# Angel Studios, Inc.: overview

ANGX · NYSE · CIK 1865200 · [Communication](/sectors/communication.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/angx.md) · [Financials](/companies/angx/financials.md) · [Filings](/companies/angx/filings.md) · [Insiders](/companies/angx/insiders.md)

Latest reported revenue: [$111.7m](/filings/0001865200-26-000070.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 4, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001865200-26-000070).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [20.1](/filings/0001104659-25-111382.md) | [31.0 d](/filings/0001865200-26-000020.md) | [47.4](/filings/0001865200-26-000036.md) | [87.6](/filings/0001865200-26-000070.md) | [76.5](/filings/0001104659-25-111382.md) | [110 d](/filings/0001865200-26-000020.md) | [115](/filings/0001865200-26-000036.md) | [112](/filings/0001865200-26-000070.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(75.3%)](/filings/0001104659-25-111382.md) | [(92.7%) d](/filings/0001865200-26-000020.md) | [(70.8%)](/filings/0001865200-26-000036.md) | [(24.3%)](/filings/0001865200-26-000070.md) | [(49.8%)](/filings/0001104659-25-111382.md) | [(64.5%) d](/filings/0001865200-26-000020.md) | [(2.3%)](/filings/0001865200-26-000036.md) | [(16.6%)](/filings/0001865200-26-000070.md) |
| Net margin | % | [(68.9%)](/filings/0001104659-25-111382.md) | [(119.5%) d](/filings/0001865200-26-000020.md) | [(78.6%)](/filings/0001865200-26-000036.md) | [(18.0%)](/filings/0001865200-26-000070.md) | [(50.4%)](/filings/0001104659-25-111382.md) | [(71.5%) d](/filings/0001865200-26-000020.md) | [(12.0%)](/filings/0001865200-26-000036.md) | [(21.3%)](/filings/0001865200-26-000070.md) |
| Diluted EPS | $ per share | [(0.10)](/filings/0001104659-25-111382.md) | not reported | [(0.26)](/filings/0001865200-26-000036.md) | [(0.11)](/filings/0001865200-26-000070.md) | [(0.25)](/filings/0001104659-25-111382.md) | not reported | [(0.08)](/filings/0001865200-26-000036.md) | [(0.13)](/filings/0001865200-26-000070.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: |
| Revenue | $m | not reported | [202](/filings/0001865200-26-000020.md) | [96.5](/filings/0001865200-26-000020.md) | [322](/filings/0001865200-26-000020.md) |
| Gross margin | % | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | [6.1%](/filings/0001865200-26-000020.md) | [(89.8%)](/filings/0001865200-26-000020.md) | [(51.0%)](/filings/0001865200-26-000020.md) |
| Net margin | % | not reported | [6.6%](/filings/0001865200-26-000020.md) | [(91.5%)](/filings/0001865200-26-000020.md) | [(53.0%)](/filings/0001865200-26-000020.md) |
| Diluted EPS | $ per share | not reported | [0.10](/filings/0001865200-26-000020.md) | [(0.64)](/filings/0001865200-26-000020.md) | [(1.10)](/filings/0001865200-26-000020.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/angx/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [Gigafund Management Company, LLC](/funds/1713833.md) | 2026-06-30 | $71.4m | 19,459,882 |  | Unchanged |
| [Hudson Bay Capital Management LP](/funds/1393825.md) | 2026-06-30 | $14.4m | 3,915,068 |  | Reduced −202,749 |
| [PEAK6 LLC](/funds/1389958.md) | 2026-06-30 | $9.5m | 2,593,933 |  | New +2,593,933 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $5.1m | 1,387,172 |  | Added +68,697 |
| [RENAISSANCE TECHNOLOGIES LLC](/funds/1037389.md) | 2026-06-30 | $5.0m | 1,373,228 |  | Added +1,283,609 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $4.2m | 1,145,922 |  | Added +230,120 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $4.1m | 1,107,342 |  | Added +170,786 |
| [Sepio Capital, LP](/funds/1751412.md) | 2026-06-30 | $3.5m | 959,485 |  | Reduced −104,350 |
| [Diversify Advisory Services, LLC](/funds/2021232.md) | 2026-06-30 | $3.1m | 700,712 |  | New +700,712 |
| [DIVERSIFY WEALTH MANAGEMENT, LLC](/funds/2030780.md) | 2026-06-30 | $3.1m | 700,712 |  | Reduced −2,362 |

## Recent filings

[All 250 filings](/companies/angx/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-02 | 21:37 ET | [8-K](/filings/0001104659-26-112974.md) | 1.01 Entry into a material agreement; 9.01 Financial statements and exhibits | 0001104659-26-112974 |
| 2026-08-12 | 21:59 ET | [SCHEDULE 13D/A](/filings/0001104659-26-095222.md) | Ownership report, active investor, amended | 0001104659-26-095222 |
| 2026-08-12 | 21:59 ET | [SCHEDULE 13D/A](/filings/0001104659-26-095221.md) | Ownership report, active investor, amended | 0001104659-26-095221 |
| 2026-08-04 | 16:30 ET | [10-Q](/filings/0001865200-26-000070.md) | Quarterly report, period 2026-06-30 | 0001865200-26-000070 |
| 2026-08-04 | 16:20 ET | [8-K](/filings/0001865200-26-000068.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001865200-26-000068 |
| 2026-06-30 | 21:19 ET | [8-K](/filings/0001104659-26-079001.md) | 1.01 Entry into a material agreement | 0001104659-26-079001 |
| 2026-06-18 | 19:45 ET | [8-K](/filings/0001865200-26-000048.md) | 5.03 Amendment to articles or bylaws; 5.07 Shareholder vote results; 9.01 Financial statements and exhibits | 0001865200-26-000048 |
| 2026-06-04 | 19:00 ET | [8-K](/filings/0001865200-26-000045.md) | 7.01 Regulation FD disclosure | 0001865200-26-000045 |
| 2026-05-22 | 16:04 ET | [8-K](/filings/0001865200-26-000040.md) | 5.07 Shareholder vote results | 0001865200-26-000040 |
| 2026-04-30 | 16:31 ET | [10-Q](/filings/0001865200-26-000036.md) | Quarterly report, period 2026-03-31 | 0001865200-26-000036 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001865200-26-000020.md), filed Mar 12, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/d3c4911f-647c-46bb-b9ea-54263381dcfe)

## About the filer

- CIK: 1865200
- Tickers: ANGX
- Exchange: NYSE
- SIC code: 7812 Services-Motion Picture & Video Tape Production
- State of incorporation: DE
- Filer category: <br>Emerging growth company

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 27, 2026, 16:13 ET. No prices; not investment advice.