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Angel Studios Inc Class A
(NYSE:ANGX)
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Rating:46Neutral
Price Target:
$3.50
▲(33.59% Upside)
Action:Reiterated
Date:07/01/26
The score is held down primarily by weak financial performance—large operating losses, significant cash burn, negative equity, and rising debt—despite strong revenue growth and solid gross margins. Technicals are moderately improved in the intermediate term (above key shorter moving averages) but remain below the 200-day trend, while valuation is constrained by ongoing losses (negative P/E) and no dividend support. Corporate events add a small positive offset through improved transparency and governance stability.
Positive Factors
Revenue growth & high gross margin
Sustained TTM revenue growth with a ~61.7% gross margin indicates solid demand and favorable unit economics. Over 2–6 months this supports scaling revenue without proportionate content cost increases, giving the company structural room to improve operating leverage as distribution and membership monetize further.
Negative Factors
Large cash burn
Material negative operating and free cash flow represent sustained cash burn that erodes runway and forces reliance on external capital. Over the medium term this constrains reinvestment in content and marketing, raises refinancing risk, and can pressure strategic flexibility if capital markets tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth & high gross margin
Sustained TTM revenue growth with a ~61.7% gross margin indicates solid demand and favorable unit economics. Over 2–6 months this supports scaling revenue without proportionate content cost increases, giving the company structural room to improve operating leverage as distribution and membership monetize further.
Read all positive factors
Angel Studios Inc Class A (ANGX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$658.04M
Dividend YieldN/A
Average Volume (3M)1.20M
Price to Earnings (P/E)―
Beta (1Y)0.29
Revenue GrowthN/A
EPS Growth-19.50%
CountryUS
Employees311
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)-0.90
Shares Outstanding129,624,360
10 Day Avg. Volume1,282,007
30 Day Avg. Volume1,201,006
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)-23.06
Price to Sales (P/S)2.25
P/FCF Ratio-8.65
Enterprise Value/Market Cap0.87
Enterprise Value/Revenue1.47
Enterprise Value/Gross Profit2.39
Enterprise Value/Ebitda-5.24
Forecast
1Y Price Target
$8.00Price Target Upside205.34% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.42
Revenue Forecast (FY)$476.82M
Angel Studios Inc Class A Business Overview & Revenue Model
Company Description
Angel Studios, Inc., established in 2013 and headquartered in Provo, Utah, operates a streaming service dedicated to producing and distributing movies and television series from various creators. Through its platform, the company offers subscriber...
How the Company Makes Money
Publicly available, company-specific detail sufficient to describe Angel Studios Inc (ANGX) revenue model and key revenue streams with high confidence is null. In general terms consistent with an entertainment studio/distributor, monetization may ...
Angel Studios Inc Class A Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
18
Very Negative
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 389.22M | 321.56M | 96.52M | 202.44M | 75.52M | 0.00 |
| Gross Profit | 239.84M | 196.70M | 54.45M | 116.40M | 35.12M | 0.00 |
| EBITDA | -109.24M | -143.31M | -82.38M | 11.56M | -12.66M | 2.94M |
| Net Income | -146.87M | -170.48M | -89.80M | 9.16M | -13.71M | 2.33M |
Balance Sheet | ||||||
| Total Assets | 213.09M | 241.41M | 98.52M | 98.26M | 39.39M | 236.63M |
| Cash, Cash Equivalents and Short-Term Investments | 38.88M | 44.08M | 7.21M | 25.20M | 10.72M | 1.95M |
| Total Debt | 105.31M | 100.51M | 14.28M | 5.49M | 3.98M | 0.00 |
| Total Liabilities | 254.55M | 267.19M | 94.67M | 58.58M | 17.39M | 26.29M |
| Stockholders Equity | -41.29M | -31.43M | -4.37M | 39.83M | 22.00M | 210.34M |
Cash Flow | ||||||
| Free Cash Flow | -100.96M | -83.84M | -60.54M | 5.34M | -12.80M | 794.34K |
| Operating Cash Flow | -93.42M | -83.33M | -60.23M | 5.91M | -11.66M | 794.34K |
| Investing Cash Flow | -67.12M | -57.61M | -3.91M | -688.11K | -3.50M | -234.60M |
| Financing Cash Flow | 206.19M | 177.81M | 46.15M | 9.25M | 1.62M | 235.76M |
Angel Studios Inc Class A Risk Analysis
Angel Studios Inc Class A disclosed 53 risk factors in its most recent earnings report. Angel Studios Inc Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
Angel Studios Inc Class A Peers Comparison
UnderperformOutperform
Sector (60)
ANGX
Angel Studios Inc Class A
3.67
-7.93
-68.36%
VELO
Velo3D
13.58
6.08
81.07%
KWM
K WAVE MEDIA
0.14
-5.07
-97.40%
Angel Studios Inc Class A Corporate Events
Business Operations and StrategyM&A TransactionsRegulatory Filings and Compliance
Angel Studios Amends Merger Agreements with Content Producers
Neutral
Jun 30, 2026
On June 29, 2026, Angel Studios amended and restated its merger agreements with Tuttle Twins Show, LLC and Toothy Cow Productions, LLC, extending the outside closing date for both transactions to October 31, 2026 and revising several key condition...
Business Operations and StrategyRegulatory Filings and Compliance
Angel Studios Updates Charter to Modify Class B Conversions
Neutral
Jun 18, 2026
On June 17, 2026, Angel Studios, Inc. filed a Third Amended and Restated Certificate of Incorporation in Delaware to change how its Class B common stock converts into Class A shares in connection with certain transfers and with the death or perman...
Business Operations and StrategyFinancial Disclosures
Angel Studios Begins Public Disclosure of Angel Guild Membership
Positive
Jun 4, 2026
On May 29, 2026, Angel Studios, Inc. began publicly disclosing its current count of active paying Angel Guild members via a dedicated page on its website. The company plans to update this metric on a regular basis, providing investors with ongoing...
Executive/Board ChangesShareholder Meetings
Angel Studios Shareholders Back Board Slate and Auditor
Positive
May 22, 2026
At its annual stockholder meeting held on May 21, 2026, Angel Studios, Inc. saw a quorum of shareholders vote to elect five directors, including Neal Harmon and Steve Sarowitz, to serve until the next annual meeting and until their successors are ...
Financial Disclosures
Angel Studios Issues Preliminary First-Quarter 2026 Financial Outlook
Neutral
Apr 10, 2026
Angel Studios, Inc. said it expects to report first-quarter 2026 revenue between $105 million and $109 million and an Adjusted EBITDA loss ranging from $4 million to $6 million for the period ending March 31, 2026. Management emphasized that these...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.