, Inc.","filed_at":"2026-11-10T21:35:33+00:00","discovered_at":"2026-11-10T21:37:00.237349+00:00","generated_at":"2026-11-10T21:37:16.381848+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.78,"calibrated_materiality_score":0.78,"confidence":"high","headline":"Angel Studios Q3 revenue $159.0M, up 107.7% YoY; net loss narrowed to $5.2M","bullets":["Total revenue $159.0M vs $76.5M in Q3 2025 (+107.7% YoY, +42.4% QoQ); Guild revenue $115.6M, up 95.3% YoY and 27.5% QoQ.","Net loss $5.2M ($0.03/share) vs $38.5M ($0.25/share) a year ago; Adjusted EBITDA loss $3.2M vs $32.6M; gross margin 63% vs 55%.","Paying Guild members reached 2.94M, up ~1.36M YoY and ~335,000 in the quarter; Guild S&M fell to 55% of Guild revenue from 75%.","Young Washington grossed $47M domestic box office; library scaled to over 1,500 releases from 837 at Dec 31, 2025; operating cash flow +$10.3M in Q3.","Reiterated FY2026 Adjusted EBITDA loss under $25M; cash $45.6M, deferred revenue $98.5M, notes payable $75.5M, and 304 bitcoin worth $25.4M."],"urls":{"canonical":"https://secwatch.observer/filing/0001865200-26-000098","json":"https://secwatch.observer/filing/0001865200-26-000098.json","markdown":"https://secwatch.observer/filing/0001865200-26-000098.md","text":"https://secwatch.observer/filing/0001865200-26-000098.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1865200/000186520026000098/0001865200-26-000098-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1865200/000186520026000098/angx-20261110x8k.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-11-10T21:37:16.381848+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}