Angel Studios, Inc. Q1 2026 Earnings and Adjusted EBITDA Preview

Angel Studios, Inc. anticipates reporting first-quarter 2026 revenue between $105.0 million and $109.0 million, with an Adjusted EBITDA ranging from $(4.0) million to $(6.0) million. These preliminary figures, subject to customary review, are expected to be formally announced during their Q1 2026 earnings call in May 2026. The company provided a non-GAAP definition for Adjusted EBITDA, which includes earnings before interest, taxes, depreciation, amortization, stock compensation, digital asset gains/losses, and exceptional items, used for evaluating core business performance. A reconciliation to net loss is not feasible without unreasonable effort due to the unpredictable nature of certain reconciling items. Tanner LLP has not audited or reviewed these preliminary estimates, and they should not substitute for GAAP-compliant financial statements.