Every 8-K that Angel Studios, Inc. (ANGX) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, 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 reported strong second-quarter 2026 growth driven by its Angel Guild subscription community. Total revenue rose 27.5% year-over-year to $111.7 million, while Guild revenue grew 93.8% to $90.7 million and accounted for about 81.2% of revenue. Paying Guild members reached 2.61 million, up 99.2% from a year earlier, and exceeded 2.85 million as of July 31, 2026.
Profitability was mixed. Gross margin declined to about 54% from 69%, reflecting less high-margin theatrical revenue, and net loss widened to approximately $23.8 million (loss of $0.129 per share). However, operating loss narrowed to $18.5 million, Adjusted EBITDA loss improved to roughly $11.7 million, and operating cash flow turned positive at $16.9 million versus a $(10.6) million outflow last year. Cash and equivalents were $48.0 million at June 30, 2026, and the company reiterated guidance to limit full-year 2026 Adjusted EBITDA loss to no more than $25 million, supported by seven planned theatrical releases in the second half of 2026.
Angel Studios, Inc. amended and restated its merger agreements to acquire Tuttle Twins Show (TTS) and Toothy Cow Productions (TCP), mainly to extend the Outside Date for both deals to October 31, 2026 and adjust certain closing conditions and structures.
For TTS, the company removed a showrunner-agreement closing condition for Daniel Harmon. Company-related parties owned 41.6% of TTS units as of June 23, 2026, and Angel Studios has funded $11.7 million of TTS operations that will convert into preferred units at $1.16 per unit if the merger does not close. For TCP, related parties owned 2.4% of units, and Angel Studios has funded $11.9 million that will convert into TCP Class B Preferred Units at $1.50 per unit plus warrants if that merger is not consummated.
Angel Studios, Inc. amended its certificate of incorporation to change how its Class B common stock converts into Class A shares after certain transfers or upon a holder’s death or permanent incapacity. The changes create new “Permitted Transferee” categories, including certain Delaware noncharitable purpose trusts and irrevocable estate-planning trusts.
Class B shares held by these qualifying trusts will no longer automatically convert to Class A on death or permanent incapacity, as long as the trusts continue to meet requirements in the amended charter. The board approved the amendment following a special committee’s independent review, and a majority of Class B stockholders consented, making the amendment effective upon filing.
Angel Studios, Inc. filed a current report to highlight a new transparency practice around one of its key operating metrics. Effective May 29, 2026, the company began making its current active paying Angel Guild member count publicly available on its website at https://www.angel.com/guild/impact.
The member count is updated on a regular basis so readers can track this subscription-style metric over time. Angel Studios notes that information on its website is not automatically part of its SEC reports unless specifically incorporated by reference, and the disclosure under Regulation FD is furnished rather than filed.
Angel Studios, Inc. reported results from its annual stockholder meeting held on May 21, 2026. Shareholders elected five directors—Neal Harmon, Steve Sarowitz, Robert C. Gay, Benton Crane, and Katie Liljenquist—to serve until the next annual meeting and until successors are elected and qualified.
Support for the directors was strong, with each nominee receiving over 460 million votes "for" and broker non-votes of 57,084,634 shares. Stockholders also ratified the appointment of Tanner LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026, with 519,551,386 votes in favor, 309,577 against, and 596,377 abstentions.
Angel Studios reported strong first-quarter 2026 growth but remains unprofitable. Total revenue rose to $115.1 million, a 143% year-over-year increase, driven mainly by Angel Guild revenue of $83.3 million and 11% growth in Guild membership to 2.22 million.
Gross profit increased to $71.1 million, with gross margin expanding to about 62%. Selling and marketing was $56.6 million, or 49% of revenue, down from 107% a year earlier. Net loss narrowed to $13.8 million, or $(0.08) per share, and Adjusted EBITDA improved to a positive $4.0 million from a loss of $(28.7) million.
