Angel Studios, Inc. Q1 2026 Financial Results

Angel Studios, Inc. reported its financial results for the first quarter ended March 31, 2026. The company experienced significant growth, with total revenue increasing by 143% year-over-year to $115.1 million, driven primarily by a 140% increase in Angel Guild revenue. The Angel Guild membership grew to 2.22 million, an 11% increase from the previous quarter and a 106% increase year-over-year. The company achieved positive Adjusted EBITDA of $4.0 million, a substantial improvement from a loss of $28.7 million in Q1 2025. Selling and marketing expenses were reduced to 49% of total revenue, down from 107% in the prior year period. The net loss for the quarter was $13.8 million, or ($0.08) per share, an improvement from a net loss of $37.3 million, or ($0.26) per share, in Q1 2025. The company also announced a registered offering that generated $34.5 million in gross proceeds. Angel Studios reiterated its outlook for a narrowed Adjusted EBITDA loss of less than $25 million for the full year 2026.