Angel Studios, Inc.

Angel Studios, Inc. filed a Third Amended and Restated Certificate of Incorporation to revise provisions related to the automatic conversion of Class B common stock. The amendments introduce new Permitted Transferee categories for certain Delaware noncharitable purpose trusts and irrevocable estate planning trusts. Class B common stock held by these qualifying trusts will not be subject to automatic conversion, provided they comply with the Amended Charter's requirements. The Board of Directors approved the changes on June 16, 2026, and a majority of Class B stockholders, representing 77.45% of outstanding shares, consented on June 17, 2026.

Angel Studios, Inc. announced that it has started publicly disclosing its active paying Angel Guild member count. This metric became available on the company's website on May 29, 2026, and will be updated regularly. This move provides investors with ongoing access to a key operational metric.

Angel Studios, Inc. reported a significant increase in total revenue for Q1 2026, reaching $115.1 million, a 142.6% rise from the prior year. The company also substantially reduced its net loss to $(13.8) million, compared to $(37.3) million in Q1 2025, and achieved positive cash flow from operating activities. Post-period, Angel Studios completed a public offering in April 2026, raising $34.5 million.

Angel Studios reported strong first-quarter 2026 financial results, with revenue increasing 143% year-over-year to $115.1 million. The company achieved positive Adjusted EBITDA of $4.0 million, a significant improvement from a $(28.7) million loss in the prior year. Angel Guild membership grew 11% quarter-over-quarter to 2.22 million, and selling and marketing expenses improved to 49% of total revenue. The company also reiterated its narrowed Adjusted EBITDA loss outlook for the full year 2026.

Angel Studios, Inc. entered into an underwriting agreement with Roth Capital Partners, LLC for a public offering of 14,300,000 shares of its Class A common stock at $2.10 per share. The company expects to receive approximately $28.0 million in net proceeds from the offering. Additionally, the underwriters have a 30-day option to purchase up to an additional 2,145,000 shares. The offering is anticipated to close on or about April 13, 2026.

Angel Studios, Inc. has released preliminary financial estimates for the first quarter of 2026, forecasting revenue in the range of $105.0 million to $109.0 million. Simultaneously, the company expects to report an Adjusted EBITDA loss for the quarter, estimated between $(4.0) million and $(6.0) million. These figures are based on current expectations and are subject to adjustment pending the completion of customary quarter-end review procedures and financial review. The full financial results for the period ending March 31, 2026, are anticipated to be disclosed during an earnings call scheduled for May 2026.