Angel Studios Inc Financials
Angel Studios Inc (ANGX) reported $321.6M in revenue for fiscal year 2025, up 233.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue scale returned in FY2025, but operating losses, cash consumption, and negative equity keep financing central to the business mechanic.
Revenue reached$321.6M in FY2025 after$96.5M in FY2024, but the rebound did not restore operating economics. Gross margin widened from54.0% to61.2% , while operating margin remained deeply negative at-51.0% , showing that gross-profit growth still did not cover the cost structure.
Accounting and cash measures moved together negatively in FY2025: net loss was
FY2025 current liabilities of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Angel Studios Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Angel Studios Inc has an operating margin of -51.0%, meaning the company loses $51 on every $100 of revenue. This results in a profitability score of 19/100. This is up from -89.8% the prior year.
Angel Studios Inc's revenue surged 233.2% year-over-year to $321.6M, reflecting rapid business expansion. This strong growth earns a score of 87/100.
Not available for Angel Studios Inc, and counted as zero in the overall score.
Angel Studios Inc's current ratio of 0.62 is below the typical benchmark, resulting in a score of 7/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Not available for Angel Studios Inc, and counted as zero in the overall score.
Angel Studios Inc scores -0.91, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($812.4M) relative to total liabilities ($267.2M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Angel Studios Inc passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Angel Studios Inc reported a net loss of $170.5M while operations used $83.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Angel Studios Inc reported an operating loss of $164.1M against $11.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Angel Studios Inc generated $321.6M in revenue in fiscal year 2025. This represents an increase of 233.2% from the prior year.
Angel Studios Inc's EBITDA was -$149.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 89.9% from the prior year.
Angel Studios Inc reported -$170.5M in net income in fiscal year 2025. This represents a decrease of 93.1% from the prior year.
Angel Studios Inc earned -$1.10 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 71.6% from the prior year.
Cash & Balance Sheet
Angel Studios Inc held $44.1M in cash against $45.5M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Angel Studios Inc's gross margin was 61.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 7.1 percentage points from the prior year.
Angel Studios Inc's operating margin was -51.0% in fiscal year 2025, reflecting core business profitability. This is up 38.8 percentage points from the prior year.
Angel Studios Inc's net profit margin was -53.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 38.4 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Angel Studios Inc invested $15.5M in research and development in fiscal year 2025. This represents an increase of 20.9% from the prior year.
Angel Studios Inc spent $438K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 38.0% from the prior year.
Not reported for fiscal year 2025.
ANGX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $111.7M-3.0% | $115.1M | N/A | $76.5M | N/A | N/A | N/A | $20.1M |
| Cost of Revenue | $51.7M+17.6% | $44.0M | N/A | $34.3M | N/A | N/A | N/A | $8.1M |
| Gross Profit | $60.0M-15.7% | $71.1M | N/A | $42.2M | N/A | N/A | N/A | $12.0M |
| R&D Expenses | $4.0M-2.0% | $4.1M | N/A | $4.2M+15.7% | $3.6M+12.3% | $3.2M | N/A | $3.2M |
| SG&A Expenses | $12.4M+10.3% | $11.2M | N/A | $10.1M | N/A | N/A | N/A | $6.1M |
| Operating Income | -$18.5M-594.3% | -$2.7M | N/A | -$38.1M | N/A | N/A | N/A | -$15.1M |
| Interest Expense | $3.1M-48.7% | $6.0M | N/A | $4.0M+45.0% | $2.7M+75.4% | $1.6M | N/A | $452K |
| Income Tax | N/A | N/A | N/A | N/A | $277-99.7% | $88K | N/A | -$80K |
| Net Income | -$23.8M-72.4% | -$13.8M | N/A | -$38.6M | N/A | N/A | N/A | -$13.9M |
| EPS (Diluted) | -$0.13-57.3% | -$0.08+83.2% | -$0.49-98.4% | -$0.25-132.1% | -$0.11+58.6% | -$0.26+3.0% | -$0.26-164.0% | -$0.10 |
ANGX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $235.1M+10.3% | $213.1M-11.7% | $241.4M+22.5% | $197.0M+23068.0% | $850K-17.3% | $1.0M-99.1% | $111.4M+722.4% | $13.5M |
| Current Assets | $125.3M+12.3% | $111.6M-17.2% | $134.9M+9.6% | $123.1M+29763.3% | $412K-30.6% | $594K-98.9% | $52.9M+8058.8% | $649K |
| Cash & Equivalents | $48.0M+23.6% | $38.9M-11.8% | $44.1M-30.4% | $63.3M | N/A | N/A | $7.2M-36.4% | $11.3M |
| Inventory | $1.5M+7.0% | $1.4M+9.5% | $1.3M-18.0% | $1.5M | N/A | N/A | $1.7M | N/A |
| Accounts Receivable | $30.4M-1.3% | $30.8M-39.8% | $51.1M+107.2% | $24.7M | N/A | N/A | $16.2M | N/A |
| Total Liabilities | $264.4M+3.9% | $254.5M-4.7% | $267.2M+67.2% | $159.8M+1350.6% | $11.0M+14.4% | $9.6M-92.0% | $119.9M+545.7% | $18.6M |
| Current Liabilities | $192.5M+2.3% | $188.2M-14.1% | $219.0M+93.6% | $113.1M+2266.0% | $4.8M+3.5% | $4.6M-94.2% | $80.1M+1998.5% | $3.8M |
| Long-Term Debt | N/A | N/A | $45.5M | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$29.3M+29.3% | -$41.5M-60.8% | -$25.8M-169.4% | $37.2M+465.5% | -$10.2M-18.1% | -$8.6M-1.2% | -$8.5M-69.3% | -$5.0M |
| Retained Earnings | -$279.1M-9.3% | -$255.3M-5.7% | -$241.5M-37.4% | -$175.8M-1516.4% | -$10.9M-16.7% | -$9.3M+89.3% | -$87.0M-1420.5% | -$5.7M |
Not reported in any period shown, so not listed: Goodwill.
