---
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"
generated_at: "2026-11-10T21:37:16.381848+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.78
calibrated_materiality_score: 0.78
confidence: "high"
source: SEC EDGAR
---

# Angel Studios Q3 revenue $159.0M, up 107.7% YoY; net loss narrowed to $5.2M

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: positive
- materiality_score: 0.78
- calibrated_materiality_score: 0.78
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001865200-26-000098
- JSON: https://secwatch.observer/filing/0001865200-26-000098.json
- Plain text: https://secwatch.observer/filing/0001865200-26-000098.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.