Angel ended the quarter with $38.9 million in cash and 303.1 BTC valued at $20.7 million. In April 2026, it priced an underwritten offering of 16,445,000 Class A shares at $2.10 per share for $34.5 million in gross proceeds and reiterated a full-year 2026 Adjusted EBITDA loss target of less than $25 million.
Angel Studios, Inc. entered into an underwriting agreement for an underwritten public offering of 14,300,000 shares of its Class A common stock at $2.10 per share, generating expected gross proceeds of about $30 million and net proceeds of about $28 million after underwriting discounts and expenses.
The company granted underwriters a 30-day option to purchase up to an additional 2,145,000 shares and expects the offering to close on or about April 13, 2026, subject to customary conditions. Angel Studios plans to use the cash raised for general corporate purposes, including capital expenditures and working capital.
Angel Studios, Inc. provided preliminary results for the first quarter of 2026. The company expects revenue between $105.0 million and $109.0 million. It also projects Adjusted EBITDA, a non-GAAP metric, in a loss range of $(4.0) million to $(6.0) million.
Management defines Adjusted EBITDA as earnings before interest, taxes, depreciation, amortization, stock compensation, gain or loss on digital assets, and exceptional items. These figures are preliminary, may change after quarter-end review procedures, and have not been audited or reviewed by Tanner LLP.
Angel Studios, Inc. reported very rapid growth but widening losses for the fourth quarter and full year 2025. Fourth quarter revenue reached $109.9 million, up from $31.0 million a year earlier, driven mainly by a $54.7 million increase in Angel Guild revenue and a $19.6 million rise in theatrical revenue from the DAVID release. Full-year revenue was $321.6 million, compared with $96.5 million in 2024. Gross margin in Q4 improved to 60% from 58%, but heavy selling and marketing spend of $120.6 million in the quarter contributed to a Q4 net loss of $78.6 million, or ($0.47) per share. For 2025, net loss widened to $170.5 million. As of December 31, 2025, cash and cash equivalents were $44.1 million, up from $7.2 million a year earlier, while total liabilities rose to $267.2 million and stockholders’ equity turned negative at $(25.8) million. The company highlighted Angel Guild annual recurring revenue of $360 million and expects a significantly narrowed Adjusted EBITDA loss of less than $25 million for full-year 2026.
Angel Studios, Inc. has amended and ratified its Loan and Security Agreement with Trinity Capital and other lenders through a First Credit Facility Amendment effective as of September 9, 2025. This follows a September 10, 2025 business combination in which Angel Studios assumed all liabilities and obligations of the original borrower under the credit facility.
The amendment also reflects the formation of a joint venture and its acquisition of rights, titles and interests in the animated feature film provisionally entitled DAVID. Key financial covenants were revised, including setting the required liquidity level at $30,000,000.
In addition, the company must provide evidence to the administrative agent that it has received net cash proceeds of an additional $30,000,000 from the sale or issuance of Angel Studios’ equity interests between January 1, 2025 and June 30, 2026, on terms and conditions satisfactory to the administrative agent.
Angel Studios, Inc. filed a current report to share a business milestone under Regulation FD. On December 30, 2025, the company announced via press release that it has surpassed two million paying Angel Guild members, highlighting the scale of its paying member community. The press release containing this information is attached as an exhibit and incorporated by reference.
Angel Studios, Inc. reports that theatrical presales for its upcoming animated musical DAVID have reached approximately $14 million as of December 16, 2025.
The company had previously disclosed that DAVID generated nearly $3 million in theatrical presales during its first three weeks on sale, and that by November 26, 2025, presales had increased to nearly $6 million alongside an expanded international theatrical rollout across 43 markets.
The company states that the continued rise in presales reflects exhibitor participation and audience demand ahead of the film’s nationwide theatrical release scheduled for December 19, 2025, while cautioning that presales are advance ticket purchases, are not recognized revenue, and that actual box office results may differ due to factors such as audience attendance, competing releases, market conditions, and other risks.
Angel Studios, Inc. reported that its Board approved 2026 compensation arrangements for certain executive officers under its 2025 Long-Term Incentive Plan. For Chief Executive Officer Neal Harmon, the Board set a 2026 base salary of $550,000 and granted 245,916 restricted stock units (RSUs) and 129,176 performance-based restricted stock units (PSUs).