ANGX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $16.9M+797.3% | $1.9M+107.7% | -$24.7M+35.6% | -$38.3M | N/A | N/A | -$11.7M+69.0% | -$37.7M |
| Investing Cash Flow | -$11.3M-346.0% | -$2.5M+93.7% | -$40.0M-1068.2% | -$3.4M | N/A | -$3.2M+76.0% | -$13.5M+56.8% | -$31.3M |
| Financing Cash Flow | $3.5M+176.5% | -$4.6M-110.1% | $45.4M-41.0% | $77.1M | N/A | N/A | $21.1M-62.9% | $56.9M |
| Share Buybacks | $263K-70.7% | $897K+194.4% | $305K | $0-100.0% | $68K+4.4% | $65K-39.0% | $107K | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid.
ANGX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 53.7%-8.1pp | 61.8% | N/A | 55.1% | N/A | N/A | N/A | 59.7% |
| Operating Margin | -16.6%-14.2pp | -2.3% | N/A | -49.8% | N/A | N/A | N/A | -75.3% |
| Net Margin | -21.3%-9.3pp | -12.0% | N/A | -50.4% | N/A | N/A | N/A | -68.9% |
| Return on Equity | N/A | N/A | N/A | -103.7% | N/A | N/A | N/A | N/A |
| Return on Assets | -10.1%-3.6pp | -6.5% | N/A | -19.6% | N/A | N/A | N/A | -102.3% |
| Current Ratio | 0.65+0.1x | 0.590.0x | 0.62-0.5x | 1.09+1.0x | 0.090.0x | 0.13-0.5x | 0.66+0.5x | 0.17 |
| Debt-to-Equity | N/A | N/A | N/A | 4.30 | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: FCF Margin.
Note: Shareholder equity is negative (-$25.8M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.62), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where Angel Studios Inc Ranks
Frequently Asked Questions
What is Angel Studios Inc's annual revenue?
Angel Studios Inc (ANGX) reported $321.6M in total revenue for fiscal year 2025. This represents a 233.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Angel Studios Inc's revenue growing?
Angel Studios Inc (ANGX) revenue grew by 233.2% year-over-year, from $96.5M to $321.6M in fiscal year 2025.
Is Angel Studios Inc profitable?
No, Angel Studios Inc (ANGX) reported a net income of -$170.5M in fiscal year 2025, with a net profit margin of -53.0%.
What is Angel Studios Inc's EBITDA?
Angel Studios Inc (ANGX) had EBITDA of -$149.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Angel Studios Inc have?
As of fiscal year 2025, Angel Studios Inc (ANGX) had $44.1M in cash and equivalents against $45.5M in long-term debt.
What is Angel Studios Inc's gross margin?
Angel Studios Inc (ANGX) had a gross margin of 61.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Angel Studios Inc's operating margin?
Angel Studios Inc (ANGX) had an operating margin of -51.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Angel Studios Inc's net profit margin?
Angel Studios Inc (ANGX) had a net profit margin of -53.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Angel Studios Inc's operating cash flow?
Angel Studios Inc (ANGX) recorded an outflow of $83.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Angel Studios Inc's total assets?
Angel Studios Inc (ANGX) had $241.4M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Angel Studios Inc spend on research and development?
Angel Studios Inc (ANGX) invested $15.5M in research and development during fiscal year 2025.
What is Angel Studios Inc's current ratio?
Angel Studios Inc (ANGX) had a current ratio of 0.62 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Angel Studios Inc's return on assets (ROA)?
Angel Studios Inc (ANGX) had a return on assets of -70.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Angel Studios Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Angel Studios Inc (ANGX) held $44.1M in cash, cash equivalents and investments, and reported an operating cash outflow of $83.3M over that year. Dividing the one by the other, the reported balance equals about 6 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Angel Studios Inc's debt-to-equity ratio negative or not reported?
Angel Studios Inc (ANGX) has negative shareholder equity of -$25.8M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Angel Studios Inc's Altman Z-Score?
Angel Studios Inc (ANGX) has an Altman Z-Score of -0.91, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Angel Studios Inc's Piotroski F-Score?
Angel Studios Inc (ANGX) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Angel Studios Inc's earnings high quality?
Angel Studios Inc (ANGX) reported a net loss of $170.5M while operations used $83.3M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Angel Studios Inc cover its interest payments?
Angel Studios Inc (ANGX) reported an operating loss of $164.1M against $11.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Angel Studios Inc?
Angel Studios Inc (ANGX) scores 21 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.