| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 111.71 | 3.0% | 27.5% |
| Total Income | 111.71 | 3.0% | 27.5% |
| Expenditure | 130.22 | 10.6% | 19.5% |
| PBT | -23.79 | 72.9% | 51.4% |
| Net Profit | -23.79 | 72.4% | 50.9% |
| OPM | -16.57% | 14.26pp | 7.76pp |
| NPM | -21.30% | 9.31pp | 3.31pp |
| EPS | -0.13 | 57.3% | 21.7% |
Angel Studios Reports Q2 2026 Results: Guild Membership Climbs 99.2% Year-Over-Year
05 Aug 2026 · 5 Aug, 1:59 am
Summary
Angel Studios, Inc. announced its second quarter 2026 financial results, highlighting substantial growth in its Angel Guild membership, which climbed 99.2% year-over-year to 2.61 million paying members. This membership growth fueled a 93.8% increase in Guild revenue to $90.7 million, contributing to a 27.5% rise in total revenue to $111.7 million. The company also demonstrated improved operational efficiency, with Guild selling and marketing expenses falling to 52.8% of Guild revenue, and achieved positive operating cash flow of $16.9 million. Despite a net loss of $23.8 million for the quarter, the company reiterated its full-year 2026 Adjusted EBITDA loss guidance of no more than $25 million.
Key Highlights
- 1
Angel Guild membership grew 99.2% year-over-year to 2.61 million paying members in Q2 2026.
- 2
Guild revenue increased by 93.8% year-over-year to $90.7 million in Q2 2026.
- 3
Total revenue for the second quarter of 2026 was $111.7 million, an increase of 27.5% compared to $87.6 million in the second quarter of 2025.
- 4
Guild selling and marketing expense decreased to 52.8% of Guild revenue in Q2 2026, down from 71.6% in Q2 2025, reflecting improved efficiency.
- 5
The Company reported positive operating cash flow of $16.9 million in Q2 2026, a significant improvement from ($10.6) million in Q2 2025.
- 6
Net loss for the second quarter of 2026 was approximately $23.8 million, compared to a net loss of $15.7 million in the second quarter of 2025.
- 7
The Company reiterates its guidance to reduce its full-year 2026 Adjusted EBITDA loss to no more than $25 million.
Management Comments
Neal Harmon
Guild membership is up 99% year-over-year while we cut Guild marketing spend as a share of Guild revenue by more than 26%. That’s the model working on Angel’s proprietary tech platform: audience-driven curation, values-based storytelling, and filmmaker rev-share are making Angel stronger, more efficient, and harder to replicate with every film release and with every new Guild member.
Informational and educational content only. Not investment advice.