The RSU grant vests one-third on December 10, 2026, with the remaining two-thirds vesting in eight equal quarterly installments from February 18, 2027 through November 18, 2028, subject to the 2025 plan and award agreements. The PSUs vest only if minimum average share-price milestones are met during the ten-year period after grant and the executive remains employed on the first day of the quarter after the milestone is reached. Each RSU and PSU corresponds to one share of Class A common stock.
Angel Studios, Inc. entered into an Equity Distribution Agreement with Oppenheimer & Co., TCBI Securities (Texas Capital Securities), Maxim Group and Roth Capital Partners, allowing the company to offer and sell from time to time up to $150,000,000 of its Class A common stock through an "at-the-market" equity program. Shares may be sold under an effective shelf registration statement and related prospectus and prospectus supplement.
The sales agents will use commercially reasonable efforts to place the stock, and will receive a commission of up to 3.0% of the gross sales price per share. Angel Studios also agreed to reimburse certain legal fees of the agents, including up to $100,000 for establishing the program and $15,000 on a quarterly basis. The agreement includes customary representations, warranties, indemnification and termination provisions, and explicitly states that it does not itself constitute an offer or sale where that would be unlawful.
Angel Studios, Inc. (ANGX) announced 2026 compensation arrangements for key executives under its 2025 Long-Term Incentive Plan. The Compensation Committee approved new base salaries effective January 1, 2026, and granted restricted stock units (RSUs) and performance-based restricted stock units (PSUs).
For 2026, President Jordan Harmon will receive a base salary of $430,000, 169,142 RSUs, and 70,695 PSUs. Chief Financial Officer Scott Klossner will receive a base salary of $415,000, 113,549 RSUs, and 58,482 PSUs. Each RSU or PSU represents one share of Class A common stock.
RSUs vest over time, with one-third vesting on November 18, 2026 and the remaining two-thirds in eight equal quarterly installments, subject to continued service. PSUs vest over a ten-year period only if specified average share-price milestones are met and the executive remains employed at the required dates, linking a portion of pay directly to long-term stock performance.
Angel Studios, Inc. (ANGX) announced definitive agreements to acquire three of its highest-performing series: Tuttle Twins, The Wingfeather Saga and Homestead. Each target will become a wholly owned subsidiary through separate mergers, with existing equity holders primarily receiving shares of Angel Class A common stock as consideration.
For Tuttle Twins, Angel currently owns 8.0% of Tuttle Twins Show, LLC and has funded operations with a maximum commitment of $9.5 million, having provided $10.05 million to date. If that merger does not close, post‑September 10, 2025 funding will convert into TTS preferred units at $1.16 per unit. For The Wingfeather Saga, Angel committed up to $11.9 million of funding and has provided $8.4 million so far, which would convert into TCP preferred B units at $1.50 per unit plus warrants if the deal is not completed.
For Homestead, consideration includes Angel stock based on a per share merger formula using $6.13 and additional royalty shares. All three mergers require various member or stockholder approvals, effectiveness of Form S‑4 registration statements and absence of legal prohibitions, and each agreement includes customary covenants, termination rights and outside dates in 2026. Several Angel executives, directors, their family members and affiliated entities hold interests in the targets and will receive Angel stock in these transactions.
Angel Studios, Inc. filed an amended Form 8-K (8-K/A) to furnish a revised press release about its planned acquisition of three series: Tuttle Twins, Homestead, and The Wingfeather Saga.
The revision clarifies the status of the transactions and corrects the description of purchase consideration to be paid upon closing. The information is provided under Item 7.01 (Regulation FD) and is being furnished, not filed. No other changes to the original report were made.
Angel Studios (ANGX) furnished an update stating it issued a press release announcing the acquisition of three series: Tuttle Twins, Homestead, and The Wingfeather Saga.
The disclosure was provided under Item 7.01 and the press release is attached as Exhibit 99.1. The information is being furnished, not filed, under the Exchange Act.
