Here are the 10-K annual reports from Angel Studios, Inc. (ANGX) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow ANGX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ANGX filings page.
Angel Studios, Inc., formerly Southport Acquisition Corporation, completed a business combination with Angel Studios Legacy in September 2025 and now operates as a community-driven media and technology company. Its model centers on the Angel Guild, a group of approximately 2.0 million paying members as of December 31, 2025, who vote on and fund films and TV shows that “amplify light.”
The company uses a proprietary technology platform and AI tools to power its app, recommendation engine and production workflows, and had exclusively licensed 137 titles and produced 776 Dry Bar Comedy specials by year-end 2025. It is increasingly focused on theatrical releases: in 2025 it released eight films, including “The King of Kings” and “David,” with gross worldwide box office for 2025 releases ranging from $3.0 million to $83.9 million per title, and reports that material distribution agreements are tied to more than $573.0 million in total global gross box office as of December 31, 2025.
Financially, Angel Studios recorded net losses attributable to controlling interests of $170.5 million in 2025 and $88.3 million in 2024, compared with net income in 2023 and 2021. The company highlights significant risks around its relatively new business model, intense competition in streaming and theatrical markets, piracy, technology and cybersecurity, and regulatory and intellectual property challenges. It also discloses past Disney-related copyright litigation and a completed bankruptcy reorganization, as well as an arbitration with The Chosen that resulted in termination of a key distribution agreement and a July 2025 settlement.