| Metric | Value ($ M) | vs Q2 FY25 |
|---|---|---|
| Revenue | 76.54 | 12.7% |
| Total Income | 76.54 | 12.7% |
| Expenditure | 114.63 | 5.2% |
| PBT | -38.61 | 145.8% |
| Net Profit | -38.55 | 144.4% |
| OPM | -49.76% | 25.43pp |
| NPM | -50.37% | 32.38pp |
| EPS | -0.25 | 132.1% |
Angel Studios Reports Q3 2025 Record Revenue of $76.5 Million, Up 280% YoY
04 May 2026 · 4 May, 7:13 am
Summary
Angel Studios reported a record third quarter revenue of $76.5 million, a 280% increase year-over-year. Revenue for the nine-month period grew 223% to $211.6 million. The Angel Guild, the company's recurring revenue stream, represented 77% of total third quarter revenue, growing 556% year-over-year. Net loss for the quarter was $38.6 million, driven by increased marketing and content-related expenses. The company also closed a $100 million credit facility with Trinity Capital.
Key Highlights
- 1
Third quarter revenues increased 280% year-over-year to $76.5 million.
- 2
Revenues for the nine-month period ended September 30, grew 223% to $211.6 million.
- 3
The Angel Guild contributed $59.2 million, representing 77% of total revenues for the quarter, with growth of more than 556% compared to 2024.
- 4
The Angel Guild grew to 1.6 million members in the third quarter, an increase of 19% from the second quarter of 2025, and up 620% year-over-year.
- 5
Net loss for the third quarter was $38.6 million, compared to $13.9 million in 2024, driven largely by increased marketing and content-related expenses.
- 6
The company closed a $100 million credit facility with Trinity Capital in conjunction with its public listing.
- 7
As of September 30, 2025, Angel has cash and cash equivalents of $63.3 million, compared to $7.2 million as of December 31, 2024.
Management Comments
Neal Harmon
“Our third-quarter results underscore the strength of our community and the momentum of our audience-first model,” said Neal Harmon, Co-Founder and CEO of Angel. “The Angel Guild has grown more than 500% year over year to 1.6 million paying members – a remarkable community that doesn’t just watch, but decides which values-driven films and series get made. We have an exciting slate of projects headed to theaters and the Angel platform, and as audiences seek stories that uplift and inspire, Angel is just beginning to meet that demand.”
Informational and educational content only. Not investment advice.