Angel Studios, Inc. furnished a Form 8-K announcing that it issued a press release with financial results and operational highlights for the quarter ended September 30, 2025.
The press release is included as Exhibit 99.1. The information under Item 2.02, including Exhibit 99.1, is furnished and not filed and is not subject to Section 18 of the Exchange Act, nor incorporated by reference into other filings except as expressly set forth.
Angel Studios, Inc. filed an amendment to its prior report about recent board appointments to provide additional related-party disclosure. The company’s Board had elected Katie Liljenquist and Benton Crane as directors effective October 22, 2025. On November 6, 2025, the company determined there are currently no transactions with Ms. Liljenquist that require disclosure under Item 404(a) of Regulation S-K. The company also determined that certain transactions involving Mr. Crane are required to be disclosed under that same related-party disclosure rule.
Angel Studios (ANGX) expanded its Board from five to seven directors and elected Katie Liljenquist and Benton Crane, effective October 22, 2025. They will serve until the next annual meeting or until successors are elected and qualified. The Board has not yet determined their independence or any transactions requiring Item 404(a) disclosure. The company noted Mr. Crane is a cousin of the CEO/President/Chief Content Officer and a founder of Legacy Angel; Ms. Liljenquist previously served on Legacy Angel’s board.
Non-employee director compensation was approved: an annual cash retainer of $50,000, plus $15,000 for the Audit Committee Chair. Each non-employee director will also receive RSUs with an aggregate grant-date fair value of approximately $75,000, effective October 23, 2025, vesting in equal quarterly installments over one year under the 2025 Long-Term Incentive Plan.
Angel Studios entered a joint venture and completed an asset purchase agreement on October 7, 2025.
The company and 2521 Entertainment, LLC formed a joint venture through Giant Slayer Media LLC under a binding term sheet that became effective when an Asset Purchase Agreement was executed on October 7, 2025. Under the Asset Purchase Agreement, the JV (Giant Slayer Media) will acquire specified purchased assets for an aggregate cash purchase price of $77,917,158.92. The term sheet remains in effect until execution of a definitive LLCA and a Distribution Agreement or until the JV partners mutually terminate it.
Per the disclosed terms, Giant Slayer Media will own the purchased assets and all derivative rights (including sequels, prequels, spinoffs and other works) will vest automatically in Giant Slayer Media. The company or its affiliate is expected to act as distributor under a Distribution Agreement that will set payment, default and guaranty terms, while the LLCA will govern management and distribution of proceeds within the JV.
Southport Acquisition Corp (PORTW) filed an 8-K describing material agreements and corporate changes tied to its proposed business combination and related proxy materials. The filing references an Amended and Restated Registration Rights Agreement among the Sponsor and certain Angel Legacy stockholders, incorporation of numerous proxy/S-1 sections by reference, and disclosure of risk factors including competition, profitability, cybersecurity, financing needs, litigation risk, and potential loss of NYSE listing.
The company notes adoption of a 2025 equity incentive plan following shareholder approval and describes capital structure voting differences between Class A and Class B shares and several significant equity holdings and option positions.
Angel Studios, Inc. reports that it has completed its previously announced business combination in which Sigma Merger Sub merged into Angel Studios Legacy, which now operates as a wholly owned subsidiary, and the company changed its name from Southport Acquisition Corporation to Angel Studios, Inc.
The company’s audit committee approved the appointment of Tanner LLC as independent registered public accounting firm for the year ending December 31, 2025, replacing BDO USA, P.C., which had audited Southport before the merger. BDO’s prior audit reports included an explanatory paragraph expressing substantial doubt about Southport’s ability to continue as a going concern, tied to its limited cash and reliance on completing the business combination.
The company states there were no disagreements with BDO on accounting principles, financial disclosure, or audit scope, though BDO had identified material weaknesses in internal control over financial reporting related to the statement of cash flows, recognition of excise tax liabilities, and presentation and recording of accrued liabilities, which continued to exist as of June 30, 2025.